Fortinet, Inc.
MX ˙ BMV ˙ US34959E1091
SecurityMX:FTNT / Fortinet, Inc.
InstitutionBaird Financial Group, Inc.
Latest Disclosed Ownership154,174 shares
Latest Disclosed Value $ 12,599,099
Baird Financial Group, Inc. reports 19.49% decrease in ownership of FTNT / Fortinet, Inc.

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 154,174 shares of Fortinet, Inc. (MX:FTNT) valued at $12,599,099 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 191,504 shares of Fortinet, Inc.. This represents a change in shares of -19.49% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F FORTINET COM 34959E109 154,174 -37,330 -19.49 12,599 -17.15 0.0106
2026-02-13 2025-12-31 13F FORTINET INC COM COMMON 34959E109 191,504 -14,804 -7.18 15,207 -12.33 0.0237
2025-11-13 2025-09-30 13F FORTINET COMMON 34959E109 206,308 -3,473 -1.66 17,346 -21.79 0.0279
2025-08-13 2025-06-30 13F FORTINET INC COM COMMON 34959E109 209,781 15,601 8.03 22,178 18.66 0.0389
2025-05-15 2025-03-31 13F FORTINET INC COM COMMON 34959E109 194,180 -3,043 -1.54 18,692 0.31 0.0360
2025-02-14 2024-12-31 13F FORTINET COMMON 34959E109 197,223 -50,795 -20.48 18,634 -3.12 0.0356
2024-11-14 2024-09-30 13F FORTINET COMMON 34959E109 248,018 -3,565 -1.42 19,234 26.85 0.0374
2024-08-14 2024-06-30 13F FORTINET COMMON 34959E109 251,583 -400,259 -61.40 15,163 -65.95 0.0315
2024-05-14 2024-03-31 13F FORTINET COMMON 34959E109 651,842 -44,611 -6.41 44,527 9.23 0.0934
2024-02-14 2023-12-31 13F FORTINET COMMON 34959E109 696,453 -86,073 -11.00 40,763 -11.23 0.0929
2023-11-13 2023-09-30 13F FORTINET COMMON 34959E109 782,526 110,849 16.50 45,919 -9.56 0.1252
2023-08-11 2023-06-30 13F FORTINET COMMON 34959E109 671,677 339,861 102.42 50,772 130.24 0.1340
2023-05-15 2023-03-31 13F FORTINET COMMON 34959E109 331,816 81,283 32.44 22,052 183,666.67 0.0544
2023-02-13 2022-12-31 13F FORTINET COMMON 34959E109 250,533 12,530 5.26 12 -99.90 0.0323
2022-11-15 2022-09-30 13F FORTINET COMMON 34959E109 238,003 -18,648 -7.27 11,693 -19.48 0.0345
2022-08-08 2022-06-30 13F FORTINET COMMON 34959E109 256,651 239,317 1,380.62 14,522 145.06 0.0403
2022-05-13 2022-03-31 13F FORTINET COMMON 34959E109 17,334 -35,431 -67.15 5,926 -68.75 0.0146
2022-02-09 2021-12-31 13F FORTINET INC COM COMMON 34959E109 52,765 -1,489 -2.74 18,964 19.69 0.0443
2021-11-12 2021-09-30 13F FORTINET INC COM COMMON 34959E109 54,254 -13,622 -20.07 15,844 -2.00 0.0405
2021-08-11 2021-06-30 13F FORTINET INC COM COMMON 34959E109 67,876 46,116 211.93 16,167 302.87 0.0420
2021-05-13 2021-03-31 13F FORTINET INC COM COMMON 34959E109 21,760 1,160 5.63 4,013 31.14 0.0113
2021-02-11 2020-12-31 13F FORTINET INC COM COMMON 34959E109 20,600 -791 -3.70 3,060 21.43 0.0091
2020-11-12 2020-09-30 13F FORTINET INC COM COMMON 34959E109 21,391 3,147 17.25 2,520 0.64 0.0086
2020-10-22 2020-06-30 13F/A-1 FORTINET INC COM COMMON 34959E109 18,244 383 2.14 2,504 38.57 0.0094
2020-08-14 2020-06-30 13F FORTINET INC COM COMMON 34959E109 15,505 -2,356 1,658 3,285.7793
2020-05-14 2020-03-31 13F FORTINET COMMON 34959E109 17,861 1,201 7.21 1,807 1.57 0.0083
2020-02-14 2019-12-31 13F FORTINET COMMON 34959E109 16,660 -800 -4.58 1,779 32.76 0.0064
2019-11-14 2019-09-30 13F FORTINET Common 34959E109 17,460 4,492 34.64 1,340 34.54 0.0053
2019-08-14 2019-06-30 13F FORTINET COMMON 34959E109 12,968 12,968 996 0.0039
2016-05-12 2016-03-31 13F FORTINET COMMON 34959E109 0 -1,170,146 -100.00 0 -100.00
2016-02-11 2015-12-31 13F FORTINET COMMON 34959E109 1,170,146 -367,760 -23.91 36,473 -44.17 0.3648
2015-11-12 2015-09-30 13F FORTINET COMMON 34959E109 1,537,906 -23,038 -1.48 65,330 1.26 0.6946
2015-08-14 2015-06-30 13F FORTINET COMMON 34959E109 1,560,944 1,560,944 64,514 0.6348
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.