Vanguard Group Inc ownership in FTNT / Fortinet, Inc.

Fortinet, Inc.

MX ˙ BMV ˙ US34959E1091

Security	MX:FTNT / Fortinet, Inc.
Institution	Vanguard Group Inc
Latest Disclosed Ownership	76,144,454 shares
Ownership	10.23%

2025-12-03 - Vanguard Group Inc has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 76,144,454 shares of Fortinet, Inc. (MX:FTNT). This represents 10.23 percent ownership of the company. In their previous filing dated 2025-10-30 , Vanguard Group Inc had reported owning 75,580,392 shares, indicating an increase of 0.75 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2025-12-03	2025-12-03	13G/A	75,580,392	76,144,454	0.75	10.23	3.75
2025-10-30	2025-10-30	13G/A	67,272,758	75,580,392	12.35	9.86	12.56
2024-02-13	2024-02-13	13G/A	67,373,952	67,272,758	-0.15	8.76	1.62
2023-02-09	2023-02-09	13G/A	15,414,022	67,373,952	337.10	8.62	-8.59
2022-02-10	2022-02-10	13G/A	15,921,531	15,414,022	-3.19	9.43	-3.87
2021-02-10	2021-02-10	13G/A	17,388,254	15,921,531	-8.44	9.81	-3.44
2020-02-12	2020-02-12	13G/A	17,051,316	17,388,254	1.98	10.16	1.60
2019-01-10	2019-01-10	13G/A	12,596,781	17,051,316	35.36	10.00	38.12
2018-02-09	2018-02-09	13G/A	11,323,704	12,596,781	11.24	7.24	10.70
2017-02-13	2017-02-13	13G/A	10,179,640	11,323,704	11.24	6.54	10.85
2016-02-10	2016-02-10	13G/A		10,179,640		5.90
2015-02-10	2015-02-10	13G		8,530,908		5.17

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

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.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-01-29	2025-12-31	13F	FORTINET	COM	34959E109	73,745,561	-1,835,714	-2.43	5,856,135	-7.85	0.0849
2025-11-07	2025-09-30	13F	FORTINET	COM	34959E109	75,581,275	2,894,355	3.98	6,354,874	-17.30	0.0951
2025-08-11	2025-06-30	13F	FORTINET	COM	34959E109	72,686,920	1,024,516	1.43	7,684,461	11.40	0.1244
2025-05-09	2025-03-31	13F	FORTINET	COM	34959E109	71,662,404	3,546,934	5.21	6,898,223	7.19	0.1247
2025-02-11	2024-12-31	13F	FORTINET	COM	34959E109	68,115,470	730,994	1.08	6,435,550	23.15	0.1121
2024-11-13	2024-09-30	13F	FORTINET	COM	34959E109	67,384,476	515,242	0.77	5,225,666	29.66	0.0936
2024-08-13	2024-06-30	13F	FORTINET	COM	34959E109	66,869,234	-1,183,253	-1.74	4,030,209	-13.30	0.0774
2024-05-10	2024-03-31	13F	FORTINET	COM	34959E109	68,052,487	779,271	1.16	4,648,665	18.06	0.0921
2024-03-11	2023-12-31	13F/A-1	FORTINET	COM	34959E109	67,273,216	-569,257	-0.84	3,937,501	-1.09	0.0860
2024-02-14	2023-12-31	13F	FORTINET	COM	34959E109	67,272,758	-569,715		3,937,475		0.0862
2023-12-18	2023-09-30	13F/A-1	FORTINET	COM	34959E109	67,842,473	-154,087	-0.23	3,980,996	-22.55	0.0978
2023-11-14	2023-09-30	13F	FORTINET	COM	34959E109	67,842,473	-154,087		3,980,996		0.0978
2023-08-14	2023-06-30	13F	FORTINET	COM	34959E109	67,996,560	383,027	0.57	5,139,860	14.38	0.1219
2023-07-14	2023-03-31	13F/A-1	FORTINET	COM	34959E109	67,613,533	239,581	0.36	4,493,595	36.42	0.1144
2023-05-15	2023-03-31	13F	FORTINET	COM	34959E109	67,613,125	239,173		4,493,568		0.1144
2023-02-10	2022-12-31	13F	FORTINET	COM	34959E109	67,373,952	276,283	0.41	3,293,913	-0.08	0.0897
2022-11-14	2022-09-30	13F	FORTINET	COM	34959E109	67,097,669	-277,624	-0.41	3,296,509	-13.52	0.0970
2022-08-12	2022-06-30	13F	FORTINET	COM	34959E109	67,375,293	53,774,941	395.39	3,812,094	-17.98	0.1072
2022-05-13	2022-03-31	13F	FORTINET	COM	34959E109	13,600,352	-1,813,670	-11.77	4,647,786	-16.10	0.1099
2022-02-14	2021-12-31	13F	FORTINET	COM	34959E109	15,414,022	79,322	0.52	5,539,798	23.70	0.1258
2021-11-12	2021-09-30	13F	FORTINET	COM	34959E109	15,334,700	-75,685	-0.49	4,478,345	22.01	0.1112
2021-08-13	2021-06-30	13F	FORTINET	COM	34959E109	15,410,385	-284,267	-1.81	3,670,599	26.82	0.0913
2021-05-14	2021-03-31	13F	FORTINET	COM	34959E109	15,694,652	-226,879	-1.42	2,894,408	22.39	0.0783
2021-02-12	2020-12-31	13F	FORTINET	COM	34959E109	15,921,531	-202,731	-1.26	2,364,825	24.49	0.0686
2020-11-16	2020-09-30	13F	FORTINET	COM	34959E109	16,124,262	-411,742	-2.49	1,899,598	-16.31	0.0629
2020-08-14	2020-06-30	13F	FORTINET	COM	34959E109	16,536,004	-1,155,907	-6.53	2,269,898	26.82	0.0805
2020-05-15	2020-03-31	13F	FORTINET	COM	34959E109	17,691,911	303,657	1.75	1,789,889	-3.58	0.0763
2020-02-14	2019-12-31	13F	FORTINET	COM	34959E109	17,388,254	-3,152	-0.02	1,856,369	39.06	0.0633
2019-11-14	2019-09-30	13F	FORTINET	COM	34959E109	17,391,406	164,085	0.95	1,334,965	0.86	0.0495
2019-08-14	2019-06-30	13F	FORTINET	COM	34959E109	17,227,321	-3,425	-0.02	1,323,576	-8.52	0.0498
2019-05-15	2019-03-31	13F	FORTINET	COM	34959E109	17,230,746	179,430	1.05	1,446,866	20.48	0.0568
2019-02-14	2018-12-31	13F	FORTINET	COM	34959E109	17,051,316	3,166,323	22.80	1,200,924	-6.26	0.0540
2018-12-13	2018-09-30	13F/A-2	FORTINET	COM	34959E109	13,884,993	394,636	2.93	1,281,168	52.12	0.0501
2018-11-23	2018-09-30	13F/A-1	FORTINET	COM	34959E109	13,884,993	0		1,281,168		0.0501
2018-11-14	2018-09-30	13F	FORTINET	COM	34959E109	13,884,993	394,636		1,281,168
2018-08-14	2018-06-30	13F	FORTINET	COM	34959E109	13,490,357	803,022	6.33	842,203	23.89	0.0352
2018-05-15	2018-03-31	13F	FORTINET	COM	34959E109	12,687,335	90,554	0.72	679,787	23.52	0.0297
2018-02-14	2017-12-31	13F	FORTINET	COM	34959E109	12,596,781	177,971	1.43	550,354	23.65	0.0241
2017-11-14	2017-09-30	13F	FORTINET	COM	34959E109	12,418,810	233,388	1.92	445,090	-2.44	0.0208
2017-08-24	2017-06-30	13F/A-1	FORTINET	COM	34959E109	12,185,422	298,051	2.51	456,222	0.07	0.0225
2017-08-11	2017-06-30	13F	FORTINET	COM	34959E109	12,185,422	298,051		456,222
2017-05-12	2017-03-31	13F	FORTINET	COM	34959E109	11,887,371	563,667	4.98	455,881	33.66	0.0234
2017-02-14	2016-12-31	13F	FORTINET	COM	34959E109	11,323,704	605,769	5.65	341,070	-13.83	0.0190
2016-11-14	2016-09-30	13F	FORTINET	COM	34959E109	10,717,935	745,379	7.47	395,814	25.64	0.0233
2016-08-10	2016-06-30	13F	FORTINET	COM	34959E109	9,972,556	-508,598	-4.85	315,033	-1.87	0.0196
2016-05-13	2016-03-31	13F	FORTINET	COM	34959E109	10,481,154	301,514	2.96	321,037	1.18	0.0208
2016-02-08	2015-12-31	13F	FORTINET	COM	34959E109	10,179,640	443,306	4.55	317,300	-23.28	0.0213
2015-11-12	2015-09-30	13F/A-1	FORTINET	COM	34959E109	9,736,334	206,389	2.17	413,599	5.01	0.0176
2015-11-12	2015-09-30	13F	FORTINET	COM	34959E109	18,324,355			695,638
2015-08-13	2015-06-30	13F	FORTINET	COM	34959E109	9,529,945	525,105	5.83	393,873	25.15	0.0266
2015-05-15	2015-03-31	13F/A-1	FORTINET	COM	34959E109	9,004,840	473,932	5.56	314,719	20.33	0.0213
2015-05-14	2015-03-31	13F	FORTINET	COM	34959E109	9,004,840			314,719
2015-02-12	2014-12-31	13F	FORTINET	COM	34959E109	8,530,908	503,613	6.27	261,557	28.97	0.0188
2014-11-12	2014-09-30	13F	FORTINET	COM	34959E109	8,027,295	32,854	0.41	202,810	0.95	0.0158
2014-08-11	2014-06-30	13F	FORTINET	COM	34959E109	7,994,441	-116,013	-1.43	200,900	12.44	0.0158
2014-05-13	2014-03-31	13F	FORTINET	COM	34959E109	8,110,454	68,773	0.86	178,674	16.14	0.0150
2014-02-12	2013-12-31	13F	FORTINET	COM	34959E109	8,041,681	687,680	9.35	153,838	3.25	0.0135
2013-11-07	2013-09-30	13F	FORTINET	COM	34959E109	7,354,001	268,784	3.79	148,992	20.16	0.0146
2013-08-13	2013-06-30	13F	FORTINET	COM	34959E109	7,085,217	7,085,217		123,991		0.0130

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.