Palo Alto Networks, Inc.
US ˙ NasdaqGS ˙ US6974351057

SecurityPANW / Palo Alto Networks, Inc.
InstitutionD.a. Davidson & Co.
Latest Disclosed Ownership72,373 shares
Latest Disclosed Value $ 11,602,839
D.a. Davidson & Co. reports 1.43% increase in ownership of PANW / Palo Alto Networks, Inc.

On May 5, 2026 - D.a. Davidson & Co. filed a 13F-HR form disclosing ownership of 72,373 shares of Palo Alto Networks, Inc. (US:PANW) valued at $11,602,839 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 29, 2026 disclosing 71,352 shares of Palo Alto Networks, Inc.. This represents a change in shares of 1.43% during the quarter. The current value of the position is $20,295,560 USD.

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 Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-05 2026-03-31 13F PALO ALTO NETWORKS COM 697435105 72,373 1,021 1.43 11,603 -11.72 0.0703
2026-01-29 2025-12-31 13F PALO ALTO NETWORKS COM 697435105 71,352 -56 -0.08 13,143 -9.61 0.0805
2025-10-22 2025-09-30 13F PALO ALTO NETWORKS COM 697435105 71,408 5,268 7.96 14,540 7.43 0.0930
2025-07-30 2025-06-30 13F PALO ALTO NETWORKS COM 697435105 66,140 582 0.89 13,535 20.99 0.0953
2025-04-28 2025-03-31 13F PALO ALTO NETWORKS COM 697435105 65,558 -520 -0.79 11,187 -6.96 0.0898
2025-01-31 2024-12-31 13F PALO ALTO NETWORKS COM 697435105 66,078 34,711 110.66 12,024 12.14 0.0978
2024-11-13 2024-09-30 13F PALO ALTO NETWORKS COM 697435105 31,367 -2,845 -8.32 10,721 -7.56 0.0885
2024-08-01 2024-06-30 13F PALO ALTO NETWORKS COM 697435105 34,212 4,972 17.00 11,598 39.62 0.1028
2024-05-13 2024-03-31 13F PALO ALTO NETWORKS COM 697435105 29,240 -2,387 -7.55 8,308 -10.93 0.0748
2024-02-09 2023-12-31 13F PALO ALTO NETWORKS COM 697435105 31,627 2,544 8.75 9,326 36.78 0.0914
2023-11-08 2023-09-30 13F PALO ALTO NETWORKS COM 697435105 29,083 -1,143 -3.78 6,818 -11.72 0.0740
2023-08-11 2023-06-30 13F PALO ALTO NETWORKS COM 697435105 30,226 -1,895 -5.90 7,723 20.45 0.0815
2023-04-25 2023-03-31 13F PALO ALTO NETWORKS COM 697435105 32,121 517 1.64 6,413 45.40 0.0721
2023-02-03 2022-12-31 13F PALO ALTO NETWORKS COM 697435105 31,604 2,455 8.42 4,410 -7.64 0.0520
2022-11-07 2022-09-30 13F PALO ALTO NETWORKS COM 697435105 29,149 18,193 166.06 4,775 -11.77 0.0625
2022-07-28 2022-06-30 13F PALO ALTO NETWORKS COM 697435105 10,956 -1,310 -10.68 5,412 -29.13 0.0680
2022-05-12 2022-03-31 13F PALO ALTO NETWORKS COM 697435105 12,266 2,912 31.13 7,636 46.59 0.0832
2022-01-31 2021-12-31 13F PALO ALTO NETWORKS COM 697435105 9,354 364 4.05 5,209 20.97 0.0555
2021-11-15 2021-09-30 13F PALO ALTO NETWORKS COM 697435105 8,990 198 2.25 4,306 32.00 0.0500
2021-08-10 2021-06-30 13F PALO ALTO NETWORKS COM 697435105 8,792 553 6.71 3,262 22.96 0.0383
2021-05-07 2021-03-31 13F PALO ALTO NETWORKS COM 697435105 8,239 4,777 137.98 2,653 115.69 0.0339
2021-02-10 2020-12-31 13F PALO ALTO NETWORKS COM 697435105 3,462 146 4.40 1,230 51.48 0.0188
2020-11-02 2020-09-30 13F PALO ALTO NETWORKS COM 697435105 3,316 370 12.56 812 19.94 0.0141
2020-08-10 2020-06-30 13F PALO ALTO NETWORKS COM 697435105 2,946 -2,326 -44.12 677 -21.73 0.0126
2020-05-05 2020-03-31 13F PALO ALTO NETWORKS COM 697435105 5,272 551 11.67 865 -20.79 0.0169
2020-02-14 2019-12-31 13F PALO ALTO NETWORKS COM 697435105 4,721 -275 -5.50 1,092 7.27 0.0176
2019-11-05 2019-09-30 13F PALO ALTO NETWORKS COM 697435105 4,996 -1,758 -26.03 1,018 -26.02 0.0182
2019-08-13 2019-06-30 13F PALO ALTO NETWORKS COM 697435105 6,754 266 4.10 1,376 -11.79 0.0256
2019-05-13 2019-03-31 13F PALO ALTO NETWORKS COM 697435105 6,488 28 0.43 1,560 28.18 0.0268
2019-01-29 2018-12-31 13F PALO ALTO NETWORKS COM 697435105 6,460 654 11.26 1,217 -6.96 0.0237
2018-11-13 2018-09-30 13F PALO ALTO NETWORKS COM 697435105 5,806 -964 -14.24 1,308 -5.97 0.0233
2018-08-02 2018-06-30 13F PALO ALTO NETWORKS COM 697435105 6,770 -3,436 -33.67 1,391 -24.93 0.0273
2018-05-04 2018-03-31 13F PALO ALTO NETWORKS COM 697435105 10,206 -688 -6.32 1,853 17.35 0.0383
2018-02-08 2017-12-31 13F PALO ALTO NETWORKS COM 697435105 10,894 -100 -0.91 1,579 -0.32 0.0331
2017-11-08 2017-09-30 13F PALO ALTO NETWORKS COM 697435105 10,994 -419 -3.67 1,584 3.73 0.0311
2017-08-11 2017-06-30 13F PALO ALTO NETWORKS COM 697435105 11,413 1,659 17.01 1,527 38.94 0.0345
2017-05-12 2017-03-31 13F PALO ALTO NETWORKS COM 697435105 9,754 7,470 327.06 1,099 286.97 0.0267
2017-02-15 2016-12-31 13F PALO ALTO NETWORKS COM 697435105 2,284 188 8.97 284 -14.46 0.0064
2016-11-18 2016-09-30 13F/A-1 PALO ALTO NETWORKS COM 697435105 2,096 405 23.95 332 61.17 0.0083
2016-11-14 2016-09-30 13F PALO ALTO NETWORKS COM 697435105 2,096 332
2016-08-13 2016-06-30 13F PALO ALTO NETWORKS COM 697435105 1,691 621 58.04 206 19.77 0.0061
2016-05-13 2016-03-31 13F PALO ALTO NETWORKS COM 697435105 1,070 174 19.42 172 10.26 0.0054
2016-02-12 2015-12-31 13F PALO ALTO NETWORKS COM 697435105 896 79 9.67 156 13.04 0.0051
2015-11-13 2015-09-30 13F PALO ALTO NETWORKS COM 697435105 817 171 26.47 138 23.21 0.0048
2015-08-14 2015-06-30 13F PALO ALTO NETWORKS COM 697435105 646 -80 -11.02 112 6.67 0.0037
2015-05-06 2015-03-31 13F PALO ALTO NETWORKS COM 697435105 726 -240 -24.84 105 -9.48 0.0034
2015-02-12 2014-12-31 13F PALO ALTO NETWORKS COM 697435105 966 -146 -13.13 116 7.41 0.0038
2014-11-12 2014-09-30 13F PALO ALTO NETWORKS COM 697435105 1,112 -87 -7.26 108 9.09 0.0037
2014-07-29 2014-06-30 13F PALO ALTO NETWORKS COM 697435105 1,199 1,026 593.06 99 800.00 0.0034
2014-05-05 2014-03-31 13F PALO ALTO NETWORKS COM 697435105 173 0 0.00 11 22.22 0.0004
2014-02-13 2013-12-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 173 0 0.00 9 28.57 0.0003
2014-02-12 2013-12-31 13F PALO ALTO NETWORKS COM 697435105 173 9
2013-11-14 2013-09-30 13F PALO ALTO NETWORKS COM 697435105 173 -200 -53.62 7 -53.33 0.0003
2013-08-16 2013-06-30 13F PALO ALTO NETWORKS COM 697435105 373 373 15 0.0007
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.