Fairfield, Bush & Co. reports 0.56% increase in ownership of PANW / Palo Alto Networks, Inc.

Palo Alto Networks, Inc.

US ˙ NasdaqGS ˙ US6974351057

Security	PANW / Palo Alto Networks, Inc.
Institution	Fairfield, Bush & Co.
Latest Disclosed Ownership	5,741 shares
Latest Disclosed Value	$ 920,397

On May 12, 2026 - Fairfield, Bush & Co. filed a 13F-HR form disclosing ownership of 5,741 shares of Palo Alto Networks, Inc. (US:PANW) valued at $920,397 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 5,709 shares of Palo Alto Networks, Inc.. This represents a change in shares of 0.56% during the quarter. The current value of the position is $1,609,949 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	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-12	2026-03-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	5,741	32	0.56	920	-12.46	0.5110
2026-02-13	2025-12-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	5,709	230	4.20	1,052	-5.74	0.5548
2025-11-14	2025-09-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	5,479	145	2.72	1,116	2.20	0.5728
2025-08-15	2025-06-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	5,334	-215	-3.87	1,092	15.33	0.6170
2025-05-13	2025-03-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	5,549	165	3.06	947	-3.37	0.6006
2025-02-13	2024-12-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	5,384	2,397	80.25	980	-4.02	0.5761
2024-11-12	2024-09-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	2,987	53	1.81	1,021	2.62	0.6072
2024-08-15	2024-06-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	2,934	265	9.93	995	31.13	0.5960
2024-05-15	2024-03-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	2,669	115	4.50	758	0.66	0.4495
2024-02-13	2023-12-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	2,554	-160	-5.90	753	18.40	0.4417
2023-11-15	2023-09-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	2,714	-5,895	-68.47	636	-71.08	0.4157
2023-08-15	2023-06-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	8,609	1,500	21.10	2,200	54.97	0.6057
2023-05-15	2023-03-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	7,109	7,109		1,420		0.5002
2022-11-07	2022-09-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	0	-3	-100.00	0	-100.00
2022-08-09	2022-06-30	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	3	0	0.00	1	-50.00	0.0006
2022-05-06	2022-03-31	13F	PALO ALTO NETWORKS INC COM	Stock	697435105	3	3		2		0.0009
2022-05-12	2021-12-31	13F/A-1	Palo Alto Networks	Stock	697435105	0	-2,000	-100.00	0	-100.00
2022-02-09	2021-12-31	13F	Palo Alto Networks	Stock	697435105	0	-2,000		0
2021-11-08	2021-09-30	13F	Palo Alto Networks	Stock	697435105	2,000	-3	-0.15	958	28.94	0.3112
2021-08-02	2021-06-30	13F	Palo Alto Networks	COM	697435105	2,003	0	0.00	743	15.19	0.2019
2021-05-14	2021-03-31	13F	Palo Alto Networks	COM	697435105	2,003	0	0.00	645	-9.41	0.1841
2021-02-12	2020-12-31	13F	Palo Alto Networks	COM	697435105	2,003	0	0.00	712	45.31	0.2076
2020-11-18	2020-09-30	13F	Palo Alto Networks	COM	697435105	2,003	-10	-0.50	490	6.06	0.1565
2020-08-13	2020-06-30	13F	Palo Alto Networks	COM	697435105	2,013	0	0.00	462	40.00	0.1648
2020-05-13	2020-03-31	13F	Palo Alto Networks	COM	697435105	2,013	0	0.00	330	-29.18	0.1372
2020-02-12	2019-12-31	13F	Palo Alto Networks	COM	697435105	2,013	3	0.15	466	13.66	0.1715
2019-11-13	2019-09-30	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	410	0.00	0.1417
2019-08-13	2019-06-30	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	410	-15.98	0.1397
2019-05-15	2019-03-31	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	488	28.76	0.1620
2019-02-11	2018-12-31	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	379	-16.34	0.1304
2018-11-13	2018-09-30	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	453	9.69	0.1272
2018-08-16	2018-06-30	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	413	13.15	0.1214
2018-05-09	2018-03-31	13F	Palo Alto Networks	COM	697435105	2,010	0	0.00	365	25.43	0.1060
2018-02-22	2017-12-31	13F	Palo Alto Networks	COM	697435105	2,010	2,010		291		0.0802

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.