L3VLUP
Quarter end
30 Sep 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 12 Nov 2025
Managers listing it
30
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q2 2025 and Q3 2025; 23 listed it in both
Shares listed
34,941,272
combined, among listed positions
Reported value
$7.1bn
combined, at the quarter end

Among the 95 comparable managers: 17 buyers (opened or added shares) and 13 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing PANW in Q3 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q2 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

30 of 30 holders

ActionFiling
Fidelity (FMR LLC)7,599,248$1.5bn0.08%Trimmed-2,772,47413 Nov 2025 (the filing on sec.gov)
Invesco Ltd5,289,011$1.1bn0.17%Added+252,49513 Nov 2025 (the filing on sec.gov)
T. Rowe Price Associates Inc4,552,030$927m0.10%Added+602,79914 Nov 2025 (the filing on sec.gov)
Jane Street Group LLC2,610,066$531m0.08%Addedn.a.14 Nov 2025 (the filing on sec.gov)
Citadel Advisors LLC2,529,379$515m0.08%Addedn.a.14 Nov 2025 (the filing on sec.gov)
AQR Capital Management LLC2,096,542$427m0.27%Added+143,89314 Nov 2025 (the filing on sec.gov)
Capital Research Global Investors2,062,988$420m0.08%Trimmed-1,295,42013 Nov 2025 (the filing on sec.gov)
Marshall Wace LLP1,713,968$349m0.35%Addedn.a.13 Nov 2025 (the filing on sec.gov)
AllianceBernstein LP1,690,807$344m0.11%Trimmed-330,33214 Nov 2025 (the filing on sec.gov)
Neuberger Berman Group LLC942,570$192m0.14%Trimmed-9,09427 Oct 2026 (the filing on sec.gov)
Janus Henderson Group Ltd778,465$158m0.07%Added+175,60414 Nov 2025 (the filing on sec.gov)
Wellington Management Group LLP627,658$128munder 0.1%Added+11,04714 Nov 2025 (the filing on sec.gov)
Squarepoint Ops LLC428,188$87m0.09%Trimmed-186,73714 Nov 2025 (the filing on sec.gov)
Holocene Advisors LP415,570$85m0.19%Newnew14 Nov 2025 (the filing on sec.gov)
Man Group PLC335,584$68m0.12%Trimmed-116,37514 Nov 2025 (the filing on sec.gov)
Two Sigma Investments LP323,061$66m0.10%Trimmed-211,19114 Nov 2025 (the filing on sec.gov)
Acadian Asset Management LLC289,694$59m0.10%Trimmed-228,94913 Nov 2025 (the filing on sec.gov)
Verition Fund Management LLC184,970$38m0.16%Added+66,51414 Nov 2025 (the filing on sec.gov)
Voloridge Investment Management LLC126,054$26m0.09%Trimmed-411,17814 Nov 2025 (the filing on sec.gov)
Bridgewater Associates LP89,094$18m0.07%Trimmed-1,444,19813 Nov 2025 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC64,714$13m0.07%Added+11,72114 Nov 2025 (the filing on sec.gov)
PDT Partners LLC43,207$8.8m0.55%Trimmed-717 Nov 2025 (the filing on sec.gov)
Brevan Howard Capital Management LP37,889$7.7munder 0.1%Added+5,11314 Nov 2025 (the filing on sec.gov)
Hudson Bay Capital Management LP31,711$6.5munder 0.1%Newnew15 Dec 2025 (the filing on sec.gov)
Quantbot Technologies LP23,147$4.7m0.13%Trimmed-13,99012 Nov 2025 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q2 2025 to Q3 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Exited (0)

No exit shown by a manager’s own filing.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
20 in Q3 2024 to 27 in Q2 2026

Tracked managers listing it, at least.

010203040split2014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PANW by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20137$402mn.a.n.a.
Q3 20134$417mn.a.n.a.
Q4 20134$863mn.a.n.a.
Q1 20149$1.1bnn.a.n.a.
Q2 201414$1.1bnn.a.n.a.
Q3 201416$1.1bnn.a.n.a.
Q4 201410$1.7bnn.a.n.a.
Q1 201518$2.3bnn.a.n.a.
Q2 201518$2.4bnn.a.n.a.
Q3 201518$2.2bnn.a.n.a.
Q4 201518$2.4bnn.a.n.a.
Q1 201618$2.3bnn.a.n.a.
Q2 201611$1.1bnn.a.n.a.
Q3 201612$1.7bnn.a.n.a.
Q4 201611$1.1bnn.a.n.a.
Q1 201713$799mn.a.n.a.
Q2 201714$1.2bnn.a.n.a.
Q3 201714$1.3bnn.a.n.a.
Q4 201716$1.4bnn.a.n.a.
Q1 201815$1.8bnn.a.n.a.
Q2 201817$2.1bnn.a.n.a.
Q3 201822$2.6bnn.a.n.a.
Q4 201820$1.7bnn.a.n.a.
Q1 201925$2.6bnn.a.n.a.
Q2 201916$1.8bnn.a.n.a.
Q3 201915$2.0bnn.a.n.a.
Q4 201917$2.9bnn.a.n.a.
Q1 202012$1.6bnn.a.n.a.
Q2 202022$2.6bnn.a.n.a.
Q3 202015$2.0bnn.a.n.a.
Q4 202023$4.0bnn.a.n.a.
Q1 202121$3.6bnn.a.n.a.
Q2 202120$3.9bnn.a.n.a.
Q3 202126$4.6bnn.a.n.a.
Q4 202121$5.4bnn.a.n.a.
Q1 202229$6.3bnn.a.n.a.
Q2 202232$5.0bnn.a.n.a.
Q3 202229$4.8bnn.a.n.a.
Q4 202221$3.4bnn.a.n.a.
Q1 202329$5.7bnn.a.n.a.
Q2 202332$6.9bnn.a.n.a.
Q3 202329$7.1bnn.a.n.a.
Q4 202325$6.8bn1116
Q1 202423$4.9bn815
Q2 202417$5.1bn129
Q3 202420$4.9bn148
Q4 2024 (split)23$5.3bn41
Q1 202524$5.6bn179
Q2 202525$6.9bn178
Q3 202530$7.1bn1713
Q4 202522$9.0bn1924
Q1 202621$7.6bn1723
Q2 202627$21.7bn2019

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

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How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own PANW, latest filings →Back to the 13F Explorer →