Sands Capital Management’s Palo Alto Networks PANW Stock Holding History

Sands Capital Management’s Portfolio PANW Stock Details PANW Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$10.7M	Sell	31,312 -129,766	-81%	-$29.7M	0.04%	57
2026 Q1	$25.8M	Sell	161,078 -1,885	-1%	-$317K	0.1%	52
2025 Q4	$30M	Sell	162,963 -31,656	-16%	-$6.39M	0.09%	56
2025 Q3	$39.6M	Buy	194,619 +39,756	+26%	+$7.61M	0.11%	56
2025 Q2	$31.7M	Buy	+154,863	New	+$28.8M	0.09%	60
2019 Q4	–	Sell	-7,803,816	Closed	-$265M	–	78
2019 Q3	$265M	Sell	7,803,816 -354,576	-4%	-$12.6M	0.85%	35
2019 Q2	$277M	Sell	8,158,392 -184,560	-2%	-$6.9M	0.82%	33
2019 Q1	$338M	Sell	8,342,952 -7,040,268	-46%	-$261M	1.04%	32
2018 Q4	$483M	Sell	15,383,220 -4,224,246	-22%	-$132M	1.72%	22
2018 Q3	$736M	Sell	19,607,466 -1,658,628	-8%	-$60.4M	2.08%	17
2018 Q2	$728M	Sell	21,266,094 -1,231,944	-5%	-$41.1M	2.09%	17
2018 Q1	$681M	Sell	22,498,038 -1,277,478	-5%	-$35.5M	2.01%	18
2017 Q4	$574M	Buy	23,775,516 +5,160,702	+28%	+$126M	1.74%	21
2017 Q3	$447M	Sell	18,614,814 -1,155,648	-6%	-$26.3M	1.34%	25
2017 Q2	$441M	Sell	19,770,462 -1,743,630	-8%	-$35.2M	1.33%	28
2017 Q1	$404M	Sell	21,514,092 -1,327,926	-6%	-$29.7M	1.27%	27
2016 Q4	$476M	Sell	22,842,018 -2,989,722	-12%	-$71.6M	1.66%	23
2016 Q3	$686M	Sell	25,831,740 -2,092,896	-7%	-$47.7M	2.02%	19
2016 Q2	$571M	Buy	27,924,636 +2,166,630	+8%	+$50.2M	1.76%	22
2016 Q1	$700M	Buy	25,758,006 +7,657,290	+42%	+$188M	2.07%	22
2015 Q4	$531M	Sell	18,100,716 -685,710	-4%	-$19.8M	1.37%	27
2015 Q3	$539M	Buy	18,786,426 +4,877,616	+35%	+$144M	1.5%	27
2015 Q2	$405M	Buy	+13,908,810	New	+$371M	1%	31

Other funds holding PANW

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Invesco Atlanta, Georgia $1.26T AUM 61.52% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM

Sands Capital Management's PANW Position: Q2 2026 in Review

Sands Capital Management reduced its Palo Alto Networks (PANW) stake by 81% in Q2 2026, selling an estimated $29.7M and leaving 31,312 shares worth $10.7M. The position accounts for 0.04% of the portfolio, ranked #57.

Sands Capital Management first reported a position in PANW in Q2 2015 and has held it in 23 quarters since. The position peaked at $736M in Q3 2018. 2,908 funds tracked by Wall St. Rank hold PANW as of Q2 2026.

Sands Capital Management held 31,312 shares of Palo Alto Networks worth $10.7M as of Q2 2026.
Sands Capital Management sold 129,766 Palo Alto Networks shares in Q2 2026, an estimated $29.7M.
Palo Alto Networks made up 0.04% of Sands Capital Management's portfolio in Q2 2026, its #57 holding.
Sands Capital Management first reported a position in Palo Alto Networks in Q2 2015 and has held it in 23 quarters since.
Sands Capital Management's Palo Alto Networks position peaked at $736M in Q3 2018.
2,908 funds tracked by Wall St. Rank held Palo Alto Networks as of Q2 2026.

Based on Sands Capital Management's 13F filing for Q2 2026, filed 13 Aug 2026.