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 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 $5.72T AUM 30.48% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

VPM

Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

Sands Capital Management's PANW Position: Q1 2026 in Review

Sands Capital Management reduced its Palo Alto Networks (PANW) stake by 1.2% in Q1 2026, selling an estimated $317K and leaving 161,078 shares worth $25.8M. The position accounts for 0.1% of the portfolio, ranked #52.

Sands Capital Management first reported a position in PANW in Q2 2015 and has held it in 22 quarters since. The position peaked at $736M in Q3 2018. 2,459 funds tracked by Wall St. Rank hold PANW as of Q1 2026.

Sands Capital Management held 161,078 shares of Palo Alto Networks worth $25.8M as of Q1 2026.
Sands Capital Management sold 1,885 Palo Alto Networks shares in Q1 2026, an estimated $317K.
Palo Alto Networks made up 0.1% of Sands Capital Management's portfolio in Q1 2026, its #52 holding.
Sands Capital Management first reported a position in Palo Alto Networks in Q2 2015 and has held it in 22 quarters since.
Sands Capital Management's Palo Alto Networks position peaked at $736M in Q3 2018.
2,459 funds tracked by Wall St. Rank held Palo Alto Networks as of Q1 2026.

Based on Sands Capital Management's 13F filing for Q1 2026, filed 8 May 2026.