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Zscaler
ZS

907 hedge funds and large institutions have $24.5B invested in Zscaler in 2025 Q3 according to their latest regulatory filings, with 129 funds opening new positions, 379 increasing their positions, 255 reducing their positions, and 114 closing their positions.

New
Increased
Maintained
Reduced
Closed

49% more repeat investments, than reductions

Existing positions increased: 379 | Existing positions reduced: 255

13% more first-time investments, than exits

New positions opened: 129 | Existing positions closed: 114

0% more funds holding

Funds holding: 904 → 907 (+3)

6% less call options, than puts

Call options by funds: $1.82B | Put options by funds: $1.94B

1.89% less ownership

Funds ownership: 53.5% → 51.61% (-1.9%)

6% less capital invested

Capital invested by funds: $26.1B → $24.5B (-$1.65B)

30% less funds holding in top 10

Funds holding in top 10: 10 → 7 (-3)

Holders
907
Holders Change
+3
Holders Change %
+0.33%
% of All Funds
11.9%
Holding in Top 10
7
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-30%
% of All Funds
0.09%
New
129
Increased
379
Reduced
255
Closed
114
Calls
$1.82B
Puts
$1.94B
Net Calls
-$122M
Net Calls Change
-$66.9M

Top Buyers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$307M
2
AQR Capital Management
AQR Capital Management
Connecticut
+$211M
3
Vanguard Group
Vanguard Group
Pennsylvania
+$186M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$152M
5
BlackRock
BlackRock
New York
+$122M

Top Sellers

1
UBS Group
UBS Group
Switzerland
-$353M
2
Citadel Advisors
Citadel Advisors
Florida
-$292M
3
UBS AM
UBS AM
Illinois
-$210M
4
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$184M
5
Two Sigma Advisers
Two Sigma Advisers
New York
-$156M
Name Holding Trade Value Shares
Change 		Change in
Stake
KIA
326
Knollwood Investment Advisory
Maryland
$2.59M – – –
MIFH
327
Migdal Insurance & Financial Holdings
Israel
$2.58M +$2.46M +8,617 New
BCM
328
Bridgeway Capital Management
Texas
$2.58M +$2.45M +8,600 New
STA
329
Summit Trail Advisors
New York
$2.55M +$1.9M +6,665 +363%
AUB
330
Atlantic Union Bankshares
Virginia
$2.53M +$2.27M +7,962 +1,638%
BM
331
Brandywine Managers
Delaware
$2.5M – – –
EH
332
Equitable Holdings
New York
$2.49M +$37.4K +131 +2%
Wealthfront Advisers
333
Wealthfront Advisers
California
$2.49M +$430K +1,509 +22%
SA
334
Strategic Advisors
New York
$2.47M +$3.42K +12 +0.1%
Pathstone Holdings
335
Pathstone Holdings
New Jersey
$2.45M -$54.7K -192 -2%
MCC
336
Malaga Cove Capital
California
$2.42M -$1.43K -5 -0.1%
OSAM
337
O'Shaughnessy Asset Management
Connecticut
$2.39M +$308K +1,079 +16%
AB
338
Amalgamated Bank
New York
$2.39M +$184K +646 +9%
WSA
339
Warm Springs Advisors
California
$2.38M – – –
CCC
340
Compass Capital Corp
Massachusetts
$2.37M -$183K -641 -8%
1WA
341
180 Wealth Advisors
Washington
$2.37M +$10.3K +36 +0.5%
FIA
342
Foundations Investment Advisors
Arizona
$2.35M +$31.9K +112 +1%
KPWS
343
Kestra Private Wealth Services
Texas
$2.3M -$76.4K -268 -3%
QCM
344
Qsemble Capital Management
New York
$2.3M +$903K +3,167 +70%
DAS
345
Dynamic Advisor Solutions
Arizona
$2.3M -$140K -491 -6%
MCM
346
MAI Capital Management
Ohio
$2.29M -$65.6K -230 -3%
Truist Financial
347
Truist Financial
North Carolina
$2.25M +$75.6K +265 +4%
BP
348
BNP Paribas
France
$2.25M – – –
CCIA
349
Campbell & Co Investment Adviser
Maryland
$2.23M +$2.13M +7,454 New
BIP
350
Bouvel Investment Partners
Pennsylvania
$2.22M +$41.1K +144 +2%
12 13
14
15 16

ZS Hedge Fund Activity: Q3 2025 in Review

907 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Zscaler (ZS) for Q3 2025, worth a combined $24.5B — down 6.3% from $26.1B a quarter earlier.

Buyers outnumbered sellers: 129 funds opened new ZS positions and 114 closed out — a net gain of 15 holders — while 379 added to existing stakes and 255 trimmed.

The largest buyer was T. Rowe Price Associates, adding an estimated $307M. The largest seller was UBS Group, cutting an estimated $353M.

  • 907 institutional investors held Zscaler (ZS) as of Q3 2025, up from 904 in Q2 2025.
  • Funds reported $24.5B of Zscaler stock for Q3 2025, down 6.3% quarter-over-quarter.
  • 129 funds opened new Zscaler positions in Q3 2025 and 114 closed out, a net change of +15 holders.
  • The largest Zscaler buyer in Q3 2025 was T. Rowe Price Associates, an estimated $307M added.
  • The largest Zscaler seller in Q3 2025 was UBS Group, an estimated $353M sold.

Based on aggregated 13F filings for Q3 2025.