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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
CCA
701
Checchi Capital Advisers
California
$234K +$5.42K +19 +2%
FCM
702
Fortis Capital Management
Washington
$233K -$2K -7 -0.9%
VFA
703
Valeo Financial Advisors
Indiana
$233K +$24.2K +85 +12%
GI
704
GAMMA Investing
California
$232K +$2.57K +9 +1%
EWP
705
Equity Wealth Partners
Missouri
$232K +$221K +774 New
OIA
706
OneDigital Investment Advisors
Kansas
$231K -$7.41K -26 -3%
CA
707
CoreCap Advisors
Michigan
$231K +$54.5K +191 +33%
TCM
708
Triumph Capital Management
Colorado
$230K -$30.2K -106 -12%
AWM
709
Ameliora Wealth Management
Switzerland
$228K +$39.9K +140 +23%
RA
710
Riversedge Advisors
Delaware
$225K +$214K +750 New
AWM
711
Adams Wealth Management
Utah
$222K – – –
CI
712
CacheTech Inc
Utah
$222K – – –
DACG
713
Donor Advised Charitable Giving
California
$222K – – –
PA
714
PharVision Advisers
Florida
$222K +$211K +740 New
MC
715
Moors & Cabot
Massachusetts
$220K -$570 -2 -0.3%
CWA
716
Canvas Wealth Advisors
Kansas
$220K -$3.99K -14 -2%
RA
717
RFG Advisory
Alabama
$214K +$1.71K +6 +0.8%
EGA
718
E&G Advisors
Texas
$213K +$202K +710 New
BIM
719
Bridges Investment Management
Nebraska
$212K +$202K +707 New
HKIMG
720
Hutchens & Kramer Investment Management Group
Indiana
$210K +$200K +702 New
CI
721
Corient IA
Florida
$210K – – –
WTG
722
West Tower Group
Virginia
$210K +$200K +700 New
CAI
723
Capital Advisors Inc
Oklahoma
$209K +$199K +699 New
VCP
724
Vista Capital Partners
Oregon
$208K +$198K +693 New
MCM
725
Mengis Capital Management
Oregon
$207K +$5.7K +20 +3%
27 28
29
30 31

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.