Zscaler
904 hedge funds and large institutions have $26.1B invested in Zscaler in 2025 Q2 according to their latest regulatory filings, with 213 funds opening new positions, 331 increasing their positions, 248 reducing their positions, and 68 closing their positions.
213% more first-time investments, than exits
New positions opened: 213 | Existing positions closed: 68
56% more capital invested
Capital invested by funds: $16.7B → $26.1B (+$9.41B)
33% more repeat investments, than reductions
Existing positions increased: 331 | Existing positions reduced: 248
25% more funds holding in top 10
Funds holding in top 10: 8 → 10 (+2)
18% more funds holding
Funds holding: 766 → 904 (+138)
0.94% less ownership
Funds ownership: 54.44% → 53.5% (-0.94%)
3% less call options, than puts
Call options by funds: $1.99B | Put options by funds: $2.05B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
+$469M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$409M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$272M |
| 4 |
Federated Hermes
Pittsburgh,
Pennsylvania
|
+$222M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$206M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$346M |
| 2 |
HSBC Holdings
London,
United Kingdom
|
-$332M |
| 3 |
Marshall Wace
London,
United Kingdom
|
-$322M |
| 4 |
Nomura Holdings
Tokyo,
Japan
|
-$278M |
| 5 |
Goldman Sachs
New York
|
-$270M |
ZS Hedge Fund Activity: Q2 2025 in Review
904 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Zscaler (ZS) for Q2 2025, worth a combined $26.1B — up 56% from $16.7B a quarter earlier.
Buyers outnumbered sellers: 213 funds opened new ZS positions and 68 closed out — a net gain of 145 holders — while 331 added to existing stakes and 248 trimmed.
The largest buyer was D.E. Shaw & Co, adding an estimated $469M. The largest seller was Deutsche Bank, cutting an estimated $346M.
- 904 institutional investors held Zscaler (ZS) as of Q2 2025, up from 766 in Q1 2025.
- Funds reported $26.1B of Zscaler stock for Q2 2025, up 56% quarter-over-quarter.
- 213 funds opened new Zscaler positions in Q2 2025 and 68 closed out, a net change of +145 holders.
- The largest Zscaler buyer in Q2 2025 was D.E. Shaw & Co, an estimated $469M added.
- The largest Zscaler seller in Q2 2025 was Deutsche Bank, an estimated $346M sold.
Based on aggregated 13F filings for Q2 2025.