Palo Alto Networks, Inc. (PANW) is held by institutional investors who disclose positions via SEC 13F filings. View the full list of institutional holders on HoldingsIntel.

Are institutions buying or selling PANW?

HoldingsIntel tracks quarter-over-quarter changes in institutional positions for Palo Alto Networks, Inc., showing new buyers, position increases, decreases, and exits with conviction-weighted sentiment.

What is the Smart Money Verdict on PANW?

The Smart Money Verdict combines four independent signals (institutional 13F activity, insider trades, activist filings, and congressional trades) into a single assessment for Palo Alto Networks, Inc..

Is institutional money flowing into PANW?

350 institutional investors hold Palo Alto Networks, Inc. (PANW). View detailed buyer/seller breakdown on HoldingsIntel.

What do hedge funds think about PANW?

Track institutional sentiment and conviction scores for Palo Alto Networks, Inc. (PANW) including Smart Money Verdict and position changes on HoldingsIntel.

Palo Alto Networks, Inc.

PANW·697435105·US·equity·Technology - Software - Infrastructure-13D/G

PANW (Palo Alto Networks, Inc.) is held by 350 institutional investors as of Q4 2025. Largest holders: VANGUARD GROUP INC ($12.5B), BlackRock, Inc. ($11B), MORGAN STANLEY ($5.6B). Net institutional sentiment: Mixed.

350

Holders

Avg rating(25 Elite)

$90.6B

Total Value

61% (363)

Fund Consensus

219 buying - 141 selling

Smart Money VerdictView all

44Weak MomentumSplit Signals

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See how PANW's score breaks down across 4 SEC sources

Held by 350 funds

25 elite

Who's Trading

InsiderKey John P.Sell $272KApr 8, 2026

Insider

13F: Dec 31, 2025Insider & Congress: Updated regularly

CongressRohit KhannaBuyMar 30, 2026

ActivistThe Vanguard Group0.0%Mar 27, 2026

InsiderArora NikeshBuy $10.0MMar 27, 2026

CongressRohit KhannaBuyMar 23, 2026

CongressGilbert CisnerosBuy $1,001 - $15,000Mar 13, 2026

CongressJosh GottheimerSale $1,001 - $15,000Feb 27, 2026

CongressRohit KhannaBuyFeb 24, 2026

Fund	Action	Shares	Value	Weight	Est. P&L	Conviction
VANGUARD GROUP INC	Increased	67.9M(+4.1%)	$12.5B	0.2%	-12.07%	40
BlackRock, Inc.	Increased	59.6M(+7.4%)	$11B	0.2%	-15.58%	41
MORGAN STANLEY	Decreased	30.5M(-1.0%)	$5.6B	0.3%	-12.55%	0
STATE STREET CORP	Increased	30.3M(+2.0%)	$5.6B	0.2%	-7.27%	39
BANK OF AMERICA CORP /DE/	Increased	19.4M(+11.0%)	$3.6B	0.3%	-15.97%	42
GEODE CAPITAL MANAGEMENT, LLC	Increased	16M(+3.5%)	$2.9B	0.2%	+5.43%	40
JPMORGAN CHASE & CO	Decreased	11.5M(-27.0%)	$2.1B	0.1%	-15.15%	0
UBS Group AG	Increased	8.8M(+9.3%)	$1.6B	0.3%	-0.74%	42
FMR LLC	Increased	8.1M(+7.1%)	$1.5B	0.1%	-13.82%	34
ROYAL BANK OF CANADA	Decreased	7.6M(-23.4%)	$1.4B	0.2%	-18.22%	0
NORTHERN TRUST CORP	Decreased	7.5M(-0.1%)	$1.4B	0.2%	+9.69%	0
Nuveen, LLC	Decreased	7.2M(-5.8%)	$1.3B	0.3%	-15.05%	0
FIRST TRUST ADVISORS LP	Increased	6.2M(+4.8%)	$1.1B	0.8%	+1.08%	47
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	Increased	6.1M(+3.1%)	$1.1B	0.2%	-2.24%	39
Invesco Ltd.	Increased	5.8M(+10.6%)	$1.1B	0.2%	-3.36%	42
WELLS FARGO & COMPANY/MN	Increased	5.7M(+2.5%)	$1.1B	0.2%	-4.41%	39
Clearbridge Investments, LLC	Decreased	5.6M(-4.4%)	$1B	0.8%	+13.31%	0
Legal & General Group Plc	Decreased	5.4M(-0.5%)	$997.2M	0.2%	+16.64%	0
AMERIPRISE FINANCIAL INC	Decreased	5.3M(-5.5%)	$972M	0.2%	+17.33%	0
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	Increased	4.9M(+4.5%)	$907.7M	0.1%	+3.02%	40
GOLDMAN SACHS GROUP INC	Decreased	4.6M(-14.3%)	$845M	0.1%	-16.67%	0
Pictet Asset Management Holding SA	Increased	4.4M(+7.9%)	$802.7M	0.8%	-6.51%	48
BARCLAYS PLC	Decreased	4.1M(-29.4%)	$754.5M	0.2%	-6.23%	0
Bank of New York Mellon Corp	Increased	4.1M(+2.0%)	$747.5M	0.1%	+11.49%	39
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main	Increased	3.8M(+13.4%)	$708.1M	0.6%	-20.63%	50
Amundi	Increased	3.8M(+6.7%)	$694.3M	0.2%	-2.12%	40
DEUTSCHE BANK AG\	Increased	3.6M(+9.8%)	$655.4M	0.2%	-3.06%	42
CITADEL ADVISORS LLC	Increased	3.3M(+29.2%)	$601.8M	0.1%	-20.59%	40
BANK OF MONTREAL /CAN/	Decreased	3M(-19.6%)	$560.8M	0.2%	-17.96%	0
FRANKLIN RESOURCES INC	Decreased	3M(-26.2%)	$549M	0.1%	+0.40%	0
Swedbank AB	Increased	2.8M(+17.9%)	$519.6M	0.5%	-16.10%	52
AQR CAPITAL MANAGEMENT LLC	Increased	2.6M(+22.8%)	$474.3M	0.2%	-14.37%	45
NORDEA INVESTMENT MANAGEMENT AB	Increased	2.5M(+3.1%)	$464.3M	0.4%	-6.28%	39
RAYMOND JAMES FINANCIAL INC	Increased	2.3M(+3.7%)	$427.7M	0.1%	-15.92%	39
SCHRODER INVESTMENT MANAGEMENT GROUP	Increased	2.3M(+0.1%)	$420M	0.3%	+9.88%	37
STIFEL FINANCIAL CORP	Increased	2.2M(+0.3%)	$396.3M	0.4%	+12.07%	37
Sumitomo Mitsui Trust Group, Inc.	Decreased	2.1M(-0.3%)	$382.5M	0.2%	+8.21%	0
Capital Research Global Investors	Decreased	2M(-3.2%)	$367.8M	0.1%	+6.29%	0
MARSHALL WACE, LLP	Increased	1.9M(+13.4%)	$357.9M	0.3%	-22.65%	42
LPL Financial LLC	Increased	1.9M(+1.4%)	$345.4M	0.1%	-3.33%	31
Swiss National Bank	Decreased	1.9M(-3.5%)	$341.7M	0.2%	+19.24%	0
CITIGROUP INC	Decreased	1.8M(-35.9%)	$331.4M	0.1%	-14.55%	0
BNP PARIBAS FINANCIAL MARKETS	Increased	1.8M(+68.4%)	$330.1M	0.1%	-8.16%	55
National Pension Service	Increased	1.8M(+1.7%)	$323.1M	0.2%	+5.54%	38
ABN AMRO Bank N.V.	Increased	1.7M(+1.1%)	$318.3M	3.0%	-10.83%	54
VOYA INVESTMENT MANAGEMENT LLC	Increased	1.7M(+8.8%)	$315.3M	0.3%	+27.87%	40
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	Decreased	1.7M(-9.1%)	$314.5M	0.2%	-4.26%	0
Mirova US LLC	Decreased	1.7M(-2.9%)	$307.2M	3.1%	-5.88%	0
ALLIANCEBERNSTEIN L.P.	Decreased	1.6M(-2.5%)	$303.7M	0.1%	+5.65%	0
Mitsubishi UFJ Asset Management Co., Ltd.	Increased	1.5M(+7.0%)	$277.3M	0.2%	-5.23%	40
HSBC HOLDINGS PLC	Increased	1.5M(+4.7%)	$268.5M	0.1%	+0.51%	39
FIFTH THIRD BANCORP	Decreased	1.4M(-2.9%)	$256.6M	0.8%	+12.80%	0
US BANCORP \DE\	Increased	1.4M(+0.5%)	$252.6M	0.3%	+11.87%	37
AMERICAN CENTURY COMPANIES INC	Increased	1.3M(+94.3%)	$240.6M	0.1%	-15.29%	58
BLAIR WILLIAM & CO/IL	Increased	1.3M(+1.0%)	$230.3M	0.6%	+12.74%	44
ProShare Advisors LLC	Increased	1.2M(+42.7%)	$227.8M	0.4%	-6.29%	49
PRINCIPAL FINANCIAL GROUP INC	Increased	1.2M(+4.6%)	$225.2M	0.1%	-6.29%	38
RHUMBLINE ADVISERS	Decreased	1.2M(-0.9%)	$218.3M	0.2%	+10.51%	0
Corient Private Wealth LLC	Increased	1.3M(+10.6%)	$217.5M	0.3%	-0.44%	41
DIMENSIONAL FUND ADVISORS LP	Decreased	1.2M(-1.4%)	$215.3M	0.0%	+4.67%	0
VICTORY CAPITAL MANAGEMENT INC	Decreased	1.1M(-53.6%)	$211M	0.1%	-12.82%	0
LAZARD ASSET MANAGEMENT LLC	Increased	1.1M(+59.3%)	$208.9M	0.4%	-16.63%	52
Candriam S.C.A.	Increased	1.1M(+3.7%)	$197.7M	1.0%	-1.47%	45
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	Increased	1M(+0.4%)	$190.9M	0.2%	+20.60%	37
FEDERATED HERMES, INC.	Increased	1M(+83.8%)	$189.8M	0.3%	-10.46%	56
Compagnie Lombard Odier SCmA	Decreased	1M(-2.8%)	$185.8M	2.0%	+11.43%	0
Universal- Beteiligungs- und Servicegesellschaft mbH	Increased	997,868(+2.2%)	$185.2M	0.3%	-15.67%	37
Rockefeller Capital Management L.P.	Increased	982,729(+3.9%)	$181M	0.3%	+4.63%	38
NATIONAL BANK OF CANADA /FI/	Increased	974,404(+44.5%)	$179.5M	0.2%	-13.51%	49
CANADA PENSION PLAN INVESTMENT BOARD	Increased	973,400(+153.0%)	$179.3M	0.1%	-14.28%	59
Neuberger Berman Group LLC	Increased	970,223(+2.9%)	$178.7M	0.1%	+11.86%	37
PRIMECAP MANAGEMENT CO/CA/	Decreased	968,780(-0.4%)	$178.4M	0.1%	+23.40%	0
ENVESTNET ASSET MANAGEMENT INC	Decreased	964,251(-17.1%)	$177.6M	0.1%	+7.55%	0
CIBC Private Wealth Group LLC	Decreased	955,998(-2.4%)	$176.1M	0.3%	+35.85%	0
B. Metzler seel. Sohn & Co. AG	Increased	951,880(+0.6%)	$175.8M	1.5%	+10.72%	48
Cerity Partners LLC	Increased	949,186(+5.4%)	$174.8M	0.3%	+3.66%	38
RENAISSANCE TECHNOLOGIES LLC	Increased	908,500(+1226.3%)	$167.3M	0.3%	-16.92%	59
Eurizon Capital SGR S.p.A.	New	893,549	$165M	0.5%	-16.46%	59
Bank Julius Baer & Co. Ltd, Zurich	Decreased	886,728(-4.9%)	$163.7M	0.5%	-11.98%	0
OMERS ADMINISTRATION Corp	Unchanged	858,859	$158.2M	1.1%	-23.21%	0
Rathbones Group PLC	Decreased	857,605(-1.3%)	$158M	0.6%	+5.69%	0
SUSQUEHANNA INTERNATIONAL GROUP, LLP	Increased	840,157(+3.8%)	$154.8M	0.0%	-22.20%	31
KING LUTHER CAPITAL MANAGEMENT CORP	Increased	818,841(+6.7%)	$150.8M	0.6%	-18.68%	46
Zurcher Kantonalbank (Zurich Cantonalbank)	Increased	814,897(+21.4%)	$150.1M	0.3%	-3.63%	43
TRUIST FINANCIAL CORP	Increased	793,903(+2.1%)	$146.2M	0.2%	-1.66%	37
DANSKE BANK A/S	Increased	778,701(+4.5%)	$143.4M	0.3%	-12.67%	38
NEW YORK STATE COMMON RETIREMENT FUND	Decreased	776,092(-1.1%)	$143M	0.2%	+18.90%	0
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	Decreased	762,134(-4.3%)	$140.4M	0.2%	-23.47%	0
Vident Advisory, LLC	Decreased	739,628(-5.1%)	$136.2M	1.2%	-14.98%	0
JANUS HENDERSON GROUP PLC	Decreased	738,433(-5.1%)	$136M	0.1%	-5.30%	0
TCW GROUP INC	Decreased	728,743(-8.2%)	$134.2M	1.0%	+7.84%	0
Mariner, LLC	Increased	709,685(+5.2%)	$130.7M	0.2%	+0.17%	38
Robeco Institutional Asset Management B.V.	Increased	707,882(+7.7%)	$130.4M	0.2%	-9.36%	39
CAPTRUST FINANCIAL ADVISORS	Decreased	693,266(-1.4%)	$127.7M	0.2%	+6.02%	0
HighTower Advisors, LLC	Decreased	684,472(-4.0%)	$126.1M	0.1%	-0.09%	0
Korea Investment CORP	Increased	682,172(+1.1%)	$125.7M	0.2%	+3.67%	36
CREDIT AGRICOLE S A	Decreased	647,855(-25.7%)	$119.3M	0.3%	-16.10%	0
JANE STREET GROUP, LLC	Decreased	642,803(-75.4%)	$118.4M	0.0%	-23.46%	0
MANUFACTURERS LIFE INSURANCE COMPANY, THE	Increased	636,998(+60.3%)	$117.4M	0.1%	-6.91%	43
WELLINGTON MANAGEMENT GROUP LLP	Increased	636,632(+1.4%)	$117.3M	0.0%	+5.60%	30
Russell Investments Group, Ltd.	Increased	607,243(+5.3%)	$112.1M	0.1%	-1.32%	38
Aberdeen Group plc	Increased	601,775(+0.4%)	$110.8M	0.2%	-6.11%	36
Ensign Peak Advisors, Inc	Increased	601,589(+3.5%)	$110.8M	0.2%	-1.04%	37
HUNTINGTON NATIONAL BANK	Increased	588,541(+2.9%)	$108.4M	0.7%	-9.28%	44
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	Decreased	586,948(-2.3%)	$108.1M	0.2%	+18.12%	0
Tidal Investments LLC	Increased	574,196(+16.2%)	$105.8M	0.3%	-17.88%	41
AVIVA PLC	Increased	568,804(+5.4%)	$104.8M	0.2%	-7.47%	38
Focus Partners Wealth	Increased	565,485(+5.4%)	$104.2M	0.1%	-12.03%	38
Alecta Tjanstepension Omsesidigt	New	555,000	$102.2M	0.4%	-16.46%	50
CONGRESS ASSET MANAGEMENT CO	Decreased	546,067(-2.0%)	$100.6M	0.7%	-11.34%	0
DAVENPORT & Co LLC	Decreased	536,904(-0.6%)	$99.2M	0.5%	+2.63%	0
NewEdge Advisors, LLC	Increased	525,780(+389.5%)	$96.8M	0.4%	-14.30%	58
Baird Financial Group, Inc.	Decreased	502,107(-4.2%)	$92.5M	0.1%	+10.19%	0
TD Waterhouse Canada Inc.	Increased	501,300(+2.6%)	$92.3M	0.6%	+5.44%	43
COMMONWEALTH EQUITY SERVICES, LLC	Decreased	497,062(-8.3%)	$91.6M	0.1%	+8.13%	0
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	Increased	496,967(+2.9%)	$91.5M	0.1%	+3.40%	31
Quantinno Capital Management LP	Increased	493,364(+8.6%)	$90.9M	0.2%	-17.92%	39
COMMERCE BANK	Increased	492,848(+14.6%)	$90.8M	0.5%	-18.85%	48
SCOTIA CAPITAL INC.	Increased	487,452(+147.7%)	$89.8M	0.4%	-14.02%	58
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	Decreased	460,550(-2.8%)	$85.9M	0.1%	-3.58%	0
OSAIC HOLDINGS, INC.	Increased	454,583(+8.2%)	$83.7M	0.1%	+3.06%	39
WESTFIELD CAPITAL MANAGEMENT CO LP	Increased	448,460(+21.1%)	$82.6M	0.3%	-22.34%	43
Mirae Asset Global Investments Co., Ltd.	Increased	436,407(+15.9%)	$80.4M	0.2%	-7.88%	41
NOMURA ASSET MANAGEMENT CO LTD	Decreased	420,272(-9.4%)	$77.4M	0.2%	+1.55%	0
Champlain Investment Partners, LLC	Decreased	418,715(-16.8%)	$77.1M	0.8%	+28.83%	0
Federation des caisses Desjardins du Quebec	Decreased	416,128(-0.3%)	$76.7M	0.3%	-9.58%	0
Cetera Investment Advisers	Decreased	416,008(-15.8%)	$76.6M	0.1%	-10.21%	0
Lansforsakringar Fondforvaltning AB (publ)	Increased	413,433(+3.7%)	$76.2M	0.4%	-16.10%	37
APG Asset Management N.V.	Decreased	481,095(-4.5%)	$75.5M	0.2%	-12.64%	0
Steward Partners Investment Advisory, LLC	Decreased	409,391(-8.2%)	$75.4M	0.4%	-15.52%	0
PINEBRIDGE INVESTMENTS LLC	New	405,018	$74.6M	0.5%	-16.46%	58
TD ASSET MANAGEMENT INC	Increased	398,503(+7.6%)	$73.4M	0.1%	+7.55%	32
PFA Pension, Forsikringsaktieselskab	New	365,622	$68.3M	0.2%	-16.46%	49
STATE OF WISCONSIN INVESTMENT BOARD	Increased	369,914(+5.6%)	$68.1M	0.2%	+12.88%	37
Vontobel Holding Ltd.	Increased	367,832(+5.8%)	$67.8M	0.2%	-5.92%	37
NEOS Investment Management LLC	Increased	367,464(+32.4%)	$67.7M	0.4%	-17.50%	45
CIBC Asset Management Inc	Increased	364,357(+29.1%)	$67.1M	0.2%	+3.94%	44
TORONTO DOMINION BANK	Decreased	361,980(-6.6%)	$66.7M	0.1%	-17.52%	0
PANAGORA ASSET MANAGEMENT INC	Decreased	358,627(-32.5%)	$66.1M	0.2%	-21.21%	0
Asset Management One Co., Ltd.	Increased	349,273(+1.1%)	$65.2M	0.2%	+16.87%	36
Erste Asset Management GmbH	Increased	347,132(+22.3%)	$65M	0.5%	-13.19%	50
Chevy Chase Trust Holdings, LLC	Increased	347,508(+1.7%)	$64M	0.2%	-0.23%	36
Skandinaviska Enskilda Banken AB (publ)	Increased	344,029(+115.3%)	$63.4M	0.3%	-7.46%	57
Mitsubishi UFJ Trust & Banking Corp	Decreased	340,209(-8.7%)	$62.7M	0.1%	+14.01%	0
Lido Advisors, LLC	Increased	309,630(+0.6%)	$62.1M	0.2%	-6.81%	35
PRUDENTIAL FINANCIAL INC	Decreased	328,669(-9.8%)	$60.5M	0.1%	-0.14%	0
ROYAL LONDON ASSET MANAGEMENT LTD	Decreased	328,098(-0.6%)	$60.4M	0.1%	+10.95%	0
STRS OHIO	Decreased	308,976(-0.9%)	$56.9M	0.2%	-2.90%	0
Allianz Asset Management GmbH	Increased	298,315(+11.4%)	$54.9M	0.1%	+0.29%	33
GUGGENHEIM CAPITAL LLC	Decreased	291,313(-6.4%)	$53.7M	0.4%	+9.90%	0
KLP KAPITALFORVALTNING AS	Increased	290,142(+3.2%)	$53.4M	0.2%	-15.39%	36
Rafferty Asset Management, LLC	Decreased	284,483(-2.5%)	$52.4M	0.2%	-2.30%	0
BANK OF NOVA SCOTIA	Increased	284,427(+23.3%)	$52.4M	0.1%	-12.06%	36
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	Increased	273,350(+4.2%)	$50.4M	0.2%	+19.42%	37
Creative Planning	Increased	270,870(+13.3%)	$49.9M	0.0%	-4.44%	33
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC	Decreased	267,507(-24.3%)	$49.3M	0.1%	-9.01%	0
Pacer Advisors, Inc.	Increased	257,555(+15.0%)	$47.4M	0.1%	-12.52%	40
Phoenix Financial Ltd.	Decreased	254,665(-44.8%)	$46.9M	0.5%	-20.45%	0
MML INVESTORS SERVICES, LLC	Increased	252,895(+9.0%)	$46.6M	0.1%	-7.51%	38
Swiss Life Asset Management Ltd	Increased	250,135(+9.7%)	$46.1M	0.2%	-11.89%	38
ADAGE CAPITAL PARTNERS GP, L.L.C.	Increased	248,776(+167.8%)	$45.8M	0.1%	-11.28%	47
PNC FINANCIAL SERVICES GROUP, INC.	Decreased	247,391(-0.8%)	$45.6M	0.0%	-1.32%	0
Holocene Advisors, LP	Decreased	243,734(-41.4%)	$44.9M	0.1%	-23.47%	0
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	Increased	240,488(+10.0%)	$44.3M	0.1%	-13.06%	32
LGT Group Foundation	Increased	230,659(+9.2%)	$43.1M	0.5%	-13.48%	38
CIBC WORLD MARKET INC.	Decreased	229,954(-20.5%)	$42.4M	0.1%	-0.57%	0
State of New Jersey Common Pension Fund D	Decreased	229,156(-1.5%)	$42.2M	0.2%	+17.97%	0
Sequoia Financial Advisors, LLC	Decreased	221,141(-5.6%)	$40.7M	0.2%	+4.97%	0
State of Tennessee, Department of Treasury	Increased	229,939(+0.6%)	$40.7M	0.1%	-4.00%	35
MAIRS & POWER INC	Increased	220,647(+98.3%)	$40.6M	0.4%	-16.89%	56
Resona Asset Management Co.,Ltd.	Decreased	215,477(-2.1%)	$39.8M	0.2%	-5.47%	0
GLENMEDE TRUST CO NA	Increased	210,858(+75.8%)	$38.8M	0.2%	-14.83%	53
IEQ CAPITAL, LLC	Increased	204,710(+14.4%)	$37.7M	0.1%	-10.93%	40
&PARTNERS	Increased	201,599(+74.2%)	$37.2M	0.2%	-15.69%	52
Calamos Advisors LLC	Decreased	199,253(-3.1%)	$36.7M	0.1%	-3.45%	0
COMERICA BANK	Decreased	198,502(-5.8%)	$36.6M	0.1%	+0.66%	0
Life Cycle Investment Partners Ltd	New	196,738	$36.2M	0.3%	-16.46%	48
MetLife Investment Management, LLC	Decreased	196,143(-0.3%)	$36.1M	0.2%	+0.06%	0
MACKENZIE FINANCIAL CORP	Increased	192,183(+69.4%)	$35.8M	0.0%	-6.51%	43
Sanctuary Advisors, LLC	Increased	194,056(+6.7%)	$35.7M	0.2%	-12.43%	37
Beacon Pointe Advisors, LLC	Increased	193,848(+0.7%)	$35.7M	0.3%	+3.57%	35
Arizona State Retirement System	Decreased	190,704(-2.1%)	$35.1M	0.2%	+16.93%	0
SEI INVESTMENTS CO	Decreased	189,674(-2.0%)	$34.9M	0.0%	+6.26%	0
JONES FINANCIAL COMPANIES LLLP	Increased	187,452(+30.5%)	$34.5M	0.0%	-16.15%	37
NISSAY ASSET MANAGEMENT CORP /JAPAN	Increased	185,634(+8.1%)	$34.2M	0.2%	-0.43%	37
Allen Investment Management, LLC	Increased	184,801(+0.3%)	$34.1M	0.4%	+11.77%	35
Czech National Bank	Increased	180,355(+6.3%)	$33.2M	0.2%	-6.05%	37
STATE OF MICHIGAN RETIREMENT SYSTEM	Decreased	179,100(-0.8%)	$33M	0.2%	+13.22%	0
EP Wealth Advisors, LLC	Increased	179,052(+44.3%)	$33M	0.2%	-12.62%	47
Tredje AP-fonden	Decreased	175,607(-33.8%)	$32.3M	0.2%	-7.33%	0
MERCER GLOBAL ADVISORS INC /ADV	Increased	174,226(+3.4%)	$32.1M	0.0%	-7.59%	30
XPONANCE LLC	Increased	173,939(+7.5%)	$32M	0.2%	+5.04%	37
D. E. Shaw & Co., Inc.	Decreased	172,886(-10.4%)	$31.8M	0.0%	-21.70%	0
Pinnacle Financial Partners, Inc.	New	163,869	$30.2M	0.2%	-16.46%	48
Man Group plc	Decreased	163,592(-51.3%)	$30.1M	0.1%	-15.19%	0
SANDS CAPITAL MANAGEMENT, LLC	Decreased	162,963(-16.3%)	$30M	0.1%	-22.44%	0
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	Decreased	159,098(-0.8%)	$29.3M	0.1%	-2.67%	0
SHELTON CAPITAL MANAGEMENT	Increased	157,467(+6.4%)	$29M	0.6%	-5.13%	43
FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND	Decreased	155,525(-1.0%)	$28.6M	0.2%	-2.26%	0
FORSTA AP-FONDEN	Decreased	145,900(-0.1%)	$26.9M	0.2%	+3.41%	0
Retirement Systems of Alabama	Increased	145,507(+2.1%)	$26.8M	0.1%	-0.49%	29
Kestra Advisory Services, LLC	Increased	142,072(+12.0%)	$26.2M	0.1%	-4.04%	38
BROWN ADVISORY INC	Increased	141,124(+8.5%)	$26M	0.0%	+26.00%	31
DnB Asset Management AS	Increased	140,548(+4.6%)	$25.9M	0.1%	-1.84%	30
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	Increased	136,848(+46.0%)	$25.2M	0.1%	+5.45%	39
Verition Fund Management LLC	Decreased	131,238(-29.1%)	$24.2M	0.1%	-19.24%	0
Rakuten Investment Management, Inc.	Increased	127,298(+423x)	$23.8M	0.1%	-16.45%	46
CIBC WORLD MARKETS CORP	Decreased	128,757(-1.6%)	$23.7M	0.1%	-10.94%	0
ZACKS INVESTMENT MANAGEMENT	Decreased	127,073(-1.9%)	$23.4M	0.2%	+26.27%	0
Banco Santander, S.A.	Increased	125,202(+188.8%)	$23.1M	0.2%	-13.32%	55
UniSuper Management Pty Ltd	Decreased	122,870(-3.5%)	$22.6M	0.1%	-9.27%	0
TEACHER RETIREMENT SYSTEM OF TEXAS	Increased	121,770(+18.4%)	$22.4M	0.1%	-18.10%	33
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.	Increased	121,251(+6.8%)	$22.4M	0.2%	-0.67%	36
MAI Capital Management	Increased	121,329(+1.0%)	$22.3M	0.1%	+11.86%	34
NATIXIS	New	120,612	$22.2M	0.1%	-16.46%	39
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp	Increased	120,108(+25.2%)	$22.1M	0.1%	+0.99%	42
O'SHAUGHNESSY ASSET MANAGEMENT, LLC	Increased	117,416(+1.7%)	$21.6M	0.1%	-5.96%	35
Varma Mutual Pension Insurance Co	Increased	115,176(+2.1%)	$21.2M	0.1%	-0.43%	35
NISA INVESTMENT ADVISORS, LLC	Decreased	111,975(-1.9%)	$20.6M	0.1%	+5.86%	0
USS Investment Management Ltd	Increased	110,005(+2.6%)	$20.3M	0.1%	+13.42%	29
Utah Retirement Systems	Increased	109,307(+0.7%)	$20.1M	0.2%	+17.91%	34
PRUDENTIAL PLC	Increased	107,874(+3.0%)	$19.9M	0.2%	-9.77%	35
INTECH INVESTMENT MANAGEMENT LLC	Decreased	106,142(-7.1%)	$19.6M	0.2%	-14.68%	0
Police & Firemen's Retirement System of New Jersey	Decreased	102,846(-2.9%)	$18.9M	0.2%	-16.18%	0
MACQUARIE GROUP LTD	Decreased	102,623(-6.6%)	$18.9M	0.1%	+5.67%	0
PUBLIC SECTOR PENSION INVESTMENT BOARD	Increased	101,964(+3.9%)	$18.8M	0.1%	-16.39%	29
NEW YORK LIFE INVESTMENT MANAGEMENT LLC	Increased	101,189(+3.5%)	$18.6M	0.2%	+0.20%	35
Waverly Advisors, LLC	Increased	100,787(+67.4%)	$18.6M	0.2%	-14.28%	50
NOMURA HOLDINGS INC	Increased	99,572(+20.9%)	$18.3M	0.0%	-19.64%	34
UNITED CAPITAL FINANCIAL ADVISORS, LLC	Increased	97,289(+13.2%)	$17.9M	0.1%	-15.29%	38
Vanguard Personalized Indexing Management, LLC	Decreased	95,833(-1.6%)	$17.7M	0.2%	-2.87%	0
Sumitomo Mitsui DS Asset Management Company, Ltd	Increased	94,725(+5.3%)	$17.4M	0.1%	+1.21%	36
Allspring Global Investments Holdings, LLC	Increased	92,685(+0.0%)	$16.6M	0.0%	+13.70%	28
Private Advisor Group, LLC	Increased	89,959(+2.9%)	$16.6M	0.1%	+1.61%	29
ASSETMARK, INC	Decreased	88,878(-0.2%)	$16.4M	0.0%	+5.24%	0
Fiera Capital Corp	Increased	86,444(+32.0%)	$15.9M	0.1%	-18.78%	36
PICTON MAHONEY ASSET MANAGEMENT	Increased	85,747(+24.4%)	$15.8M	0.1%	-15.12%	41
NewEdge Wealth, LLC	Increased	84,651(+1.3%)	$15.6M	0.2%	-11.49%	34
Pathstone Holdings, LLC	Increased	81,434(+2.8%)	$15M	0.1%	-8.81%	29
PEAK6 LLC	Increased	79,628(+35.9%)	$14.7M	0.0%	-21.74%	37
MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC	Increased	78,675(+1.1%)	$14.5M	0.2%	+2.10%	34
Qube Research & Technologies Ltd	New	77,653	$14.3M	0.0%	-16.46%	39
JENNISON ASSOCIATES LLC	Increased	76,908(+45.3%)	$14.2M	0.0%	-13.17%	38
MILLENNIUM MANAGEMENT LLC	Increased	74,723(+44.9%)	$13.8M	0.0%	-11.80%	38
QRG CAPITAL MANAGEMENT, INC.	Increased	73,952(+11.8%)	$13.6M	0.2%	-6.91%	37
Parallax Volatility Advisers, L.P.	Increased	72,963(+1274.6%)	$13.4M	0.0%	-17.02%	45
BANQUE PICTET & CIE SA	Increased	72,894(+5.6%)	$13.4M	0.1%	-0.77%	30
Envestnet Portfolio Solutions, Inc.	Decreased	72,520(-0.4%)	$13.4M	0.0%	-0.11%	0
Impax Asset Management Group plc	Decreased	71,738(-46.8%)	$13.2M	0.1%	+1.50%	0
D.A. DAVIDSON & CO.	Decreased	71,352(-0.1%)	$13.1M	0.1%	+6.57%	0
YOUSIF CAPITAL MANAGEMENT, LLC	Decreased	71,163(-4.7%)	$13.1M	0.1%	+3.28%	0
AGF MANAGEMENT LTD	Unchanged	70,782	$13M	0.1%	-22.12%	0
Walleye Capital LLC	Increased	70,259(+366.3%)	$12.9M	0.0%	-17.37%	45
Wealthfront Advisers LLC	Increased	66,974(+0.1%)	$12.3M	0.0%	-5.71%	28
CI INVESTMENTS INC.	Increased	66,818(+2366.5%)	$12.3M	0.1%	-16.43%	45
Empower Advisory Group, LLC	Increased	66,579(+15.7%)	$12.3M	0.0%	-14.58%	32
CULLEN/FROST BANKERS, INC.	Increased	65,733(+6.4%)	$12.1M	0.1%	-14.05%	36
IMC-Chicago, LLC	New	65,702	$12.1M	0.0%	-16.46%	39
Optiver Holding B.V.	New	65,696	$12.1M	0.0%	-16.46%	39
BALYASNY ASSET MANAGEMENT L.P.	Increased	64,154(+136.3%)	$11.8M	0.0%	-17.28%	45
Mediolanum International Funds Ltd	Increased	63,179(+227.9%)	$11.8M	0.1%	-13.46%	54
FIL Ltd	Increased	63,905(+10.0%)	$11.8M	0.0%	-20.70%	31
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V.	Increased	61,652(+5.4%)	$11.4M	0.1%	-21.93%	29
BENJAMIN EDWARDS INC	Increased	60,811(+2.7%)	$11.2M	0.1%	-14.12%	34
RWA WEALTH PARTNERS, LLC	Increased	60,740(+0.0%)	$11.2M	0.1%	+2.73%	33
Equitable Holdings, Inc.	Increased	58,826(+11.8%)	$10.8M	0.1%	-10.96%	31
TUDOR INVESTMENT CORP ET AL	New	57,316	$10.6M	0.0%	-16.46%	38
Walleye Trading LLC	New	56,754	$10.5M	0.0%	-16.46%	38
SCS Capital Management LLC	Decreased	52,667(-0.1%)	$9.7M	0.1%	-9.65%	0
Allworth Financial LP	Increased	48,455(+108.9%)	$8.9M	0.0%	-15.76%	44
Assenagon Asset Management S.A.	Decreased	47,934(-24.3%)	$8.8M	0.0%	-19.30%	0
Orion Porfolio Solutions, LLC	Increased	46,923(+2.6%)	$8.6M	0.1%	-2.35%	28
HB Wealth Management, LLC	Increased	45,744(+4.5%)	$8.4M	0.1%	-12.00%	29
Woodline Partners LP	Increased	44,461(+175.0%)	$8.2M	0.0%	-13.76%	44
Empowered Funds, LLC	Decreased	43,559(-10.8%)	$8M	0.1%	-18.00%	0
LOS ANGELES CAPITAL MANAGEMENT LLC	Increased	36,412(+35.8%)	$7.9M	0.0%	-2.57%	36
Aptus Capital Advisors, LLC	Increased	39,611(+268.5%)	$7.3M	0.1%	-15.03%	44
Merit Financial Group, LLC	Increased	39,270(+6.4%)	$7.2M	0.1%	-13.84%	29
Kovitz Investment Group Partners, LLC	Decreased	39,055(-28.4%)	$7.2M	0.2%	-13.83%	0
AE Wealth Management LLC	Decreased	38,934(-1.5%)	$7.2M	0.0%	-15.30%	0
TIAA TRUST, NATIONAL ASSOCIATION	Decreased	37,204(-5.5%)	$6.9M	0.0%	-8.35%	0
Gotham Asset Management, LLC	Decreased	36,254(-14.8%)	$6.7M	0.0%	-3.37%	0
EXCHANGE TRADED CONCEPTS, LLC	Increased	35,485(+10.4%)	$6.5M	0.0%	-8.39%	30
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	New	34,587	$6.4M	0.0%	-16.46%	38
KEYBANK NATIONAL ASSOCIATION/OH	Decreased	33,967(-1.0%)	$6.3M	0.0%	+1.02%	0
Farther Finance Advisors, LLC	Increased	31,928(+36.7%)	$5.9M	0.1%	-15.91%	35
CANTOR FITZGERALD, L. P.	New	30,660	$5.6M	0.1%	-16.46%	37
Capitolis Liquid Global Markets LLC	New	28,622	$5.3M	0.0%	-16.46%	37
Integrated Wealth Concepts LLC	Decreased	28,058(-19.9%)	$5.2M	0.1%	+2.30%	0
CAPITAL FUND MANAGEMENT S.A.	Decreased	26,484(-61.2%)	$4.9M	0.0%	-11.83%	0
CAPSTONE INVESTMENT ADVISORS, LLC	Increased	25,950(+1498.9%)	$4.8M	0.0%	-16.39%	43
GREAT LAKES ADVISORS, LLC	Decreased	24,670(-3.1%)	$4.5M	0.0%	+0.75%	0
Hudson Bay Capital Management LP	Decreased	24,540(-22.6%)	$4.5M	0.0%	-23.47%	0
Jefferies Financial Group Inc.	Increased	24,195(+376.0%)	$4.5M	0.0%	-15.82%	43
Cresset Asset Management, LLC	Decreased	22,730(-12.7%)	$4.2M	0.0%	+24.77%	0
Squarepoint Ops LLC	Decreased	22,728(-94.7%)	$4.2M	0.0%	-16.61%	0
JOHNSON INVESTMENT COUNSEL INC	Decreased	22,513(-1.5%)	$4.1M	0.0%	+13.87%	0
OneDigital Investment Advisors LLC	Decreased	21,850(-5.5%)	$4M	0.0%	+7.24%	0
GROUP ONE TRADING LLC	Decreased	20,017(-7.7%)	$3.7M	0.0%	-23.47%	0
Wealthspire Advisors, LLC	Increased	19,913(+35.9%)	$3.7M	0.0%	-5.38%	35
Twin Tree Management, LP	New	19,845	$3.7M	0.0%	-16.46%	37
1832 Asset Management L.P.	Increased	19,412(+66.2%)	$3.6M	0.0%	-19.91%	39
GAMCO INVESTORS, INC. ET AL	Increased	18,428(+0.5%)	$3.4M	0.0%	+3.49%	27
Clear Street Group Inc.	Decreased	16,220(-39.1%)	$3M	0.0%	-23.47%	0
LMR Partners LLP	Decreased	16,199(-59.5%)	$3M	0.0%	-23.47%	0
BROWN BROTHERS HARRIMAN & CO	Increased	16,004(+9.1%)	$2.9M	0.0%	-10.49%	29
WHITTIER TRUST CO	Increased	14,903(+2.7%)	$2.8M	0.0%	+6.27%	27
REGIONS FINANCIAL CORP	Increased	14,944(+1.3%)	$2.8M	0.0%	+13.41%	27
TWO SIGMA ADVISERS, LP	Increased	14,100(+58.2%)	$2.6M	0.0%	-14.10%	37
M&G Plc	Decreased	13,768(-0.1%)	$2.5M	0.0%	-6.37%	0
ALPS ADVISORS INC	Decreased	13,339(-4.8%)	$2.5M	0.0%	+14.75%	0
AXXCESS WEALTH MANAGEMENT, LLC	Decreased	12,656(-8.3%)	$2.3M	0.0%	-16.42%	0
Marex Group plc	Increased	11,484(+86.4%)	$2.1M	0.0%	-20.14%	40
Savant Capital, LLC	Decreased	11,476(-50.2%)	$2.1M	0.0%	-6.90%	0
GREENLEAF TRUST	Decreased	10,957(-16.4%)	$2M	0.0%	-2.88%	0
SILVERCREST ASSET MANAGEMENT GROUP LLC	Increased	9,742(+0.2%)	$1.8M	0.0%	+0.92%	26
MONETA GROUP INVESTMENT ADVISORS LLC	Increased	9,300(+14.9%)	$1.7M	0.0%	-4.64%	29
ING GROEP NV	New	8,714	$1.6M	0.0%	-16.46%	35
MATHER GROUP, LLC.	Increased	8,027(+17.6%)	$1.5M	0.0%	-7.03%	30
Capula Management Ltd	Increased	7,935(+208.6%)	$1.5M	0.0%	-17.37%	41
SIMPLEX TRADING, LLC	New	7,667	$1.4M	0.0%	-16.46%	35
Fisher Asset Management, LLC	Decreased	7,127(-1.8%)	$1.3M	0.0%	-6.75%	0
TWO SIGMA INVESTMENTS, LP	Decreased	6,899(-97.9%)	$1.3M	0.0%	-12.56%	0
FIRST MANHATTAN CO. LLC.	Increased	6,367(+1.4%)	$1.2M	0.0%	-5.54%	26
FORT WASHINGTON INVESTMENT ADVISORS INC /OH/	Increased	6,061(+0.1%)	$1.1M	0.0%	-14.27%	25
WESTWOOD HOLDINGS GROUP INC	Decreased	5,273(-3.2%)	$971,287	0.0%	+28.52%	0
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	Decreased	4,787(-96.4%)	$881,765	0.0%	-23.47%	0
PRICE T ROWE ASSOCIATES INC /MD/	Decreased	4.3M(-4.7%)	$798,962	0.1%	-6.80%	0
FAYEZ SAROFIM & CO	Decreased	4,184(-2.9%)	$770,693	0.0%	+10.21%	0
BAHL & GAYNOR INC	Increased	4,112(+155.1%)	$757,430	0.0%	-16.00%	40
AustralianSuper Pty Ltd	New	4,075	$750,615	0.0%	-16.46%	34
XTX Topco Ltd	Decreased	3,952(-31.0%)	$727,958	0.0%	-23.47%	0
LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	Increased	3,717(+1.6%)	$682,070	0.0%	+20.29%	25
GATEWAY INVESTMENT ADVISERS LLC	Increased	3,207(+15.0%)	$590,729	0.0%	-11.76%	28
Dynasty Wealth Management, LLC	Increased	2,994(+11.5%)	$551,495	0.0%	-22.80%	27
BNP Paribas Asset Management Holding S.A.	Increased	2.8M(+84.6%)	$516,467	0.6%	-3.65%	53
M&T BANK CORP	Decreased	23,393(-82.6%)	$510,157	0.0%	+7.77%	0
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	Increased	2,683(+42.7%)	$494,241	0.0%	-11.92%	32
HARRIS ASSOCIATES L P	New	2,640	$486,288	0.0%	-16.46%	33
Clark Capital Management Group, Inc.	Increased	2,312(+6.5%)	$425,932	0.0%	-15.32%	26
Williams Jones Wealth Management, LLC.	Increased	2,237(+3.7%)	$412,055	0.0%	-12.26%	25
Boston Trust Walden Corp	Unchanged	2,143	$394,741	0.0%	-22.20%	0
Engineers Gate Manager LP	Decreased	1,999(-97.7%)	$368,216	0.0%	-16.17%	0
GABELLI FUNDS LLC	Increased	1,782(+4.2%)	$328,244	0.0%	-5.28%	25
FRED ALGER MANAGEMENT, LLC	New	1,569	$289,010	0.0%	-16.46%	32
First Command Advisory Services, Inc.	Increased	297(+4.6%)	$54,707	0.0%	-6.63%	22
LOOMIS SAYLES & CO L P	Decreased	172(-3.9%)	$31,682	0.0%	-9.00%	0
HRT FINANCIAL LP	Decreased	153,821(-71.0%)	$28,333	0.1%	-23.47%	0
IFM Investors Pty Ltd	Increased	136,056(+3.9%)	$25,062	0.2%	-5.90%	24
Brevan Howard Capital Management LP	Exited	0(-100.0%)	$7.7M	0.0%	-5.43%	0
VOLORIDGE INVESTMENT MANAGEMENT, LLC	Exited	0(-100.0%)	$25.7M	0.0%	-4.73%	0
Rokos Capital Management LLP	Exited	0(-100.0%)	$28,705	0.0%	-6.84%	0
APG Asset Management US Inc.	Exited	0(-100.0%)	$4.9M	0.0%	+11.76%	0
Quadrature Capital Ltd	Exited	0(-100.0%)	$14.8M	0.0%	-8.39%	0
MOORE CAPITAL MANAGEMENT, LP	Exited	0(-100.0%)	$3M	0.0%	-8.39%	0
Connor, Clark & Lunn Investment Management Ltd.	Exited	0(-100.0%)	$4.5M	0.0%	-6.61%	0
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	Exited	0(-100.0%)	$18.6M	0.0%	-6.84%	0
Bridgewater Associates, LP	Exited	0(-100.0%)	$18.1M	0.0%	+0.89%	0
Alyeska Investment Group, L.P.	Exited	0(-100.0%)	$32M	0.0%	-8.39%	0
Epoch Investment Partners, Inc.	Exited	0(-100.0%)	$665,023	0.0%	+21.94%	0
Temasek Holdings (Private) Ltd	Exited	0(-100.0%)	$7.2M	0.0%	-7.50%	0
Schonfeld Strategic Advisors LLC	Exited	0(-100.0%)	$13.2M	0.0%	+3.97%	0

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