PALO ALTO NETWORKS INC

Ticker: PANW CUSIP: 697435105 Class: COM

SFE Investment Counsel's Holding History (CIK: 0001317784)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 79,334 Value ($000) $14,613 Avg Close $201.75 Range $180.05 - $223.61

Q3 2025

Shares 76,960 Value ($000) $15,671 Avg Close $191.42 Range $165.21 - $210.39

Q2 2025

Shares 75,623 Value ($000) $15,475 Avg Close $185.70 Range $144.15 - $206.74

Q1 2025

Shares 72,925 Value ($000) $12,444 Avg Close $184.92 Range $165.88 - $208.39

Q4 2024

Shares 69,966 Value ($000) $12,731 Avg Close $188.91 Range $164.13 - $207.24

Q3 2024

Shares 36,241 Value ($000) $12,387 Avg Close $168.32 Range $142.01 - $187.69

Q2 2024

Shares 36,217 Value ($000) $12,278 Avg Close $149.57 Range $132.50 - $172.95

Q1 2024

Shares 34,714 Value ($000) $9,863 Avg Close $157.74 Range $130.04 - $190.42

Q4 2023

Shares 39,542 Value ($000) $11,660 Avg Close $133.70 Range $115.05 - $159.00

Q3 2023

Shares 41,770 Value ($000) $9,793 Avg Close $118.33 Range $100.58 - $129.44

Q2 2023

Shares 43,071 Value ($000) $11,005 Avg Close $104.05 Range $88.15 - $128.41

Q1 2023

Shares 45,773 Value ($000) $8,097 Avg Close $84.74 Range $66.11 - $100.15

Q4 2022

Shares 49,699 Value ($000) $6,993 Avg Close $80.29 Range $68.37 - $89.50

Q3 2022

Shares 50,016 Value ($000) $8,192 Avg Close $86.60 Range $77.20 - $96.47

Q2 2022

Shares 16,680 Value ($000) $8,239 Avg Close $88.67 Range $70.26 - $106.82

Q1 2022

Shares 16,964 Value ($000) $10,560 Avg Close $89.50 Range $75.96 - $105.98

Q4 2021

Shares 20,484 Value ($000) $11,405 Avg Close $86.50 Range $77.19 - $95.44

Q3 2021

Shares 21,051 Value ($000) $10,083 Avg Close $70.26 Range $59.73 - $82.65

Q2 2021

Shares 22,148 Value ($000) $8,218 Avg Close $59.25 Range $53.70 - $64.45

Q1 2021

Shares 22,400 Value ($000) $7,214 Avg Close $59.44 Range $51.93 - $67.17

Q4 2020

Shares 23,927 Value ($000) $8,503 Avg Close $46.72 Range $36.56 - $62.50

Q3 2020

Shares 22,809 Value ($000) $5,583 Avg Close $41.60 Range $37.86 - $45.84

Q2 2020

Shares 23,338 Value ($000) $5,360 Avg Close $35.23 Range $26.33 - $40.52

Q1 2020

Shares 21,714 Value ($000) $3,560 Avg Close $34.91 Range $20.91 - $41.85

Q4 2019

Shares 21,227 Value ($000) $4,909 Avg Close $37.82 Range $33.75 - $41.83

Q3 2019

Shares 21,235 Value ($000) $4,328 Avg Close $35.39 Range $32.03 - $38.32

Q2 2019

Shares 20,177 Value ($000) $4,111 Avg Close $37.41 Range $32.45 - $41.82

Q1 2019

Shares 18,113 Value ($000) $4,399 Avg Close $37.09 Range $29.80 - $43.44

Q4 2018

Shares 19,869 Value ($000) $3,742 Avg Close $31.18 Range $26.68 - $38.18

Q3 2018

Shares 19,759 Value ($000) $4,451 Avg Close $36.40 Range $32.27 - $39.92

Q2 2018

Shares 20,701 Value ($000) $4,253 Avg Close $33.34 Range $29.60 - $36.23

Q1 2018

Shares 24,046 Value ($000) $4,365 Avg Close $27.78 Range $24.18 - $31.92

Q4 2017

Shares 28,696 Value ($000) $4,159 Avg Close $24.33 Range $22.64 - $26.14

Q3 2017

Shares 29,299 Value ($000) $4,222 Avg Close $22.77 Range $21.09 - $24.79

Q2 2017

Shares 31,705 Value ($000) $4,242 Avg Close $20.20 Range $17.89 - $23.55

Q1 2017

Shares 30,442 Value ($000) $3,430 Avg Close $22.36 Range $18.34 - $26.27

Q4 2016

Shares 23,747 Value ($000) $3,419 Avg Close $23.96 Range $20.59 - $27.61

Q3 2016

Shares 13,530 Value ($000) $1,659 Avg Close $22.79 Range $19.50 - $26.67

Q2 2016

Shares 13,530 Value ($000) $1,659 Avg Close $23.16 Range $19.11 - $27.29

Q1 2016

Shares 10,100 Value ($000) $1,648 Avg Close $24.59 Range $18.52 - $28.96

Q4 2015

Shares 4,755 Value ($000) $838 Avg Close $28.85 Range $25.04 - $32.45

Q3 2015

Shares 3,805 Value ($000) $654 Avg Close $29.50 Range $23.40 - $33.42

Q2 2015

Shares 4,670 Value ($000) $816 Avg Close $26.69 Range $23.26 - $30.83

Q1 2015

Shares 1,950 Value ($000) $285 Avg Close $22.39 Range $19.60 - $25.07

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	79,334	$14,613	$201.75	$180.05 - $223.61
Q3 2025	76,960	$15,671	$191.42	$165.21 - $210.39
Q2 2025	75,623	$15,475	$185.70	$144.15 - $206.74
Q1 2025	72,925	$12,444	$184.92	$165.88 - $208.39
Q4 2024	69,966	$12,731	$188.91	$164.13 - $207.24
Q3 2024	36,241	$12,387	$168.32	$142.01 - $187.69
Q2 2024	36,217	$12,278	$149.57	$132.50 - $172.95
Q1 2024	34,714	$9,863	$157.74	$130.04 - $190.42
Q4 2023	39,542	$11,660	$133.70	$115.05 - $159.00
Q3 2023	41,770	$9,793	$118.33	$100.58 - $129.44
Q2 2023	43,071	$11,005	$104.05	$88.15 - $128.41
Q1 2023	45,773	$8,097	$84.74	$66.11 - $100.15
Q4 2022	49,699	$6,993	$80.29	$68.37 - $89.50
Q3 2022	50,016	$8,192	$86.60	$77.20 - $96.47
Q2 2022	16,680	$8,239	$88.67	$70.26 - $106.82
Q1 2022	16,964	$10,560	$89.50	$75.96 - $105.98
Q4 2021	20,484	$11,405	$86.50	$77.19 - $95.44
Q3 2021	21,051	$10,083	$70.26	$59.73 - $82.65
Q2 2021	22,148	$8,218	$59.25	$53.70 - $64.45
Q1 2021	22,400	$7,214	$59.44	$51.93 - $67.17
Q4 2020	23,927	$8,503	$46.72	$36.56 - $62.50
Q3 2020	22,809	$5,583	$41.60	$37.86 - $45.84
Q2 2020	23,338	$5,360	$35.23	$26.33 - $40.52
Q1 2020	21,714	$3,560	$34.91	$20.91 - $41.85
Q4 2019	21,227	$4,909	$37.82	$33.75 - $41.83
Q3 2019	21,235	$4,328	$35.39	$32.03 - $38.32
Q2 2019	20,177	$4,111	$37.41	$32.45 - $41.82
Q1 2019	18,113	$4,399	$37.09	$29.80 - $43.44
Q4 2018	19,869	$3,742	$31.18	$26.68 - $38.18
Q3 2018	19,759	$4,451	$36.40	$32.27 - $39.92
Q2 2018	20,701	$4,253	$33.34	$29.60 - $36.23
Q1 2018	24,046	$4,365	$27.78	$24.18 - $31.92
Q4 2017	28,696	$4,159	$24.33	$22.64 - $26.14
Q3 2017	29,299	$4,222	$22.77	$21.09 - $24.79
Q2 2017	31,705	$4,242	$20.20	$17.89 - $23.55
Q1 2017	30,442	$3,430	$22.36	$18.34 - $26.27
Q4 2016	23,747	$3,419	$23.96	$20.59 - $27.61
Q3 2016	13,530	$1,659	$22.79	$19.50 - $26.67
Q2 2016	13,530	$1,659	$23.16	$19.11 - $27.29
Q1 2016	10,100	$1,648	$24.59	$18.52 - $28.96
Q4 2015	4,755	$838	$28.85	$25.04 - $32.45
Q3 2015	3,805	$654	$29.50	$23.40 - $33.42
Q2 2015	4,670	$816	$26.69	$23.26 - $30.83
Q1 2015	1,950	$285	$22.39	$19.60 - $25.07