Zscaler, Inc. - Common Stock (ZS) Institutional Ownership

13F Institutional Holders and Ownership History from Q1 2018 to Q4 2025

Type / Class: Equity / Common Stock
Symbol: ZS on Nasdaq
Shares outstanding: 158,326,435
Price per share: $219.67
All holders as of 31 Dec 2025: Q4 2025
Total 13F shares: 85,235,820
Total reported value: $19,158,307,582
% of total 13F portfolios: 0.01%
Share change: +3,679,271
Value change: +$782,101,442
Number of holders: 867
Price from insider filings: $219.67

Reported Shares, Excluding Options vs Price

Reported Value, Excluding Options

Total Investors

Significant Owners of Zscaler, Inc. - Common Stock (ZS) based on Schedule 13D/G filings

Filer	Ownership	Change %	Holdings Value	Net Change	Nb Shares	Change %	Reporting Name	Report Period
VANGUARD GROUP INC	7.2%		$3,406,486,335		11,367,838		The Vanguard Group	30 Sep 2025

As of 31 Dec 2025, 867 institutional investors reported holding 85,235,820 shares of Zscaler, Inc. - Common Stock (ZS). This represents 54% of the company’s total 158,326,435 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of Zscaler, Inc. - Common Stock (ZS) together control 36% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution	Ownership %	Shares Held	Share Change %	Portfolio %	Holdings Value
VANGUARD GROUP INC	7.2%	11,423,424	+0.49%	0.04%	$2,569,356,525
BlackRock, Inc.	4.9%	7,830,756	+0.5%	0.03%	$1,761,293,784
FMR LLC	2.9%	4,529,502	+12%	0.05%	$1,018,775,607
FIRST TRUST ADVISORS LP	1.6%	2,582,897	+16%	0.42%	$580,945,140
PRICE T ROWE ASSOCIATES INC /MD/	1.6%	2,572,358	+43%	0.06%	$578,576,000
GOLDMAN SACHS GROUP INC	1.5%	2,412,344	+32%	0.08%	$542,584,327
AMERICAN CENTURY COMPANIES INC	1.5%	2,401,772	-0.71%	0.27%	$540,206,558
STATE STREET CORP	1.5%	2,337,604	+3.4%	0.02%	$525,773,892
GEODE CAPITAL MANAGEMENT, LLC	1.3%	2,069,630	+5%	0.03%	$464,782,696
T. Rowe Price Investment Management, Inc.	1.2%	1,928,098	-15%	0.27%	$433,668,000
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	1.1%	1,669,505	-0.89%	0.08%	$375,505,066
AQR CAPITAL MANAGEMENT LLC	1%	1,599,045	-18%	0.19%	$359,657,113
TIGER GLOBAL MANAGEMENT LLC	1%	1,579,766	-6.1%	1.2%	$355,320,969
MORGAN STANLEY	0.98%	1,557,639	+25%	0.02%	$350,344,889
Invesco Ltd.	0.93%	1,469,657	+14%	0.05%	$330,555,268
UBS Group AG	0.8%	1,269,322	+129%	0.06%	$285,495,905
Pictet Asset Management Holding SA	0.8%	1,259,127	+30%	0.28%	$283,295,621
FEDERATED HERMES, INC.	0.76%	1,204,917	-6%	0.45%	$271,009,932
VOYA INVESTMENT MANAGEMENT LLC	0.6%	950,885	+6%	0.21%	$213,873,055
BARCLAYS PLC	0.46%	727,417	+14%	0.07%	$163,610,633
NORTHERN TRUST CORP	0.43%	680,449	+1.7%	0.02%	$153,046,589
Amundi	0.43%	676,845	-4.2%	0.05%	$152,235,977
Legal & General Group Plc	0.41%	645,996	+9.4%	0.03%	$145,297,422
Squarepoint Ops LLC	0.4%	633,876	+369%	0.29%	$142,571,390
Artisan Partners Limited Partnership	0.37%	593,545	+23%	0.2%	$133,500,083

Institutional Holders of Zscaler, Inc. - Common Stock (ZS) across Reporting Periods

Period	Reported Shares, Excl. Options	Value, Excl. Options	Value Change	Puts Notional Value	Calls Notional Value	Price (Median)	Investors
2025 Q4	85,235,820	$19,158,307,582	+$782,101,442	$1,283,573,456	$1,185,922,554	$224.92	867
2025 Q3	81,580,873	$24,436,617,418	-$507,883,362	$1,649,701,860	$1,589,603,597	$299.66	899
2025 Q2	83,161,166	$26,089,553,360	-$24,406,503	$1,747,497,854	$1,751,934,806	$313.94	895
2025 Q1	84,058,713	$16,665,832,129	+$1,661,301,428	$1,564,817,094	$1,338,412,982	$198.42	756
2024 Q4	75,186,013	$13,571,596,607	+$371,010,811	$1,373,456,651	$1,035,639,883	$180.41	748
2024 Q3	72,883,415	$12,487,790,009	+$525,520,922	$1,032,782,541	$888,809,027	$170.94	686
2024 Q2	69,895,851	$13,434,061,845	-$57,968,565	$1,159,063,967	$1,056,367,485	$192.19	717
2024 Q1	70,069,296	$13,487,785,431	+$235,963,227	$1,229,830,873	$1,039,396,338	$192.63	723
2023 Q4	68,359,998	$15,145,638,977	+$653,384,089	$1,233,044,847	$1,126,631,904	$221.56	730
2023 Q3	65,656,356	$10,217,333,096	-$271,577,038	$701,594,031	$693,039,869	$155.59	608
2023 Q2	67,178,857	$9,829,413,250	+$159,679,893	$575,349,000	$682,852,144	$146.30	582
2023 Q1	67,163,916	$7,841,154,881	+$33,128,464	$431,306,466	$387,685,245	$116.83	557
2022 Q4	69,779,832	$7,806,144,103	-$51,464,298	$507,686,143	$715,529,634	$111.90	547
2022 Q3	68,847,062	$11,328,621,196	+$653,531,614	$884,736,575	$916,567,104	$164.37	585
2022 Q2	64,685,983	$9,687,521,243	+$246,863,175	$855,431,326	$780,736,497	$149.51	568
2022 Q1	62,891,046	$15,146,614,228	-$297,578,744	$1,676,702,104	$1,200,164,552	$241.28	617
2021 Q4	63,766,501	$20,486,725,743	+$942,093,768	$3,124,410,460	$1,805,345,361	$321.33	644
2021 Q3	61,057,486	$16,007,859,607	+$236,457,750	$2,555,992,714	$1,487,312,554	$262.22	582
2021 Q2	59,968,923	$12,957,951,024	+$1,085,526,860	$1,969,703,178	$1,188,678,548	$216.06	535
2021 Q1	55,253,429	$9,486,524,948	-$224,266,178	$1,238,018,997	$768,360,344	$171.67	527
2020 Q4	56,269,180	$11,237,351,698	+$230,511,047	$1,331,033,614	$1,081,720,852	$199.71	503
2020 Q3	55,296,320	$7,779,351,162	+$13,603,921	$833,956,517	$577,467,293	$140.69	406
2020 Q2	55,360,879	$6,072,579,835	+$333,685,154	$513,780,000	$469,645,200	$109.50	361
2020 Q1	53,504,420	$3,255,388,346	+$110,465,363	$223,176,000	$179,399,000	$60.86	269
2019 Q4	51,919,446	$2,414,331,758	+$198,449,313	$161,905,000	$147,784,000	$46.50	243
2019 Q3	47,106,975	$2,226,020,993	+$58,404,188	$143,420,000	$156,461,000	$47.26	236
2019 Q2	42,645,272	$3,269,772,581	+$128,921,042	$115,315,000	$212,619,000	$76.64	268
2019 Q1	43,036,080	$3,051,510,493	+$388,585,478	$93,611,000	$194,924,000	$70.93	200
2018 Q4	38,239,162	$1,498,643,908	+$265,998,262	$24,133,000	$38,143,000	$39.21	143
2018 Q3	31,326,021	$1,276,258,668	+$86,980,749	$36,969,156	$24,975,000	$40.78	147
2018 Q2	30,012,369	$1,072,938,546	+$234,393,347	$21,687,000	$16,396,000	$35.75	102
2018 Q1	24,016,986	$674,159,724	+$673,541,723			$28.07	86