Ayrshire Loads Up PANW With 37K Shares Worth $7.6 Million
Key Points
Aryshire Capital Management acquired 37,418 shares of Palo Alto Networks; with an estimated transaction value of $7.62 million
Position accounts for 3.54% of Ayrshire’s 13F AUM
Post-trade stake totals 37,418 shares, valued at $7.62 million
This position represents 3.54% of AUM, which places it outside the fund’s top five holdings
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What happened
According to a filing with the Securities and Exchange Commission dated October 20, 2025, Ayrshire Capital Management LLC initiated a new stake in Palo Alto Networks (NASDAQ:PANW), buying 37,418 shares. The estimated value of this trade, based on the quarterly average price, was approximately $7.62 million. This addition brings the fund’s total reportable U.S. equity positions to 46.
What else to know
This is a new position; Palo Alto Networks now comprises 3.54% of Ayrshire’s 13F reportable assets under management as of September 30, 2025
Top holdings after the filing:
NYSE: APH: $16.55 million (7.7% of AUM) as of September 30, 2025
NASDAQ: MSFT: $15.82 million (7.3% of AUM) as of September 30, 2025
NASDAQ: AAPL: $10.32 million (4.8% of AUM) as of September 30, 2025
NYSE: TJX: $8.77 million (4.07% of AUM) as of September 30, 2025
NASDAQ: META: $7.66 million (3.6% of AUM) as of September 30, 2025
As of October 20, 2025, shares of Palo Alto Networks were priced at $211.82, up 11.9% over the year ending October 20, 2025, underperforming the S&P 500 by 2.68 percentage points during the same period
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $9.22 billion |
| Net Income (TTM) | $1.13 billion |
| Market Capitalization | $141.69 billion |
| Price (as of market close 2025-10-20) | $211.82 |
Company Snapshot
Palo Alto Networks provides cybersecurity solutions, including firewall appliances, cloud security, threat intelligence, and security management software.
Operates a hybrid business model combining hardware, software, and recurring subscription services, generating revenue from both direct sales and channel partners.
Serves medium to large enterprises, service providers, and government entities across sectors such as education, financial services, healthcare, manufacturing, and telecommunications.
Palo Alto Networks, Inc. is a global provider of cybersecurity solutions focused on comprehensive threat prevention. The company leverages a robust portfolio of products and services to address evolving security needs for large organizations worldwide.
Foolish take
Aryshire's Palo Alto Networks stake was the only large new addition the firm made in the third quarter. It didn't make it into the top five, but it's close. It was the firm's sixth-largest holding at the end of September.
Diversification was likely a motivation for Aryshire's purchase of Palo Alto stock in the third quarter. Palo Alto was the only cybersecurity business among the portfolio's top ten holdings at the end of September.
In July, Palo Alto announced an agreement to acquire CyberArk, a leader in the bourgeoning identity security industry. If the deal completes as intended, CyberArk shareholders will receive a combination of $45 in cash plus 2.2005 shares of Palo Alto stock. The price represents a 26% premium to CyberArk’s previous closing day’s price.
In addition to humans who need to identify themselves, identification of new agentic artificial intelligence (AI) applications could give Palo Alto's new operating segment a large addressable market to grow into.
Glossary
13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
AUM (Assets Under Management): The total market value of assets that a fund or investment manager oversees on behalf of clients.
Reportable U.S. equity positions: Stocks and related securities that must be disclosed in regulatory filings, such as the 13F.
Channel partners: Third-party companies or organizations that help sell or distribute a company's products or services.
Hybrid business model: A strategy combining multiple revenue sources, such as hardware, software, and services.
Firewall appliances: Hardware devices designed to monitor and control incoming and outgoing network traffic for security.
Threat intelligence: Information about potential or current cyber threats used to improve an organization’s security posture.
Subscription services: Ongoing services provided for a recurring fee, often billed monthly or annually.
Stake: The ownership interest or investment held in a particular company or asset.
TTM: The 12-month period ending with the most recent quarterly report.
Direct sales: Sales made directly from a company to the end customer, without intermediaries.
Market close: The end of the regular trading session for a stock exchange on a given day.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Meta Platforms, Microsoft, and TJX Companies. The Motley Fool recommends Palo Alto Networks and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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