Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

ZSCALER INC (ZS)

916 + Investors. Track Smart Money conviction in ZS. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -18
Streak
2Q ▼
Buyers last Q
49%

Smart Money Signals — ZS

Based on 849 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their ZS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (97% of max)

97% of all-time peak
849 hedge funds hold ZS right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +19% more funds vs a year ago

fund count last 6Q
+134 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 49% buying

459 buying476 selling
Last quarter: 476 funds reduced or exited vs 459 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
📈

More new buyers each quarter (+21 vs last Q)

new funds entering per quarter
Funds opening a new ZS position: 115 → 215 → 123 → 144. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 23% medium ■ 21% new
479 out of 849 hedge funds have held ZS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📊

Peak discovery — momentum slowing

140 → 115 → 215 → 123 → 144 new funds/Q
New funds entering each quarter: 115 → 215 → 123 → 144. ZS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Deep conviction — 61% of holders stayed 2+ years

■ 61% veterans ■ 11% 1-2yr ■ 28% new
Of 916 current holders: 562 (61%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 50% AUM from top-100 funds

50% from top-100 AUM funds
49 of 849 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in ZS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: ZS

How many hedge funds hold ZS — quarterly history vs. share price
Quarterly hedge fund ownership of ZS vs. share price

Market Analysis: ZS

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: ZS

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

59 top-rated funds 5 high-conviction
Consensus
7.7
/ 10
breadth
×
Elite
4.2
/ 10
conviction
Hedge Fund Positioning: ZS
2026 Q1 Stats Unlock in 9 days 916 + Investors

Track Smart Money conviction in ZS. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 916 932 -1.72%
13F Shares 94M 152M -37.69%
Total Value $20.56B $26.79B -23.25%
New Positions 151 125 +26
Increased Positions 397 448 -51
Closed Positions 169 136 +33
Reduced Positions 399 362 +37
Total Calls 43 40 7.5%
Total Puts 36 37 -2.7%
PUT/CALL Ratio 0.84 0.93 Neutral

Statistics: ZS

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

916 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in ZS. Verified SEC 13F-HR filings.

Top 25 institutional holders of ZS — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 JIA INVESTMENT ALLIANCE PTE. LTD. 2.81% 191,060 $26.8M
2 Emissary Wealth LLC 2.24% 17,023 $2.4M
3 VALICENTI ADVISORY SERVICES INC 1.02% 33,365 $5K
4 PRINCETON CAPITAL MANAGEMENT LLC 0.95% 24,795 $3.5M
5 Red Spruce Capital, LLC 0.91% 15,822 $2.2M
6 Clare Market Investments LLC 0.90% 30,637 $4.3M
7 LaFleur & Godfrey LLC 0.90% 51,317 $7.2M
8 ARCADIA INVESTMENT MANAGEMENT CORP/MI 0.86% 35,991 $5.0M
9 WOODSTOCK CORP 0.76% 60,923 $8.5M
10 SHIKIAR ASSET MANAGEMENT INC 0.72% 17,753 $2K
11 PARAGON CAPITAL MANAGEMENT INC 0.63% 5,278 $740K
12 NICHOLAS COMPANY, INC. 0.63% 227,842 $32.0M
13 Secure Asset Management, LLC 0.60% 27,106 $3.8M
14 Worthington Financial Partners, LLC 0.58% 4,789 $672K
15 Norway Savings Bank 0.53% 8,011 $1.1M
16 SLT Holdings LLC 0.50% 5,231 $734K
17 DB Fitzpatrick & Co, Inc 0.44% 3,682 $517K
18 Malaga Cove Capital, LLC 0.42% 8,427 $1.2M
19 KRS Capital Management, LLC 0.40% 4,600 $645K
20 COMPASS CAPITAL CORP /MA/ /ADV 0.38% 7,090 $1.1M
21 Green Alpha Advisors, LLC 0.38% 2,733 $383K
22 Y-Intercept (Hong Kong) Ltd 0.36% 136,619 $19.2M
23 SouthState Bank Corp 0.33% 50,500 $7.1M
24 Qsemble Capital Management, LP 0.32% 29,549 $4.1M
25 Miller Financial Services LLC 0.32% 2,052 $288K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — ZSCALER INC (ZS)

What does the Smart Money Trend signal show for ZS?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their ZS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for ZS?

More sellers than buyers — 49% buying: Last quarter: 476 funds reduced or exited vs 459 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for ZS holders?

Elite ownership — 50% AUM from top-100 funds: 49 of 849 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in ZS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held ZS?

56% of holders stayed for 2+ years: 479 out of 849 hedge funds have held ZS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.