Cloudflare, Inc. (NET)

Highly Crowded

Held by 1,081 of 5,944 reporting institutions (99th percentile) — extremely crowded.

Data as of Q1 2026

Institutional Ownership

79.39%

QoQ Change

-3.63%

Total Value

$56.0T

Shares Outstanding

348.4M

Crowding AnalysisHighly Crowded

Holders1,081of 5,944

Avg: 68

Uncrowded99th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.38x

98th percentile

662 buying481 selling

+178

New

-141

Closed

-902,495

Net shares

Holding Period Distribution

estimate

Median: 3 QAvg: 3.5 QHolders: 1,081

Ownership Concentration

Top 5: 33.1%Top 10: 51.7%

Capital World Investors8.2%

BlackRock,7.6%

VANGUARD PORTFOLIO MANAGEMENT5.8%

BAILLIE GIFFORD &5.8%

MORGAN STANLEY5.7%

Others (1076)66.9%

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Conviction-Weighted Ownership

Median weight: 0.16%Avg weight: 0.53%Max: 3.36%High conviction (>1%): 1

Capital World Investors

BlackRock,

VANGUARD PORTFOLIO MANAGEMENT

BAILLIE GIFFORD &

MORGAN STANLEY

VANGUARD CAPITAL MANAGEMENT

FMR

Capital International Investors

STATE STREET

GEODE CAPITAL MANAGEMENT,

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWVANGUARD PORTFOLIO MANAGEMENT$3.3B16.0M shr

NEWVANGUARD CAPITAL MANAGEMENT$2.8B13.7M shr

SOLDCapital World Investors$2.7B13.1M shr

NEWCapital International Investors$2.2B10.9M shr

SOLDMORGAN STANLEY$439M2.1M shr

SOLDBAILLIE GIFFORD$991M5.0M shr

SOLDCapital World Investors$925M4.7M shr

NEWFIRST TRUST ADVISORS$792M4.0M shr

BOUGHTJPMORGAN CHASE$600M3.0M shr

SOLDMORGAN STANLEY$198M1.0M shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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