Ken Fisher Added to Cisco and Palo Alto Networks. Their AI Safety Bets Face Totally different Assessments
Ken Fisher’s newest disclosed positions put two totally different approaches to AI infrastructure and safety in the identical portfolio. Cisco Methods, Inc. (NASDAQ:CSCO) combines networking gear with safety software program. Palo Alto Networks, Inc. (NASDAQ:PANW) provides extra concentrated publicity to safety platforms, with acquisitions including an integration check.
September protection introduced renewed consideration to Fisher’s place will increase. The underlying filings describe March-to-June modifications, nonetheless, somewhat than trades made this month.
Insider Monkey’s tracked worksheet pattern counted 101 Cisco holders in Q2 2026 versus 97 in Q1, and 89 Palo Alto holders versus 87. These historic counts present context, not proof that both inventory is at the moment being accrued.
Fisher Asset Administration’s consecutive SEC filings present Cisco shares rising from 17,301,583 to 33,412,725. Its Palo Alto place elevated from 256,661 to five,755,989 shares. The filings set up the modifications however don’t disclose an AI thesis or clarify the supervisor’s motivation.
Two methods to serve the identical infrastructure buildout
Cisco’s August outcomes illustrate its breadth. Fiscal fourth-quarter networking income elevated 28% to roughly $9.8 billion, whereas safety income rose 14% to about $2.2 billion. Complete working money stream reached $5.4 billion.
That blend offers Cisco a number of potential routes into increasing infrastructure budgets. Networking can profit as clients join further computing capability, whereas safety merchandise can handle the ensuing safety necessities. The chance is that sturdy gear spending doesn’t robotically translate into sustained safety development or a long-lasting enchancment throughout the portfolio.
Palo Alto’s September 1 outcomes confirmed a distinct profile. Fiscal fourth-quarter income rose 34% to $3.41 billion, and next-generation safety annual recurring income reached $9.10 billion. The corporate generated roughly $1.36 billion in working money stream.
But the quarter additionally included a $282 million GAAP internet loss. A considerable fair-value cost tied to acquired convertible notes complicates that headline, so it shouldn’t be confused with money disappearing from operations. Equally, acquisition-supported development shouldn’t be handled as a completely natural measure of platform demand.
What the positions depart unresolved
August 14 quick curiosity represented 1.50% of Cisco’s float and a pair of.79% of Palo Alto’s. Neither historic determine establishes how traders will react to the subsequent outcomes.
