Portman Square Capital 13F: New $26M Stake in Cloudflare (NET)

Portman Square Capital opened a new position in Cloudflare, Inc. NET, picking up 75,939 shares worth about $26.4 million. The investment was revealed in a Form 13F filing with the Securities and Exchange Commission on October 15, 2026. Because 13F reports look backward at the end of a quarter, this filing shows past holdings and may not reflect the fund's current trades today.

What Changed in Portman Square Capital's Cloudflare Position

The fund added a brand-new stake of 75,939 shares in Cloudflare, valued at $26,437,209.60. Portman Square Capital held no shares previously.

Other Institutional Activity in Cloudflare

Capital World Investors grew its holdings by 1,589,276 shares, ending with 24,325,692 shares worth about $7,207,702,242 following a 7.0% increase. Blackrock Inc. grew its holdings by 504,164 shares, ending with 21,598,907 shares worth about $6,399,755,880 following a 2.4% increase. Vanguard Portfolio Management LLC grew its holdings by 779,552 shares, ending with 16,819,726 shares worth about $4,983,684,608 following a 4.9% increase. Morgan Stanley reduced its holdings by 624,183 shares, ending with 15,258,327 shares worth about $4,521,042,103 following a 3.9% decrease. BAILLIE GIFFORD & CO cut its holdings by 1,326,566 shares, ending with 14,598,594 shares worth about $4,325,563,223 following an 8.3% decrease.

Cloudflare, Inc. Stock Down 9.5%

Cloudflare recently traded around $293.68 per share as of October 16, 2026. The stock sits about 20.7% below its 52-week high of $370.35 and well above its 52-week low of $158.83.

Recent Earnings

Cloudflare reported trailing twelve-month revenue of $2.51 billion with an EPS of -$0.58. The company is set to report its next financial results on November 5, 2026.

Insider Buying and Selling at Cloudflare, Inc.

Company insiders have been active, including multiple sales by directors and executives such as Carl Ledbetter and Thomas J Seifert leading up to October 2026.

Analysts Set New Price Targets

Wall Street firms recently updated their views, with analysts maintaining a consensus buy rating and a mean price target of $343.42.

About Cloudflare

Cloudflare, Inc. provides cloud-based infrastructure and security services to businesses around the world. Its platform helps protect web properties and speed up applications, making it a key player in enterprise software infrastructure.

Bottom Line

Investors will look to Cloudflare's upcoming earnings report on November 5, 2026, to gauge the company's growth trajectory. Form 13F filings offer a helpful glimpse into institutional portfolios, but they remain historical snapshots. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.