L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 23 Jan 2026
Managers listing it
32
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 10 listed it in both
Shares listed
12,507,998
combined, among listed positions
Reported value
$2.0bn
combined, at the quarter end

Among the 92 comparable managers: 18 buyers (opened or added shares) and 18 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -56,043.

Managers listing PAYC in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

32 of 32 holders

ActionFiling
Harris Associates LP3,209,759$512m0.65%Added+1,305,22517 Feb 2026 (the filing on sec.gov)
Polen Capital Management LLC1,835,028$292m1.25%Trimmed-801,39512 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)1,665,167$265munder 0.1%Trimmed-730,65317 Feb 2026 (the filing on sec.gov)
Baillie Gifford & Co1,638,894$261m0.22%Trimmed-69,76823 Jan 2026 (the filing on sec.gov)
Invesco Ltd1,559,682$249munder 0.1%Added+343,49419 Feb 2026 (the filing on sec.gov)
Woodline Partners LP318,516$51m0.20%Added+37,68617 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP300,110$48munder 0.1%Trimmed-84,25413 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP293,956$47m0.07%Trimmed-238,16817 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP258,500$41m0.08%Trimmed-69,20017 Feb 2026 (the filing on sec.gov)
Millennium Management LLC257,447$41munder 0.1%Added+202,40317 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC158,391$25munder 0.1%Added+94,78517 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP146,862$23m0.17%Trimmed-56,91217 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP139,187$22munder 0.1%Trimmed-73,43517 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC125,604$20munder 0.1%Trimmed-17,63513 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP110,593$18munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC75,291$12munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc72,095$11munder 0.1%Added+1,45717 Feb 2026 (the filing on sec.gov)
Man Group PLC69,595$11munder 0.1%Added+8,98817 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP54,782$8.7m0.07%Newnew17 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP40,295$6.4munder 0.1%Added+34,44113 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP37,096$5.9munder 0.1%Added+11,79217 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC31,364$5.0munder 0.1%Added+25,18610 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.30,284$4.8munder 0.1%Added+19,92617 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC22,749$3.6munder 0.1%Added+1,94417 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP14,966$2.4munder 0.1%Trimmed-99,68317 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
10 in Q3 2024 to 9 in Q2 2026

Tracked managers listing it, at least.

0102030201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PAYC by quarter
QuarterHoldersReported valueBuyersSellers
Q1 20151$205kn.a.n.a.
Q2 20152$1.4mn.a.n.a.
Q3 20151$1.5mn.a.n.a.
Q4 20153$36mn.a.n.a.
Q1 20162$34mn.a.n.a.
Q2 20164$58mn.a.n.a.
Q3 20163$217mn.a.n.a.
Q4 20164$718mn.a.n.a.
Q1 20174$995mn.a.n.a.
Q2 20173$952mn.a.n.a.
Q3 20173$1.1bnn.a.n.a.
Q4 20175$1.2bnn.a.n.a.
Q1 20189$1.5bnn.a.n.a.
Q2 20189$1.4bnn.a.n.a.
Q3 201811$1.6bnn.a.n.a.
Q4 20189$1.3bnn.a.n.a.
Q1 201913$1.9bnn.a.n.a.
Q2 201915$1.8bnn.a.n.a.
Q3 201913$1.4bnn.a.n.a.
Q4 201914$2.3bnn.a.n.a.
Q1 202012$1.8bnn.a.n.a.
Q2 202016$2.6bnn.a.n.a.
Q3 202012$2.2bnn.a.n.a.
Q4 202011$3.3bnn.a.n.a.
Q1 202114$2.3bnn.a.n.a.
Q2 202114$2.1bnn.a.n.a.
Q3 202118$3.7bnn.a.n.a.
Q4 202120$3.4bnn.a.n.a.
Q1 202221$2.3bnn.a.n.a.
Q2 202220$1.7bnn.a.n.a.
Q3 202226$2.1bnn.a.n.a.
Q4 202220$1.9bnn.a.n.a.
Q1 202324$2.2bnn.a.n.a.
Q2 202321$2.6bnn.a.n.a.
Q3 202314$1.2bnn.a.n.a.
Q4 202318$1.5bn154
Q1 202413$1.7bn105
Q2 202412$1.3bn94
Q3 202410$1.6bn64
Q4 202410$2.1bn28
Q1 202510$2.6bn55
Q2 20259$2.3bn64
Q3 202511$2.2bn74
Q4 202511$1.3bn1818
Q1 202611$886m2214
Q2 20269$814m1619

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

PAYC and GOOGL →PAYC and AMZN →PAYC and MSFT →Choose a stock to compare with PAYC →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own PAYC, latest filings →Back to the 13F Explorer →