Paychex, Inc.
US ˙ NasdaqGS ˙ US7043261079

SecurityPAYX / Paychex, Inc.
InstitutionTroy Asset Management Ltd
Latest Disclosed Ownership365,950 shares
Latest Disclosed Value $ 33,711,314
Troy Asset Management Ltd reports 36.44% decrease in ownership of PAYX / Paychex, Inc.

On May 11, 2026 - Troy Asset Management Ltd filed a 13F-HR form disclosing ownership of 365,950 shares of Paychex, Inc. (US:PAYX) valued at $33,711,314 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 575,765 shares of Paychex, Inc.. This represents a change in shares of -36.44% during the quarter. The current value of the position is $36,788,954 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-11 2026-03-31 13F PAYCHEX COM 704326107 365,950 -209,815 -36.44 33,711 -47.81 1.0057
2026-02-09 2025-12-31 13F PAYCHEX COM 704326107 575,765 -20,670 -3.47 64,589 -14.57 1.6645
2025-11-07 2025-09-30 13F PAYCHEX COM 704326107 596,435 -22,016 -3.56 75,604 -15.96 1.9412
2025-11-07 2025-06-30 13F/A-1 PAYCHEX COM 704326107 618,451 0 0.00 89,960 0.00 2.4575
2025-08-14 2025-06-30 13F PAYCHEX COM 704326107 618,451 -61,217 89,960 2.4801
2025-11-07 2025-03-31 13F/A-1 PAYCHEX COM 704326107 618,451 -116,847 -15.89 89,960 -12.75 2.4622
2025-05-14 2025-03-31 13F PAYCHEX COM 704326107 679,668 -55,630 104,859 3.3842
2025-02-12 2024-12-31 13F PAYCHEX COM 704326107 735,298 -180,332 -19.69 103,103 -16.09 3.4584
2024-11-01 2024-09-30 13F PAYCHEX COM 704326107 915,630 -147,139 -13.84 122,868 -2.49 3.9606
2025-12-03 2024-06-30 13F/A-4 PAYCHEX COM 704326107 1,062,769 -118,525 -10.03 126,002 86,797.24 4.0924
2024-07-23 2024-06-30 13F PAYCHEX COM 704326107 1,062,769 -118,525 126 4.3405
2024-04-29 2024-03-31 13F PAYCHEX COM 704326107 1,181,294 -63,268 -5.08 145 -2.03 4.4932
2024-02-07 2023-12-31 13F PAYCHEX COM 704326107 1,244,562 -74,164 -5.62 148 -99.90 4.7717
2024-09-10 2023-09-30 13F/A-1 PAYCHEX COM 704326107 1,318,726 -117,021 -8.15 152,089 -5.31 4.7816
2023-11-03 2023-09-30 13F PAYCHEX COM 704326107 1,318,726 -117,021 152 4.7816
2024-09-10 2023-06-30 13F/A-1 PAYCHEX COM 704326107 1,435,747 -10,188 -0.70 160,617 97,243.64 4.7443
2023-08-01 2023-06-30 13F PAYCHEX COM 704326107 1,435,747 -10,188 161 4.7443
2023-04-28 2023-03-31 13F PAYCHEX COM 704326107 1,445,935 -144,924 -9.11 166 -9.84 4.9897
2023-01-20 2022-12-31 13F PAYCHEX COM 704326107 1,590,859 70,041 4.61 184 -99.89 5.3548
2022-11-07 2022-09-30 13F PAYCHEX COM 704326107 1,520,818 -26,242 -1.70 170,651 -3.13 4.9756
2022-08-05 2022-06-30 13F PAYCHEX COM 704326107 1,547,060 -431,036 -21.79 176,164 -34.74 3.6601
2022-05-06 2022-03-31 13F PAYCHEX COM 704326107 1,978,096 -251,483 -11.28 269,951 -11.30 4.8600
2022-02-01 2021-12-31 13F PAYCHEX COM 704326107 2,229,579 -5,670 -0.25 304,338 21.08 5.3764
2021-11-12 2021-09-30 13F PAYCHEX COM 704326107 2,235,249 -84,015 -3.62 251,354 1.00 4.7951
2021-08-06 2021-06-30 13F PAYCHEX COM 704326107 2,319,264 -239,639 -9.36 248,858 -0.78 4.2829
2021-05-13 2021-03-31 13F PAYCHEX COM 704326107 2,558,903 -186,563 -6.80 250,824 -1.95 4.7433
2021-02-10 2020-12-31 13F PAYCHEX COM 704326107 2,745,466 93,085 3.51 255,823 20.91 5.2343
2020-11-13 2020-09-30 13F PAYCHEX COM 704326107 2,652,381 306,141 13.05 211,580 19.05 5.1533
2020-08-10 2020-06-30 13F PAYCHEX COM 704326107 2,346,240 668,577 39.85 177,728 68.37 5.0047
2020-05-14 2020-03-31 13F PAYCHEX COM 704326107 1,677,663 1,581,663 1,647.57 105,559 1,192.66 3.4713
2020-02-11 2019-12-31 13F PAYCHEX COM 704326107 96,000 0 0.00 8,166 2.77 0.2973
2019-11-13 2019-09-30 13F PAYCHEX COM 704326107 96,000 13,500 16.36 7,946 17.04 0.3203
2019-07-25 2019-06-30 13F PAYCHEX COM 704326107 82,500 0 0.00 6,789 2.60 0.2842
2019-04-26 2019-03-31 13F PAYCHEX COM 704326107 82,500 3,500 4.43 6,617 28.56 0.3240
2019-01-22 2018-12-31 13F PAYCHEX COM 704326107 79,000 10,700 15.67 5,147 2.33 0.2575
2018-10-22 2018-09-30 13F PAYCHEX COM 704326107 68,300 0 0.00 5,030 7.75 0.2372
2018-07-31 2018-06-30 13F PAYCHEX COM 704326107 68,300 0 0.00 4,668 10.96 0.2402
2018-05-14 2018-03-31 13F/A-1 PAYCHEX COM 704326107 68,300 0 0.00 4,207 -9.51 0.1940
2018-05-14 2018-03-31 13F PAYCHEX COM 704326107 68,300 0 4,649
2018-02-08 2017-12-31 13F PAYCHEX COM 704326107 68,300 0 0.00 4,649 13.53 0.1919
2017-10-24 2017-09-30 13F PAYCHEX COM 704326107 68,300 15,000 28.14 4,095 34.93 0.1853
2017-08-15 2017-06-30 13F PAYCHEX COM 043261079 53,300 17,650 49.51 3,035 38.65 0.1282
2017-05-12 2017-03-31 13F PAYCHEX COM 043261079 35,650 0 0.00 2,189 0.00 0.1077
2017-02-14 2016-12-31 13F PAYCHEX COM 043261079 35,650 35,650 2,189 0.1077
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.