Cliff Asness's PAYX Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 112,264 shares of Paychex, Inc. (PAYX) worth $12.59 M, representing 0.01% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 53 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in PAYX, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2017, adding 168,968 shares. Largest reduction occurred in Q2 2023, reducing 171,781 shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's Paychex (PAYX) Holding Value Over Time
Track share changes against reported price movement
Quarterly Paychex (PAYX) Trades by Cliff Asness
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | +14,883 | Add 15.28% | 112,264 | $112.18 |
| Q3 2025 | -95,952 | Reduce 49.63% | 97,381 | $120.47 |
| Q2 2025 | -11,581 | Reduce 5.65% | 193,333 | $143.61 |
| Q1 2025 | -38,660 | Reduce 15.87% | 204,914 | $152.27 |
| Q4 2024 | +15,221 | Add 6.67% | 243,574 | $140.22 |
| Q3 2024 | +47,329 | Add 26.15% | 228,353 | $133.74 |
| Q2 2024 | +4,286 | Add 2.43% | 181,024 | $118.32 |
| Q1 2024 | +9,509 | Add 5.69% | 176,738 | $122.41 |
| Q4 2023 | -38,148 | Reduce 18.57% | 167,229 | $119.11 |
| Q3 2023 | -69,222 | Reduce 25.21% | 205,377 | $115.33 |
| Q2 2023 | -171,781 | Reduce 38.48% | 274,599 | $111.51 |
| Q1 2023 | +49,292 | Add 12.41% | 446,380 | $114.41 |
| Q4 2022 | -91,578 | Reduce 18.74% | 397,088 | $115.20 |
| Q3 2022 | -20,576 | Reduce 4.04% | 488,666 | $112.21 |
| Q2 2022 | -19,465 | Reduce 3.68% | 509,242 | $113.87 |
| Q1 2022 | -33,262 | Reduce 5.92% | 528,707 | $136.47 |
| Q4 2021 | +96,446 | Add 20.72% | 561,969 | $136.17 |
| Q3 2021 | +112,631 | Add 31.92% | 465,523 | $112.45 |
| Q2 2021 | -129,290 | Reduce 26.81% | 352,892 | $107.30 |
| Q1 2021 | -40,572 | Reduce 7.76% | 482,182 | $98.02 |
| Q4 2020 | -24,464 | Reduce 4.47% | 522,754 | $92.10 |
| Q3 2020 | +52,142 | Add 10.53% | 547,218 | $79.77 |
| Q2 2020 | -24,913 | Reduce 4.79% | 495,076 | $74.39 |
| Q1 2020 | -64,463 | Reduce 11.03% | 519,989 | $62.92 |
| Q4 2019 | -3,930 | Reduce 0.67% | 584,452 | $85.06 |
| Q3 2019 | -5,789 | Reduce 0.97% | 588,382 | $82.77 |
| Q2 2019 | -21,213 | Reduce 3.45% | 594,171 | $82.29 |
| Q1 2019 | +77,193 | Add 14.34% | 615,384 | $80.20 |
| Q4 2018 | +48,800 | Add 9.97% | 538,191 | $65.15 |
| Q3 2018 | +58,372 | Add 13.54% | 489,391 | $73.65 |
| Q2 2018 | -12,108 | Reduce 2.73% | 431,019 | $68.35 |
| Q1 2018 | -77,772 | Reduce 14.93% | 443,127 | $61.59 |
| Q4 2017 | +168,968 | Add 48.01% | 520,899 | $68.08 |
| Q3 2017 | -2,046 | Reduce 0.58% | 351,931 | $59.96 |
| Q2 2017 | +6,880 | Add 1.98% | 353,977 | $56.94 |
| Q1 2017 | +1,767 | Add 0.51% | 347,097 | $58.90 |
| Q4 2016 | +52,169 | Add 17.80% | 345,330 | $60.88 |
| Q3 2016 | +65,214 | Add 28.61% | 293,161 | $57.87 |
| Q2 2016 | +16,554 | Add 7.83% | 227,947 | $59.50 |
| Q1 2016 | +29,913 | Add 16.48% | 211,393 | $54.01 |
| Q4 2015 | +2,695 | Add 1.51% | 181,480 | $52.89 |
| Q3 2015 | +9,835 | Add 5.82% | 178,785 | $47.63 |
| Q1 2015 | +12,300 | Add 7.85% | 168,950 | $49.61 |
| Q4 2014 | +66,100 | Add 73.00% | 156,650 | $46.17 |
| Q3 2014 | -19,400 | Reduce 17.64% | 90,550 | $44.20 |
| Q2 2014 | -42,048 | Reduce 27.66% | 109,950 | $41.56 |
| Q1 2014 | +9,543 | Add 6.70% | 151,998 | $42.60 |
| Q4 2013 | +49,548 | Add 53.33% | 142,455 | $45.53 |
| Q3 2013 | +39,977 | Add 75.53% | 92,907 | $40.64 |
| Q2 2013 | +52,930 | Add 0.00% | 52,930 | $36.52 |
| Q4 2012 | +79,877 | Add 0.00% | 79,877 | $31.14 |
Cliff Asness's Paychex Investment FAQs
Cliff Asness first purchased Paychex, Inc. (PAYX) in Q4 2012, acquiring 79,877 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held Paychex, Inc. (PAYX) for 53 quarters since Q4 2012.
Cliff Asness's largest addition to Paychex, Inc. (PAYX) was in Q4 2017, adding 520,899 shares worth $35.46 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 112,264 shares of Paychex, Inc. (PAYX), valued at approximately $12.59 M.
As of the Q4 2025 filing, Paychex, Inc. (PAYX) represents approximately 0.01% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in Paychex, Inc. (PAYX) was 615,384 shares, as reported at the end of Q1 2019.