PAYC

Why super-investors own PAYC

Cohort interest in PAYC remains narrow but stable, with four managers holding a combined $423M — a figure dominated almost entirely by Bill Nygren's $396M position, which nonetheless represents only 0.5% of his portfolio. The highest individual conviction belongs to Robert Vinall, who added to his position this quarter, bringing it to 0.7% of his book — the only activity among the four holders. Joel Greenblatt and Polen Capital carry effectively token exposure. The owner count has held flat at one core holder for seven consecutive quarters before reaching four, suggesting interest is stable rather than building; no manager initiated or exited in 2026Q1, and no meaningful concentration signals a high-conviction thesis forming across the cohort.

AI-synthesized from 13F filings. Not investment advice.