PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

Park Avenue Institutional Advisers LLC's Holding History (CIK: 0001640801)

Note: Option positions (PUT/CALL) are excluded.

Q2 2016

Shares 2,022 Value ($000) $120 Avg Close $40.17 Range $38.40 - $44.78

Q1 2016

Shares 2,022 Value ($000) $109 Avg Close $37.48 Range $33.83 - $40.71

Q4 2015

Shares 2,079 Value ($000) $110 Avg Close $38.55 Range $34.02 - $40.50

Q3 2015

Shares 2,139 Value ($000) $102 Avg Close $34.10 Range $30.50 - $35.69

Q2 2015

Shares 2,204 Value ($000) $103 Avg Close $35.43 Range $33.81 - $36.83

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	2,022	$120	$40.17	$38.40 - $44.78
Q1 2016	2,022	$109	$37.48	$33.83 - $40.71
Q4 2015	2,079	$110	$38.55	$34.02 - $40.50
Q3 2015	2,139	$102	$34.10	$30.50 - $35.69
Q2 2015	2,204	$103	$35.43	$33.81 - $36.83