PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

GF FUND MANAGEMENT CO. LTD.'s Holding History (CIK: 0002057060)

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

Q4 2025

Shares 75,914 Value ($000) $8,516 Avg Close $116.54 Range $108.00 - $128.00

Q3 2025

Shares 71,736 Value ($000) $9,093 Avg Close $137.17 Range $117.88 - $146.69

Q2 2025

Shares 71,736 Value ($000) $10,435 Avg Close $147.52 Range $131.76 - $158.49

Q1 2025

Shares 69,514 Value ($000) $10,725 Avg Close $143.17 Range $130.91 - $154.56

Q4 2024

Shares 68,209 Value ($000) $9,564 Avg Close $137.31 Range $127.32 - $146.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	75,914	$8,516	$116.54	$108.00 - $128.00
Q3 2025	71,736	$9,093	$137.17	$117.88 - $146.69
Q2 2025	71,736	$10,435	$147.52	$131.76 - $158.49
Q1 2025	69,514	$10,725	$143.17	$130.91 - $154.56
Q4 2024	68,209	$9,564	$137.31	$127.32 - $146.13