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Paychex Inc (PAYX)

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Institutional Investors' Holdings

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No.	Name	Shares	Value	% Port
1.	Vanguard Group Inc	32,215,957	$4,686,133,105	0.08%
2.	Blackrock, Inc.	27,369,482	$3,981,164,912	0.08%
3.	Capital International Investors	22,514,178	$3,274,228,863	0.56%
4.	State Street Corp	14,066,067	$2,046,050,106	0.08%
5.	Schwab Charles Investment Management Inc	11,033,312	$1,604,905,564	0.28%