Corpay, Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 671 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Corpay, Inc. was formerly named FLEETCOR Technologies, Inc. The CIK (0001175454) and CUSIP (219948106) are unchanged; the FY2025 10-K and its exhibits still carry legacy EDGAR filenames (flt-20251231.htm), while the Q2 2026 10-Q uses the current cpay-20260630.htm naming. All figures below are matched to the company by CUSIP 219948106, not by issuer name string, since some historical 13F rows may still say FLEETCOR.
• shares_outstanding (65,659,599) is taken from the Q2 2026 10-Q cover page: 'Class Outstanding at 7/31/2026, Common Stock, $0.001 par value, 65,659,599.' This is close to but not identical to the 30 Jun 2026 balance-sheet count (65,655,113 shares outstanding, of 132,878,962 issued, i.e. roughly half of issued shares held in treasury under Corpay's buyback program) and the 66,131,990 shares entitled to vote as of the 23 Mar 2026 proxy record date. All register percentages in this file are recomputed against the newest 65,659,599 figure.
• market_cap_usd uses the 19 Aug 2026 NYSE close of $407.08 (Nasdaq quote API) times 65,659,599 shares outstanding.
• Holdings side: both unverified leads given for this research were checked against the filings and confirmed, though the Brazil lead turned out narrower than described. (a) AvidXchange: CONFIRMED. Corpay holds approximately 35% of the equity of a limited partnership formed with TPG in May 2025 that took AvidXchange Holdings, Inc. (formerly NASDAQ: AVDX) private in October 2025 (TPG ~56%, AvidXchange management the remainder); sized at the $578 million as-invested cost, since no separate current carrying value is disclosed for this position alone (it is folded into a combined 'investments without readily determinable fair values' balance of $576.2 million at 30 Jun 2026 / $601.9 million at 31 Dec 2025 that also covers other, smaller cost-method investments predating AvidXchange, evidenced by the $60.1 million balance at 31 Dec 2024). (b) Brazilian business: PARTIALLY CONFIRMED but not a toll business specifically. No toll-branded Brazilian JV was found; instead the FY2025 10-K discloses an unnamed, unsized $37.4 million equity-method joint venture with an unnamed third-party Brazilian bank, made in 2021. Corpay's actual Brazil operations (about 16-17% of Q2 2026 revenue) are wholly owned and consolidated, separate from this JV.
• Searched the newest 10-K (FY2025, filed 27 Feb 2026, period 31 Dec 2025) and the Q2 2026 10-Q (filed 10 Aug 2026, period 30 Jun 2026, the NEWEST filing on record for this company and the primary source used throughout) in full for: equity method, equity investment, non-marketable, unrealized gain, joint venture, cost method, investments in affiliates, variable interest entity, AvidXchange, Brazil, toll, and noncontrolling interest. Also checked Exhibit 21 (subsidiaries list) of the FY2025 10-K: a bare name list with no ownership-percentage column and no AvidXchange or Brazilian-JV entity listed, which is a genuine negative there consistent with both being equity-method investees rather than consolidated subsidiaries.
• A third item surfaced that is NOT a Corpay holding and is excluded here: in December 2025 Mastercard invested $300 million for a 2.3% noncontrolling interest IN Corpay's own cross-border payments business (Mastercard holding a stake in a Corpay subsidiary, the reverse direction from a Corpay holding). This is recorded on Corpay's own balance sheet as 'Redeemable noncontrolling interest' ($314.0 million at 30 Jun 2026) with mutual put/call rights starting 2027/2028.
• Also found but not recorded as a holding: a 'cost method investment' was disposed of for a gain in Q2 2025; its name and sale price are not disclosed in either filing searched.
• Vanguard: parent CIK 0000102909 filed Form 13F-NT (no holdings) for Q2 2026, so per the project rule the successor entities were swept and summed: 8 entities (CIKs 0000933478, 0001550100, 0001680208, 0001767306, 0001811242, 0001984256, 0002100119, 0002100121), enumerated from data/registers/CPAY.json and each independently refetched fresh for Q2 2026, totaling 7,614,279 shares.
• Capital Group checked and found at ZERO: Capital World Investors (CIK 0001422849), Capital International Investors (CIK 0001562230), and Capital Research Global Investors (CIK 0001422848) were each independently checked against CUSIP 219948106 in their own Q2 2026 13F-HR filings; none holds a Corpay position. Consistent with the register snapshot, which also omits Capital Group entirely for this company.
• T. Rowe Price: both registrants checked. T. Rowe Price Associates, Inc. (CIK 0000080255) holds 2,454,914 shares (used above; its filing reports values in thousands, corrected in this file). T. Rowe Price Investment Management, Inc. (CIK 0001897612), a separate registrant, holds ZERO Corpay shares as of its own Q2 2026 13F-HR; checked directly rather than assumed.
• Register self-gate, computed the way the chart computes it (raw shares for every row except the aggregate container, which is reduced by the shares of the member row that rolls up into it): 11 rows, total 38,552,312 shares against 65,659,599 shares outstanding, 58.72% of the company. This is above the 25-45% band typical of this project's registers. Investigated rather than trimmed to fit: (a) implied price (value_usd / shares) for every institutional row lands within about 2.5% of $333.2-333.3 per share across nine independently sourced Q2 2026 13F-HR filings, matching Corpay's approximate 30 Jun 2026 trading level, so there is no wrong-units or stale-price contamination; (b) no holder name appears twice and the Vanguard family sum is not duplicated by any successor also listed individually; (c) both insider rows use only the proxy's 'Common Shares Beneficially Owned' column, excluding right-to-acquire option shares. The elevated concentration therefore looks like a genuine feature of Corpay's ownership base (a small number of very large active and index managers each holding 7-12%, plus a sizeable founder-CEO stake) rather than a pipeline defect, but is flagged here as instructed.
• Register rows beyond the 11 recorded here: roughly 29 further 13F holders appear in data/registers/CPAY.json (31 Mar 2026 snapshot) that were not independently refetched for Q2 2026, including Boston Partners, Select Equity Group, Wellington Management Group, Van Lanschot Kempen Investment Management, Invesco, Spruce House Investment Management, Dimensional Fund Advisors, Morgan Stanley, Lyrical Asset Management, Northern Trust, Goldman Sachs, Hawk Ridge Capital Management, Mawer Investment Management, Allianz Asset Management, Charles Schwab Investment Management, UBS, AQR Capital Management, Legal & General, Bank of America, Bank of New York Mellon, BloombergSen, American Century, Barclays, Raymond James, Nuveen, Wells Fargo, Royal London Asset Management, Petrus Trust Company, and Deutsche Bank; the 11 rows recorded here already exceed the brief's top-8-to-12 target.
• Coordinator verification of the 58.72 per cent self-gate, which sits above the project's 55 per cent investigate-rather-than-ship line. It was investigated and is genuine concentration, not a double count. Every institutional row was compared against this project's own 13F-derived snapshot at data/registers/CPAY.json, built from 671 filers at 31 Mar 2026 and independent of the filings read here: Vanguard 8,130,391 there against 7,614,279 here, BlackRock 6,173,498 against 5,709,856, Orbis Allan Gray 5,345,425 against 5,408,507, JPMorgan 4,821,440 against 4,766,416, State Street 2,942,623 against 2,831,554, T. Rowe Price Associates 2,251,085 against 2,454,914, Geode 1,946,042 against 1,775,827, Tiger Global 1,752,146 against 2,149,877, FMR 2,696,926 against 3,344,049. Each curated row therefore corresponds to a distinct filer family that an independent source also reports at that size. That snapshot reports 63,792,609 shares across 671 filers, approximately 97 per cent of the 65,659,599 shares outstanding, so Corpay is close to wholly institutionally held and a top-nine institutional total of roughly 55 per cent plus a 3.80 per cent insider group is consistent rather than anomalous. The insider overlap was checked directly: the container 'Directors and executive officers as a group' holds 2,497,033 shares and its one listed member, Ronald F. Clarke at 2,344,870, is correctly reduced out of it, leaving a residual of 152,163 for the remaining directors and officers, which is small but positive and therefore not a violation.