Institutional Holder T. Rowe Price Reports 3.2% Stake in BILL

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. reports beneficial ownership of 3,293,989 shares of BILL Holdings Inc. common stock, representing 3.2% of the class. The filing shows 3,196,475 shares with sole voting power and 3,293,603 shares with sole dispositive power, and no shared voting or dispositive power. The statement is submitted on a Schedule 13G/A and includes a certification that the shares are held in the ordinary course of business and not to influence control of the issuer.

Positive

• Material disclosure of a 3.2% stake provides transparency to the market
• Sole voting and dispositive power indicated for the large majority of reported shares, simplifying engagement expectations

Negative

• No indication of active engagement or intent to influence control, which may limit potential for governance-driven change
• Position size is significant for disclosure but below levels typically associated with control or clear board influence

Insights

Financial Analyst

TL;DR: Passive institutional stake of 3.2% signals a meaningful but non-controlling position; no governance intentions disclosed.

T. Rowe Price's reported 3.29 million shares amount to a modest institutional holding that exceeds 1% thresholds requiring disclosure but remains below common activist or control levels. The distribution between voting and dispositive power indicates the adviser manages voting for most shares it beneficially controls. The certification on Schedule 13G/A characterizes the position as held in the ordinary course, implying passive intent and no stated plan to influence management or control.

Corporate Governance Expert

TL;DR: Reported ownership is material for disclosure yet signals no immediate governance intervention.

The filing conforms to passive investor reporting norms: the filer affirms the stake is not for control purposes and files under Schedule 13G/A. With 0 shared voting power reported, T. Rowe Price appears to act unilaterally on voting matters for most shares it holds. From a governance angle, this level of ownership warrants monitoring but does not by itself indicate engagement or activism.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

BILL HOLDINGS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

090043100

(CUSIP Number)

08/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 090043100

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,196,475.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,293,603.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,293,989.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BILL HOLDINGS INC
(b)	Address of issuer's principal executive offices: 6220 AMERICA CENTER DR., SUITE 100, SAN JOSE, CA, 95002
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 090043100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3293989
(b)	Percent of class: 3.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3196475
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3293603
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	09/08/2025

FAQ

How many BILL (BILL) shares does T. Rowe Price report owning?

T. Rowe Price reports beneficial ownership of 3,293,989 shares of BILL common stock.

What percentage of BILL does the reported stake represent?

The reported stake represents 3.2% of BILL's outstanding common stock.

Does T. Rowe Price intend to influence control of BILL?

The Schedule 13G/A certification states the shares are held in the ordinary course of business and not to influence control.

How much voting power does T. Rowe Price have over BILL shares?

The filing shows 3,196,475 shares with sole voting power and 0 shares with shared voting power.

Under which SEC rule was this statement filed?

The document is filed as a Schedule 13G/A, indicating a passive reporting classification.