Durable Capital Reports 2.94M CBIZ Shares; 5.5% Ownership

Rhea-AI Filing Summary

Durable Capital Partners LP reported a 5.5% ownership stake in CBIZ, Inc. (ticker CBZ), holding 2,939,563 shares of common stock. The filing states the percentage is based on 53,975,243 outstanding shares as of July 25, 2025. Durable Capital Master Fund LP directly holds the shares and Durable Capital Partners LP, as its investment adviser, has sole voting and dispositive power. The reporting entity is a Delaware limited partnership and is identified as an investment adviser and private investor. The filing asserts the shares were acquired in the ordinary course of business and not to influence control.

Positive

• Disclosure of a clear, material stake: Durable Capital reports a 5.5% position, improving transparency for investors
• Sole voting and dispositive power is explicitly disclosed, clarifying who controls the shares

Negative

• None.

Insights

Financial Analyst

TL;DR: Durable Capital owns a disclosed 5.5% stake in CBIZ, a notable passive equity position that may attract investor attention.

The filing shows a meaningful minority stake of 2,939,563 shares representing 5.5% of CBIZ based on 53,975,243 shares outstanding as of July 25, 2025. As the reporting person is an investment adviser with sole voting and dispositive power over the shares held by Durable Capital Master Fund LP, this disclosure provides transparency on ownership concentration. The certification that holdings were not acquired to influence control suggests a passive intent, reducing immediate governance risks but increasing monitoring interest among other shareholders given the stake size.

Corporate Governance Expert

TL;DR: A >5% filing is material for disclosure though the filer states no intent to seek control.

The Schedule 13G indicates Durable Capital Partners LP is classified as an investment adviser/private investor and reports sole voting and dispositive power over 2,939,563 shares. Crossing the 5% threshold triggers public disclosure obligations; the filer explicitly certifies that the position is held in the ordinary course and not for control purposes. From a governance perspective, this reduces immediate takeover concerns but warrants attention to any future amendments or Schedule 13D filings that would signal activist intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

CBIZ, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

124805102

(CUSIP Number)

08/20/2025

(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. 124805102

1

Names of Reporting Persons

Durable Capital Partners LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,939,563.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,939,563.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,939,563.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CBIZ, Inc.
(b)	Address of issuer's principal executive offices: 5959 Rockside Woods, Blvd. N. Suite 600, Independence, Ohio 44131
Item 2.
(a)	Name of person filing: Durable Capital Partners LP
(b)	Address or principal business office or, if none, residence: 4747 Bethesda Avenue, Suite 1002, Bethesda, Maryland 20814
(c)	Citizenship: The Reporting Person is a limited partnership organized under the laws of the State of Delaware.
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP No.: 124805102
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: The information required by this item with respect to the Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The ownership percentages reported are based on 53,975,243 outstanding Common Stock, $0.01 par value (the "Shares") as of July 25, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on July 31, 2025. Durable Capital Master Fund LP directly holds 2,939,563 Shares. The Reporting Person, as the investment adviser to Durable Capital Master Fund LP, has sole power to direct the vote and disposition of the Shares. Durable Capital Partners GP LLC ("Durable GP") is the general partner of the Reporting Person, and Henry Ellenbogen is the chief investment officer of the Reporting Person and the managing member of Durable GP.
(b)	Percent of class: 5.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2939563
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2939563
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See disclosure of relationships among parties under Item 4. The economic benefits of the Shares are shared based on agreements among the parties.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See control and Shares holding disclosure in Item 4.
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.

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.

Durable Capital Partners LP

Signature:	/s/ Julie Jack
Name/Title:	Authorized Person
Date:	08/27/2025

FAQ

How many CBIZ (CBZ) shares does Durable Capital Partners LP report owning?

The filing reports 2,939,563 shares beneficially owned.

What percentage of CBIZ outstanding shares does this represent?

The reported stake represents 5.5% of CBIZ based on 53,975,243 shares outstanding as of July 25, 2025.

Does Durable Capital have voting control over these shares?

Yes. The filing states Durable Capital Partners LP has sole voting and sole dispositive power over the 2,939,563 shares.

What is the reporting person's legal form and location?

The reporting person is Durable Capital Partners LP, a limited partnership organized in Delaware with an address at 4747 Bethesda Avenue, Suite 1002, Bethesda, Maryland 20814.

Did the filer state an intent to influence control of CBIZ?

The filer certified the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.