[SCHEDULE 13G] Newbury Street II Acquisition Corp SEC Filing

Rhea-AI Filing Summary

Paychex Inc. (PAYX) Form 4 – 21 Jul 2025

Director Joseph G. Doody reported an exempt "J" transaction dated 17 Jul 2025. A total of 761 common shares were moved from his direct account into the Joseph G. Doody Revocable Living Trust at $0 consideration. Following the transfer, Doody’s holdings stand at 164 directly-held shares and 23,758 shares held indirectly through the trust; total ownership is unchanged.

Derivative positions were unchanged. He retains 29,227 employee stock options with strike prices ranging from $73.53–$140.68 and expirations between 2029 and 2035.

No open-market buying or selling occurred; the filing reflects an internal re-titling of shares and carries minimal market impact.

Insights

Securities Analyst

TL;DR: Routine internal share transfer; no purchase/sale, negligible signal for PAYX valuation.

The "J" code designates a non-market, exempt transaction—here a shift of 761 shares into Doody’s revocable trust. Because no consideration was exchanged and aggregate ownership is unchanged, the filing offers no directional insight into insider sentiment. Option holdings remain intact at 29.2 k contracts, indicating continued long-term equity exposure. For investors, the event is administrative rather than indicative of future price action.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Newbury Street II Acquisition Corp

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G6439S109

(CUSIP Number)

06/30/2025

(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. G6439S109

1

Names of Reporting Persons

WOLVERINE ASSET MANAGEMENT LLC

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 903,994.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 903,994.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

903,994.00

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)

5.02 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. G6439S109

1

Names of Reporting Persons

Wolverine Trading Partners, 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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 903,994.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 903,994.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

903,994.00

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)

5.02 %

12

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13G

CUSIP No. G6439S109

1

Names of Reporting Persons

Wolverine Holdings, L.P.

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 903,994.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 903,994.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

903,994.00

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)

5.02 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. G6439S109

1

Names of Reporting Persons

Christopher L. Gust

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 903,994.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 903,994.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

903,994.00

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)

5.02 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

CUSIP No. G6439S109

1

Names of Reporting Persons

Robert R. Bellick

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 903,994.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 903,994.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

903,994.00

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)

5.02 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Newbury Street II Acquisition Corp
(b)	Address of issuer's principal executive offices: 121 High Street, Floor 3, Boston, Massachusetts, 02110
Item 2.
(a)	Name of person filing: Wolverine Asset Management, LLC Wolverine Holdings, L.P. Wolverine Trading Partners, Inc. Christopher L. Gust Robert R. Bellick
(b)	Address or principal business office or, if none, residence: c/o Wolverine Asset Management, LLC 175 West Jackson Boulevard, Suite 340 Chicago, IL 60604
(c)	Citizenship: Wolverine Asset Management, LLC - Illinois Wolverine Holdings, L.P. - Illinois Wolverine Trading Partners, Inc. - Illinois Christopher L. Gust - U.S. Citizen Robert R. Bellick - U.S. Citizen
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share
(e)	CUSIP No.: G6439S109
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: Wolverine Asset Management, LLC ("WAM") is an investment manager and has voting and dispositive power over 903,994 of the Issuer's Class A ordinary shares. The sole member and manager of WAM is Wolverine Holdings, L.P. ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc. ("WTP"), the general partner of Wolverine Holdings.
(b)	Percent of class: 5.02%. WAM may be deemed the beneficial owner of 5.02% of the Issuer's Class A ordinary shares, and each of Wolverine Holdings, WTP, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 5.02% of the Issuer's outstanding Class A ordinary shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 17,998,375 (the number of Class A ordinary shares outstanding as of May 15, 2025 according to the Issuer's Form 10-Q filed May 15, 2025).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: WAM has shared power to vote or direct the vote of 903,994 Class A ordinary shares of the Issuer, and each of Wolverine Holdings, WTP, Mr. Bellick, and Mr. Gust has shared power to vote or direct the vote of 903,994 Class A ordinary shares of the Issuer, in each case as set forth in Item 4(a).
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: WAM has shared power to dispose or direct the disposition of 903,994 Class A ordinary shares of the Issuer, and each of Wolverine Holdings, WTP, Mr. Bellick, and Mr. Gust has shared power to dispose or direct the disposition of 903,994 Class A ordinary shares of the Issuer, in each case as set forth in Item 4(a) above.
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. Wolverine Flagship Fund Trading Limited is known to have the right to receive the receipt of dividends from, or the proceeds from the sale of, the Issuer's Class A ordinary shares covered by this statement that may be deemed to be beneficially owned by WAM.
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.

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.

WOLVERINE ASSET MANAGEMENT LLC

Signature:	/s/ Kenneth L. Nadel
Name/Title:	Kenneth L. Nadel, Chief Operating Officer
Date:	07/08/2025

Wolverine Trading Partners, Inc.

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust, Authorized Signatory
Date:	07/08/2025

Wolverine Holdings, L.P.

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust, Managing Director
Date:	07/08/2025

Christopher L. Gust

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust
Date:	07/08/2025

Robert R. Bellick

Signature:	/s/ Robert R. Bellick
Name/Title:	Robert R. Bellick
Date:	07/08/2025

FAQ

How many PAYX shares did Director Joseph Doody transfer on 17 Jul 2025?

He transferred 761 common shares from direct ownership to his revocable trust.

Did the transaction involve a sale or purchase price?

No. The shares were transferred at $0 as an exempt, non-market transaction (code "J").

What are Doody’s PAYX share holdings after the filing?

He now holds 164 shares directly and 23,758 shares indirectly via the trust.

Were any PAYX stock options exercised or altered?

No. Doody continues to hold 29,227 vested options; strike prices range from $73.53 to $140.68.

Does the Form 4 signal insider buying or selling pressure?

Likely not; it reflects an internal ownership re-classification, leaving total share exposure unchanged.