SCHEDULE 13G: Investment Firm 22C Capital and Principals Disclose 5.16% Passive Stake in CBIZ, Inc.

22C Capital LLC, along with its indirect owners Eric J. Edell and David Randall Winn, has disclosed a passive beneficial ownership of 5.16% of CBIZ, Inc.'s common stock, totaling 2,804,527 shares.

Summary

• The filing identifies CBIZ, Inc. as the issuer of the Common Stock, with a CUSIP Number of 124805102.
• The reporting persons are 22C Capital LLC, a Delaware limited liability company, and its indirect owners, Eric J. Edell and David Randall Winn, both United States citizens.
• The reporting persons collectively beneficially own 2,804,527 shares of CBIZ, Inc. Common Stock.
• This ownership represents 5.16% of the outstanding class of securities.
• The percentage is based on 54,395,610 shares of Common Stock outstanding as of April 21, 2025, as reported in CBIZ, Inc.'s quarterly report on Form 10-Q filed with the SEC on April 25, 2025.
• The reporting persons have shared voting power and shared dispositive power over all 2,804,527 shares.
• The filing is made under Rule 13d-1(b), indicating a passive investment purpose, and the reporting persons certify that the securities were not acquired to change or influence the control of the issuer.

Sentiment

Score: 7

Explanation: The filing is a routine disclosure of a passive beneficial ownership stake, indicating a significant investment by 22C Capital LLC and its principals in CBIZ, Inc. without any stated intent to influence control. This is generally viewed as a neutral to slightly positive signal, reflecting investor confidence.

Positives

• Disclosure of a significant passive investment by 22C Capital LLC and its principals, indicating confidence in CBIZ, Inc.'s long-term prospects.
• The investment is explicitly stated as passive, meaning the reporting persons do not intend to influence or change the control of CBIZ, Inc., which can provide stability.

Negatives

• No specific negative information regarding CBIZ, Inc. or its operations is disclosed in this passive ownership filing.

Risks

• The filing explicitly states that the securities were not acquired for the purpose of changing or influencing the control of the issuer, mitigating immediate control-related risks from this specific filing.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance from CBIZ, Inc. or the reporting persons regarding the company's future performance or strategic direction.

Management Comments

• The Reporting Persons certified that the securities 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 Rule 14a-11.

Industry Context

This Schedule 13G filing represents a standard disclosure of a significant passive investment by an institutional investor and its principals in a publicly traded company within the business services sector. Such filings are common and indicate an investor's belief in the long-term value of the company without seeking to exert control.

Related Party Transactions

• 22C Capital LLC provides investment advisory services to various investment vehicles that directly or indirectly hold the shares of Common Stock reported herein. Eric J. Edell and David Randall Winn are the indirect owners of 22C Capital LLC, establishing a related party relationship among the reporting persons and the investment vehicles they manage.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by an institutional investor may be viewed positively, potentially signaling confidence in the company's long-term prospects.
• Company Management: Awareness of a new significant passive shareholder, though without immediate implications for control or strategic changes from this specific filing.

Next Steps

• Continued passive investment in CBIZ, Inc. common stock by the Reporting Persons, as indicated by the nature of the Schedule 13G filing.

Key Dates

Keywords

CBIZ, 22C Capital, Eric J. Edell, David Randall Winn, Schedule 13G, beneficial ownership, common stock, investment adviser, passive investment, SEC filing