On November 12, 2025, the University of Illinois Foundation disclosed a new position in Shift4 Payments (FOUR 0.35%), acquiring 115,848 shares for approximately $8.97 million, according to an SEC 13-F filing.
What happened
According to the filing, the fund reported ownership of 115,848 Shift4 Payments shares, with a quarter-end market value of approximately $8.97 million. The new stake accounted for approximately 3.17% of the foundation’s approximately $283.22 million in reportable U.S. equity holdings.
What else to know
- This is a new position, representing 3.17% of 13F assets under management and placing it outside the fund’s top five holdings.
Top holdings after this filing include:
- NYSEMKT: SPY: $167.32 million (59.1% of AUM)
- NYSEMKT: KWEB: $43.09 million (15.2% of AUM)
- NASDAQ: NVDA: $21.00 million (7.4% of AUM)
- NYSE: TSM: $18.67 million (6.6% of AUM)
- NASDAQ: SMH: $12.89 million (4.6% of AUM)
- As of November 11, 2025, shares of Shift4 Payments were priced at $71.40, down 31.94% over the past year and underperforming the S&P 500 by 43.34 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-11) | $71.40 |
| Market Capitalization | $4.91 billion |
| Revenue (TTM) | $3.88 billion |
| Net Income (TTM) | $170 million |
Company Snapshot
- Provides integrated payment processing, omni-channel card acceptance, POS solutions, eCommerce tools, and business intelligence software for merchants and venues.
- Generates revenue primarily from transaction fees, software subscriptions, merchant acquiring, and value-added technology services.
- Serves merchants across retail, hospitality, stadiums, entertainment venues, and eCommerce sectors in the United States.
Shift4 Payments, Inc. is a leading provider of technology-driven payment processing and software solutions, supporting over 4,000 employees and serving a diverse merchant base. The company leverages proprietary infrastructure and integrated platforms to deliver secure, scalable, and flexible payment capabilities. Its competitive advantage derives from a comprehensive suite of services that address both in-person and digital commerce, enabling clients to streamline operations and enhance customer engagement.
Foolish take
The University of Illinois Foundation only owns 12 different stocks, so it is pretty notable when it invests nearly $9 million in a company like Shift4 Payments.
Indeed, since 59% of its fund is invested in an S&P 500 ETF, one can argue that it is primarily risk-averse. Nonetheless, the Shift4 purchase stands out because it instantly became the University’s sixth-largest holding. Additionally, it is the third-largest holding that is not an ETF.
When looking more closely at the stock, it was likely bargain hunting. The stock has steadily dropped since topping out at more than $127 per share in February. The stock began falling when founder Jared Isaacman stepped down.
Given the continued decline of the stock, the University is likely losing money as it has now fallen almost 50% from its 52-week high.
NYSE: FOUR
Key Data Points
Nonetheless, it is buying into a rapidly growing and profitable fintech company, which could bode well for the fund long term.
Glossary
13F assets under management: The total value of U.S. equity securities reported by an institutional investor in SEC Form 13F filings.
Position: The amount of a particular security or asset held by an investor or fund.
Stake: The ownership interest or share held in a company by an investor or institution.
Top holdings: The largest investments in a fund or portfolio, ranked by their value.
Omni-channel: Integrating multiple sales and communication channels to provide a seamless customer experience.
POS solutions: Point-of-sale systems used by businesses to process transactions and manage sales operations.
Merchant acquiring: Services that enable businesses to accept credit or debit card payments from customers.
Value-added technology services: Additional technology offerings that enhance core products, providing extra benefits to customers.
Proprietary infrastructure: Technology systems and platforms owned and controlled by a company, not licensed from others.
Integrated platforms: Technology systems that combine multiple functions or services into a unified solution.
TTM: The 12-month period ending with the most recent quarterly report.
