Marram Exits PayPal Holdings (PYPL) Due to Thesis Breakdown

Marram Investment Management’s second-quarter 2026 investor letter reports a +2.7% portfolio return (net of fees), resulting in a year-to-date return of +3.2%. A copy of the letter can be downloaded here. Cumulatively, since inception, the firm has achieved a +632.4% return and a +13.7% annualized return, net of fees. Positive contributions came from MLP Energy Infrastructure, Large Financials, and Biopharma, while Payment Technology investments detracted from performance. The firm...