Marram Investment Management liquidated its PayPal stake, citing leadership concerns and a lack of industry experience in the new CEO, as the stock faces a 21.8% decline over the past year.
Marram exited PayPal due to thesis breakdown after the Board abruptly fired the CEO and appointed a successor with no payments/technology experience, leading to a bearish outlook.
Marram Investment Management reported a 2.7% net return for Q2 2026, bringing year-to-date gains to 3.2%. The firm disclosed a full exit from PayPal Holdings, citing a breakdown in its investment thesis after the Board replaced the CEO with an executive lacking payments or technology experience.
The firm exited the position because its investment thesis, which relied on a capable management team rebuilding the company's technology and brand, was invalidated by the board's decision to appoint a CEO without relevant industry experience.