ETFs & Funds
Home›ETFs & Funds›Fund Industry›JB Global Capital letter points to PayPal results and…
JB Global Capital letter points to PayPal results and buybacks
In its Q2 2026 investor letter, JB Global Capital said PayPal is delivering on a thesis of durable cash generation, citing buybacks of $6 billion over the past 12 months.
JB Global Capital’s second-quarter 2026 investor letter, released by the investment firm, highlighted its position in PayPal Holdings, describing the company as a durable, cash-generating payments franchise.
According to the letter, the fund declined 12.1% in Q2, largely due to Alibaba, its largest holding, but it has returned 109.7% since inception on January 3, 2023, compared with 94.4% for the S&P 500.
The letter also discussed PayPal’s market performance, noting the stock closed at $50.53 on August 10, 2026, with a one-month return of 24.9% and a 52-week loss of 12.9%.
JB Global Capital attributed recent support for its PayPal thesis to Q2 operational and financial updates, including branded checkout stabilization at 2% for a second straight quarter, Venmo double-digit growth of 14% for a seventh consecutive quarter, Braintree growth of 13%, and full-year guidance increases for transaction margin dollars and EPS, alongside trailing twelve-month buybacks of $6 billion.
Latest closeS&P 500 7,748.50 ▲0.3%