Peller's Pulse on Positioning in FinTech

Research evidence excerpt

Peller's Pulse on Positioning in FinTech

Payments, Processors, & IT Services

July 22, 2026

The Wolfe Byte

In this weekly note, we update positioning across our coverage in context to recent

performance including our view on names that are well-owned vs under-owned. Darrin Peller

We also rank our stocks by level of inbound interest from investors over the past dpeller@wolferesearch.com

week. (646) 582-9310 View Darrin’s Research

View Comp Table

●Positioning: In this weekly report, we highlight the names with the greatest Griffen Drebing

inbound interest over the prior week and detail investor positioning categorized gdrebing@wolferesearch.com(646) 582-9314

by well-owned, under-owned, or neutral.

Scott Wurtzel

swurtzel@wolferesearch.com

●Recent Investor Interest Levels: Given investor focus on crowding and (646) 582-9313

positioning within our coverage, we analyze our recent inbound interest from Paul Obrecht

investors to identify which names are the most top-of-mind. Over the past pobrecht@wolferesearch.com

week PYPL, FISV, TOST, GPN, and XYZ were names with the most interest, Cameron Dyer

respectively. For comparison, V/MA, TOST, XYZ, and COF had the most cdyer@wolferesearch.com

inbound interest in the prior week. See Exhibit 1 for a ranking of the top ten

names in our coverage by inbound interest over the past week.

●See Exhibit 2 for our view of the latest investor positioning across our coverage.

We update this tracker to reflect changes in sentiment and positioning over

the last week (however weekly changes may be minimal outside catalyst-

rich periods (i.e. earnings/other events). We believe sentiment/positioning has

changed for PAY and PYPL relative to the prior week. Alongside investor

positioning, we are also providing a weekly update on valuation/multiple