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Equibles
Nixon Capital, LLC

Nixon Capital Q3 2026 Letter

Third Quarter
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Grounded extraction

Companies discussed

Only independently approved mentions
Bearish

Nixon Capital realized a loss on PayPal and exited the position after its investment thesis broke down.

“Our year-to-date losses were driven largely by four of our five largest holdings at the start of 2026, which declined an average of 23% through September. We realized a loss on PayPal (PYPL), which we exited after our investment thesis broke down.”