The Black Day Trader, LLC

Billionaire Babies III

January 26, 2021

Financial Technology

Have you ever bought something online? The payment mechanism that you used falls under
fintech. Have you heard about crowdfunding? That’s fintech. Have you used your phone to pay
for anything? Fintech again!

So, what and--more importantly, who has set the scene for fintech being all around us at the
moment?
Billionaire Babies III: Fintech

by The Black Day Trader, LLC

Some Factors Driving the Growth of Fintech

• People want to get queries answered today via Twitter, they are more likely to come
across an ad on FaceBook than in the newspaper, they prefer to chat with a customer
representative online rather than make a call to a data centre.
• Fintechs are much further ahead in this sector than banks and are “on the same page”
as customers and their needs.
• Technology companies have adopted a “mobile first” mindset, as people are more likely
to engage with any and every type of service on a mobile today than on a desktop.
• One in three Millennials is open to switching banks in the next 90 days, and 33% think
they won’t need a bank at all.
• A mobile payments app linked to my debit or credit cards removes the need to carry
them around. A peer-to-peer foreign exchange facility reduces the cost of doing
business abroad.
Billionaire Babies III: Fintech

What Purpose Does Financial Technology Serve

• Blockchain dramatically increases the security of transactions and hence improves
quality, reduces risk and delivers peace of mind.
• Big data informs suppliers of financial services about the aggregated actions of their
customers, so that they can generate predictive analytics and offer more tailored,
convenient services to users.
• Cost comparison websites save time and simplify the process of going into each
offering, finding what you’re looking for and then deciphering what’s best for you.

As a result, the growing customer demand for fintech services is likely to rise and rise, in the
main.
Section I: Fintech Company Data

Paypal
PayPal Holdings, Inc. engages in the development of a technology platform for digital
payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and
Paydiant products. The firm manages a two-sided proprietary global technology platform
that links customers, which consist of both merchants and consumers, to facilitate the
processing of payment transactions. It allows its customers to use their account for both
purchase and paying for goods, as well as to transfer and withdraw funds. It offers
consumers person-to-person payment solutions through its PayPal Website and mobile
application, Venmo and Xoom. The company was founded in December 1998 and is
headquartered in San Jose, CA.
The 85.28% of PYPL shares held by institutional investors is a greater percentage than is
typically held for stocks in the Data Processing Services industry.

Square, Inc.
Square, Inc. engages in the provision of credit card payment processing solutions. It is a
cohesive commerce ecosystem that helps sellers start, run, and grow their businesses. With
its system, sellers gain access to features such as next-day settlements, digital receipts,
payment dispute management, data security, and Payment Card Industry compliance. The
firm offers additional point-of-sale services, financial services, and marketing services. The
company was founded by Jack Dorsey and Jim McKelvey in February 2009 and is
headquartered in San Francisco, CA.
Institutional investors purchased a net $2.9 million shares of SQ during the quarter ended
June 2019. This may signal that the smart money is gaining interest in this company as the
77.95% of shares outstanding that institutional investors hold is actually below the
Information Technology Services industry average.

Apple Inc.
Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal
computers, tablets, wearables and accessories, and other variety of related services. It
operates through the following geographical segments: Americas, Europe, Greater China,
Japan, and Rest of Asia Pacific. Its products and services include iPhone, Mac, iPad,
AirPods, Apple TV, Apple Watch, Beats products, AppleCare, iCloud, digital content stores,
streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald
Gerald Wayne, and Stephen G. Wozniak in 1977 and is headquartered in Cupertino, CA.
Institutional investors hold a majority ownership of AAPL through the 59.28% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Telecommunications Equipment industry.

Fiserv, Inc.
Fiserv, Inc. engages in the provision of financial services technology. It operates through
the Payments, Financial, and Corporate and Other segments. The Payments segment
primarily provides electronic bill payment and presentment services, internet and mobile
banking software and services, account-to-account transfers, person-to-person payment
services, debit and credit card processing and services, payments infrastructure services,
and other electronic payments software and services. The Financial segment provides
financial institutions with account processing services, item processing and source capture
services, loan origination and servicing products, cash management and consulting
services, and other products and services that support numerous types of financial
transactions. The company was founded by Leslie M. Muma and George D. Dalton on July
31, 1984 and is headquartered in Brookfield, WI.
Institutional investors hold a majority ownership of FISV through the 78.32% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Data Processing Services industry. Last, during the quarter ended June
2019, these large investors purchased a net $4.9 million shares.

Green Dot Corporation

Green Dot Corp. operates as a financial technology leader and bank holding company,
which engages in the provision of prepaid cards, debit cards, checking accounts, secured
credit cards, payroll debit cards, consumer cash processing services, wage disbursements,
and tax refund processing services. It operates through the following segments: Account
Services; and Processing and Settlement Services. The Account Services segment consists
of revenues and expenses derived from deposit account programs, such as prepaid cards,
debit cards, consumer and small business checking accounts, secured credit cards, payroll
debit cards and gift cards. The Processing and Settlement Services segment consists of
products and services that specialize in facilitating the movement of funds on behalf of
consumers and businesses. The company was founded by Steven W. Streit on October 1,
1999 and is headquartered in Pasadena, CA.
Institutional investors purchased a net $1.2 million shares of GDOT during the quarter
ended June 2019, and now own 92.10% of the total float, a percentage that is typical for
companies in the Finance/Rental/Leasing industry.

Global Payments Inc.

Global Payments, Inc. engages in the provision of payment technology and software
solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions
and Business & Consumer Solutions. The Merchant Solutions segment provides payments
technology and software solutions to customers globally. It also provides a variety of value-
added services, including specialty point-of-sale solutions, analytic and engagement tools,
payroll services and reporting that assist customers with driving demand. The Issuer
Solutions segment provides solutions that enable financial institutions and other financial
service providers to manage their card portfolios, reduce technical complexity and overhead
and offer a seamless experience for cardholders on a single platform. It also provides
commercial payments and e Payables solutions that support business-to-business payment
processes for businesses and governments.
The Business and Consumer Solutions segment provides general purpose reloadable
prepaid debit and payroll cards, demand deposit accounts and other financial service
solutions to the under banked and other consumers and businesses in the United States
through Netspend brand. The company was founded on January 31, 2001 and is
headquartered in Atlanta, GA.
Institutional investors hold a majority ownership of GPN through the 89.43% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Data Processing Services industry. Last, during the quarter ended June
2019, these large investors purchased a net $1.4 million shares.

Fidelity National Information Services, Inc.

Fidelity National Information Services, Inc. engages in the business of technology, solutions
and services for merchants, banks and capital markets businesses. It operates through the
following segments: Merchant, Banking, and Capital Markets. The Merchant segment is
focused on serving merchants of all sizes globally, enabling them to accept electronic
payments, including credit, debit and prepaid payments originated at a physical point of sale
as well as in card-not-present environments such as eCommerce and mobile. The Banking
segment is focused on serving all sizes of financial institutions for core processing and
ancillary applications solutions; digital solutions; fraud, risk management and compliance
solutions; electronic funds transfer and network services; payment; wealth and retirement;
item processing and output services solutions. The Capital Markets segment is focused on
serving global financial services clients with an array of buy- and sell-side solutions. The
company was founded in 1968 and is headquartered in Jacksonville, FL.
Institutional investors hold a majority ownership of FIS through the 92.87% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Data Processing Services industry. Last, during the quarter ended June
2019, these large investors purchased a net $8.5 million shares.

Ant Group (formerly known as Ant Financial and Alipay)

Ant Group Co., Ltd. develops online payment platforms. The Company produces credit
system and financial services platforms which provide consumers and small businesses
with safe and convenient inclusive financial services globally. Ant Group provides its
services worldwide.
Institutional investors bought shares at about HK$120 ($15.50) apiece in gray-market
trading for a second day Tuesday, compared with the listing price of HK$80, according to
people familiar with the transactions. They declined to be identified discussing private
matters.
Ant Updates

Adyen
Adyen N.V. provides payment solutions. The Company offers a platform that enables
merchants and businesses to process payments online, mobile, and point-of-sale systems
with payment methods including card schemes, mobile wallets, and other local methods.
Adyen serves customers worldwide.
Adyen NV has 549 institutional owners and shareholders that have filed 13D/G or 13F
forms with the Securities Exchange Commission (SEC). These institutions hold a total of
18,489,094 shares.
Stone Co. Ltd
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to
merchants and partners that conduct electronic commerce across in-store, online, and
mobile channels. It offers cloud-based technology platforms, electronic payments, and
automation of business processes at the point-of-sale. The company was founded by André
Street de Aguiar on March 11, 2014 and is headquartered in George Town, Cayman
Islands.
Institutional investors purchased a net $30.7 million shares of STNE during the quarter
ended March 2019. This may signal that the smart money is gaining interest in this
company as the 78.47% of the shares outstanding that institutional investors hold is among
the lowest in the Packaged Software industry.

LendingClub Corp
LendingClub Corp. engages in the operation of an online credit marketplace for borrowers
and investors. It offers personal, business, auto refinance, K-12 education loans and patient
solutions. The company was founded by Renaud Laplanche and Soulaiman Htite on
October 2, 2006 and is headquartered in San Francisco, CA.
Institutional investors purchased a net $1.8 million shares of LC during the quarter ended
June 2019 and now own 72.96% of the total shares outstanding. This majority interest is a
greater percentage than is typical for companies in the Finance/Rental/Leasing industry and
highlights that the smart money sees this stock as an important holding.

TSYS Payment Solutions

Merger

Global X FinTech ETF

Global X FinTech ETF, incorporated in the USA, seeks to track the performance of the
Indxx Global FinTech Thematic Index.
Global X FinTech ETF has 89 institutional owners and shareholders that have filed 13D/G
or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a
total of 6,315,642 shares.
Ping An Insurance
Ping An Insurance (Group) Company of China Limited provides products and services
through its five ecosystems in financial services, healthcare, auto services, real estate
services and Smart City solutions. The Group's insurance business writes property,
casualty, and life insurance products.
Ping An Insurance (Group) Company of China Ltd. has 21 institutional owners and
shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission
(SEC). These institutions hold a total of 3,657,387 shares.

Broadridge Financial Solutions

Broadridge Financial Solutions, Inc. provides technology-based outsourcing solutions to the
financial services industries. The Company offers a broad range of solutions that help
clients serve their retail and institutional customers across the entire investment lifecycle,
including pre-trade, trade, and post-trade processing Broadridge Financial Solutions,
Inc. has 1447 institutional owners and shareholders that have filed 13D/G or 13F forms with
the Securities Exchange Commission (SEC). These institutions hold a total of 159,242,290
shares.

Xero Ltd
Xero Ltd. engages in providing online business solutions for small businesses and their
advisors. It is a cloud-based accounting software provider. Founded by Rodney Kenneth
Drury and Hamish Edwards on July 6, 2006, Xero is headquartered in Wellington, New
Zealand.
Xero Ltd. has 129 institutional owners and shareholders that have filed 13D/G or 13F forms
with the Securities Exchange Commission (SEC). These institutions hold a total of
17,541,425 shares.

Envestnet Inc
Envestnet, Inc. engages in the provision of intelligent systems for wealth management and
financial wellness. It operates through the following segments: Envestnet Wealth Solutions
and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified
wealth management software and services to empower financial advisors and institutions.
The Envestnet Data & Analytics segment provides data aggregation and data analytics
platform powering dynamic, cloud-based innovation for digital financial services. The
company was founded by Judson Taft Bergman, James Winfield Lumberg and Brandon
Rockwell Thomas in 1999 and is headquartered in Chicago, IL.
Institutional investors purchased a net $3.7 million shares of ENV during the quarter ended
June 2019, and now own 104.38% of the total float, a percentage that is typical for
companies in the Financial Publishing/Services industry.

Mogo Inc.
Mogo, Inc. operates as a financial technology company. It provides a financial health app
that empowers consumers with simple solutions to help them manage and control their
finances. Through its app, the firm provides free credit score monitoring, identity fraud
protection, digital spending account with platinum prepaid visa card and digital mortgage
experience. Its MogoCrypto account enables users to buy and sell bitcoins, and access to
smart consumer credit products through MogoMoney. The company was founded on
January 14, 1972 and is headquartered in Vancouver, Canada.
Mogo Finance Technology Inc. has 14 institutional owners and shareholders that have filed
13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions
hold a total of 2,163,406 shares.

SS&C Technologies, Inc.

SS&C Technologies Holdings, Inc. engages in the development and provision of software
solutions to the financial services and healthcare industries. It operates through the
following geographical segments: United States; Europe, Middle East and Africa; Asia
Pacific and Japan; Canada; and the Americas, excluding the United States and Canada. Its
products include advent genesis, antares, asset allocators, AWD, axys, BANC mall, BRIX,
DST vision, evare, lightning, and moxy. The company was founded by William Charles
Stone in March 1986 and is headquartered in Windsor, CT.
Institutional investors purchased a net $5.2 million shares of SSNC during the quarter
ended June 2019, and now own 82.84% of the total float, a percentage that is typical for
companies in the Information Technology Services industry.
On Deck Capital
On Deck Capital, Inc. provides capital financing services to businesses. The Company
offers online tools and resources including data aggregation and electronic payment
technology, and to evaluate the health of small businesses. On Deck Capital serves small
and medium sized businesses in the United States.
On Deck Capital, Inc. has 143 institutional owners and shareholders that have filed 13D/G
or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a
total of 45,560,010 shares.

Qudian
Qudian Inc. is a technology platform which empowers the enhancement of online consumer
finance experience in China. It operates a platform which uses data-enabled technologies,
such as artificial intelligence and machine learning, to transform the consumer finance
experience. The company offers cash credit products that provide funds in digital form and
merchandise credit products. It generates financing income from cash credit products, and
service income and sales commission fees from merchandise credit products. Qudian was
founded by Min Luo in March 2014 and is headquartered in Xiamen, China.
Institutional investors purchased a net $1.8 million shares of QD during the quarter ended
March 2019. This may signal that the smart money is gaining interest in this company as
the 30.44% of shares outstanding that institutional investors hold is actually below the
Internet Software/Services industry average.

Earthport
Earthport plc is a regulated global financial services organization, providing a secure cross-
border payments service for banks, foreign exchange businesses, money transfer
organizations, payment aggregators and e-commerce businesses.

Temenos AG
Temenos AG is a holding company, which engages in the development, marketing, and
sale of banking software systems. It operates through the Products and Services segments.
The Product segment markets, licenses, and provides software solutions and subscription
arrangements. The company was founded by George Koukis in 1993 and is headquartered
in Geneva, Switzerland. Temenos Group AG has 10 institutional owners and shareholders
that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These
institutions hold a total of 131,103 shares.

ZhongAn Online P&C Insurance Co. Ltd. (CN:6060)

ZhongAn Online P&C Insurance Co. Ltd. engages in the provision of insurance services. It
offers property and casualty insurance products, covering accident insurance, bond
insurance, health insurance, liability insurance, credit insurance, cargo insurance, and
household property insurance. The company operates through the following segments:
Insurance, Technology and Others. ZhongAn Online P&C Insurance was founded by Ya
Ping Ou on October 9, 2013 and is headquartered in Shanghai, China.
ZhongAn Online P&C Insurance Co Ltd has 77 institutional owners and shareholders that
have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These
institutions hold a total of 33,705,234 shares.

Morningstar, Inc.
Morningstar, Inc. engages in the provision of investment research. It offers morningstar
data, morningstar direct, morningstar investment management, morningstar advisor
workstation, workplace solutions, pitchbook data, morningstar enterprise components,
morningstar research, morningstar credit ratings and morningstar indexes. The company
was founded by Joseph D. Mansueto on May 16, 1984 and is headquartered in Chicago, IL.
Institutional investors purchased a net $60.6 thousand shares of MORN during the quarter
ended June 2019. This may signal that the smart money is gaining interest in this company
as the 49.02% of shares outstanding that institutional investors hold is actually below the
Financial Publishing/Services industry average.

MarketAxess Holdings Inc.

MarketAxess Holdings, Inc. operates as an electronic trading platform that allows
investment industry professionals to trade corporate bonds and other types of fixed-income
instruments. It also provides data and analytical tools that help its clients to make trading
decisions and facilitate the trading process by electronically communicating order
information between trading counterparties. The firm's patented trading technology allows
institutional investor clients to request competitive, executable bids, or offers from multiple
broker dealers simultaneously and to execute trades with the broker dealer of their choice.
The company was founded by Richard M. Mcvey on April 11, 2000 and is headquartered in
New York, NY.
Institutional investors purchased a net $184.9 thousand shares of MKTX during the quarter
ended June 2019 and now own 93.41% of the total shares outstanding. This majority
interest is a greater percentage than is typical for companies in the Investment
Banks/Brokers industry and highlights that the smart money sees this stock as an important
holding.

Q2 Holdings, Inc.
Q2 Holdings, Inc. engages in the provision of digital banking solutions, including security,
advisory, web services, custom services and end user marketing solutions. The company
was founded by Robert H. Seale III on March 31, 2005 and is headquartered in Austin, TX.
Institutional investors purchased a net $4.0 million shares of QTWO during the quarter
ended June 2019, and now own 118.01% of the total float, a percentage that is typical for
companies in the Information Technology Services industry.

Bill.Com Holdings, Inc.

Bill.Com Holdings, Inc. provides infrastructure software. The Company offers cloud-based
applications for simplifying, digitizing, and automating back-office financial processes for
small and mid-sized businesses. Bill.Com Holdings serves customers in the State of
California.
Bill.com Holdings, Inc. has 530 institutional owners and shareholders that have filed 13D/G
or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a
total of 97,132,181 shares.

nCino Inc
nCino, Inc. provides cloud banking solutions. The Company improves employee efficiency
while enhancing the customer experience for onboarding, loans, and deposits across all
lines of business. nCino serves clients worldwide.
nCino, Inc. has 277 institutional owners and shareholders that have filed 13D/G or 13F
forms with the Securities Exchange Commission (SEC). These institutions hold a total of
36,599,651 shares.
Wirecard AG
Wirecard AG engages in the provision of software and information technology for payment
processing and issuing products in the field of outsourcing and white label industry. It
operates through the following segments: Payment Processing and Risk Management
(PP&RM); Acquiring and Issuing (A&I); and Call Center and Communication Services
(CC&CS). The PP&RM segment refers to products and services related to electronic
payment processing, risk management, and other value added services. The A&I segment
offers settlement services for credit card sales for online and terminal payments. The
CC&CS segment reports the complete value-added scope of its call center activities, with
other products. The company was founded on May 6, 1999 and is headquartered in Munich,
Germany.

Jack Henry & Associates, Inc

Jack Henry & Associates, Inc. engages in the provision of technology solutions and
payment processing services primarily for financial services organizations. It operates
through the following segments: Core, Payments, Complementary, and Corporate and
Other. The Core segment focuses on core information processing platforms to banks and
credit unions, which consist of integrated applications required to process deposit, loan, and
general ledger transactions, and maintain centralized customer or member information. The
Payments segment secures payment processing tools and services, such automated teller
machine, debit, and credit card processing services; online and mobile bill pay solutions;
and risk management products and services. The Complementary segment offers additional
software, and services that can be integrated with its core solutions or used independently.
The company was founded by Jerry D. Hall and John W. Henry in 1976 and is
headquartered in Monett, MO.
Institutional investors hold a majority ownership of JKHY through the 91.67% of the
outstanding shares that they control. This interest is also higher than almost any other
company in the Information Technology Services industry.

Future FinTech Group Inc.

Future FinTech Group Inc., through its subsidiaries, operates a real-name block chain e-
commerce platform that integrates block chain and internet technology in the People's
Republic of China. It operates through CCM Shopping Mall Membership, Sales of Goods,
and Others segments. The company offers Chain Cloud Mall (CCM), an enterprise
customer interactive and comprehensive shopping and sales service platform; NONOGIRL,
a cross-border e-commerce platform; and DCON, a block chain-based application incubator
and a digital payment system. It also engages in the development of block chain-based e-
commerce and financial technology. The company was formerly known as SkyPeople Fruit
Juice, Inc. and changed its name to Future FinTech Group Inc. in June 2017. Future
FinTech Group Inc. is headquartered in Beijing, the People's Republic of China.
Institutional investors purchased a net $53.9 thousand shares of FTFT during the quarter
ended September 2018. This may signal that the smart money is gaining interest in this
company as the 0.41% of shares outstanding that institutional investors hold is below the
Beverages: Non-Alcoholic industry average.

Peak Fintech Group

Peak Fintech Group, Inc. is an information technology portfolio management company,
which engages in assembling, financing, and managing a portfolio of companies and assets
in some of the tech sectors. It operates through the following segments: Fintech Platform,
Financial Services, and Other. The Fintech Platform segment comprises procurement and
distribution of products within a specific supply chain or facilitating transactions in the
commercial lending industry through technology platforms. The Financial Services segment
provides commercial loans to entrepreneurs and SMEs and turn-key credit outsourcing
services to banks and other lending institutions. The Other segment includes activity and
unallocated portion of the Canadian parent company's services and all non-operating
holdings registered in Hong Kong and China. The company was founded in 2004 and is
headquartered in Montreal, Canada.

Goldmoney Inc.
GoldMoney, Inc. engages in the provision of precious metal investment services. It operates
through the following segments: Goldmoney Holding, Schiff Gold, and Mene. The
Goldmoney Holding segment reflects the consolidation of the network and wealth accounts
into a unified business operation. The Schiff Gold segment engages in physical direct-to-
consumer precious metal sales business. The Mene segment crafts 24 karat gold and
platinum investment jewelry that is transparently sold direct-to-consumer by gram weight.
The company was founded by Joshua Dale Crumb, James Turk and Roy Sebag in 2014
and is headquartered in Toronto, Canada.
Goldmoney Inc. has 15 institutional shareholders that have filed 13D/G or 13F forms with
the Securities Exchange Commission (SEC). These institutions hold a total of 520,784
shares.

TruFin PLC
TransUnion engages in the provision of information and risk management solutions. It also
provides consumer reports, risk scores, analytical services and decision-making capabilities
to businesses. It operates through the following segments: U.S. Information Services
(""USIS""), International, Consumer Interactive, and Corporate. The USIS segment provides
consumer reports, risk scores, analytical services and decision-making capabilities to
businesses. The International segment provides credit reports, analytics and decision-
making services and other value-added risk management services. The Consumer
Interactive segment offers solutions that help consumers manage their personal finances
and take precautions against identity theft. The Corporate segment provides support
services to each segment, holds investments and conducts enterprise functions. The
company was founded on February 15, 2012 and is headquartered in Chicago, IL.
Institutional investors hold a majority ownership of TRU through the 99.01% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Miscellaneous Commercial Services industry. Last, during the quarter
ended June 2019, these large investors purchased a net $2.3 million shares.

Upstart Holdings Inc

Upstart Holdings, Inc. operates as a holding company. The Company, through its
subsidiaries, provides cloud-based artificial intelligence (AI) lending platform to improve
access to credit while reducing the risk and costs of lending for bank partners.
Upstart Securitization Trust 2018-1 (US:UPST) has 0 institutional owners and shareholders
that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC).
Largest shareholders include .
LexinFintech Holdings
Lexinfintech Holdings Ltd. engages in the provision of online consumer finance platforms.
Through its subsidiaries, it provides online direct sales with installment payment terms;
installment purchase loans; and personal installment loans. Its services are offered through
its online consumer finance platform, www.fenqile.com, and mobile application. The
company was founded by Wen Jie Xiao and Qian Qiao on November 22, 2013 and is
headquartered in Shenzhen, China.

Razer Inc.
Razer, Inc. is a lifestyle brand for gamers. The firm has designed and built the world's
largest gamer-focused ecosystem of hardware, software, and services. The company's
hardware includes high-performance gaming peripherals and Blade gaming laptops. It also
offers gaming mobile phones, gaming mice, mats, keyboards, headsets, broadcasters,
consoles, desktops, displays, routers, gears, apparels, and bags. Razer's software platform,
with over 80 million users, includes Razer Synapse (an Internet of Things platform), Razer
Chroma (a proprietary RGB lighting technology system), and Razer Cortex (a game
optimizer and launcher). The firm’s service, Razer Gold, is a virtual credit service for
gamers, and Razer Fintech is an offline-to-online digital payment network in Southeast Asia.
The company was founded by Robert L. Krakoff and Min Liang Tan in 2005 and is
headquartered in Irvine, CA.
Razer Inc has 0 institutional owners and shareholders.

OneConnect Financial Tech

Oneconnect Financial Technology Co., Ltd. offers technological applications for financial
institutes such as digital transformations, revenue increase, and risk management.
Oneconnect Financial Technology serves customers in China.
OneConnect Financial Technology Co Ltd has 106 institutional owners and shareholders
that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These
institutions hold a total of 93,334,007 shares.

Goldman Sachs Group Inc

Goldman Sachs Group, Inc. engages in global investment banking, securities, and
investment management, which provides financial services. It operates through the
following business segments: Investment Banking, Global Markets, Asset Management,
and Consumer & Wealth Management. The Investment Banking segment serves public and
private sector clients around the world and provides financial advisory services, help
companies raise capital to strengthen and grow their businesses and provide financing to
corporate clients. The Global Markets segment serves its clients who buy and sell financial
products, funding and managing risk. The Asset Management segment provides investment
services to help clients preserve and grow their financial assets. The Consumer & Wealth
Management segment helps clients to achieve their individual financial goals by providing
wealth advisory and banking services. The company was founded by Marcus Goldman in
1869 and is headquartered in New York, NY.
Institutional investors hold a majority ownership of GS through the 70.70% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Investment Banks/Brokers industry. Last, during the quarter ended June
2019, these large investors purchased a net $744.9 thousand shares.

Amazon.com Inc.
Amazon.com, Inc. engages in the provision of online retail shopping services. It operates
through the following business segments: North America, International, and Amazon Web
Services (AWS). The North America segment includes retail sales of consumer products
and subscriptions through North America-focused websites such as www.amazon.com and
www.amazon.ca. The International segment offers retail sales of consumer products and
subscriptions through internationally focused websites. The Amazon Web Services segment
involves in the global sales of compute, storage, database, and AWS service offerings for
start-ups, enterprises, government agencies, and academic institutions. The company was
founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.
Institutional investors hold a majority ownership of AMZN through the 58.28% of the
outstanding shares that they control. This interest is also higher than at almost any other
company in the Internet Retail industry.
UP Fintech Holding
UP Fintech Holding Ltd. operates as a brokerage firm, which focuses on global Chinese
investors. The company was founded by Tianhua Wu in 2014 and is headquartered in
Chaoyang District, China.
Institutional investors purchased a net $4.3 million shares of TIGR during the quarter ended
March 2019, and now own 4.37% of the total float, a percentage that is typical for
companies in the Investment Banks/Brokers industry.

Lufax Holding
Lufax Holding Ltd operates technology-empowered personal financial services platform.
The Company connects financial institutions to facilitate lending and wealth management
products tailored to individual customer's needs and risk appetites.

Futu Holdings
Futu Holdings Ltd. is a technology company, which engages in online brokerage services
and margin financing services for clients in Hong Kong and China. It provides investing
services through its proprietary digital platform, Futu NiuNiu, an integrated application
accessible through any mobile device, tablet or desktop. The company's primary fee-
generating services include trade execution and margin financing which allow its clients to
trade securities, such as stocks, warrants, options and ETFs, across different markets. Futu
Holdings was founded by Leaf Hua Li on December 18, 2007 and is headquartered in Hong
Kong.
Futu Holdings Limited has 91 institutional owners and shareholders that have filed 13D/G or
13F forms with the Securities Exchange Commission (SEC). These institutions hold a total
of 18,470,382 shares.

JD.com, Inc.
JD.com, Inc. is a technology driven E-commerce company. It engages in the sale of
electronics products and general merchandise products, including audio, video products,
and books. The company operates through the following business segments: JD Mall, and
New Businesses. The JD Mall segment represents its core e-commerce business. The New
Businesses segment includes logistic services provided to third parties, technology
services, overseas business, insurance and O2O. It also provides an online marketplace,
whereby third-party sellers sell products to customers primarily through its websites and
mobile apps. The company offers advertising, logistics and other value-added services. JD
com was founded on June 18, 1998 by Qiang Dong Liu and is headquartered in Beijing,
China.
Institutional investors control 45.38% of the outstanding shares in JD. This represents a
greater percentage of ownership than at almost any other company in the Internet Retail
industry. Additionally, during the quarter ended March 2019, these large investors
purchased a net $41.2 million shares.

Euronet Worldwide
Euronet Worldwide, Inc. engages in the provision of electronic payment and transaction
processing solutions for financial institutions, retailers, service providers, and individual
consumers. It operates through the following segments: Electronic Fund Transfer (EFT)
Processing; Epay; Money Transfer; and Corporate Services, Eliminations, and Other. The
EFT Processing segment focuses on the electronic payment solutions consisting of
automated teller machine (ATM) cash withdrawal and deposit services, ATM network
participation, outsourced ATM and point-of-sale (POS) management solutions, credit and
debit card outsourcing, and card issuing and merchant acquiring services. The Epay
segment offers prepaid mobile airtime and other electronic content and payment processing
services for various prepaid products, cards, and services throughout its worldwide
distribution network. The Money Transfer segment refers to money transfer services,
primarily under the brand names Ria, AFEX Money Express, and IME, and global account-
to-account money transfer services under the brand names HiFX and xe. The company was
founded by Daniel R. Henry and Michael J. Brown in 1994 and is headquartered in
Leawood, KS.
Institutional investors purchased a net $668.0 thousand shares of EEFT during the quarter
ended June 2019, and now own 95.45% of the total float, a percentage that is typical for
companies in the Data Processing Services industry.

Axos Financial
Axos Financial, Inc. operates as a holding company for BofI Federal Bank. The Bank
provides financing for single and multifamily residential properties, small-to-medium size
businesses, and specialty finance receivables. Axos Financial serves customers in the
United States.
Axos Financial, Inc. (US:AX) has 486 institutional owners and shareholders that have filed
13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions
hold a total of 655,964,187 shares.

CIIG Merger
CIIG Merger Corp. operates as a blank check company. The Company aims to acquire one
and more businesses and assets, via a merger, capital stock exchange, asset acquisition,
stock purchase, and reorganization. CIIG Merger serves customers in the State of New
York.
China Infrastructure Investment Corp has 67 institutional owners and shareholders that
have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These
institutions hold a total of 10,051,808 shares.

Affirm
Affirm is an American financial technology company based in San Francisco founded by
PayPal founder Max Levchin. Affirm lets users take out microloans at the point of sale with
participating vendors and aims to provide a quick, transparent, and more inclusive lending
alternative to credit cards.

Lemonade
Lemonade, Inc. operates as an insurance company. The Company offers artificial
intelligence (AI) based technology for fire, property, liability, and other related insurance
policy issuing and claim settlements. Lemonade serves customers in the United States.

Rocket Companies INC.

Description. Rocket Companies is a Detroit-based holding company consisting of personal
finance and consumer service brands including Rocket Mortgage, Rocket Homes, Rocket
Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections,
Lendesk and Edison Financial.
Section II: Financial Data

Symbol Last Dividend Revenue Operating Interest IE/OI Net Income Cash Flow
Income Expense EPS
AAPL $143.16 $0.82 $215,640,000,000 $66,288,000.00 $0.00 $57,411,000.00 $3.31 $73,365,000,000
ADYEN $1,763.50 $3,070,000
-
AFRM $110.08 -$328,316.00 $5,738.00 $0.02 -$114,533.00 -$92,321,000
AMZN $3,326.13 $14,541,000.00 $1,600,000.00 $0.11 $11,588,000.00 $23.46 $21,653,000
AXO $25.64
BILL $119.53 -$34,198.00 $0.00 -$31,091.00 -$0.70 -$16,506,000
BR $151.79 $2.30 $4,529,000 $624,900.00 $58,800.00 $0.09 $462,500.00 $4.03 $499,500,000
CIIC $27.80 -$92,000.00 $0.00 $0.00 $31,000.00 $0.00 -$1
EPO ACQUIRED BY VISA
EEFT $131.63 $2,750,110 $475,194,000.00 $36,237,000.00 $0.08 $346,749,000.00 $6.49 $373,201,000
-
ENV $83.14 $900,130,000 -$16,073.00 $32,520.00 $2.02 -$16,782.00 -$0.33 $54,783,000
FINX $46.70 $0.05
FIS $128.16 $1.40 $12,580,000 $969,000.00 $389,000.00 $0.40 $298,000.00 $0.67 $1,510,000
FISV $106.21 $10,187,000,000 $1,609,000.00 $473,000.00 $0.29 $893,000.00 $1.74 $2,074,000,000
-
FTFT $5.03 $960,000 -$12,936,000.00 $524,000.00 $0.04 -$25,229,000.00 -$0.79 -$15,845,000
FUTU $103.20 $871,770,000 $0.18
GDOT $51.16 $1,220,000,000 $122,918,000.00 $1,837.00 $0.00 $99,897.00 $1.91 $111,700,000
GPN $186.34 $0.78 $7,481,000 $791,417.00 $304,905.00 $0.39 $430,613.00 $2.17 $1,083,410,000
GS $281.76 $5.00 $40,419,000 $10,583,000.00 $0.00 $8,466,000.00 $21.18 $15,425,000
JD $96.97 $602,012,634 $645,597,000.00 $43,861,000.00 $0.07 $1,113,518.00 $0.72 $2,422,102,000
JKHY $154.87 $1.72 $1,697,070 $380,627,000.00 $688,000.00 $0.00 $296,668,000.00 $3.86 $339,732,000
LC $11.31 $16.55 $655,200,000 -$179,938.00 -$321,312,000
LMND $153.38 $97,300,000 $0.00 -$121,100.00 $0.00 -$92,100
LU $16.60 $42,607,141 N/A $0.00 N/A $8,220,528
LX $7.70 $11,760,155 $377,386,000.00 $5,633,000.00 $0.01 $329,592,000.00 $1.85 -$828,369
MKTX $509.81 $2.40 $647,553 $250,882.00 $0.00 $204,902.00 $5.53 $219,710
-
MOGO $4.03 $49,261 -$2,754.00 $14,912.00 $5.41 -$8,158.00 -$0.32 $36,779
MORN $233.78 $1.26 $1,179,000 $189,600.00 $15,700.00 $0.08 $152,000.00 $3.56 $289,400
NCNO $74.40 $169,843 -$8,788.00 $0.00 -$27,594,000.00 -$0.10 $6,129
- -
OCFT $21.72 $2,327,846 -$246,136,000.00 $25,298,000.00 $0.10 $240,280,000.00 -$0.77 -$2,131,914
ONDK
Ping An
Insurance
PKK $3.00 $30,687 $188.78 $1,111.00 -$3,051.00 -$548

PYPL $241.00 $20,300,000,000 $2,719,000.00 $0.00 $2.09

QD $2.15 $8,840,040 $552,839,000.00 $0.00 $468,886.00 $1.68 $779,540,000
-
QTWO $139.32 -$66,746.00 $20,290.00 $0.30 -$70,877.00 -$1.53 -$13,470,000
RKT $22.70

RZZRY $7.13
SQ $209.17 $4,713,000,000 $26,557,000.00 $21,516.00 $0.00 $375,446.00 $0.88 $403,201,000
SSNC $66.15 $0.56 $4,668,000 $914,400.00 $409,600.00 $0.45 $438,500.00 $1.73 $1,197,900,000
STNE $73.40 $2,663,383 $366,142.00 $89,565.00 $0.24 $203,5 $0.73 -$756,487,000
TEMN $114.90
TIGR $17.22 $58,660,000 $1,271,806.00 $4,102,000.00 -$7,000,000.00 $0.00 $241,992,000
TRU $91.14 $0.30 $2,703,500 $577,700.00 $138,600.00 $324,300.00 $0.00 $556,400
TSYS Merged with Global Payments
UPST $64.45 $213,881 $11,007.00 -$50,523
WCAGY $0.30 $2,537,400 $517,869.00 $57,869.00 $0.11 $410,280,000.00 $1.66
XAUMF $2.42 $334,470 -$7,940.00 $44.59 $27,761.00 -$0.02 $6,758
XRO $140.85 $765,554 $79,758.00 $29,440.00 $33,942.00 -$0.19 $92,603
ZZHGF $4.80 $16,742,463 -$58,146.00 $1,340,998
Section III: Performance Data
52W Low 52W High
Symbol Name Last Exchange Volume 52W Low 52W High 1Y Return 3Y Return 5Y Return
Date Date

PYPL Paypal 241.00 NASDAQ 6,767,700 $82.07 03/23/20 $130.64 01/08/20 116.83% 201.04% 650.42%
SQ Square, Inc. 209.17 NYSE 9,102,000 $32.33 03/18/20 $246.49 01/08/21 257.17% 485.33% 2251.02%
AAPL Apple Inc. 143.16 NASDAQ 105,158,195 $53.15 03/23/20 $138.79 12/29 74.21% 198.27% 443.81%
FISV Fiserv, Inc. 106.21 NASDAQ 3,859,800 $73.50 03/19/20 $125.05 02/04/20 -0.01% 70.22% 167.44%
Green Dot
GDOT Corporation 51.16 NYSE 549,000 $14.20 03/18/20 $64.97 10/13/20 150.46% -3.25% 275.61%
Global Payments
GPN Inc. 186.34 NYSE 1,533,400 $105.54 03/23/20 $215.70 12/31/20 9.24% 99.81% 261.33%
Fidelity National
Information
FIS Services, Inc. 128.16 NYSE 6,412,400 $91.68 03/18/20 $158.21 02/14/20 -1.11% 42.06% 137.19%
Euronext
ADYEN Adyen 1774.00 NL 7,147 $664.40 03/18/20 $1,979.50 12/28/20
STNE Stone Co. Ltd 73.40 NASDAQ 1,596,300 $17.72 04/03/20 $87.23 12/23/20 91.28% 0 0
LC LendingClub Corp 11.31 NYSE 1,789,800 $4.32 06/26/20 $13.67 02/19/20 -5.20% -47.03% -70.74%
Total System
TSYS Services, Inc.
Global X FinTech
FINX ETF 46.70 NASDAQ 232,300 $19.65 03/23/20 $47.52 12/23/20 51.99% 99.19% 0.00%
PIAIF Ping An Insurance 12.58 OTC US 4,800 $8.78 03/18/20 $13.04 01/17/20 3.53% 12.47% 121.71%
Broadridge Financial
BR Solutions 151.79 NYSE 578,400 $81.90 03/23/2020 $158.36 01/07/21 24.61% 66.11% 209.88%
ASX /
XROLF Xero Ltd 105.50 OTC US 1,400 $34.05 03/23/20 $118.84 01/05/2002 99.89% 380.60% 739.52%
ENV Envestnet Inc 83.14 NYSE 1,463,100 $45.53 04/03/20 $92.51 08/07/20 17.32% 58.85% 258.69%
MOGO Mogo Inc. 4.03 NASDAQ 1,473,600 $0.55 03/23/20 $5.22 01/08/21 75.27% 0.00% 0.00%
SS&C Technologies,
SSNC Inc. 66.15 NASDAQ 1,186,000 $29.51 03/18/20 $74.00 12/08/20 15.78% 45.24% 133.09%
ONDK On Deck Capital NYSE
QD Qudian 2.15 NYSE 17,882,600 $1.17 12/24/20 $4.59 01/14/20 -63.18% -86.50% 0.00%
EPO Earthport
SWX /
TMSNY Temenos AG 131.18 OTC US 9,700 $97.50 03/23/20 $172.46 07/15/20 -10.21% 7.09% 0.00%
ZhongAn Online
P&C Insurance Co. HKG /
ZZHGF Ltd. 4.80 OTC US 300 -5.02% 0.00% 0.00%
MORN Morningstar, Inc. 233.78 NASDAQ 150,000 $102.59 03/23/20 $244.02 01/08/21 52.53% 139.39% 202.60%
MarketAxess
MKTX Holdings Inc. 509.81 NASDAQ 174,700 $275.49 03/23/20 $606.45 11/09/20 51.55% 171.00% 442.49%
QTWO Q2 Holdings, Inc. 139.32 NYSE 279,700 $47.17 03/17/20 $130.59 12/23/20 50.07% 233.17% 452.12%
Bill.Com Holdings,
BILL Inc. 119.53 NYSE 1,662,300 $23.61 03/18/20 $154.03 12/22/20 266.53% 0.00% 0.00%
NCNO nCino Inc 74.40 NASDAQ 980,800 -20.23% 0.00% 0.00%
ETR /
WCAGY Wirecard AG 0.30 OTC US 616,000 $0.17 12/30/20 $78.65 02/12/20 -99.60% -99.61% 0.00%
Jack Henry &
JKHY Associates, Inc. 154.87 NASDAQ 483,800 $123.64 03/23/20 $200.98 08/18/20 13.80% 35.31% 124.00%
Future FinTech
FTFT Group Inc. 5.03 NASDAQ 144,072,797 $0.51 01/09/20 $11.29 01/08/21 1311.11% 80.14% 64.22%
PKK.CN Peak Fintech Group CNSX 830,375 $0.17 07/30/20 $2.04 11/27/20 345.00% 173.85% 154.29%
TSE / OTC
XAUMF Goldmoney Inc. 2.42 US 199,600 $0.71 03/16/20 $2.67 01/07/2002 49.46% -53.87% 1.49%
TRU,LN TruFin PLC LON 18,983 $15.00 05/13/20 $89.85 12/11/20
UPST Upstart Holdings Inc 64.45 NASDAQ 1,407,700 78.93% 0.00% 0.00%
LexinFintech
LX Holdings 7.70 NASDAQ 1,577,300 $6.04 09/29/20 $16.93 01/22/20 -53.36% -49.60% 0.00%
RZZRY Razer Inc. 7.13 OTC 4,747 $2.21 03/31/20 $7.25 12/03/20 78.76% 0.00% 0.00%
 OneConnect
OCFT Financial Tech 21.72 NYSE 508,900 $9.02 04/15/20 $28.80 07/10/20 78.03% 0.00% 0.00%
Goldman Sachs
GS Group Inc 281.76 NYSE 2,800,700 $130.85 03/19/20 $295.89 01/07/21 22.01% 12.86% 86.41%
AMZN Amazon.com Inc. 3326.13 NASDAQ 3,537,700 $1,626.03 03/16/20 $3,552.25 09/02/20 68.22% 143.85% 458.19%
TIGR UP Fintech Holding 17.22 NASDAQ 9,340,899 $2.03 03/16/20 $10.98 01/08/21 218.05% 0.00% 0.00%
FUTU Futu Holdings 103.20 NASDAQ 6,589,700 $8.16 03/23/20 $66.72 01/08/21 515.74% 0.00% 0.00%
JD JD.com, Inc. 96.97 NASDAQ 13,007,300 $32.70 03/16/20 $96.20 01/05/21 139.01% 97.28% 239.16%
LU Lufax Holding 16.60 NYSE 3,809,000 11.44% 0.00% 0.00%
EEFT Euronet Worldwide 131.63 NASDAQ 214,500 $61.27 03/18/20 $167.64 01/23/20 -6.68% 55.32% 102.07%
AXO Axos Financial 25.64 NYSE 4,100 $14.28 03/18/20 $27.06 09/29/20 -2.62% -0.46% 0.00%
CIIC CIIG Merger 27.80 NASDAQ 14,890 176.28% 0.00% 0.00%
AFRM Affirm 110.08 NASDAQ 1,287,386 $90.01 01/13/21 $137.98 01/14/21 13.20% 0.00% 0.00%
LMND Lemonade 153.38 NYSE 3,545,500 $44.11 09/04/20 $188.30 1/12/21 120.98% 0.00% 0.00%

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