Investor Takes $14 Million Position in WEX as Fintech Firm Generates Record $2.7 Billion in Revenue

Clifford Capital Partners initiated a new position in WEX (WEX +1.12%) during the fourth quarter, acquiring 95,326 shares worth $14.20 million, according to a recently released SEC filing.

What happened

According to a February 17, 2026, SEC filing, Clifford Capital disclosed a new position in WEX, purchasing 95,326 shares during the fourth quarter. The stake’s quarter-end value stood at $14.20 million as a result of the new holding.

What else to know

• Top five holdings after the filing:
  • NASDAQ: HSIC: $27.97 million (4.8% of AUM)
  • NYSE: SOLV: $24.46 million (4.2% of AUM)
  • NYSE: RKT: $24.33 million (4.1% of AUM)
  • NYSE: HNI: $24.13 million (4.1% of AUM)
  • NYSE: NATL: $23.69 million (4.0% of AUM)
• As of February 17, 2026, shares of WEX were priced at $153.88, roughly flat for the year despite a 20% gain in the S&P 500 over the same period.

Company overview

Company snapshot

• WEX offers fleet payment processing, virtual card-based travel and corporate payment solutions, and healthcare payment platforms.
• The firm generates revenue primarily through transaction fees, software-as-a-service subscriptions, and value-added analytics for expense management.
• It serves commercial and government vehicle fleets, corporate travel and accounts payable departments, and healthcare benefit administrators.

WEX operates as a diversified financial technology provider, delivering payment processing and software solutions across fleet, travel, and health sectors. The company leverages a scalable platform to address complex payment needs, driving recurring revenue through integrated service offerings. Its broad client base and specialized sector focus position WEX for continued relevance in the evolving fintech landscape.

What this transaction means for investors

Companies that quietly sit in the middle of everyday financial transactions often build powerful long-term businesses, and there are reasons an investor might consider WEX as one of those operators. The firm’s stock has suffered in recent years, but under the hood, there are reasons to be bullish.

The business reported a record $2.66 billion in revenue for 2025 while generating about $304.1 million in net income, down just a bit from $309.6 million the year prior but up 51% on a per-share basis. Growth was driven by strength across the benefits and corporate payments segment, along with a net $3.3 million favorable impact from fuel prices and spreads, and another $4.2 million from favorable foreign exchange rates.

Within the broader portfolio, the position fits alongside holdings tied to financial infrastructure and consumer spending flows, including names like Rocket Companies. A common thread is exposure to platforms that facilitate transactions rather than take direct credit risk, and that might also be part of the appeal with WEX.