Provident Dumps 490,000 MapleBear Shares Worth $18 Million
Key Points
Exited 489,560 shares in Maplebear; estimated transaction value of approximately $18.00 million based on quarterly average price.
Quarter-end position value decreased by approximately $18.00 million, reflecting both trading activity and stock price movement.
The position was previously 1.6% of the fund’s AUM as of the prior quarter.
Post-trade stake: zero shares, valued at $0.
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On February 4, 2026, Provident Investment Management, Inc. sold out its entire stake in Maplebear (NASDAQ:CART).
What happened
According to a recent SEC filing dated February 4, 2026, Provident Investment Management, Inc. liquidated its holdings in Maplebear, selling 489,560 shares. The estimated transaction value is approximately $18.00 million, based on the average share price during the quarter. The fund reported no remaining shares in the company at quarter end, with the position’s value dropping by approximately $18.00 million, a figure inclusive of stock price changes over the period.
What else to know
- This was a complete exit; Maplebear now represents n/a of 13F AUM
- Top holdings after the filing:
- NYSE:V: $85.22 million (7.8% of AUM)
- NASDAQ:MSFT: $75.66 million (6.9% of AUM)
- NASDAQ:GOOGL: $72.78 million (6.6% of AUM)
- NASDAQ:VRTX: $67.67 million (6.2% of AUM)
- NASDAQ:BKNG: $55.86 million (5.1% of AUM)
- As of February 3, 2026, shares of Maplebear were priced at $36.08, down 25.0% over the past year, lagging the S&P 500 by 40.4 percentage points
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.63 billion |
| Net income (TTM) | $514.00 million |
| Price (as of market close February 3, 2026) | $36.08 |
| One-year price change | (25.0%) |
Company snapshot
- Offers online grocery shopping and delivery services, including food, alcohol, consumer health, pet care, and ready-made meals.
- Operates a platform-based business model connecting consumers with personal shoppers via a mobile app or website.
- Targets households in North America seeking convenient, on-demand access to a wide range of retail products.
Maplebear, operating as Instacart, provides online grocery delivery services in North America. The company leverages a technology-driven platform to connect consumers with personal shoppers.
What this transaction means for investors
Provident Investment Management has exited its position in Instacart parent MapleBear amid extensive industry holdings and the company’s competitive struggles.
Its business model seemed innovative in past years. However, whatever competitive advantage it might have had, the consumer staples stock looks less appealing as competition from the likes of Amazon, Kroger, and Uber seems to have dampened its appeal.
Due to that competition, its revenue growth rate has slowed from 19% in 2023 to 11% in 2024. Conditions have not seemed to have improved as revenue growth slowed to 10% in the first three quarters of 2025.
Admittedly, not all signs appeared discouraging. It grew its net income by 18% over the trailing twelve months. Moreover, it trades at a P/E ratio of 20 and its forward P/E is around 9. That might be a level where bargain hunters take an interest in the stock.
Nonetheless, investors should also consider that it holds positions in Kroger, Uber, and DoorDash. One can argue that those are more suitable choices for investing in the delivery industry, making the decision to sell more understandable.
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Will Healy has positions in Uber Technologies. The Motley Fool has positions in and recommends Alphabet, Amazon, Booking Holdings, DoorDash, Microsoft, Uber Technologies, Vertex Pharmaceuticals, and Visa. The Motley Fool recommends Instacart and Kroger. The Motley Fool has a disclosure policy.
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