Fund Slashes Chime Stake by Nearly $10 Million as Shares Sit 27% Below IPO Price

On February 13, 2026, Singapore-based Napean Trading & Investment reported selling 449,981 shares of Chime Financial (NASDAQ:CHYM), an estimated $9.56 million trade based on quarterly average pricing.

What happened

According to an SEC filing dated February 13, 2026, Napean Trading & Investment reduced its position in Chime Financial by 449,981 shares. The estimated value of the sale was approximately $9.56 million, based on the average unadjusted closing price during the fourth quarter of 2025. The fund’s quarter-end stake was 11,878 shares, valued at $298,969.

What else to know

• Following the sale, Chime Financial accounts for 0.06% of the fund’s 13F reportable assets under management.
• Top holdings after the filing:
  • NASDAQ: HOOD: $118.73 million (23.1% of AUM)
  • NASDAQ: NAVN: $100.33 million (19.5% of AUM)
  • NASDAQ: AVGO: $21.08 million (4.1% of AUM)
  • NASDAQ: BLLN: $19.10 million (3.7% of AUM)
  • NASDAQ: LRCX: $18.07 million (3.5% of AUM)
• As of February 13, 2026, shares of Chime Financial were priced at $19.69, down about 27% from their $27 offering price in June.
• The position was previously 1.8% of the fund's AUM as of the prior quarter.

Company overview

Company snapshot

• Chime Financial offers mobile-first, fee-free banking services including checking, savings, early paycheck access, and overdraft protection.
• The company generates revenue primarily through interchange fees from debit card transactions, leveraging partnerships with FDIC-insured banks.
• It targets consumers earning under $100,000 annually, focusing on underserved retail banking customers in the United States.

Chime Financial, Inc. operates at scale as a leading U.S. fintech platform, serving over a thousand employees and a broad base of retail banking customers. The company differentiates itself by providing no-fee, accessible digital banking products and leveraging technology to streamline customer experience. Its strategy centers on expanding financial access for lower and middle-income consumers, positioning Chime as a disruptor among regional banks and traditional financial institutions.

What this transaction means for investors

Conviction is often clearest when capital is reallocated, and reducing a once meaningful 1.8% position to just 0.06% of assets shows a portfolio tilting focus toward higher concentration ideas like Robinhood and Navan, with fintech exposure becoming more selective.

Operationally, Chime is hardly stagnant. Third quarter revenue rose 29% year over year to $543.5 million, with gross margin holding at 87% and active members up 21% to 9.1 million. Purchase volume climbed 15% to $32.3 billion, and adjusted EBITDA turned positive at $28.8 million. Yet the firm’s net loss remained $54.7 million for the quarter (worse than a loss of $22 million last year), underscoring that scale has not fully translated to GAAP profitability.

Shares now trade around $19.69, roughly 27% below the $27 IPO price. For long-term investors, the story is less about quarterly trims and more about unit economics. Revenue growth and improving margins are real, but sustained profitability and disciplined expense control will determine whether this fintech earns back conviction capital over time.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lam Research. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.