Chime’s Gamble & Patient Capital’s Interest

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Chime’s Gamble & Patient Capital’s Interest

Chime Financial Graphic

It appears Patient Capital Management, LLC – a fund whose name suggests a certain… fortitude, and a liking for things that eventually pay out – has taken a substantial liking to Chime Financial. A liking measured in some 2,035,112 shares, purchased during the last quarter. That’s a significant commitment, roughly equivalent to a dwarf investing in a particularly promising patch of mushrooms. A sum of $51.22 million, they say. Money, of course, being merely a symbolic representation of future promises. And Chime, well, Chime is promising a lot.

The Curious Case of Fee-Free Banking

Chime, you see, is one of those ‘disruptive’ fintechs. A polite term for ‘doing things differently.’ In this case, by offering banking services without the usual fees. Now, banks don’t generally like giving things away. It rather undermines the whole point of being a bank. So, Chime operates on the principle of attracting a vast number of customers, then subtly extracting value from their transactions. It’s a bit like a particularly clever spider, really. They call it “interchange fees”. We call it “the engine of modern commerce”.

This strategy targets those earning under $100,000 a year. A demographic that, historically, has been… let’s say, under-appreciated by the established financial institutions. It’s a noble pursuit, in a way. Though, one suspects, nobility and profit are rarely entirely strangers.1

Patient Capital’s Portfolio: A Peek Behind the Curtain

Patient Capital’s move is interesting, not just for the size of the investment, but for what it says about their overall strategy. As of December 31st, 2025, this Chime stake represents a modest 1.98% of their reportable assets under management. A rounding error for some funds, a calculated risk for others. Here’s a glimpse of their top holdings, for those who enjoy a bit of financial archaeology:

  • NASDAQ: GOOGL: $182.05 million (7.0% of AUM)
  • NYSE: C: $150.74 million (5.8% of AUM)
  • NASDAQ: AMZN: $129.85 million (5.0% of AUM)
  • NASDAQ: RPRX: $128.81 million (5.0% of AUM)
  • NYSE: QXO: $124.78 million (4.8% of AUM)

They also recently added 259,161 shares of Fiserv (FISV), a rather more… established player in the payments processing game. A bit like adding a sturdy oak tree to a garden of rapidly-growing vines. Sensible, perhaps, but lacking a certain… flair.

The Numbers, As They Are

As of February 13th, 2026, Chime’s shares were trading at $19.69. The market capitalization? A respectable $7.38 billion. Revenue for the trailing twelve months clocked in at $1.67 billion. However, and this is where things get interesting, net income was… a loss of $25.34 million. A situation not entirely uncommon for companies attempting to redefine the very nature of money.2

Here’s a handy table for the numerically inclined:

Metric Value
Price (as of market close February 13, 2026) $19.69
Market capitalization $7.38 billion
Revenue (TTM) $1.67 billion
Net income (TTM) ($25.34 million)

The Dividend Hunter’s Perspective

Now, as a hunter of dividends, I confess to a certain… skepticism towards companies that prioritize growth over immediate profit. It’s like chasing a rainbow – beautiful, certainly, but unlikely to fill your purse. However, Chime is attracting a lot of customers. 9.1 million active members, to be precise. And they’re growing at a rate of 21% per year. That’s a lot of potential future income. Assuming, of course, they can figure out how to turn that growth into actual, tangible profit.

They’re currently spending a lot of money doing so. Technology and development expenses soared to $823 million in the first nine months of 2025, up from $230 million the previous year. An operating loss of $986 million. A situation that suggests they’re either building the future of finance, or digging a very large hole.3

For the risk-averse investor, a period of observation is advised. Let’s see if Chime can turn this impressive growth into sustainable profitability before committing any serious capital. After all, a bird in the hand is worth two in the digital wallet.

1

Some say nobility and profit are like oil and water. Others say they’re simply different shades of the same shimmering substance. It all depends on your perspective, and the size of your purse.

2

It’s a well-known fact that attempting to disrupt established industries requires a significant amount of capital, and a healthy dose of delusion.

3

One might argue that all growth is, in a sense, digging a hole. It’s simply a matter of whether the hole leads to treasure, or just more hole.

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2026-02-14 22:52