One observes, with a certain detached amusement, the ebb and flow of capital. Promethos Capital, a fund no doubt staffed by individuals who consider themselves rather clever, has recently divested itself of its entire holding in Sprouts Farmers Market. Thirty-four thousand, nine hundred and thirty-five shares, to be precise. A sum of approximately $3.8 million, which, in the grand scheme of things, is scarcely enough to inconvenience a moderately successful hedge fund manager. Though, one imagines, it might cover the Bollinger for a particularly extravagant Christmas party.
The fund’s rationale remains, predictably, undisclosed. One assumes it involves a complex algorithm and a great deal of earnest hand-wringing. Or perhaps simply a desire to be seen moving with the prevailing winds. As for Sprouts, the company now represents precisely zero percent of Promethos’s Assets Under Management. A rather conclusive severance, wouldn’t you agree?
Their current affections, if one may call them that, lie with Taiwanese Semiconductors, Novartis, and a rather dreary collection of European finance houses. Solid, dependable entities, no doubt. But lacking, shall we say, the faintly bohemian charm of a purveyor of organic kale.
The top holdings are listed below, for those who enjoy such things:
- Taiwan Semiconductor Manufacturing: $36.10 million (10.1% of AUM)
- Novartis: $28.55 million (8.0% of AUM)
- SAP: $24.66 million (6.9% of AUM)
- Manulife Financial: $18.61 million (5.2% of AUM)
- HSBC Holdings: $15.69 million (4.4% of AUM)
Sprouts itself, one notes, is currently trading at $68.96. A decline of 60.9% over the past year. A performance that, while disappointing, is hardly unique in these turbulent times. The S&P 500, after all, is rarely a beacon of stability. Still, it’s a rather ignominious retreat for a company that once promised to revolutionize the grocery trade.
A brief overview, for the uninitiated:
| Metric | Value |
|---|---|
| Revenue (TTM) | $8.65 billion |
| Net income (TTM) | $513.45 million |
| Market capitalization | $6.71 billion |
| Price (as of market close February 13, 2026) | $68.96 |
Sprouts, for those unfamiliar, offers a selection of produce, meats, and other comestibles, all carefully curated to appeal to the discerning health-conscious consumer. They operate a network of stores, and, one gathers, they sell things. A surprisingly effective business model, when executed correctly.
Promethos, it appears, initially acquired Sprouts at around $48 per share. They added to their position, then, with characteristic impulsiveness, sold half their holdings when the price doubled. A rather astute maneuver, one might concede. But the subsequent decline, and their eventual complete exit, suggests a certain lack of conviction. Or perhaps simply a desire to lock in a profit, however modest.
One is left to wonder if they’ve missed an opportunity. The company, despite its recent misfortunes, still possesses a certain appeal. Trading at just 13 times earnings and 15 times free cash flow, it seems almost… undervalued. And their plans to expand into nine new states suggest a degree of ambition. They believe they can reach 1,400 locations. A rather optimistic projection, but one cannot fault them for dreaming.
Their focus on “attribute-driven” products – organic, kosher, gluten-free, vegan – is also a clever touch. It allows them to differentiate themselves from the faceless giants of the grocery industry. And their constant introduction of new products – 7,100 in 2024, to be precise – suggests a degree of innovation. A refreshing change, in a world increasingly dominated by mediocrity.
One suspects, however, that Promethos’s decision was driven more by expediency than by any deep-seated conviction. They are, after all, merely custodians of other people’s money. And the safest course, as always, is to follow the herd. Still, one cannot help but wonder if they have missed a rather good opportunity. Perhaps, in a few months’ time, they will be forced to reconsider. One can only hope, for their sake, that the price has not risen too much by then.
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2026-02-16 20:45