Provident Investment Management, Inc. unloaded its entire stake in MapleBear (CART +1.47%) on February 4, 2026. Four hundred eighty-nine thousand, five hundred sixty shares. A substantial number, really. So it goes.
A Transaction, and a History
The filing with the SEC tells us this much: they sold. Eighteen million dollars, give or take. Money changing hands. It always does. But looking back, MapleBear, or Instacart as some remember it, represented a brief, bright flicker in the ongoing saga of getting groceries to people. A logistical puzzle solved, momentarily, with apps and personal shoppers. We thought, for a time, that this was the future. The future, of course, has other plans.
What Remains
- The exit is complete. MapleBear now occupies zero percent of Provident’s 13F AUM. A clean break.
- Their top holdings, after this little shedding of assets: NYSE:V ($85.22 million, 7.8% AUM), NASDAQ:MSFT ($75.66 million, 6.9% AUM), NASDAQ:GOOGL ($72.78 million, 6.6% AUM), NASDAQ:VRTX ($67.67 million, 6.2% AUM), and NASDAQ:BKNG ($55.86 million, 5.1% AUM). Solid, dependable choices. The usual suspects.
- As of February 3, 2026, MapleBear shares were trading at $36.08, down 25% year-over-year. Lagging the S&P 500 by a rather depressing 40.4 percentage points. Numbers, just numbers. But they tell a story, don’t they?
The Facts, Briefly
| 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%) |
A Snapshot of Convenience
- Online grocery shopping and delivery. Food, booze, pet supplies. The necessities.
- A platform connecting shoppers with… well, shoppers. A middleman, elegantly disguised as innovation.
- Targeting North American households. Because everyone needs groceries, eventually.
MapleBear, in its essence, was about getting things delivered. A simple proposition. But simplicity, as any historian will tell you, is often the hardest thing to achieve.
What This Means, If Anything
Provident exited. Amidst a landscape crowded with delivery services. Amazon, Kroger, Uber, DoorDash… they’re all vying for the same slice of the pie. And that pie, it seems, isn’t growing as quickly as everyone hoped. A slowing growth rate, from 19% in 2023 to 11% in 2024, and now a further dip to 10% in the first three quarters of 2025. A predictable arc, really. So it goes.
They did manage an 18% increase in net income over the last twelve months. A small victory, perhaps. And the P/E ratio of 20, with a forward P/E around 9, might tempt a bargain hunter. But consider this: Provident also holds positions in Kroger, Uber, and DoorDash. More direct plays in the delivery game. A logical decision, wouldn’t you say?
The world keeps turning. Companies rise and fall. And we, the consumers, continue to need groceries delivered to our door. It’s a sad, beautiful, and ultimately pointless cycle. So it goes.
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2026-02-10 03:14