Key Takeaways
- • Bienville Capital Management liquidated its entire 234,818-share position in monday.com (MNDY) during Q1 2026, realizing approximately $22.53 million based on average quarterly closing prices, according to SEC filings dated May 13, 2026.
- • The exited position represented 5.5% of Bienville's assets under management in the prior quarter, signaling a material reallocation of capital away from the software-as-a-service provider.
- • Monday.com stock has underperformed significantly, trading at $67.70 as of the exit filing date—a 76.7% decline over the preceding 12 months and 103.16 percentage points below S&P 500 performance.
- • Despite valuation pressure, monday.com maintains operational health with trailing twelve-month revenue of $1.3 billion and net income of $119.4 million, with a current market capitalization of $3.5 billion.
- • Bienville's top remaining holdings include positions in Acies Acquisition Corp (ACIO, 7.9% of AUM), Mercado Libre (MELI, 6.7%), DoorDash (DASH, 5.4%), Ciena Corporation (CIEN, 5.0%), and Kvyo Inc (KVYO, 4.3%).
Summary
Bienville Capital Management has completely exited its stake in monday.com, offloading 234,818 shares during the first quarter of 2026 for an estimated $22.53 million. The transaction was disclosed in an SEC filing dated May 13, 2026, and represents a full liquidation of a position that had comprised 5.5% of the fund's assets under management in the prior quarter.
The exit timing reflects broader weakness in monday.com's equity performance. As of the filing date, shares were trading at $67.70, representing a 76.7% decline over the prior 12 months and significantly underperforming the S&P 500 by 103.16 percentage points. This sharp valuation deterioration may have prompted the hedge fund's decision to redeploy capital elsewhere, though the company's underlying business metrics remain intact.
Monday.com, which operates a cloud-based Work OS platform offering project management, CRM, marketing, software development, and workflow automation tools, reported trailing twelve-month revenue of $1.3 billion and net income of $119.4 million as of the filing date. The profitability figures suggest operational fundamentals remain sound despite the equity market's harsh assessment, indicating the valuation decline may reflect investor sentiment around growth prospects rather than near-term operational deterioration.
Following the monday.com exit, Bienville's largest holdings include positions in Acies Acquisition Corp ($43.24 million, 7.9% of AUM), Mercado Libre ($36.73 million, 6.7%), DoorDash ($29.86 million, 5.4%), Ciena Corporation ($27.24 million, 5.0%), and Kvyo Inc ($23.89 million, 4.3%). The rebalancing suggests the fund is shifting exposure toward diversified technology and consumer-facing infrastructure plays.
The exit timing reflects broader weakness in monday.com's equity performance. As of the filing date, shares were trading at $67.70, representing a 76.7% decline over the prior 12 months and significantly underperforming the S&P 500 by 103.16 percentage points. This sharp valuation deterioration may have prompted the hedge fund's decision to redeploy capital elsewhere, though the company's underlying business metrics remain intact.
Monday.com, which operates a cloud-based Work OS platform offering project management, CRM, marketing, software development, and workflow automation tools, reported trailing twelve-month revenue of $1.3 billion and net income of $119.4 million as of the filing date. The profitability figures suggest operational fundamentals remain sound despite the equity market's harsh assessment, indicating the valuation decline may reflect investor sentiment around growth prospects rather than near-term operational deterioration.
Following the monday.com exit, Bienville's largest holdings include positions in Acies Acquisition Corp ($43.24 million, 7.9% of AUM), Mercado Libre ($36.73 million, 6.7%), DoorDash ($29.86 million, 5.4%), Ciena Corporation ($27.24 million, 5.0%), and Kvyo Inc ($23.89 million, 4.3%). The rebalancing suggests the fund is shifting exposure toward diversified technology and consumer-facing infrastructure plays.
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