STOCK TITAN

Sequoia funds (NASDAQ: CART) disclose 11.9% beneficial stake in Maplebear

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Sequoia-affiliated investment funds updated their ownership in Maplebear Inc. (Instacart) Class A common stock in Amendment No. 7 to their Schedule 13D. The reporting entities, led by SC US (TTGP), Ltd., may be deemed to beneficially own an aggregate 27,928,385 shares of Class A common stock, representing approximately 11.9% of the class.

These percentages are based on 235,029,814 Class A shares outstanding as of April 30, 2026, as reported in Maplebear’s Form 10-Q. Within this group, Sequoia Capital Fund, L.P. holds 20,144,842 shares (8.6%), and Sequoia Capital Fund Management, L.P. may be deemed to beneficially own 23,209,148 shares (9.9%).

The amendment states it is being filed due to a change in the aggregate number of Maplebear securities outstanding, rather than a major change in Sequoia’s position. Over the past 60 days, the only transaction disclosed is a reduction of 66,882 shares by Sequoia Capital Fund, L.P. on March 31, 2026 through transactions with certain limited partners.

Positive

  • None.

Negative

  • None.
Aggregate Sequoia beneficial ownership 27,928,385 shares Class A common stock; approximately 11.9% as of April 30, 2026
Ownership percentage 11.9% Aggregate Sequoia beneficial ownership of Maplebear Class A
Shares outstanding 235,029,814 shares Maplebear Class A outstanding as of April 30, 2026
Sequoia Capital Fund, L.P. stake 20,144,842 shares Approximately 8.6% of Maplebear Class A common stock
Sequoia Capital Fund Management, L.P. deemed stake 23,209,148 shares Approximately 9.9% of Maplebear Class A common stock
SCFP stake 3,064,306 shares Approximately 1.3% of Maplebear Class A common stock
SCGGF III - U.S./India Management stake 1,217,532 shares Approximately 0.5% of Maplebear Class A common stock
SCF share reduction 66,882 shares Reduction on March 31, 2026 via transactions with limited partners
beneficially own financial
"The Reporting Persons may be deemed to beneficially own an aggregate of 27,928,385 shares of Class A Common Stock"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
Rule 13d-3 regulatory
"calculated in accordance with Rule 13d-3 under the Act"
Rule 13d-3 defines who is treated as the beneficial owner of a company’s shares for U.S. securities disclosure rules — essentially anyone who has the power to vote or direct how shares are voted, or the power to buy or sell them, even if they don’t hold the certificates. For investors this matters because crossing certain ownership thresholds triggers public filing and disclosure obligations and signals potential control or influence, much like having the keys to a car implies you can drive it even if it’s registered to someone else.
Schedule 13D regulatory
"the initial that was filed on February 27, 2024 ... the "Original 13D" remains in effect"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
group regulatory
"may be deemed to constitute a "group" for purposes of Rule 13(d)(3) of the Act"
limited partners financial
"SCF had a reduction of 66,882 shares ... through transactions with certain of its limited partners"
Limited partners are investors who provide most of the capital to an investment partnership but do not run its day-to-day business; they have liability only up to the amount they invested. Think of them as silent backers who hire a manager to make decisions and share in profits or losses; their importance to investors lies in shaping how much money a fund can deploy, the risk and return profile they receive, and the liquidity and fees associated with that investment.





565394103

(CUSIP Number)
Jung Yeon Son
2800 Sand Hill Road, Suite 101
Menlo Park, CA, 94025
(650) 854-3927

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
05/07/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 8, 10 and 11. Includes 2,150,331 shares directly owned by SC US/E EXPANSION FUND I MGMT and 1,000,000 shares directly owned by SC US/E EXPANSION FUND I. The general partner of SC US/E EXPANSION FUND I is SC US/E EXPANSION FUND I MGMT. Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 8, 10 and 11. Includes 351,374 shares directly owned by SC GGF III. The general partner of SC GGF III is SC GGF III MGMT. Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 8, 10 and 11. Includes 3,064,306 shares directly owned by SCFP and 20,144,842 shares directly owned by SCF. SEQUOIA CAPITAL FUND MANAGEMENT is the general partner of SCF and the manager of SCFP. Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Row 8, 10 and 11. Includes 1,217,532 shares directly owned by SCGGF III - U.S./INDIA MANAGEMENT, 351,374 shares directly owned by SC GGF III, 1,000,000 shares directly owned by SC US/E EXPANSION FUND I, 2,150,331 shares directly owned by SC US/E EXPANSION FUND I MGMT, 3,064,306 shares directly owned by SCFP and 20,144,842 shares directly owned by SCF. The general partner of SC GGF III is SC GGF III MGMT. The general partner of SC US/E EXPANSION FUND I is SC US/E EXPANSION FUND I MGMT. The General Partner of SCF and the manager of SCFP is SEQUOIA CAPITAL FUND MANAGEMENT. SC US TTGP is the General Partner of SCGGF III- U.S./INDIA MANAGEMENT, SC GGF III MGMT, SC US/E EXPANSION FUND I MGMT and SEQUOIA CAPITAL FUND MANAGEMENT. Row 13. Based on a total of 235,029,814 shares of Class A common stock as of April 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026.


SCHEDULE 13D


SEQUOIA CAPITAL GLOBAL GROWTH FUND III - ENDURANCE PARTNERS, L.P. ("SC GGF III")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SEQUOIA CAPITAL US/E EXPANSION FUND I, L.P. ("SC US/E EXPANSION FUND I")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SEQUOIA CAPITAL US/E EXPANSION FUND I MANAGEMENT, L.P. ("SC US/E EXPANSION FUND I MGMT")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SCGGF III - U.S./INDIA MANAGEMENT, L.P. ("SCGGF III - U.S./INDIA MANAGEMENT")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SEQUOIA CAPITAL GLOBAL GROWTH FUND III - ENDURANCE PARTNERS MANAGEMENT, L.P. ("SC GGF III MGMT")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SEQUOIA CAPITAL FUND PARALLEL, LLC ("SCFP")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SEQUOIA CAPITAL FUND, L.P. ("SCF")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SEQUOIA CAPITAL FUND MANAGEMENT, L.P. ("SEQUOIA CAPITAL FUND MANAGEMENT")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026
SC US (TTGP), LTD. ("SC US (TTGP)")
Signature:/s/ Jung Yeon Son
Name/Title:Jung Yeon Son, Authorized Signatory
Date:05/11/2026

FAQ

How much of Maplebear Inc. (CART) do the Sequoia entities currently beneficially own?

The Sequoia reporting entities may be deemed to beneficially own 27,928,385 shares of Maplebear Class A common stock, about 11.9% of the class. This figure is calculated under Rule 13d-3 using 235,029,814 shares outstanding as of April 30, 2026.

Which Sequoia fund holds the largest stake in Maplebear Inc. (CART)?

Sequoia Capital Fund, L.P. holds the largest individual stake, beneficially owning 20,144,842 shares of Maplebear Class A common stock, or approximately 8.6% of the class. This stake forms the majority of the total Sequoia group holdings disclosed in the amendment.

Why was Amendment No. 7 to the Schedule 13D for Maplebear Inc. (CART) filed?

Amendment No. 7 was filed due to a change in the aggregate number of Maplebear securities outstanding. The filing updates percentage ownership calculations using 235,029,814 Class A shares outstanding as of April 30, 2026, while the underlying Sequoia positions remain largely consistent.

What recent share transactions involving Maplebear Inc. (CART) did Sequoia disclose?

The filing reports that, during the past 60 days, the only disclosed transaction was on March 31, 2026, when Sequoia Capital Fund, L.P. had a reduction of 66,882 shares of Maplebear Class A common stock through transactions with certain of its limited partners.

How many Maplebear Inc. (CART) Class A shares are used to compute Sequoia’s ownership percentages?

Ownership percentages are based on 235,029,814 shares of Maplebear Class A common stock outstanding as of April 30, 2026. This share count comes from Maplebear’s Quarterly Report on Form 10-Q filed with the SEC on May 7, 2026, as cited in the filing.

Do all Sequoia entities have the same level of control over Maplebear Inc. (CART) shares?

No. Individual Sequoia entities hold different amounts, and some are general partners or managers of others. The filing notes entities like SC US (TTGP), Ltd. and Sequoia Capital Fund Management, L.P. may be deemed to beneficially own shares held by related funds under Rule 13d-3.