Pictet North America Expands Stake in E-Commerce Giant MercadoLibre

Pictet North America Advisors SA has disclosed an increase in its holdings of MercadoLibre (NASDAQ: MELI), according to a recent U.S. Securities and Exchange Commission (SEC) filing. The firm acquired an additional 3,529 shares, a transaction with an estimated value of $6.81 million based on average closing prices for the first quarter of 2026. This acquisition brings Pictet's total stake in the company to 12,871 shares, with a total position value of approximately $22.25 million. The holding now represents 2.21% of the fund's reportable 13F assets under management, although it remains outside the firm's top five largest holdings. MercadoLibre continues to leverage its integrated ecosystem, combining e-commerce with its Mercado Pago fintech arm and Mercado Envios logistics network to maintain a competitive edge in high-growth emerging markets. The company currently maintains a market capitalization of $92.87 billion and employs over 84,000 people. Financial performance in 2025 showed a stark contrast between top-line and bottom-line growth. While revenue surged by 44%, net income grew by only 5% to $2.0 billion, hampered by increased competition in the e-commerce sector and a rise in non-performing loans. Despite these headwinds, the company's P/E ratio of 47 suggests that investors continue to price in significant long-term growth. This latest purchase follows a strategic entry by Pictet in the fourth quarter of 2025, when the stock had dipped into bear market territory. The continued accumulation suggests a bullish long-term outlook on the company's ability to scale its digital commerce and financial solutions across Latin America.