Fisher Funds Expands Stake in MercadoLibre Amid Valuation Dip

Fisher Funds Management has significantly increased its holdings in MercadoLibre (MELI), acquiring 30,716 additional shares during the first quarter of 2026. According to SEC filings, the estimated value of the transaction was approximately $59.25 million based on quarterly average prices. The acquisition comes at a time when MercadoLibre's stock has faced headwinds, declining roughly 12% over the past year. This underperformance stands in stark contrast to the S&P 500, which surged approximately 35% over the same period, suggesting a divergence between the company's market valuation and its operational performance. Despite the price action, the company's operational metrics remain robust. In the fourth quarter, MercadoLibre reported revenue of $8.8 billion, representing a 45% year-over-year increase, and achieved a net income of $559 million. The company's fintech arm continues to scale rapidly, processing $83.7 billion in total payment volume—a 40% increase—and managing a credit portfolio valued at $12.5 billion. By the end of the quarter, Fisher Funds' total position in MercadoLibre was valued at $61.33 million, consisting of 35,471 shares. While the position represents a modest 1.8% of the fund's overall portfolio, the strategic buy suggests a long-term bullish outlook on the Latin American e-commerce and fintech ecosystem, prioritizing fundamental growth over short-term price fluctuations.