Mercadolibre Stock Is Up 12%, But This Fund Just Dumped $6 Million

On February 2, Triasima Portfolio Management Inc. disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 3,013 shares of MercadoLibre (NASDAQ:MELI) during the fourth quarter, an estimated $6.33 million trade based on quarterly average pricing.

What happened

According to the SEC filing dated February 2, Triasima Portfolio Management Inc. sold 3,013 shares of MercadoLibre during the fourth quarter. The estimated value of this sale was $6.33 million, calculated using the average closing price for the quarter. As a result, the fund’s quarter-end position decreased by $7.19 million, a figure that includes both the share sale and price fluctuations.

What else to know

Following the sale, MercadoLibre represents 0.14% of Triasima Portfolio Management Inc.’s 13F assets under management

Top holdings after the filing:

• NYSE: RY: $41.05 million (6.1% of AUM)
• NASDAQ: SHOP: $29.40 million (4.4% of AUM)
• NYSE: TD: $23.70 million (3.6% of AUM)
• NYSE: KGC: $21.84 million (3.3% of AUM)
• NYSE: CM: $20.21 million (3.0% of AUM)

As of February 2, shares of MercadoLibre were priced at $2,145.37, up 12.4% over the past year and underperforming the S&P 500’s 15% gain in the same period.

Company overview

Company snapshot

• MercadoLibre offers a diversified suite of services including the Mercado Libre online marketplace, Mercado Pago fintech platform, logistics and fulfillment via Mercado Envios, digital advertising, and classified listings.
• The company generates revenue primarily through transaction fees from e-commerce sales, fintech payment processing, credit solutions, logistics services, and value-added advertising products.
• It serves businesses, merchants, and individual consumers across Latin America, targeting both online sellers and buyers seeking integrated digital commerce and financial solutions.

MercadoLibre, Inc. is a leading Latin American e-commerce and fintech platform, operating at scale with a comprehensive ecosystem for digital commerce and payments. The company leverages its integrated marketplace, payments, logistics, and credit offerings to drive user engagement and cross-platform monetization. Its regional footprint and technology-driven approach position it as a key enabler of digital transformation and financial inclusion in its core markets.

What this transaction means for investors

Position sizing says more than trading activity ever could. In this case, the real signal is not the modest trim itself, but how small MercadoLibre sits within a portfolio dominated by Canadian banks, regional financials, and gold exposure. At just 0.14% of assets after the sale, MercadoLibre remains a satellite holding rather than a core conviction, especially compared with Royal Bank of Canada and Shopify, which each command several percentage points of capital.

That stands in contrast to the company’s underlying momentum. In the third quarter, MercadoLibre delivered $7.4 billion in net revenue and financial income, up 39% year over year, while operating income climbed to $724 million and net income reached $421 million. Payments volume surged 41% year over year to $71.2 billion, and fintech monthly active users grew to 72 million, reinforcing the scale of its ecosystem across commerce, payments, credit, and advertising.

For long term investors, the takeaway is not about weakening fundamentals. It is about discipline. When a stock has compounded meaningfully and portfolio exposure is already minimal, trimming can reflect risk management rather than fading belief. MercadoLibre continues to execute at a level few global platforms can match, but in this portfolio, it remains a complement, not a centerpiece.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends MercadoLibre and Shopify. The Motley Fool has a disclosure policy.