MELI
LONGSHORTINSIDER BUYCONGRESS BUYMercadolibre Inc
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NegativeMercadoLibre delivered strong revenue growth (Q2: +50% YoY to $10.2B, first time surpassing $10B) and beat EPS estimates, but operating margins compressed 550 bps YoY to 6.7% due to strategic investments in free shipping, credit, and logistics with no clear end date. Management prioritizes long-term market position over near-term profitability, creating investor uncertainty about margin recovery timing and valuation sustainability.
Red flags
- •Operating margin compression of 600 bps in Q1 and 550 bps in Q2 YoY; EBIT margin now 6.7% with no clear timeline for recovery
- •Multiple analyst downgrades post-earnings: UBS (Neutral, $2,050 PT), Citigroup (Neutral, $1,950 PT), with UBS noting margin recovery unlikely before 2027
- •Stock down 30% from 52-week high and down 6.2% since March 31; max drawdown of 38.80% reflects investor concern about investment cycle duration
- •Management explicitly confirmed continued heavy spending on free shipping, credit cards, and PIX discounts with no quantified end date or profitability targets
- •CEO transition completed Jan 1, 2026 (Galperin to Executive Chairman, Szarfsztejn as new CEO); execution risk on major strategic shift during investment cycle
Funds Buying (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| D1 Capital | Dan Sundheim | 374K | +149K | $646M | 5.8% | +66% | Existing |
| Durable Capital Partners | Henry Ellenbogen | 351K | +43K | $607M | 6.2% | +14% | Existing |
| Tiger Global | Chase Coleman | 135K | +135K | $233M | 1.0% | — | NEW |
| Maverick Capital | Lee Ainslie | 27K | +745 | $47M | 0.5% | +3% | Existing |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where MELI ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #2 of this fund's book
- 1MAPLEBEAR INC$845M
- 2MERCADOLIBRE INC$646M
- 3JAMES HARDIE INDS PLC$536M
- 4DANAHER CORP DEL$437M
- 5FLOWSERVE CORP$432M
position #3 of this fund's book
- 1RBC BEARINGS INC$1,236M
- 2DOORDASH INC$642M
- 3MERCADOLIBRE INC$607M
- 4API GROUP CORP$599M
- 5QNITY ELECTRONICS INC$587M
- 6XPO INC$571M
position #22 of this fund's book
- 19ZILLOW GROUP INC$305M
- 20BLOCK INC$241M
- 21NETFLIX INC.$235M
- 22MERCADOLIBRE INC$233M
- 23LIBERTY MEDIA CORP DEL$228M
- 24ZSCALER INC$222M
- 25CHIME FINL INC$208M
Values are quarter-end position sizes. Shown only for funds where MELI ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Funds Reducing / Exiting (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Duquesne Family Office | Stanley Druckenmiller | 3K | -44,355 | $5M | 2.3% | -94% | Existing |
| Altimeter Capital | Brad Gerstner | 0 | −68K | — | 2.1% | -100% | EXITED |
| Dragoneer | Marc Stad | 0 | −160K | — | 7.0% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Insider Activity
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Gilbert Cisneros | house | CA31 | BUY | $15,001 - $50,000 | 2026-06-10 | 2026-07-02 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.