What happened
According to a Form 13F filing disclosed on November 12, 2025, Black Swift Group, LLC initiated a new position in MercadoLibre (MELI +0.17%) during the third quarter. The fund purchased 3,405 shares, bringing the position’s value to $7.96 million at quarter-end. This marks MercadoLibre’s first appearance in the fund’s reported portfolio for the period ending September 30, 2025.
What else to know
- This is a new position for Black Swift Group, LLC, representing 1.4% of its $567.49 million in reportable equity assets
Top holdings after the filing:
- NYSEMKT: SPYG: $84.39 million (14.9% of AUM)
- NYSEMKT: SPY: $59.79 million (10.5% of AUM)
- NYSEMKT: IWF: $32.36 million (5.7% of AUM)
- NYSEMKT: XLK: $25.39 million (4.5% of AUM)
- NASDAQ: AMZN: $17.77 million (3.1% of AUM)
- As of November 12, 2025, MercadoLibre shares were priced at $2,103.91
- The stock returned 6.4% over the past year, underperforming the S&P 500 by 6.88 percentage points
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-12) | $2,103.91 |
| Market Capitalization | $106.66 billion |
| Revenue (TTM) | $26.19 billion |
| Net Income (TTM) | $2.08 billion |
Company snapshot
- Offers e-commerce marketplace, digital payments (Mercado Pago), logistics (Mercado Envios), credit (Mercado Credito), investment products (Mercado Fondo), classifieds, advertising, and online storefront solutions across Latin America.
- Generates revenue from transaction fees, payment processing, fintech services, logistics, advertising, and value-added services for merchants and consumers.
- Serves businesses, merchants, and individual consumers in Latin America.
MercadoLibre operates a broad digital ecosystem in Latin America, connecting consumers and merchants through its marketplace, payments, and logistics platforms. Its diversified business model supports both online commerce and financial services across the region.
Foolish take
In buying MercadoLibre, Black Swift Group adds to a portfolio heavily geared toward index funds and tech stocks. It also shows an added interest in e-commerce, which the fund has demonstrated by holding a significant position in Amazon.
Perhaps the only difference is that, with MercadoLibre, Black Swift may be taking a greater interest in non-U.S. stocks. Indeed, MercadoLibre has become one of the more successful Latin American stocks, growing by more than 7,300% since its 2007 IPO.
Additionally, MercadoLibre has prospered by turning regional challenges into competitive advantages. Dealing with a cash-based society led it to found fintech Mercado Pago, while it also created Mercado Envios to tackle the logistics challenges commonly found in the region.
Admittedly, the company has struggled lately as e-commerce competition from Amazon and Sea Limited has ramped up. Moreover, rising credit exposure has also caused concerns.
NASDAQ: MELI
Key Data Points
Nonetheless, this relative pause in the stock’s move higher seems to have created a buying opportunity for Black Swift. Given the stock’s history, MercadoLibre could easily become a profitable addition to the fund’s portfolio.
Glossary
13F assets under management (AUM): The total value of securities reported by an institutional investment manager on SEC Form 13F.
Form 13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Position: The amount of a particular security or investment held by a fund or investor.
Stake: The ownership interest or investment in a company, often measured by the number of shares owned.
Top holdings: The largest investments in a fund's portfolio, typically ranked by market value.
Digital payments: Electronic methods for transferring money or paying for goods and services online.
Fintech services: Financial services provided through technology, such as online payments, lending, or investment platforms.
Logistics: The management of the flow of goods, information, or resources from origin to consumer.
Value-added services: Additional features or offerings that enhance the core product or service for customers.
TTM: The 12-month period ending with the most recent quarterly report.
