On May 15, 2026, NWI Management LP reported selling all 42,700 shares of MercadoLibre (MELI 0.15%).
What happened
According to an SEC filing dated May 15, 2026, NWI Management LP sold all 42,700 shares of MercadoLibre during the first quarter. The estimated trade size was $82.37 million, based on the average unadjusted closing price for the quarter. The quarter-end value of the position declined by $86.01 million, a figure that includes both trading activity and changes in share price.
What else to know
- The MercadoLibre position accounted for 2.3% of AUM in the prior quarter.
- Top holdings after the filing:
- NASDAQ: QQQ: $354.79 million (20% of AUM)
- NASDAQ: INSM: $165.81 million (9.4% of AUM)
- NASDAQ: NTRA: $152.51 million (8.7% of AUM)
- NYSE: NU: $89.11 million (5.1% of AUM)
- NASDAQ: MSFT: $74.44 million (4.4% of AUM)
- As of May 14, 2026, shares were priced at $1,607.37, down 37.3% over the past year, underperforming the S&P 500 by 64.61 percentage points.
- The fund reported $1.76 billion in total U.S. equity holdings across 51 positions at quarter-end.
Company/Etf overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $31.80 billion |
| Net income (TTM) | $1.92 billion |
| Price (as of market close May 14, 2026) | $1,607.37 |
| One-year price change | (37.31%) |
Company/Etf snapshot
- Provides a comprehensive suite of e-commerce and fintech services, including the Mercado Libre Marketplace, Mercado Pago payments platform, Mercado Fondo investment solutions, Mercado Credito lending, and Mercado Envios logistics.
- Generates revenue primarily through marketplace transaction fees, payment processing, fintech products, logistics solutions, advertising services, and value-added offerings for merchants and consumers.
- Targets businesses, merchants, and individual consumers across Latin America, with a focus on high-growth markets in the region.
MercadoLibre is a leading Latin American e-commerce and fintech platform, operating at scale with a diversified portfolio of digital services. The company leverages its integrated ecosystem to drive user engagement and facilitate commerce and payments across multiple markets. Its competitive advantage stems from its robust technology infrastructure, broad product offering, and deep regional presence.
What this transaction means for investors
NWI Management’s liquidation in Q1 was notable. Although it was not the only stock the fund sold, it was the largest sale by dollar amount if not counting its sale of call options in Amazon, another e-commerce conglomerate it continued to hold.
Indeed, MercadoLibre stock has struggled as e-commerce competition has forced it to compress its margins. Also, the rapid expansion of its loan portfolio reduced the company’s profits in Q1, as the company more than doubled its provision for doubtful accounts as non-performing loans grew.
NASDAQ: MELI
Key Data Points
Company filings do not reveal why a company sells shares. Admittedly, considering the economic and political volatility in MercadoLibre’s home region, Latin America, the stock is somewhat riskier than Amazon, which could have played a factor in the sale of the consumer discretionary stock.
However, NWI’s liquidations also included its positions in Broadcom, PayPal, and Cloudflare. That makes it more likely that the sale involved a broad reshuffling of the portfolio, which may not be as bearish for MercadoLibre as it might appear.
