Triasima Portfolio Management Inc. sold 3,013 shares of MercadoLibre for an estimated $6.33 million during the fourth quarter, as disclosed in a U.S. SEC filing on February 2. This reduced the fund’s position by $7.19 million, with MercadoLibre now representing 0.14% of its 13F assets under management.

The company’s top holdings post-filing include RY at $41.05 million (6.1% of AUM), SHOP at $29.40 million (4.4% of AUM), and TD at $23.70 million (3.6% of AUM). MercadoLibre shares were priced at $2,145.37 on February 2, up 12.4% in the past year but underperforming the S&P 500.

MercadoLibre offers a range of services like an online marketplace, fintech platform, logistics, and digital advertising. It generates revenue from e-commerce sales, payment processing, credit solutions, and advertising products targeting Latin American businesses and consumers.

Despite strong financial performance, MercadoLibre remains a satellite holding for Triasima Portfolio Management Inc., with a minimal position after the sale. The company reported $7.4 billion in net revenue in the third quarter, emphasizing its scale in commerce, payments, credit, and advertising. The stock remains a complement, not a centerpiece, in the portfolio.

Read more at Yahoo Finance: MercadoLibre Stock Is Up 12%, But This Fund Just Dumped $6 Million