Coronation Fund Managers disclosed buying 53,352 shares of MercadoLibre for an estimated $112.06 million based on quarterly average pricing. The stake now represents 12.81% of their $2.23 billion reportable AUM as of December 31. MercadoLibre shares were priced at $2,268.60 on January 28, up 19.7% over the past year.

The company generates revenue through transaction fees, financial services, logistics, and value-added services across Latin America. MercadoLibre operates as a leading e-commerce and fintech platform in the region, leveraging an integrated ecosystem to drive growth and deepen user engagement. The company’s competitive advantage lies in its network effect and diversified suite of technology-driven services tailored to the Latin American market.

Coronation Fund Managers’ latest filing reflects a significant position in MercadoLibre alongside other high-conviction ideas. The company continues to scale across commerce, payments, and credit, driving higher engagement and monetization per user. Revenue growth remains strong, margins are expanding, and logistics investments are paying off. Adding to the position signals confidence in MercadoLibre’s competitive moat and growth potential.

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Read more at Yahoo Finance: This 12.8% Portfolio Bet Signals Conviction in MercadoLibre