Generali Bets Big on MELI: Because Latin America Still Needs Stuff

So, Generali Powszechne Towarzystwo Emerytalne – try saying that five times fast – just dropped $10.6 million on MercadoLibre (MELI +3.29%). Look, I get it. Everyone’s chasing yield these days. And when you’ve got a name that sounds like a rejected James Bond villain, you have to invest in something exciting. Apparently, 5,030 shares of a Latin American e-commerce giant qualifies.

What Happened, Exactly?

According to the SEC filing – because everything needs a filing – Generali increased its stake in MercadoLibre. It’s like when you realize you really like a band, and then you buy all their albums. Except instead of a band, it’s a company that ships stuff to people. And instead of a credit card, it’s… well, it’s a fund managing billions. Semantics, really. The purchase bumped their holdings by $6.88 million, which, let’s be honest, is a nice little bonus for someone’s quarterly numbers.

Let’s Talk Portfolio Strategy (and What This Actually Means)

This buy now represents 5.2% of Generali’s reportable 13F assets. That’s… commitment. Like, “I’m bringing a casserole to the potluck” level commitment. Here’s a quick look at where their other money’s parked:

NASDAQ:MU: $42.81 million (7.3% of AUM) – Memory chips. Reliable. Predictable. A little… beige.
NASDAQ:AMZN: $37.62 million (6.4% of AUM) – Amazon. The everything store. Also, the company that’s probably figuring out how to deliver groceries by drone.
NASDAQ:MSFT: $34.10 million (5.8% of AUM) – Microsoft. Still a thing. Surprisingly.
NASDAQ:META: $33.00 million (5.6% of AUM) – Meta. Good luck with the metaverse, guys.
NYSE:CRM: $30.68 million (5.2% of AUM) – Salesforce. Because everyone needs customer relationship management. Even if they don’t like customers.

As of January 23, 2026, MELI was trading at $2,137.29 – up 16.9% year-over-year. Which is… good. It even beat the S&P 500 by 3.85 percentage points. Small victories, people. Small victories.

The Fine Print (aka Company Overview)

Metric	Value
Market Capitalization	$108.35 billion
Revenue (TTM)	$26.19 billion
Net Income (TTM)	$2.08 billion
Price (as of market close 1/23/26)	$2,137.29

What Does MercadoLibre Do?

They run an e-commerce platform (Mercado Libre Marketplace). Think Amazon, but with more passion.
They handle digital payments (Mercado Pago). Because cash is so last century.
They have logistics (Mercado Envios). Getting stuff from point A to point B. It’s harder than it looks.
They offer lending (Mercado Credito), investment services (Mercado Fondo), classifieds, advertising… the whole shebang.

Basically, they’re trying to be the Amazon of Latin America. Which, let’s be real, is a pretty good business plan. They’ve got 84,000 employees and a footprint across the region. That’s a lot of boxes.

The Investor Angle: Why This Matters (or Doesn’t)

Generali’s timing is… interesting. MELI’s growth has slowed a bit, and everyone’s worried about Amazon eating their lunch. Plus, there’s the whole “bad debt” thing with their lending portfolio. But here’s the thing: MercadoLibre is built for chaos. They operate in a region that’s… let’s say “dynamic.” Political turmoil? Economic instability? They’ve seen it all. And they’ve figured out how to profit from it. It’s a skill.

Revenue is still growing at a healthy 37% year-over-year, and with Argentina and Venezuela potentially stabilizing, things could get even better. The P/E ratio is 53, which isn’t exactly cheap, but it’s a steal compared to Amazon’s historical valuations.

And finally, this makes MELI Generali’s sixth-largest holding. Which means, if things go well, it could become a top-five position. And that, my friends, is what we call a good trade.

2026-01-26 22:43

What Happened, Exactly?

Let’s Talk Portfolio Strategy (and What This Actually Means)

The Fine Print (aka Company Overview)

What Does MercadoLibre Do?

The Investor Angle: Why This Matters (or Doesn’t)

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