Bell Global Equities Fund, managed by Bell Asset Management, released its latest investor update, available for download. March saw heightened volatility due to the Middle East conflict, with the MSCI World ex Australia Index falling 2.5% and the Bell Global Equities Fund (Wholesale class) declining 3.1%. The portfolio’s underweight in Energy was the primary headwind to relative performance, compounded by poor stock selection in Communication Services, Health, and Energy. A tentative ceasefire in early April has helped stabilize sentiment and reverse some March declines. Future market trends depend on the ceasefire’s durability and how ongoing energy supply disruptions affect inflation and growth through 2026. In addition, the ongoing AI disruption narrative is significantly influencing market behavior, causing indiscriminate selling across various sectors. The recent weakness appears to be sentiment-driven rather than fundamental deterioration, thus creating opportunities. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Bell Global Equities Fund highlighted MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre, Inc. (NASDAQ:MELI) is a leading online commerce platform in Latin America that operates Mercado Libre Marketplace and Mercado Pago FinTech platforms. On June 5, 2026, MercadoLibre, Inc. (NASDAQ:MELI) closed at $1,607.80 per share. One-month return of MercadoLibre, Inc. (NASDAQ:MELI) was -3.58%, and its shares lost 34.13% over the past 52 weeks. MercadoLibre, Inc. (NASDAQ:MELI) has a market capitalization of $81.51 billion.
Bell Global Equities Fund stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its Q1 2026 investor letter:
“A holding was also established in MercadoLibre, Inc. (NASDAQ:MELI), the “Amazon of Latin America”. MercadoLibre is a vast enterprise, shipping over US$85bn (3bn items) worth of goods each year to over 120 million customers. Both volumes and revenues have increased tenfold over the past six years, while the income statement and cash flow inflected into sustained profitability. We have long admired this company and its excellent founder-led management team, but the shares only occasionally provide an opportune window to enter a position. We had watched its success attract renewed competition last year and anticipated margins to come under pressure. With margin forecasts now reset to appropriate levels, we used the recent share price weakness to begin a position in a company where we forecast earnings will more than triple in the five years ahead.”
MercadoLibre, Inc. (NASDAQ:MELI) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 102 hedge fund portfolios held MercadoLibre, Inc. (NASDAQ:MELI) at the end of the first quarter, compared to 113 in the previous quarter. While we acknowledge the risk and potential of MercadoLibre, Inc. (NASDAQ:MELI) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MercadoLibre, Inc. (NASDAQ:MELI) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered MercadoLibre, Inc. (NASDAQ:MELI) and shared the list of best and cheap stocks to buy. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
