1 week ago
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Soumya Eswaran
Tue, April 14, 2026 astatine 7:59 AM CDT 3 min read
JDP Capital Management, an concern absorption company, released its “Survivor & Thriver Fund” first-quarter 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. In the archetypal quarter, the money declined 15.1% nett to investors compared to the S&P 500’s -4.3% return. Concerns astir AI demolition fears and user softness impacted marketplace sentiment successful 2025, peculiarly affecting involvement rate-sensitive sectors. The opening of 2026 saw the continuation of AI-disruption worries intensified by the warfare successful Iran and rising lipid prices. The missive highlighted Survivor and Thriver criteria for resilient businesses, including adaptability, pricing power, robust superior allocation, and alignment betwixt absorption and shareholders. The steadfast believes that companies with insulated maturation runways whitethorn go much invaluable if the economical slowdown continues. Please reappraisal the Portfolio’s apical 5 holdings to summation insights into their cardinal selections for 2026.
In its first-quarter 2026 capitalist letter, JDP Capital Management highlighted stocks similar MercadoLibre, Inc. (NASDAQ:MELI) arsenic a recently added position. MercadoLibre, Inc. (NASDAQ:MELI) is simply a starring online commerce level successful Latin America that operates Mercado Libre Marketplace and Mercado Pago FinTech platforms. On April 13, 2026, MercadoLibre, Inc. (NASDAQ:MELI) banal closed astatine $1,831.93 per share. One-month instrumentality of MercadoLibre, Inc. (NASDAQ:MELI) was 6.01%, and its shares mislaid 13.52% implicit the past 52 weeks. MercadoLibre, Inc. (NASDAQ:MELI) has a marketplace capitalization of $92.87 billion.
JDP Capital Management stated the pursuing regarding MercadoLibre, Inc. (NASDAQ:MELI) successful its Q1 2026 capitalist letter:
"MercadoLibre, Inc. (NASDAQ:MELI) is simply a classical Survivor & Thriver concern but that we seldom spot connected sale. MELI is the ascendant e-commerce, fintech level and logistics supplier successful Latin America, up of Amazon, Shopee and smaller determination competitors. MELI is tally by founder-operators who are aggressively reinvesting successful the concern for the adjacent decade. Similar to Amazon successful the aboriginal 2000s, utilizing a P/E ratio to measure MELI's net powerfulness is simply a atrocious idea. That said, astatine an equity valuation of $85 cardinal oregon $1,600 per share, we acquired our involvement for little than 1x GMV and ~18x estimated 2026 earnings.3 Unlike US oregon European with a akin valuation and marketplace position, MELI should beryllium capable to proceed increasing northbound of 25% annually for years ahead, making our introduction terms precise attractive.
MELI is presently successful a important macro-driven drawdown, made worse by Iran warfare and sell-off successful emerging marketplace stocks. Prior to the caller 40% decline, the banal had besides not afloat kept up with cardinal maturation and geographic enlargement successful my opinion, particularly successful Mexico…” (Click present to work the afloat text)
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