ClearBridge Investments, an investment management company, released its “ClearBridge International Growth EAFE Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Holdings in Europe and the United Kingdom made significant contributions to the Strategy’s performance, which exceeded its benchmark, the MSCI EAFE Index. The strategy generated gains across nine of the ten sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge International Growth EAFE Strategy featured stocks such as MercadoLibre, Inc. (NASDAQ:MELI) in its Q4 2023 investor letter. Headquartered in Montevideo, Uruguay, Mercadolibre, Inc. (NASDAQ:MELI) is an online commerce platform that operates through Mercado Libre Marketplace and Mercado Pago FinTech platform. On January 8, 2024, MercadoLibre, Inc. (NASDAQ:MELI) stock closed at $1,575.60 per share. One-month return of MercadoLibre, Inc. (NASDAQ:MELI) was -2.56%, and its shares gained 72.05% of their value over the last 52 weeks. MercadoLibre, Inc. (NASDAQ:MELI) has a market capitalization of $79.662 billion.
ClearBridge International Growth EAFE Strategy stated the following regarding MercadoLibre, Inc. (NASDAQ:MELI) in its fourth quarter 2023 investor letter:
“Emerging growth companies Shopify and MercadoLibre, Inc. (NASDAQ:MELI) continue to show improved operational performance. MercadoLibre’s investments in new services continue to drive revenue growth and margin improvement. New loyalty programs, credit services and advertising products, for example, all contributed to good business performance.”
A customer using their phone to access an online commerce platform.
MercadoLibre, Inc. (NASDAQ:MELI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 76 hedge fund portfolios held MercadoLibre, Inc. (NASDAQ:MELI) at the end of third quarter which was 77 in the previous quarter.
We discussed MercadoLibre, Inc. (NASDAQ:MELI) in another article and shared Artisan Partners’ views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.