Fund initiates position in RACE after 40% pullback, highlighting limited production and strong pricing power through 2027.
Bell Global Equities Fund disclosed a new stake in Ferrari N.V. (RACE) at $375.03 per share, valuing the company at $65.67 billion. The fund cited Ferrari’s constrained production of 14,000 cars annually and a backlog extending into 2027 as key drivers of earnings visibility.
Shares fell 7.95% over the past month but gained 19.46% in the last 52 weeks. The fund noted the recent 40% retracement from highs presented an attractive entry point, emphasizing the brand’s pricing power amid inflation and trade tensions.
Ferrari’s deliberate supply limits and conservative management underpin long-term growth, according to the fund’s May 2026 investor letter.