Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
Royal London Global Equity Diversified Fund Portfolio Manager | “The manager initiated a position in Ferrari following a market correction triggered by conservative five-year growth outlooks. The firm maintains extremely strong competitive advantages, including high pricing power, a long order backlog, minimal debt, and low exposure to China.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
Royal London Global Equity Diversified Fund Portfolio Manager | “We introduced Ferrari following a recent fall in its share price. Ferrari is a Compounder with wide durable competitive advantages, combining brand (racing heritage as the oldest and most successful team in F1), scarcity (tightly controlled shipments), switching costs (you need to buy a Range model to be eligible for an Icona or Supercar), and a powerful combination of network-and Veblen-effects (as prices increase, the desirability increases, supporting the asset values of existing owners). These advantages translate into a sold-out order book 18-months in advance, high-single digit pricing power, sustained margin expansion and cash flow growth. It has limited Chinese exposure and almost no debt which enhances resilience. It has, however, fallen victim to its own success. The company recently suggested growth would be below the market's expected earnings for the next five years. While the market swiftly de-rated valuations, we view the long-term prospects as reinforced, and the entry point as attractive. BSD Analysis: Ferrari enters 2026 in a position of unmatched strength, with its order book effectively sold out through 2027 and a waiting list for its first fully electric supercar already exceeding expectations. The company continues to defy broader luxury sector trends by maintaining record-high margins, supported by a strategic focus on personalization and limited-series icons that command massive premiums. Management is prioritizing the rollout of its 2026 "e-building," which will house the production of electric and hybrid components, ensuring Ferrari retains full control over its technological DNA. With a low volume-to-demand ratio and a unique brand moat, the company functions more like a luxury asset manager than a traditional automaker. For investors, Ferrari offers a peerless combination of growth, scarcity value, and a highly resilient revenue profile that is largely immune to traditional economic cycles.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
American Century International Growth Fund Rajesh Gandhi, Jim Zhao | “Ferrari shares declined after the company lowered its 2030 EV sales target. We believe this reflects strategic discipline rather than weakness. Ferrari continues to deliver strong financial results while investing in electrification with flexibility across powertrains. Revenue, EBIT, and EPS grew strongly despite minimal shipment growth, underscoring pricing power and brand strength. BSD Analysis: Ferrari is the cleanest luxury business in the world because it refuses to grow. Scarcity is the strategy, not a byproduct. Demand vastly exceeds supply, giving Ferrari pricing power that most brands only pretend to have. Customers wait years — and happily pay more — which tells you everything about brand equity. Margins are elite because Ferrari sells emotion, not transportation. Electrification is a risk for mass automakers, but a design opportunity for Ferrari. Capital intensity is low relative to pricing power. This is not an auto stock. It's a luxury asset with manufacturing attached.” | BULL | Q4 2025 Dec 31, 2025 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.
