Vault-13

FERRARI N V RACE

COM · Common Stock · CUSIP N3167Y103

Dutch holding company that controls Ferrari

770 institutional holders -6 vs Q3 2025
60,034,24360.0m shares reported held*
$22.2bnreported value*
100 new 236 added 268 reduced 144 sold out net sold ≈ $2.1bn (-5.7m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($31.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $370.25. Options: 29 managers hold calls ($598.4m notional), 31 hold puts ($842.2m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 404Q4 22: 441Q1 23: 475Q2 23: 517Q3 23: 525Q4 23: 575Q1 24: 655Q2 24: 657Q3 24: 703Q4 24: 717Q1 25: 750Q2 25: 777Q3 25: 776Q4 25: 770770Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022404
Q4 2022441
Q1 2023475
Q2 2023517
Q3 2023525
Q4 2023575
Q1 2024655
Q2 2024657
Q3 2024703
Q4 2024717
Q1 2025750
Q2 2025777
Q3 2025776
Q4 2025770

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
5000500Q1 24: 352 bought or addedQ1 24: 234 cut or sold outQ2 24: 313 bought or addedQ2 24: 275 cut or sold outQ2 24Q3 24: 362 bought or addedQ3 24: 247 cut or sold outQ4 24: 296 bought or addedQ4 24: 319 cut or sold outQ4 24Q1 25: 370 bought or addedQ1 25: 292 cut or sold outQ2 25: 358 bought or addedQ2 25: 333 cut or sold outQ2 25Q3 25: 407 bought or addedQ3 25: 300 cut or sold outQ4 25: 336 bought or addedQ4 25: 412 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024352234
Q2 2024313275
Q3 2024362247
Q4 2024296319
Q1 2025370292
Q2 2025358333
Q3 2025407300
Q4 2025336412

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$250m$500m$750m$1bnQ1 25 calls: $399.4mQ1 25 puts: $600.9mQ1 25P/C 1.50Q2 25 calls: $425.8mQ2 25 puts: $515.1mQ2 25P/C 1.21Q3 25 calls: $730.7mQ3 25 puts: $696.6mQ3 25P/C 0.95Q4 25 calls: $598.4mQ4 25 puts: $842.2mQ4 25P/C 1.41
Numbers
QuarterCallsPutsP/C
Q1 2025$399.4m$600.9m1.50
Q2 2025$425.8m$515.1m1.21
Q3 2025$730.7m$696.6m0.95
Q4 2025$598.4m$842.2m1.41

Biggest buyers

MORGAN STANLEY Added +771,039+771.0k
Mitsubishi UFJ Asset Management Co., Ltd. New +546,390+546.4k
Vontobel Holding Ltd. Added +423,359+423.4k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +401,534+401.5k
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +396,370+396.4k
Amundi Added +330,896+330.9k
AKO CAPITAL LLP Added +311,907+311.9k
ROYAL LONDON ASSET MANAGEMENT LTD Added +287,907+287.9k
SIH Partners, LLLP Added +253,867+253.9k
CANADA PENSION PLAN INVESTMENT BOARD Added +197,095+197.1k

Biggest sellers

GROUPAMA ASSET MANAGMENT Sold out -16,900,000-16.9m
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -1,512,504-1.5m
FMR LLC Reduced -1,456,275-1.5m
JPMORGAN CHASE & CO Reduced -1,402,403-1.4m
Capital World Investors Sold out -1,175,679-1.2m
BlackRock, Inc. Reduced -1,058,984-1.1m
Capital International Investors Reduced -901,705-901.7k
Ilex Capital Partners (UK) LLP Sold out -380,050-380.1k
MARSHALL WACE, LLP Reduced -301,839-301.8k
MACQUARIE GROUP LTD Sold out -290,213-290.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $110.2m298.1k shares
JPMORGAN CHASE & CO Reduced $93.4m252.8k shares
CITADEL ADVISORS LLC Added $84.2m227.8k shares
Optiver Holding B.V. Reduced $55.4m150.0k shares
JANE STREET GROUP, LLC Added $45.4m122.8k shares
SIH Partners, LLLP Reduced $38.9m105.3k shares
IMC-Chicago, LLC Added $25.8m69.9k shares
GROUP ONE TRADING LLC Added $20.4m55.2k shares
Jain Global LLC New $18.5m50.0k shares
SIMPLEX TRADING, LLC Added $15.1m40.9k shares

Biggest puts

SIH Partners, LLLP Added $224.1m606.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $129.2m349.7k shares
CITADEL ADVISORS LLC Added $99.6m269.4k shares
Optiver Holding B.V. Reduced $69.6m188.2k shares
IMC-Chicago, LLC Added $32.0m86.5k shares
JANE STREET GROUP, LLC Added $31.8m86.1k shares
Squarepoint Ops LLC Added $28.5m77.1k shares
D. E. Shaw & Co., Inc. Added $22.6m61.2k shares
CITIGROUP INC Added $21.4m58.0k shares
GOLDMAN SACHS GROUP INC Added $20.3m55.0k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Exor N.V. 13D · may seek influence -10.5 pts · filed 2026-01-06
Stated purposeItem 4 is hereby amended and supplemented to include the following: The information set forth in Item 6 hereof is hereby incorporated by reference into this Item 4. Full filing
21.3% -10.5 pts 37.8m≈ $14.1bn 2026-01-06

Insider purchases and sales in Q4 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.03% of their portfolio Valley Forge, PA 5,213,4505.2m $1.9bn $1.9bn 0.03% Added +58.5k +58,506
2 BAILLIE GIFFORD & CO 1.21% of their portfolio EDINBURGH, X0 3,890,0143.9m $1.5bn $1.5bn 1.21% Reduced -51.8k -51,816
3 BANK OF AMERICA CORP /DE/ 0.09% of their portfolio CHARLOTTE, NC 3,351,0993.4m $1.2bn $1.2bn 0.09% Added +132.6k +132,561
4 Amundi 0.33% of their portfolio Paris, I0 3,303,2643.3m $1.2bn $1.2bn 0.33% Added +330.9k +330,896
5 Bank of New York Mellon Corp 0.17% of their portfolio NEW YORK, NY 2,590,0252.6m $957.2m $957.2m 0.17% Reduced -80.7k -80,737
6 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 2,546,5642.5m $941.1m $941.1m 0.06% Added +771.0k +771,039
7 Bank of Italy 39.42% of their portfolio ROME, L6 2,423,2352.4m $907.4m $907.4m 39.42% Reduced -39.5k -39,536
8 ALLIANCEBERNSTEIN L.P. 0.27% of their portfolio NASHVILLE, TN 2,334,7452.3m $862.8m $862.8m 0.27% Reduced -44.5k -44,516
9 NORGES BANK 0.08% of their portfolio OSLO, Q8 2,085,9452.1m $779.9m $779.9m 0.08% Not comparable
10 UBS Group AG 0.10% of their portfolio ZURICH, V8 1,299,9501.3m $480.4m $480.4m 0.10% Reduced -95.1k -95,130
11 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 1,076,2021.1m $397.7m $397.7m 0.06% Reduced -145.3k -145,324
12 DEUTSCHE BANK AG\ 0.12% of their portfolio FRANKFURT AM MAIN, 2M 973,583973.6k $359.8m $359.8m 0.12% Added +36.7k +36,670
13 AKO CAPITAL LLP 5.35% of their portfolio LONDON, X0 944,867944.9k $351.5m $351.5m 5.35% Added +311.9k +311,907
14 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 934,021934.0k $345.2m $345.2m 0.02% Reduced -1.4m -1,402,403
15 Legal & General Group Plc 0.08% of their portfolio London, X0 911,503911.5k $341.0m $341.0m 0.08% Added +28.6k +28,618
16 Ninety One UK Ltd 0.73% of their portfolio London, X0 905,123905.1k $338.8m $338.8m 0.73% Reduced -73.0k -72,997
17 Capital Research Global Investors 0.06% of their portfolio Los Angeles, CA 898,442898.4k $333.9m $333.9m 0.06% Added +104.3k +104,319
18 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.24% of their portfolio Toronto, A6 790,374790.4k $292.4m $292.4m 0.24% Added +401.5k +401,534
19 Banco Santander, S.A. 1.78% of their portfolio Madrid, U3 642,921642.9k $237.6m $237.6m 1.78% Added +64.8k +64,797
20 Groupe la Francaise 3.28% of their portfolio PARIS, I0 634,557634.6k $225.7m $225.7m 3.28% Reduced -79.9k -79,879
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio BALTIMORE, MD 607,812607.8k $224.6m $224.6m 0.02% Reduced -1.5m -1,512,504
22 Capital International Investors 0.03% of their portfolio Los Angeles, CA 598,299598.3k $222.8m $222.8m 0.03% Reduced -901.7k -901,705
23 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 567,206567.2k $208.3m $208.3m 0.05% Reduced -77.6k -77,619
24 CREDIT AGRICOLE S A 0.58% of their portfolio Montrouge Cedex, I0 565,018565.0k $208.8m $208.8m 0.58% Reduced -10.0k -9,986
25 Vontobel Holding Ltd. 0.69% of their portfolio ZURICH, V8 557,868557.9k $208.6m $208.6m 0.69% Added +423.4k +423,359
26 Mitsubishi UFJ Asset Management Co., Ltd. 0.14% of their portfolio TOKYO, M0 546,390546.4k $203.2m $203.2m 0.14% New
27 Nuveen, LLC 0.05% of their portfolio CHARLOTTE, NC 536,376536.4k $200.8m $200.8m 0.05% Added +4.9k +4,916
28 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 466,628466.6k $172.4m $172.4m 0.03% Added +69.0k +68,991
29 WCM INVESTMENT MANAGEMENT, LLC 0.33% of their portfolio LAGUNA BEACH, CA 424,528424.5k $158.1m $158.1m 0.33% Reduced -9.1k -9,081
30 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.14% of their portfolio Paris, I0 396,370396.4k $126.3m $126.3m 0.14% New
31 Clearbridge Investments, LLC 0.11% of their portfolio NEW YORK, NY 387,182387.2k $143.1m $143.1m 0.11% Reduced -26.5k -26,545
32 CANADA PENSION PLAN INVESTMENT BOARD 0.09% of their portfolio TORONTO ONTARIO, A6 367,374367.4k $137.3m $137.3m 0.09% Added +197.1k +197,095
33 MARSHALL WACE, LLP 0.13% of their portfolio LONDON, X0 353,027353.0k $131.4m $131.4m 0.13% Reduced -301.8k -301,839
34 BARCLAYS PLC 0.05% of their portfolio LONDON, X0 352,247352.2k $130.2m $130.2m 0.05% Reduced -170.7k -170,685
35 BANK OF MONTREAL /CAN/ 0.05% of their portfolio TORONTO, A6 350,567350.6k $129.6m $129.6m 0.05% Added +113.9k +113,927
36 DekaBank Deutsche Girozentrale 0.23% of their portfolio FRANKFURT, 2M 345,846345.8k $132.3m $132.3m 0.23% Added +48.0k +48,002
37 Swiss National Bank 0.08% of their portfolio ZURICH, V8 344,083344.1k $128.6m $128.6m 0.08% Reduced -20.4k -20,423
38 WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio Boston, MA 344,078344.1k $128.8m $128.8m 0.02% Reduced -192.4k -192,408
39 ROYAL LONDON ASSET MANAGEMENT LTD 0.26% of their portfolio UNITED KINGDOM, X0 332,495332.5k $122.9m $122.9m 0.26% Added +287.9k +287,907
40 Pictet Asset Management Holding SA 0.12% of their portfolio CAROUGE, V8 327,487327.5k $122.6m $122.6m 0.12% Reduced -89.4k -89,383
41 Bank Julius Baer & Co. Ltd, Zurich 0.32% of their portfolio ZURICH, V8 316,590316.6k $115.2m $115.2m 0.32% Added +22.7k +22,717
42 SANDS CAPITAL MANAGEMENT, LLC 0.35% of their portfolio ARLINGTON, VA 309,983310.0k $114.6m $114.6m 0.35% Added +58.3k +58,285
43 AVIVA PLC 0.17% of their portfolio LONDON, X0 276,705276.7k $103.1m $103.1m 0.17% Added +69.0k +68,986
44 Allianz Asset Management GmbH 0.12% of their portfolio MUNICH, 2M 274,926274.9k $101.6m $101.6m 0.12% Added +35.8k +35,837
45 SIH Partners, LLLP 5.56% of their portfolio Wilmington, DE 258,277258.3k $95.4m $95.4m 5.56% Added +253.9k +253,867
46 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.08% of their portfolio FRANKFURT AM MAIN, 2M 243,593243.6k $90.0m $90.0m 0.08% Reduced -49.6k -49,615
47 FMR LLC 0.00% of their portfolio BOSTON, MA 242,626242.6k $89.7m $89.7m 0.00% Reduced -1.5m -1,456,275
48 MACKENZIE FINANCIAL CORP 0.10% of their portfolio TORONTO ONTARIO, A6 236,285236.3k $87.9m $87.9m 0.10% Reduced -140.5k -140,539
49 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 236,027236.0k $87.2m $87.2m 0.01% Reduced -13.4k -13,447
50 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 234,527234.5k $87.3m $87.3m 0.02% Reduced -122.8k -122,764
51 DNCA FINANCE 5.02% of their portfolio PARIS, I0 231,729231.7k $86.7m $86.7m 5.02% Added +160.5k +160,510
52 Rheos Capital Works Inc. 5.45% of their portfolio Tokyo, M0 230,200230.2k $85.1m $85.1m 5.45% Added +15.0k +15,000
53 BIGLARI CAPITAL CORP. 8.94% of their portfolio San Antonio, TX 225,581225.6k $83.4m $83.4m 8.94% Added +18.0k +17,981
54 Intesa Sanpaolo S.p.A. 5.40% of their portfolio TURIN, L6 223,999224.0k $83.9m $83.9m 5.40% First filing
55 BlackRock, Inc. 0.00% of their portfolio New York, NY 223,880223.9k $82.7m $82.7m 0.00% Reduced -1.1m -1,058,984
56 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.22% of their portfolio CHICAGO, IL 214,980215.0k $79.4m $79.4m 0.22% Reduced -179.5k -179,469
57 AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio KANSAS CITY, MO 209,809209.8k $77.5m $77.5m 0.04% Reduced -196.0k -195,965
58 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 203,120203.1k $75.1m $75.1m 0.02% Added +4.6k +4,577
59 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 198,206198.2k $73.2m $73.2m 0.05% Reduced -9.5k -9,499
60 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 196,599196.6k $72.7m $72.7m 0.01% Added +6.5k +6,525
61 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 190,831190.8k $70.7m $70.7m 0.02% Reduced -43.6k -43,639
62 Groupe des Assurances du Credit Mutuel 23.18% of their portfolio STRASBOURG, I0 185,000185.0k $68.4m $68.4m 23.18% New
63 CIBC Private Wealth Group LLC 0.12% of their portfolio ATLANTA, GA 184,894184.9k $68.8m $68.8m 0.12% Added +977 +977
64 JANE STREET GROUP, LLC 0.08% of their portfolio NEW YORK, NY 182,963183.0k $67.6m $67.6m 0.08% Added +91.0k +90,955
65 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.10% of their portfolio PHILADELPHIA, PA 176,559176.6k $65.2m $65.2m 0.10% First filing
66 Allspring Global Investments Holdings, LLC 0.11% of their portfolio CHARLOTTE, NC 176,030176.0k $65.5m $65.5m 0.11% Added +172.3k +172,316
67 Compagnie Lombard Odier SCmA 0.66% of their portfolio 1204 GENEVA, V8 163,004163.0k $61.0m $61.0m 0.66% Added +306 +306
68 Korea Investment CORP 0.12% of their portfolio SEOUL, M5 159,457159.5k $59.7m $59.7m 0.12% Added +51.1k +51,118
69 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 153,537153.5k $56.8m $56.8m 0.04% Added +71.5k +71,474
70 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 139,569139.6k $51.6m $51.6m 0.03% Added +132.1k +132,101
71 Artisan Partners Limited Partnership 0.07% of their portfolio Milwaukee, WI 129,867129.9k $48.0m $48.0m 0.07% Added +13.6k +13,599
72 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 128,274128.3k $47.4m $47.4m 0.03% Added +62.4k +62,379
73 TD Asset Management Inc 0.04% of their portfolio Toronto, A6 125,707125.7k $46.7m $46.7m 0.04% Reduced -246.6k -246,577
74 State of Tennessee, Department of Treasury 0.13% of their portfolio NASHVILLE, TN 123,019123.0k $41.1m $41.1m 0.13% Reduced -136.2k -136,182
75 Point72 Asset Management, L.P. 0.07% of their portfolio STAMFORD, CT 119,184119.2k $44.0m $44.0m 0.07% Added +13.5k +13,461
76 Russell Investments Group, Ltd. 0.05% of their portfolio Seattle, WA 116,934116.9k $43.7m $43.7m 0.05% Reduced -40.4k -40,393
77 Douglas Lane & Associates, LLC 0.59% of their portfolio NEW YORK, NY 116,017116.0k $42.9m $42.9m 0.59% Added +13.7k +13,668
78 Bowie Capital Management, LLC 1.70% of their portfolio Richardson, TX 111,891111.9k $41.4m $41.4m 1.70% Added +50.4k +50,413
79 Baskin Financial Services Inc. 3.11% of their portfolio TORONTO, A6 111,836111.8k $41.3m $41.3m 3.11% Added +1.5k +1,479
80 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.14% of their portfolio JUPITER, FL 110,219110.2k $40.7m $40.7m 0.14% New
81 Stony Point Capital LLC 2.96% of their portfolio NEW YORK, NY 108,439108.4k $40.1m $40.1m 2.96% Added +2.6k +2,623
82 Capital International, Inc./CA/ 0.32% of their portfolio Los Angeles, CA 108,182108.2k $40.5m $40.5m 0.32% Reduced -75.8k -75,811
83 Quadrature Capital Ltd 0.40% of their portfolio LONDON, X0 105,693105.7k $39.6m $39.6m 0.40% Reduced -49.7k -49,659
84 One Madison Group LLC 4.48% of their portfolio NEW YORK, NY 105,000105.0k $38.8m $38.8m 4.48% Added +15.0k +15,000
85 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 104,389104.4k $38.6m $38.6m 0.05% Added +103.6k +103,571
86 GROUPAMA ASSET MANAGMENT 0.48% of their portfolio PARIS, I0 103,838103.8k $33.1m $33.1m 0.48% Added +13.2k +13,217
87 Qube Research & Technologies Ltd 0.05% of their portfolio LONDON, X0 101,345101.3k $37.8m $37.8m 0.05% Added +51.5k +51,479
88 FIL Ltd 0.03% of their portfolio HAMILTON, D0 91,24591.2k $34.2m $34.2m 0.03% Reduced -251.5k -251,482
89 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 89,32889.3k $33.4m $33.4m 0.01% Reduced -3.3k -3,302
90 THORNBURG INVESTMENT MANAGEMENT INC 0.41% of their portfolio SANTA FE, NM 88,10988.1k $32.6m $32.6m 0.41% Reduced -826 -826
91 Generali Asset Management SPA SGR 0.56% of their portfolio TRIESTE, L6 86,38986.4k $27.5m $27.5m 0.56% Added +30.7k +30,699
92 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 86,01786.0k $31.8m $31.8m 0.01% Added +5.9k +5,888
93 FLOSSBACH VON STORCH SE 0.13% of their portfolio COLOGNE, 2M 84,71384.7k $31.7m $31.7m 0.13% Added +1.6k +1,607
94 Interval Partners, LP 0.73% of their portfolio NEW YORK, NY 83,91283.9k $31.0m $31.0m 0.73% Reduced -48.6k -48,561
95 RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio NEW YORK, NY 79,10879.1k $29.6m $29.6m 0.05% Added +61.4k +61,382
96 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 76,69176.7k $28.3m $28.3m 0.00% Reduced -221.5k -221,528
97 AustralianSuper Pty Ltd 0.13% of their portfolio MELBOURNE, C3 72,99173.0k $27.3m $27.3m 0.13% Added +40.5k +40,500
98 JENNISON ASSOCIATES LLC 0.02% of their portfolio NEW YORK, NY 70,99371.0k $26.2m $26.2m 0.02% Reduced -100.3k -100,350
99 Zurcher Kantonalbank (Zurich Cantonalbank) 0.06% of their portfolio ZURICH, V8 69,75969.8k $26.1m $26.1m 0.06% Added +8.2k +8,243
100 SALT Holding Corp. 19.47% of their portfolio WILMINGTON, DE 66,77266.8k $24.7m $24.7m 19.47% Added +24.3k +24,272