Bell Global Equities Fund, managed by Bell Asset Management, released its May investor update. A copy of the letter can be downloaded here. The global equity market continued its rally in May, driven by accelerating AI infrastructure spending and a stronger-than-expected earnings season. The Fund (Platform Class) returned 2.1%, underperforming the MSCI World ex-Australia Index’s 4.5% return in May 2026. Information Technology holdings drove the positive return in the month, along with modest contributions from Health Care and Consumer Discretionary exposures. However, the portfolio underperformed compared to the benchmark, primarily due to the high returns from the benchmark’s mega-cap technology and semiconductor stocks. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its May 2026 investor letter, Bell Global Equities Fund highlighted Ferrari N.V. (NYSE:RACE) as a newly added position. Ferrari N.V. (NYSE:RACE) is a leading luxury performance sports car manufacturer. On July 8, 2026, Ferrari N.V. (NYSE:RACE) closed at $375.03 per share, reflecting a market capitalization of $65.67 billion. Ferrari N.V. (NYSE:RACE) posted a one-month return of -7.95%, while its shares gained 19.46% over the past 52 weeks.
Bell Global Equities Fund stated the following regarding Ferrari N.V. (NYSE:RACE) in its May 2026 investor update:
“Another holding established during the month was Ferrari N.V. (NYSE:RACE), the iconic Italian luxury sports car manufacturer. The investment case is relatively straightforward; an irreplaceable, supply constrained brand managed with deep conservatism, underwriting long-term compounded earnings growth. With production deliberately limited to approximately 14,000 cars per year, the order book already stretches through 2027, providing exceptional earnings visibility, while the company’s strong pricing power insulates margins from trade tensions and inflation. Ferrari’s rare combination of predictability and high profitability seldom goes on sale, and the recent retracement of approximately 40% from its highs created an attractive entry point, which we took advantage of to initiate the position.”
Ferrari N.V. (NYSE:RACE) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 43 hedge fund portfolios held Ferrari N.V. (NYSE:RACE) at the end of the first quarter, compared to 44 in the previous quarter. While we acknowledge the risk and potential of Ferrari N.V. (NYSE:RACE) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Ferrari N.V. (NYSE:RACE) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Ferrari N.V. (NYSE:RACE) and shared the list of best EV stocks to invest in according to hedge funds. In addition, please check out our hedge fund investor letters Q2 2026 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.
