Ferrari is not owned by one person or one family. It is Ferrari N.V., a publicly traded company with a few large reference shareholders and a broad base of public investors. The largest reported holder is Exor, which is controlled by Giovanni Agnelli B.V., so the Agnelli family has an indirect stake through that chain. Piero Ferrari, son of Enzo Ferrari, keeps a significant position through Trust Piero Ferrari.
Ownership percentages for Ferrari are only meaningful when you know two things: whether they measure economic shares or voting power, and the date they were reported. The sections below separate those measures and show where each figure comes from.
Who are the main shareholders?
The table below uses the shareholder breakdown in Ferrari N.V.’s 2025 Annual Report / Form 20-F, which is dated to February 4, 2026, plus Exor’s own company page, which reports a later June 30, 2026 snapshot. The two sets of figures come from different dates and should not be added together or treated as one table.
| Holder | Share of common shares | Share of voting power | As-of date | Source |
|---|---|---|---|---|
| Exor | 21.33% (37,768,613 common shares) | 32.32% | February 4, 2026 | Ferrari N.V. 2025 Annual Report / Form 20-F |
| Trust Piero Ferrari | 10.67% (18,894,295 common shares) | Not stated for the trust itself; Piero Ferrari holds the usufruct and voting rights corresponding to about 16.17% | February 4, 2026 | Ferrari N.V. 2025 Annual Report / Form 20-F |
| BlackRock | 3.80% | 3.38% | February 4, 2026 (annual report table) | Ferrari N.V. 2025 Annual Report / Form 20-F |
| Other public shareholders (combined) | 64.20% | 48.13% | February 4, 2026 | Ferrari N.V. 2025 Annual Report / Form 20-F |
| Exor (economic and voting rights) | 19.5% economic rights | 32.5% | June 30, 2026 | Exor N.V. company page |
Exor: the largest reported holder
Exor is the investment company of the Agnelli family’s holding structure. In the annual report’s February 2026 table it is the largest single line by common shares and by voting power. Its newer June 30, 2026 figure is reported separately by Exor, and the rights measures differ from the February table because they come from a different date and presentation.
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Trust Piero Ferrari and Piero Ferrari
The trust holds the common shares, while Piero Ferrari holds the usufruct over those shares, including the right to exercise their voting rights. That is why the trust’s share count and Piero Ferrari’s voting share are reported as different measures. Read them as two facts about the same block of shares, not as two separate holdings.
BlackRock and other public shareholders
The annual report lists BlackRock separately and groups the remaining public shareholders together. The annual report also cites a separate January 15, 2026 disclosure for BlackRock made to the Dutch regulator, the AFM, which uses different figures and denominators. If you quote a BlackRock percentage, give its date and state whether it comes from the annual report table or the AFM disclosure.
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Why ownership and voting power differ
Ferrari operates a loyalty voting program that rewards shareholders who keep their shares over time by granting special voting shares. Exor and Trust Piero Ferrari both participate, so their voting power can exceed their economic stake. That is the reason the same holder can show one percentage for common shares and a higher percentage for voting power.
The practical rule is simple: economic shareholding tells you what share of the company’s shares a holder owns, and voting power tells you how much say the holder has at shareholder meetings. Neither figure converts directly into a share of the company’s market value.
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Is Ferrari owned by the Agnelli family?
Not directly. The Agnelli link runs through Exor. Exor’s ownership page states that Giovanni Agnelli B.V. held 54.94% of Exor’s economic rights and 83.97% of its voting rights at December 31, 2025, and that the private company’s shares are held by descendants of Giovanni Agnelli. So the family controls Exor, and Exor is Ferrari’s largest reported shareholder.
That chain does not make the Agnelli family the sole owner of Ferrari. Ferrari has public shareholders, a separate major shareholder in Trust Piero Ferrari, and institutional holders such as BlackRock.
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What is the 2026 shareholder agreement?
On January 3, 2026, Exor announced a renewed shareholder agreement with Piero Ferrari and Trust Piero Ferrari. Exor’s statement describes it this way: “The agreement provides for consultation arrangements designed to allow the parties to coordinate their positions on matters to be resolved at general meetings of Ferrari shareholders and sets out reciprocal rights of first offer in case of transfers of Ferrari shares to third parties.”
In practical terms, the agreement lets the parties consult before shareholder votes and gives each side a first right to buy if the other tries to sell its Ferrari shares to an outsider. It takes effect when the previous agreement expires, runs for three years until January 4, 2029, and renews automatically for another three years unless terminated under its terms. It is a coordination arrangement, not a merger or transfer of ownership, and it does not on its own give either party sole control of Ferrari.
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Is Ferrari an Italian or a Dutch company?
Both descriptions are accurate, for different things. Ferrari N.V. is a holding company under Dutch law, with its official seat in Amsterdam in the Netherlands. Its corporate address is in Maranello, Italy, where the company’s manufacturing heritage and operations are based. The legal seat is a matter of corporate structure; it does not change where the cars are built or the company’s Italian identity.
What about Fiat, Chrysler and Stellantis?
Ferrari’s annual report describes Stellantis as its former largest shareholder through Fiat Chrysler Automobiles, the predecessor group. That is a historical relationship. Ferrari is not currently owned by Stellantis, and the shareholder table above does not list it as a current holder.
What this means for a personal-finance reader
Ownership tells you who has influence, not whether a share price will rise or fall. Ferrari’s shares are publicly traded, so the price depends on market trading. The filings above give ownership percentages but not a current share price or market capitalization, so check a dated market-data source before you draw any valuation conclusion. The major shareholders’ stakes, including the 2026 agreement, matter most when you are assessing governance: who is likely to win votes at shareholder meetings and whether a large block could be sold to a third party.
How to check the latest figures yourself
- Open Ferrari N.V.’s investor relations section and find the most recent annual report or Form 20-F.
- Go to the shareholder ownership table and note the as-of date printed beside it.
- Record the measure for each figure: common shares, economic rights, or voting power.
- Check Exor’s ferrari-related company page for its own, separately dated rights figures.
- If you need a regulatory view of a specific holder, check the AFM register for Dutch disclosures, and compare the date and denominator with the annual report.
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Frequently Asked Questions
Can I buy Ferrari shares as an individual investor?
Ferrari N.V. is publicly traded, so individual investors can buy its shares through a brokerage account, subject to the broker’s market access. Ownership percentages do not establish a price, and the filings used here do not provide a current share price or market capitalization. Use a dated market-data source before making a decision.
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Where should I look if the ownership figures change?
Ferrari’s annual report and Form 20-F are the primary reference for the February 2026 table. Exor’s company page is the reference for its own rights figures. Shareholder positions can change after either date, so compare the as-of date of any figure you read against the most recent filing.
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