Dark Forest Capital Management’s Norwegian Cruise Line NCLH Stock Holding History

Dark Forest Capital Management’s Portfolio NCLH Stock Details NCLH Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-16,198	Closed	-$328K	–	1373
2025 Q2	$328K	Sell	16,198 -33,771	-68%	-$604K	0.01%	1014
2025 Q1	$947K	Buy	49,969 +26,448	+112%	+$637K	0.04%	715
2024 Q4	$605K	Sell	23,521 -5,979	-20%	-$151K	0.09%	355
2024 Q3	$605K	Buy	+29,500	New	+$536K	0.08%	308
2023 Q2	–	Sell	-1,346	Closed	-$18.1K	–	1268
2023 Q1	$18.1K	Buy	1,346 +586	+77%	+$8.77K	﹤0.01%	979
2022 Q4	$9.3K	Buy	+760	New	+$11.4K	﹤0.01%	763
2022 Q2	–	Sell	-249	Closed	-$5K	–	1207
2022 Q1	$5K	Buy	+249	New	+$5.09K	﹤0.01%	1103
2021 Q4	–	Sell	-5,700	Closed	-$152K	–	1666
2021 Q3	$152K	Buy	5,700 +579	+11%	+$14.7K	0.05%	287
2021 Q2	$151K	Buy	+5,121	New	+$154K	0.07%	228

Other funds holding NCLH

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Capital International Investors Los Angeles, California $484B AUM 34.9% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

State Street Boston, Massachusetts $3.38T AUM 44.17% 1-Year Est. Return

Ariel Investments Chicago, Illinois $10B AUM 42.59% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Invesco Atlanta, Georgia $1.26T AUM 61.52% 1-Year Est. Return

Citadel Advisors Miami, Florida $875B AUM 40.89% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

Dark Forest Capital Management's NCLH Position: Q3 2025 in Review

Dark Forest Capital Management sold out of Norwegian Cruise Line (NCLH) in Q3 2025, closing a stake of 16,198 shares — an estimated $328K sold.

Dark Forest Capital Management first reported a position in NCLH in Q2 2021 and held it in 9 quarters. The position peaked at $947K in Q1 2025. 645 funds tracked by Wall St. Rank hold NCLH as of Q3 2025.

Dark Forest Capital Management reported no remaining Norwegian Cruise Line position as of Q3 2025 after selling out during the quarter.
Dark Forest Capital Management sold 16,198 Norwegian Cruise Line shares in Q3 2025, an estimated $328K.
Dark Forest Capital Management first reported a position in Norwegian Cruise Line in Q2 2021 and held it in 9 quarters.
Dark Forest Capital Management's Norwegian Cruise Line position peaked at $947K in Q1 2025.
645 funds tracked by Wall St. Rank held Norwegian Cruise Line as of Q3 2025.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.