Norwegian Cruise Line
NCLH
616 hedge funds and large institutions have $7.19B invested in Norwegian Cruise Line in 2025 Q2 according to their latest regulatory filings, with 81 funds opening new positions, 227 increasing their positions, 182 reducing their positions, and 101 closing their positions.
60% more funds holding in top 10
Funds holding in top 10: 5 → 8 (+3)
25% more repeat investments, than reductions
Existing positions increased: 227 | Existing positions reduced: 182
7% more capital invested
Capital invested by funds: $6.71B → $7.19B (+$488M)
1.06% less ownership
Funds ownership: 80.44% → 79.38% (-1.1%)
4% less funds holding
Funds holding: 643 → 616 (-27)
14% less call options, than puts
Call options by funds: $416M | Put options by funds: $483M
20% less first-time investments, than exits
New positions opened: 81 | Existing positions closed: 101
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$61.8M |
| 2 |
AI
Ariel Investments
Chicago,
Illinois
|
+$58.8M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$57.1M |
| 4 |
Millennium Management
New York
|
+$56.1M |
| 5 |
IP
Interval Partners
New York
|
+$52.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$140M |
| 2 |
Capital International Investors
Los Angeles,
California
|
-$64.6M |
| 3 |
Morgan Stanley
New York
|
-$61.4M |
| 4 |
Renaissance Technologies
New York
|
-$59.9M |
| 5 |
Point72 Asset Management
Stamford,
Connecticut
|
-$37.9M |
NCLH Hedge Fund Activity: Q2 2025 in Review
616 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Norwegian Cruise Line (NCLH) for Q2 2025, worth a combined $7.19B — up 7.3% from $6.71B a quarter earlier.
Sellers outnumbered buyers: 101 funds closed out of NCLH and 81 opened new positions — a net loss of 20 holders — while 182 trimmed existing stakes and 227 added.
The largest buyer was Citadel Advisors, adding an estimated $61.8M. The largest seller was Baillie Gifford & Co, exiting entirely with an estimated $140M sold.
- 616 institutional investors held Norwegian Cruise Line (NCLH) as of Q2 2025, down from 643 in Q1 2025.
- Funds reported $7.19B of Norwegian Cruise Line stock for Q2 2025, up 7.3% quarter-over-quarter.
- 81 funds opened new Norwegian Cruise Line positions in Q2 2025 and 101 closed out, a net change of -20 holders.
- The largest Norwegian Cruise Line buyer in Q2 2025 was Citadel Advisors, an estimated $61.8M added.
- The largest Norwegian Cruise Line seller in Q2 2025 was Baillie Gifford & Co, an estimated $140M sold.
Based on aggregated 13F filings for Q2 2025.