Norwegian Cruise Line
NCLH
643 hedge funds and large institutions have $6.71B invested in Norwegian Cruise Line in 2025 Q1 according to their latest regulatory filings, with 97 funds opening new positions, 235 increasing their positions, 190 reducing their positions, and 113 closing their positions.
24% more repeat investments, than reductions
Existing positions increased: 235 | Existing positions reduced: 190
0.92% more ownership
Funds ownership: 79.52% → 80.44% (+0.92%)
4% less funds holding
Funds holding: 672 → 643 (-29)
14% less first-time investments, than exits
New positions opened: 97 | Existing positions closed: 113
26% less capital invested
Capital invested by funds: $9B → $6.71B (-$2.3B)
34% less call options, than puts
Call options by funds: $304M | Put options by funds: $462M
58% less funds holding in top 10
Funds holding in top 10: 12 → 5 (-7)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AI
Ariel Investments
Chicago,
Illinois
|
+$122M |
| 2 |
Morgan Stanley
New York
|
+$108M |
| 3 |
HP
Hound Partners
New York
|
+$95.6M |
| 4 |
5NCM
59 North Capital Management
Houston,
Texas
|
+$88.8M |
| 5 |
Marshall Wace
London,
United Kingdom
|
+$61.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
-$120M |
| 2 |
Two Sigma Advisers
New York
|
-$99.3M |
| 3 |
Millennium Management
New York
|
-$90.6M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$87.6M |
| 5 |
Voloridge Investment Management
Jupiter,
Florida
|
-$86.8M |
NCLH Hedge Fund Activity: Q1 2025 in Review
643 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Norwegian Cruise Line (NCLH) for Q1 2025, worth a combined $6.71B — down 26% from $9B a quarter earlier.
Sellers outnumbered buyers: 113 funds closed out of NCLH and 97 opened new positions — a net loss of 16 holders — while 190 trimmed existing stakes and 235 added.
The largest buyer was Ariel Investments, adding an estimated $122M. The largest seller was Two Sigma Investments, cutting an estimated $120M.
- 643 institutional investors held Norwegian Cruise Line (NCLH) as of Q1 2025, down from 672 in Q4 2024.
- Funds reported $6.71B of Norwegian Cruise Line stock for Q1 2025, down 26% quarter-over-quarter.
- 97 funds opened new Norwegian Cruise Line positions in Q1 2025 and 113 closed out, a net change of -16 holders.
- The largest Norwegian Cruise Line buyer in Q1 2025 was Ariel Investments, an estimated $122M added.
- The largest Norwegian Cruise Line seller in Q1 2025 was Two Sigma Investments, an estimated $120M sold.
Based on aggregated 13F filings for Q1 2025.