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Norwegian Cruise Line
NCLH

427 hedge funds and large institutions have $10.6B invested in Norwegian Cruise Line in 2019 Q3 according to their latest regulatory filings, with 44 funds opening new positions, 148 increasing their positions, 178 reducing their positions, and 61 closing their positions.

New
Increased
Maintained
Reduced
Closed

6% more call options, than puts

Call options by funds: $33.2M | Put options by funds: $31.2M

0.35% less ownership

Funds ownership: 95.69% → 95.34% (-0.35%)

3% less capital invested

Capital invested by funds: $11B → $10.6B (-$378M)

4% less funds holding

Funds holding: 445 → 427 (-18)

14% less funds holding in top 10

Funds holding in top 10: 7 → 6 (-1)

17% less repeat investments, than reductions

Existing positions increased: 148 | Existing positions reduced: 178

28% less first-time investments, than exits

New positions opened: 44 | Existing positions closed: 61

Holders
427
Holders Change
-18
Holders Change %
-4.04%
% of All Funds
9.36%
Holding in Top 10
6
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-14.29%
% of All Funds
0.13%
New
44
Increased
148
Reduced
178
Closed
61
Calls
$33.2M
Puts
$31.2M
Net Calls
+$2.01M
Net Calls Change
-$20M

Top Buyers

1
AQR Capital Management
AQR Capital Management
Connecticut
+$131M
2
Janus Henderson Group
Janus Henderson Group
United Kingdom
+$118M
3
Renaissance Technologies
Renaissance Technologies
New York
+$92M
4
Morgan Stanley
Morgan Stanley
New York
+$50M
5
Invesco
Invesco
Georgia
+$41.5M

Top Sellers

1
USAA
United Services Automobile Association
Texas
-$99M
2
HVCM
HG Vora Capital Management
New York
-$68.5M
3
VOYA Investment Management
VOYA Investment Management
Georgia
-$67.2M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$55.4M
5
Ameriprise
Ameriprise
Minnesota
-$53M
Name Holding Trade Value Shares
Change 		Change in
Stake
GHCM
176
Glen Harbor Capital Management
California
$2.76M +$1.28M +25,184 +90%
ARTA
177
A.R.T. Advisors
New York
$2.75M +$2.7M +53,200 New
BCIM
178
British Columbia Investment Management
British Columbia, Canada
$2.73M -$830K -16,367 -24%
Fidelity Investments
179
Fidelity Investments
Massachusetts
$2.73M -$3.69M -72,841 -58%
IPW
180
Inlet Private Wealth
Florida
$2.72M +$2.66M +52,475 New
SOMRS
181
State of Michigan Retirement System
Michigan
$2.68M +$10.1K +200 +0.4%
Caisse de Depot et Placement du Quebec (CDPQ)
182
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$2.61M +$81.2K +1,600 +3%
JG
183
Jefferies Group
New York
$2.46M +$1.05M +20,667 +77%
BOTW
184
Bank of the West
California
$2.42M +$37.4K +737 +2%
BS
185
Banco Santander
Spain
$2.42M -$775K -15,278 -25%
Envestnet Asset Management
186
Envestnet Asset Management
Illinois
$2.41M -$22K -434 -0.9%
XK
187
Xact Kapitalforvaltning
Sweden
$2.36M +$291K +5,746 +14%
Bank of Nova Scotia
188
Bank of Nova Scotia
Ontario, Canada
$2.24M -$244K -4,805 -10%
PI
189
PineBridge Investments
New York
$2.2M +$1.84M +36,322 +592%
WBC
190
Westpac Banking Corp
Australia
$2.19M +$875K +17,243 +69%
QI
191
QS Investors
New York
$2.17M – – –
Public Sector Pension Investment Board (PSP Investments)
192
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$2.16M +$689K +13,587 +48%
MCM
193
Mork Capital Management
California
$2.13M – – –
AIC
194
Aurora Investment Counsel
Georgia
$2.12M +$97.5K +1,923 +5%
CC
195
Cipher Capital
New York
$2.12M +$2.08M +41,029 New
URS
196
Utah Retirement Systems
Utah
$2.11M – – –
CIP
197
Chartwell Investment Partners
Pennsylvania
$2.1M -$61K -1,203 -3%
CCM
198
Concourse Capital Management
Georgia
$2.1M +$2.05M +40,470 New
Skandinaviska Enskilda Banken (SEB)
199
Skandinaviska Enskilda Banken (SEB)
Sweden
$2.09M +$2.05M +40,359 New
DekaBank Deutsche Girozentrale
200
DekaBank Deutsche Girozentrale
Germany
$2.08M +$598K +11,791 +42%
6 7
8
9 10

NCLH Hedge Fund Activity: Q3 2019 in Review

427 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Norwegian Cruise Line (NCLH) for Q3 2019, worth a combined $10.6B — down 3.4% from $11B a quarter earlier.

Sellers outnumbered buyers: 61 funds closed out of NCLH and 44 opened new positions — a net loss of 17 holders — while 178 trimmed existing stakes and 148 added.

The largest buyer was AQR Capital Management, adding an estimated $131M. The largest seller was United Services Automobile Association, cutting an estimated $99M.

  • 427 institutional investors held Norwegian Cruise Line (NCLH) as of Q3 2019, down from 445 in Q2 2019.
  • Funds reported $10.6B of Norwegian Cruise Line stock for Q3 2019, down 3.4% quarter-over-quarter.
  • 44 funds opened new Norwegian Cruise Line positions in Q3 2019 and 61 closed out, a net change of -17 holders.
  • The largest Norwegian Cruise Line buyer in Q3 2019 was AQR Capital Management, an estimated $131M added.
  • The largest Norwegian Cruise Line seller in Q3 2019 was United Services Automobile Association, an estimated $99M sold.

Based on aggregated 13F filings for Q3 2019.