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Norwegian Cruise Line
NCLH

399 hedge funds and large institutions have $1.71B invested in Norwegian Cruise Line in 2020 Q1 according to their latest regulatory filings, with 112 funds opening new positions, 132 increasing their positions, 121 reducing their positions, and 160 closing their positions.

New
Increased
Maintained
Reduced
Closed

9% more repeat investments, than reductions

Existing positions increased: 132 | Existing positions reduced: 121

12% less funds holding

Funds holding: 454 → 399 (-55)

24.23% less ownership

Funds ownership: 96.34% → 72.11% (-24%)

30% less first-time investments, than exits

New positions opened: 112 | Existing positions closed: 160

35% less call options, than puts

Call options by funds: $43.3M | Put options by funds: $67.1M

83% less funds holding in top 10

Funds holding in top 10: 6 → 1 (-5)

86% less capital invested

Capital invested by funds: $12B → $1.71B (-$10.3B)

Holders
399
Holders Change
-55
Holders Change %
-12.11%
% of All Funds
8.79%
Holding in Top 10
1
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-83.33%
% of All Funds
0.02%
New
112
Increased
132
Reduced
121
Closed
160
Calls
$43.3M
Puts
$67.1M
Net Calls
-$23.8M
Net Calls Change
-$10.7M

Top Buyers

1
CCM
Causeway Capital Management
California
+$267M
2
LSCM
Light Street Capital Management
California
+$114M
3
CB
Cooke & Bieler
Pennsylvania
+$91.9M
4
Wells Fargo
Wells Fargo
California
+$80.3M
5
PIM
Platinum Investment Management
Australia
+$61.5M

Top Sellers

1
Capital World Investors
Capital World Investors
California
-$509M
2
Janus Henderson Group
Janus Henderson Group
United Kingdom
-$474M
3
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$404M
4
Renaissance Technologies
Renaissance Technologies
New York
-$150M
5
AQR Capital Management
AQR Capital Management
Connecticut
-$120M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$267M +$27.2M +677,324 +3%
BlackRock
2
BlackRock
New York
$155M -$3.22M -80,160 -0.6%
Capital World Investors
3
Capital World Investors
California
$132M -$509M -12,664,239 -51%
State Street
4
State Street
Massachusetts
$99.8M +$2.32M +57,743 +0.6%
T. Rowe Price Associates
5
T. Rowe Price Associates
Maryland
$83.1M -$404M -10,042,619 -57%
CCM
6
Causeway Capital Management
California
$72.7M +$267M +6,630,617 New
Wellington Management Group
7
Wellington Management Group
Massachusetts
$49.7M -$28M -696,401 -13%
Primecap Management
8
Primecap Management
California
$47.8M -$38.4M -954,850 -18%
Geode Capital Management
9
Geode Capital Management
Massachusetts
$44.4M +$20.6M +511,351 +14%
Wells Fargo
10
Wells Fargo
California
$44.2M +$80.3M +1,996,084 +98%
Invesco
11
Invesco
Georgia
$43.7M -$89.1M -2,215,646 -36%
Dimensional Fund Advisors
12
Dimensional Fund Advisors
Texas
$41.3M +$19.3M +479,924 +15%
LSCM
13
Light Street Capital Management
California
$31M +$114M +2,827,700 New
GT
14
Glenmede Trust
Pennsylvania
$28.7M – – –
Bank of New York Mellon
15
Bank of New York Mellon
New York
$28.3M -$8.62M -214,489 -8%
Northern Trust
16
Northern Trust
Illinois
$25.3M -$1.36M -33,868 -1%
CB
17
Cooke & Bieler
Pennsylvania
$25.1M +$91.9M +2,286,600 New
Norges Bank
18
Norges Bank
Norway
$23.7M -$4.77M -118,611 -5%
AQR Capital Management
19
AQR Capital Management
Connecticut
$23.1M -$120M -2,987,994 -59%
PIM
20
Platinum Investment Management
Australia
$16.8M +$61.5M +1,529,733 New
Renaissance Technologies
21
Renaissance Technologies
New York
$14.9M -$150M -3,733,649 -73%
Legal & General Group
22
Legal & General Group
United Kingdom
$14.1M -$2.3M -57,205 -4%
Federated Hermes
23
Federated Hermes
Pennsylvania
$12.5M +$45.2M +1,124,617 +8,727%
Goldman Sachs
24
Goldman Sachs
New York
$12.3M -$8.3M -206,357 -16%
Prudential Financial
25
Prudential Financial
New Jersey
$12.3M +$32.4M +805,410 +257%
1
2 3 4 5

NCLH Hedge Fund Activity: Q1 2020 in Review

399 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Norwegian Cruise Line (NCLH) for Q1 2020, worth a combined $1.71B — down 86% from $12B a quarter earlier.

Sellers outnumbered buyers: 160 funds closed out of NCLH and 112 opened new positions — a net loss of 48 holders — while 121 trimmed existing stakes and 132 added.

The largest buyer was Causeway Capital Management, opening a new position worth an estimated $267M. The largest seller was Capital World Investors, cutting an estimated $509M.

  • 399 institutional investors held Norwegian Cruise Line (NCLH) as of Q1 2020, down from 454 in Q4 2019.
  • Funds reported $1.71B of Norwegian Cruise Line stock for Q1 2020, down 86% quarter-over-quarter.
  • 112 funds opened new Norwegian Cruise Line positions in Q1 2020 and 160 closed out, a net change of -48 holders.
  • The largest Norwegian Cruise Line buyer in Q1 2020 was Causeway Capital Management, an estimated $267M added.
  • The largest Norwegian Cruise Line seller in Q1 2020 was Capital World Investors, an estimated $509M sold.

Based on aggregated 13F filings for Q1 2020.