Norwegian Cruise Line
NCLH
640 hedge funds and large institutions have $8.23B invested in Norwegian Cruise Line in 2026 Q1 according to their latest regulatory filings, with 105 funds opening new positions, 206 increasing their positions, 180 reducing their positions, and 97 closing their positions.
14% more repeat investments, than reductions
Existing positions increased: 206 | Existing positions reduced: 180
11.41% more ownership
Funds ownership: 85.2% → 96.61% (+11%)
8% more first-time investments, than exits
New positions opened: 105 | Existing positions closed: 97
7% more call options, than puts
Call options by funds: $409M | Put options by funds: $383M
1% less funds holding
Funds holding: 646 → 640 (-6)
5% less capital invested
Capital invested by funds: $8.66B → $8.23B (-$430M)
17% less funds holding in top 10
Funds holding in top 10: 12 → 10 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$398M |
| 2 |
Barclays
London,
United Kingdom
|
+$296M |
| 3 |
EIM
Elliott Investment Management
West Palm Beach,
Florida
|
+$288M |
| 4 |
Goldman Sachs
New York
|
+$230M |
| 5 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$160M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital International Investors
Los Angeles,
California
|
-$572M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
-$128M |
| 3 |
Balyasny Asset Management
Chicago,
Illinois
|
-$94.2M |
| 4 |
BlackRock
New York
|
-$88.5M |
| 5 |
Ameriprise
Minneapolis,
Minnesota
|
-$75.5M |
NCLH Hedge Fund Activity: Q1 2026 in Review
640 of the 8,173 institutional investors tracked by Wall St. Rank reported a position in Norwegian Cruise Line (NCLH) for Q1 2026, worth a combined $8.23B — down 5% from $8.66B a quarter earlier.
Buyers outnumbered sellers: 105 funds opened new NCLH positions and 97 closed out — a net gain of 8 holders — while 206 added to existing stakes and 180 trimmed.
The largest buyer was UBS Group, adding an estimated $398M. The largest seller was Capital International Investors, cutting an estimated $572M.
- 640 institutional investors held Norwegian Cruise Line (NCLH) as of Q1 2026, down from 646 in Q4 2025.
- Funds reported $8.23B of Norwegian Cruise Line stock for Q1 2026, down 5% quarter-over-quarter.
- 105 funds opened new Norwegian Cruise Line positions in Q1 2026 and 97 closed out, a net change of +8 holders.
- The largest Norwegian Cruise Line buyer in Q1 2026 was UBS Group, an estimated $398M added.
- The largest Norwegian Cruise Line seller in Q1 2026 was Capital International Investors, an estimated $572M sold.
Based on aggregated 13F filings for Q1 2026.