Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Norwegian Cruise Line Hldgs (NCLH)

631 + Investors. Track Smart Money conviction in NCLH. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -6
Streak
1Q ▼
Buyers last Q
51%

Smart Money Signals — NCLH

Based on 639 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their NCLH positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (96% of max)

96% of all-time peak
639 hedge funds hold NCLH right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding NCLH is almost the same as a year ago (-1 funds, 0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 51% buying

325 buying313 selling
Last quarter: 325 funds bought or added vs 313 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~109 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 83 → 106 → 113 → 109. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

61% of holders stayed for 2+ years

■ 61% conviction (2yr+) ■ 21% medium ■ 18% new
391 out of 639 hedge funds have held NCLH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +12%, value -11%

Value
-10%
Shares
+11%
Last quarter: funds added +12% more shares while total portfolio value only changed -11%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

97 → 83 → 106 → 113 → 109 new funds/Q
New funds entering each quarter: 83 → 106 → 113 → 109. A growing number of institutions are discovering NCLH each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 68% veterans vs 20% newcomers

■ 68% veterans ■ 12% 1-2yr ■ 20% new
Entry-cohort mix of 688 holders: 467 (68%) are 2+ year veterans, 80 entered 1–2 years ago, and 141 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 56% AUM from top-100 funds

56% from top-100 AUM funds
63 of 630 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in NCLH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.3
out of 10
Low Exit Risk
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NCLH

In 2026 Q1, 325 hedge funds were net buyers of NCLH (109 opened a new position, 216 added to an existing one), while 313 reduced or exited (198 trimmed, 115 sold completely) — a 51% buyer ratio, indicating a slight buying edge. 56% of total institutional value in NCLH is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -6 funds (more exits than new entries). Total institutional holders: 639.

Hedge Fund Ownership: NCLH

How many hedge funds hold NCLH — quarterly history vs. share price
Quarterly hedge fund ownership of NCLH vs. share price

Market Analysis: NCLH

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NCLH

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Norwegian Cruise Line Hldgs (NCLH) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NCLH has moved relative to its sector benchmark (XLY) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 45d ago
NCLH
-9.7%
XLY
+0.8%

NCLH outperformed XLY by -10.5% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 0d ago
NCLH
+0.0%
XLY
+0.0%

Since the filing became public, NCLH outperformed XLY by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

41 top-rated funds 2 high-conviction
Consensus
7.0
/ 10
breadth
×
Elite
3.1
/ 10
conviction
Hedge Fund Positioning: NCLH
2026 Q2 Stats Unlock in 5 days 631 + Investors

Track Smart Money conviction in NCLH. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 631 644 -2.02%
13F Shares 469M 423M 10.95%
Total Value $8.37B $9.46B -11.58%
New Positions 105 113 -8
Increased Positions 200 226 -26
Closed Positions 118 106 +12
Reduced Positions 184 176 +8
Total Calls 32 28 14.29%
Total Puts 26 34 -23.53%
PUT/CALL Ratio 0.81 1.21 Neutral

Statistics: NCLH

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Valuation Measures Data as of: --

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Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q2)

631 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NCLH. Verified SEC 13F-HR filings.

QUARTER:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 NCLH holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Columbus Hill Capital Management, L.P. 5.47% 2,660,601 $56.2M
2 Patient Capital Management, LLC 4.17% 6,029,642 $127.3M
3 Mizuho Markets Americas LLC 3.77% 11,385,000 $240.3M
4 Kettle Hill Capital Management, LLC 3.63% 699,167 $14.8M
5 Nearwater Capital Markets, Ltd 3.45% 9,465,000 $199.8M
6 Ariel Investments, LLC 3.25% 15,430,947 $325.7M
7 M.E. Allison & CO., INC. 1.71% 140,510 $3.0M
8 Campbell Capital Management Inc 1.59% 210,000 $4.4M
9 Savoir Faire Capital Management, L.P. 1.53% 116,885 $2.5M
10 Nordwand Advisors, LLC 1.39% 428,355 $9.0M
11 Orvieto Partners, L.P. 1.37% 100,000 $2.1M
12 Lombard Odier Asset Management (USA) Corp 1.16% 400,000 $8.4M
13 Unifi Asset Management LP 0.93% 61,105 $1.4M
14 Future Fund LLC 0.86% 142,881 $3.0M
15 Oceanic Investment Management LTD 0.68% 25,032 $528K
16 Vaughan Nelson Investment Management, L.P. 0.61% 3,243,024 $68.5M
17 Capitolis Liquid Global Markets LLC 0.59% 6,463,695 $136.4M
18 Redwood Capital Management, LLC 0.59% 260,000 $5.5M
19 Richard W. Paul & Associates, LLC 0.49% 76,116 $1.6M
20 Qsemble Capital Management, LP 0.45% 166,545 $3.5M
21 ING Groep NV 0.44% 4,309,048 $91.0M
22 Crawford Fund Management, LLC 0.38% 117,000 $2.5M
23 ANTIPODES PARTNERS Ltd 0.32% 824,018 $17.4M
24 Sciencast Management LP 0.31% 70,518 $1.5M
25 New England Research & Management, Inc. 0.29% 35,854 $757K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Norwegian Cruise Line Hldgs (NCLH)

What does the Smart Money Trend signal show for NCLH?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their NCLH positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for NCLH?

Slight buying edge — 51% buying: Last quarter: 325 funds bought or added vs 313 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for NCLH holders?

Elite ownership — 56% AUM from top-100 funds: 63 of 630 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in NCLH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NCLH?

61% of holders stayed for 2+ years: 391 out of 639 hedge funds have held NCLH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Norwegian Cruise Line Hldgs (NCLH) following the 2026 Q2 hedge fund 13F filings?

As of today, NCLH has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the XLY sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), NCLH has gained -9.7% vs +0.8% for XLY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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