Vault-13

NCL CORP LTD NCLH 6 05.15.24

NOTE 6.000% 5/1 · US DOMESTIC · CUSIP 62886HAT8

16 institutional holders -2 vs Q1 2023
30,206,12430.2m shares reported held*
$272.0mreported value*
2 new 2 added 1 reduced 4 sold out net bought ≈ $3.5m (+11.9m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $9.00.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 24Q4 22: 19Q1 23: 18Q2 23: 1616Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202224
Q4 202219
Q1 202318
Q2 202316

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
10010Q4 22: 2 bought or addedQ4 22: 8 cut or sold outQ4 22Q1 23: 4 bought or addedQ1 23: 6 cut or sold outQ1 23Q2 23: 4 bought or addedQ2 23: 5 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202228
Q1 202346
Q2 202345

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 22 calls: $1.7mQ3 22 puts: $908.8kQ3 22P/C 0.53Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $0Q2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$1.7m$908.8k0.53
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$0—

Biggest buyers

MIZUHO SECURITIES USA LLC New +11,900,000+11.9m
Skaana Management L.P. New +6,908,000+6.9m
D. E. Shaw & Co., Inc. Added +2,745,000+2.7m
BNP PARIBAS FINANCIAL MARKETS Added +221,000+221.0k

Biggest sellers

ROYAL BANK OF CANADA Sold out -7,400,000-7.4m
OSTERWEIS CAPITAL MANAGEMENT INC Sold out -6,995,000-7.0m
REDWOOD CAPITAL MANAGEMENT, LLC Sold out -4,000,000-4.0m
Pentwater Capital Management LP Sold out -1,250,000-1.2m
Triton Wealth Management, PLLC Reduced -250-250

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.07% of their portfolio New York, NY 27,525,00027.5m $45.6m $45.6m 0.07% Added +2.7m +2,745,000
2 LAZARD ASSET MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 27,000,00027.0m $44.7m $44.7m 0.06% Unchanged
3 BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio PARIS, I0 20,496,00020.5m $34.0m $34.0m 0.07% Added +221.0k +221,000
4 ANGELO GORDON & CO., L.P. 9.12% of their portfolio NEW YORK, NY 18,250,00018.2m $30.1m $30.1m 9.12% Unchanged
5 Lombard Odier Asset Management (USA) Corp 3.25% of their portfolio New York, NY 17,500,00017.5m $29.0m $29.0m 3.25% Unchanged
6 LMR Partners LLP 0.60% of their portfolio LONDON, X0 16,000,00016.0m $26.4m $26.4m 0.60% Unchanged
7 Tetragon Partners GP Ltd 2.99% of their portfolio GRAND CAYMAN, E9 13,312,00013.3m $22.2m $22.2m 2.99% Unchanged
8 MIZUHO SECURITIES USA LLC 0.65% of their portfolio NEW YORK, NY 11,900,00011.9m $19.7m $19.7m 0.65% New
9 Skaana Management L.P. 3.36% of their portfolio BROOKLYN, NY 6,908,0006.9m $11.4m $11.4m 3.36% New
10 MacKay Shields LLC 0.22% of their portfolio New York, NY 4,733,0004.7m $7.8m $7.8m 0.22% Unchanged
11 Employees Retirement System of Texas 0.00% of their portfolio AUSTIN, TX 200,000200.0k $331.0k $331.0k 0.00% Unchanged
12 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 150,000150.0k $247.6k $247.6k 0.00% Unchanged
13 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 91,00091.0k $150.2k $150.2k 0.00% Unchanged
14 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 38,00038.0k $62.7k $62.7k 0.00% Unchanged
15 Triton Wealth Management, PLLC 0.19% of their portfolio SUN CITY, AZ 18,12418.1k $341.9k $341.9k 0.19% Reduced -250 -250
16 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged