Vault-13

NCL CORP LTD NCLH 5.375 08.01.25

NOTE 5.375% 8/0 · US DOMESTIC · CUSIP 62886HAX9

44 institutional holders +3 vs Q4 2022
21,660,00021.7m shares reported held*
$537.8mreported value*
7 new 12 added 16 reduced 4 sold out net sold ≈ $1.5m (+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 ≈ $24.83.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 40Q4 22: 41Q1 23: 4444Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202240
Q4 202241
Q1 202344

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 19 bought or addedQ4 22: 15 cut or sold outQ4 22Q1 23: 19 bought or addedQ1 23: 20 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221915
Q1 20231920

Biggest buyers

Sculptor Capital LP New +16,000,000+16.0m
Fort Baker Capital Management LP New +11,500,000+11.5m
D. E. Shaw & Co., Inc. Added +8,200,000+8.2m
VOYA INVESTMENT MANAGEMENT LLC Added +8,200,000+8.2m
ADVENT CAPITAL MANAGEMENT /DE/ Added +6,490,000+6.5m
LAZARD ASSET MANAGEMENT LLC Added +5,500,000+5.5m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main New +4,750,000+4.8m
Point72 Asset Management, L.P. Added +4,500,000+4.5m
BNP PARIBAS FINANCIAL MARKETS Added +3,957,000+4.0m
Portman Square Capital LLP New +3,200,000+3.2m

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -15,000,000-15.0m
Shaolin Capital Management LLC Reduced -14,604,000-14.6m
AMERIPRISE FINANCIAL INC Sold out -10,200,000-10.2m
Jefferies Financial Group Inc. Reduced -10,005,000-10.0m
WELLS FARGO & COMPANY/MN Reduced -6,451,000-6.5m
BANK OF MONTREAL /CAN/ Reduced -5,250,000-5.2m
ROYAL BANK OF CANADA Reduced -3,552,000-3.6m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -2,800,000-2.8m
STATE STREET CORP Reduced -1,850,000-1.9m
BlackRock Inc. Reduced -1,650,000-1.6m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.13% of their portfolio NEW YORK, NY 89,733,00089.7m $97.0m $97.0m 0.13% Added +5.5m +5,500,000
2 SOROS FUND MANAGEMENT LLC 1.56% of their portfolio NEW YORK, NY 76,000,00076.0m $82.3m $82.3m 1.56% Unchanged
3 D. E. Shaw & Co., Inc. 0.11% of their portfolio New York, NY 65,200,00065.2m $70.5m $70.5m 0.11% Added +8.2m +8,200,000
4 BNP PARIBAS FINANCIAL MARKETS 0.10% of their portfolio PARIS, I0 41,982,00042.0m $45.4m $45.4m 0.10% Added +4.0m +3,957,000
5 Shaolin Capital Management LLC 1.05% of their portfolio Miami, FL 32,500,00032.5m $35.1m $35.1m 1.05% Reduced -14.6m -14,604,000
6 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio BALA CYNWYD, PA 18,904,00018.9m $20.4m $20.4m 0.03% Reduced -2.8m -2,800,000
7 ADVENT CAPITAL MANAGEMENT /DE/ 0.39% of their portfolio NEW YORK, NY 18,655,00018.7m $20.2m $20.2m 0.39% Added +6.5m +6,490,000
8 Sculptor Capital LP 0.43% of their portfolio New York, NY 16,000,00016.0m $17.3m $17.3m 0.43% New
9 Fort Baker Capital Management LP 2.71% of their portfolio Larkspur, CA 11,500,00011.5m $12.6m $12.6m 2.71% New
10 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 11,370,00011.4m $12.3m $12.3m 0.01% Added +8.2m +8,200,000
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 10,000,00010.0m $10.8m $10.8m 0.00% Reduced -15.0m -15,000,000
12 Point72 Asset Management, L.P. 0.04% of their portfolio STAMFORD, CT 9,500,0009.5m $10.3m $10.3m 0.04% Added +4.5m +4,500,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 9,075,0009.1m $9.9m $9.9m 0.00% Reduced -1.9m -1,850,000
14 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 8,775,0008.8m $9.4m $9.4m 0.00% Added +1.1m +1,100,000
15 MacKay Shields LLC 0.24% of their portfolio New York, NY 8,024,0008.0m $8.7m $8.7m 0.24% Reduced -209.0k -209,000
16 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 7,890,0007.9m $8.5m $8.5m 0.00% Reduced -3.6m -3,552,000
17 Polar Capital Holdings Plc 0.04% of their portfolio London, X0 5,000,0005.0m $5.4m $5.4m 0.04% Reduced -700.0k -700,000
18 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,750,0004.8m $5.1m $5.1m 0.01% New
19 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 4,549,0004.5m $4.9m $4.9m 0.00% Reduced -5.2m -5,250,000
20 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 4,083,0004.1m $4.4m $4.4m 0.01% Added +100.0k +100,000
21 Covalent Partners LLC 16.86% of their portfolio CONCORD, MA 4,000,0004.0m $4.3m $4.3m 16.86% Unchanged
22 PALISADE CAPITAL MANAGEMENT, LP 0.10% of their portfolio FORT LEE, NJ 3,332,0003.3m $3.6m $3.6m 0.10% Reduced -1.2m -1,200,000
23 GABELLI FUNDS LLC 0.03% of their portfolio Rye, NY 3,300,0003.3m $3.6m $3.6m 0.03% Unchanged
24 Portman Square Capital LLP 0.87% of their portfolio London, X0 3,200,0003.2m $3.5m $3.5m 0.87% New
25 Man Group plc 0.01% of their portfolio LONDON, X0 2,800,0002.8m $3.0m $3.0m 0.01% Reduced -750.0k -750,000
26 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,625,0002.6m $2.8m $2.8m 0.00% Reduced -1.2m -1,241,000
27 BlackRock Inc. 0.00% of their portfolio New York, NY 2,555,0002.6m $2.8m $2.8m 0.00% Reduced -1.6m -1,650,000
28 ZAZOVE ASSOCIATES LLC 0.17% of their portfolio INCLINE VILLAGE, NV 1,700,0001.7m $1.8m $1.8m 0.17% Added +700.0k +700,000
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,524,0001.5m $1.6m $1.6m 0.00% Added +96.0k +96,000
30 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,190,0001.2m $1.3m $1.3m 0.00% Reduced -6.5m -6,451,000
31 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 1,000,0001.0m $1.1m $1.1m 0.00% New
32 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 800,000800.0k $861.2k $861.2k 0.01% New
33 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 675,000675.0k $727.9k $727.9k 0.00% Reduced -300.0k -300,000
34 FMR LLC 0.00% of their portfolio BOSTON, MA 500,000500.0k $538.2k $538.2k 0.00% Added +250.0k +250,000
35 Terrapin Asset Management, LLC 0.72% of their portfolio Miami, FL 500,000500.0k $539.7k $539.7k 0.72% Unchanged
36 Teton Advisors, Inc. 0.07% of their portfolio Rye, NY 250,000250.0k $270.4k $270.4k 0.07% Unchanged
37 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 250,000250.0k $270.4k $270.4k 0.01% New
38 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 211,000211.0k $227.1k $227.1k 0.00% Unchanged
39 KBC Group NV 0.00% of their portfolio Brussels, C9 100,000100.0k $109.0k $109.0k 0.00% Unchanged
40 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 70,00070.0k $75.4k $75.4k 0.00% Unchanged
41 SG Americas Securities, LLC 0.09% of their portfolio NEW YORK, NY 61,93061.9k $6.6m $6.6m 0.09% Added +40.0k +40,000
42 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 20,00020.0k $21.6k $21.6k 0.00% Reduced -10.0m -10,005,000
43 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 7,0007.0k $7.6m $7.6m 0.01% Reduced -1.9k -1,881
44 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged