Vault-13

NCL CORP LTD NCLH 5.375 08.01.25

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

48 institutional holders +4 vs Q1 2023
26,622,00026.6m shares reported held*
$655.8mreported value*
14 new 15 added 14 reduced 10 sold out net sold ≈ $17.1m (+5.0m 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 ≈ $24.63.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 40Q4 22: 41Q1 23: 44Q2 23: 4848Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202240
Q4 202241
Q1 202344
Q2 202348

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 19 bought or addedQ4 22: 15 cut or sold outQ4 22Q1 23: 19 bought or addedQ1 23: 20 cut or sold outQ1 23Q2 23: 29 bought or addedQ2 23: 24 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221915
Q1 20231920
Q2 20232924

Biggest buyers

Sculptor Capital LP Added +32,500,000+32.5m
MILLENNIUM MANAGEMENT LLC New +19,000,000+19.0m
Portman Square Capital LLP Added +16,400,000+16.4m
Segantii Capital Management Ltd New +10,500,000+10.5m
D. E. Shaw & Co., Inc. Added +8,500,000+8.5m
Fort Baker Capital Management LP Added +7,000,000+7.0m
MacKay Shields LLC Added +5,872,000+5.9m
AVIVA PLC New +5,000,000+5.0m
JPMORGAN CHASE & CO Added +4,268,000+4.3m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +4,127,000+4.1m

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -46,805,000-46.8m
Shaolin Capital Management LLC Sold out -32,500,000-32.5m
SOROS FUND MANAGEMENT LLC Reduced -27,500,000-27.5m
BNP PARIBAS FINANCIAL MARKETS Reduced -13,315,000-13.3m
Point72 Asset Management, L.P. Sold out -9,500,000-9.5m
Polar Capital Holdings Plc Sold out -5,000,000-5.0m
BANK OF AMERICA CORP /DE/ Reduced -4,887,000-4.9m
BANK OF MONTREAL /CAN/ Sold out -4,549,000-4.5m
ROYAL BANK OF CANADA Reduced -3,975,000-4.0m
ZAZOVE ASSOCIATES LLC Sold out -1,700,000-1.7m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.16% of their portfolio New York, NY 73,700,00073.7m $101.1m $101.1m 0.16% Added +8.5m +8,500,000
2 SOROS FUND MANAGEMENT LLC 1.45% of their portfolio NEW YORK, NY 48,500,00048.5m $66.7m $66.7m 1.45% Reduced -27.5m -27,500,000
3 Sculptor Capital LP 1.75% of their portfolio New York, NY 48,500,00048.5m $66.7m $66.7m 1.75% Added +32.5m +32,500,000
4 LAZARD ASSET MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 42,928,00042.9m $59.0m $59.0m 0.07% Reduced -46.8m -46,805,000
5 BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio PARIS, I0 28,667,00028.7m $39.4m $39.4m 0.08% Reduced -13.3m -13,315,000
6 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 23,031,00023.0m $31.7m $31.7m 0.05% Added +4.1m +4,127,000
7 Portman Square Capital LLP 4.74% of their portfolio London, X0 19,600,00019.6m $26.9m $26.9m 4.74% Added +16.4m +16,400,000
8 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 19,000,00019.0m $26.1m $26.1m 0.03% New
9 Fort Baker Capital Management LP 3.67% of their portfolio Larkspur, CA 18,500,00018.5m $26.0m $26.0m 3.67% Added +7.0m +7,000,000
10 ADVENT CAPITAL MANAGEMENT /DE/ 0.48% of their portfolio NEW YORK, NY 17,588,00017.6m $24.2m $24.2m 0.48% Reduced -1.1m -1,067,000
11 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 14,000,00014.0m $19.2m $19.2m 0.00% Added +4.0m +4,000,000
12 MacKay Shields LLC 0.53% of their portfolio New York, NY 13,896,00013.9m $19.1m $19.1m 0.53% Added +5.9m +5,872,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 11,754,00011.8m $16.4m $16.4m 0.00% Added +2.7m +2,679,000
14 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 11,115,00011.1m $15.3m $15.3m 0.02% Reduced -255.0k -255,000
15 Segantii Capital Management Ltd 0.86% of their portfolio HONG KONG, K3 10,500,00010.5m $14.7m $14.7m 0.86% New
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,792,0005.8m $8.0m $8.0m 0.00% Added +4.3m +4,268,000
17 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 5,750,0005.8m $7.9m $7.9m 0.01% Added +1.0m +1,000,000
18 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 5,363,0005.4m $7.4m $7.4m 0.00% Added +2.7m +2,738,000
19 AVIVA PLC 0.03% of their portfolio LONDON, X0 5,000,0005.0m $6.9m $6.9m 0.03% New
20 MIZUHO SECURITIES USA LLC 0.18% of their portfolio NEW YORK, NY 4,000,0004.0m $5.5m $5.5m 0.18% New
21 Covalent Partners LLC 19.84% of their portfolio CONCORD, MA 4,000,0004.0m $5.5m $5.5m 19.84% Unchanged
22 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,915,0003.9m $5.4m $5.4m 0.00% Reduced -4.0m -3,975,000
23 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 3,895,0003.9m $5.3m $5.3m 0.01% Reduced -188.0k -188,000
24 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 3,888,0003.9m $5.3m $5.3m 0.00% Reduced -4.9m -4,887,000
25 RWC Asset Management LLP 0.24% of their portfolio LONDON, X0 3,600,0003.6m $4.9m $4.9m 0.24% New
26 Flow State Investments, L.P. 2.03% of their portfolio CHICAGO, IL 3,500,0003.5m $4.8m $4.8m 2.03% New
27 BlackRock Inc. 0.00% of their portfolio New York, NY 2,755,0002.8m $3.8m $3.8m 0.00% Added +200.0k +200,000
28 SSI INVESTMENT MANAGEMENT LLC 0.26% of their portfolio Los Angeles, CA 2,750,0002.8m $3.8m $3.8m 0.26% New
29 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,679,0002.7m $3.7m $3.7m 0.00% Added +2.5m +2,468,000
30 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,513,0002.5m $3.5m $3.5m 0.00% Added +1.3m +1,323,000
31 Man Group plc 0.01% of their portfolio LONDON, X0 2,500,0002.5m $3.4m $3.4m 0.01% Reduced -300.0k -300,000
32 PALISADE CAPITAL MANAGEMENT, LP 0.08% of their portfolio FORT LEE, NJ 2,156,0002.2m $3.0m $3.0m 0.08% Reduced -1.2m -1,176,000
33 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 1,850,0001.9m $2.6m $2.6m 0.02% Reduced -1.4m -1,450,000
34 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,087,0001.1m $1.5m $1.5m 0.00% New
35 Calamos Advisors LLC 0.01% of their portfolio NAPERVILLE, IL 1,003,0001.0m $1.4m $1.4m 0.01% New
36 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 525,000525.0k $707.4k $707.4k 0.00% Reduced -150.0k -150,000
37 Terrapin Asset Management, LLC 0.96% of their portfolio Miami, FL 500,000500.0k $688.3k $688.3k 0.96% Unchanged
38 BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 367,000367.0k $505.0k $505.0k 0.02% Added +117.0k +117,000
39 FMR LLC 0.00% of their portfolio BOSTON, MA 250,000250.0k $342.5k $342.5k 0.00% Reduced -250.0k -250,000
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 200,000200.0k $274.4k $274.4k 0.00% New
41 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 174,000174.0k $239.2k $239.2k 0.02% New
42 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 122,000122.0k $167.1k $167.1k 0.00% New
43 KBC Group NV 0.00% of their portfolio Brussels, C9 100,000100.0k $140.0k $140.0k 0.00% Unchanged
44 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 70,00070.0k $95.9k $95.9k 0.00% Unchanged
45 SG Americas Securities, LLC 0.06% of their portfolio NEW YORK, NY 48,06048.1k $6.7m $6.7m 0.06% Reduced -13.9k -13,870
46 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 35,00035.0k $48.0k $48.0k 0.00% New
47 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 27,00027.0k $37.2k $37.2k 0.01% New
48 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged