Vault-13

NCL CORP LTD NCLH 5.375 08.01.25

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

40 institutional holders -8 vs Q4 2024
165,000165.0k shares reported held*
$489.4mreported value*
9 new 9 added 11 reduced 15 sold out net sold ≈ $33.8m (-7.7m 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 ≈ $2966.12.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 40Q4 22: 41Q1 23: 44Q2 23: 48Q3 23: 52Q4 23: 44Q1 24: 49Q2 24: 49Q3 24: 48Q4 24: 48Q1 25: 4040Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 202240
Q4 202241
Q1 202344
Q2 202348
Q3 202352
Q4 202344
Q1 202449
Q2 202449
Q3 202448
Q4 202448
Q1 202540

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 23: 29 bought or addedQ2 23: 24 cut or sold outQ3 23: 23 bought or addedQ3 23: 22 cut or sold outQ3 23Q4 23: 19 bought or addedQ4 23: 26 cut or sold outQ1 24: 23 bought or addedQ1 24: 22 cut or sold outQ1 24Q2 24: 27 bought or addedQ2 24: 22 cut or sold outQ3 24: 20 bought or addedQ3 24: 28 cut or sold outQ3 24Q4 24: 20 bought or addedQ4 24: 28 cut or sold outQ1 25: 18 bought or addedQ1 25: 26 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20232924
Q3 20232322
Q4 20231926
Q1 20242322
Q2 20242722
Q3 20242028
Q4 20242028
Q1 20251826

Biggest buyers

MOORE CAPITAL MANAGEMENT, LP New +57,091,000+57.1m
TENOR CAPITAL MANAGEMENT Co., L.P. New +31,672,000+31.7m
ADVENT CAPITAL MANAGEMENT /DE/ Added +9,605,000+9.6m
AQR Arbitrage LLC Added +9,000,000+9.0m
MILLENNIUM MANAGEMENT LLC Added +6,250,000+6.2m
Mirabaud Asset Management (France) SAS New +4,600,000+4.6m
CITIGROUP INC Added +3,322,000+3.3m
WELLINGTON MANAGEMENT GROUP LLP New +2,275,000+2.3m
Union Bancaire Privee, UBP SA Added +2,035,000+2.0m
Warberg Asset Management LLC Added +1,897,000+1.9m

Biggest sellers

Sculptor Capital LP Sold out -31,922,000-31.9m
Balyasny Asset Management L.P. Sold out -29,999,000-30.0m
SOROS FUND MANAGEMENT LLC Sold out -25,500,000-25.5m
Point72 Asset Management, L.P. Sold out -20,000,000-20.0m
TWO SIGMA INVESTMENTS, LP Reduced -10,000,000-10.0m
AMERIPRISE FINANCIAL INC Sold out -8,500,000-8.5m
VOYA INVESTMENT MANAGEMENT LLC Sold out -7,870,000-7.9m
WELLS FARGO & COMPANY/MN Reduced -5,024,000-5.0m
JPMORGAN CHASE & CO Reduced -4,020,000-4.0m
MIZUHO SECURITIES USA LLC Sold out -4,000,000-4.0m

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.15% of their portfolio New York, NY 108,597,000108.6m $124.4m $124.4m 0.15% Unchanged
2 MOORE CAPITAL MANAGEMENT, LP 2.19% of their portfolio NEW YORK, NY 57,091,00057.1m $65.4m $65.4m 2.19% New
3 MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 56,250,00056.2m $64.4m $64.4m 0.06% Added +6.2m +6,250,000
4 TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio NEW YORK, NY 32,407,00032.4m $36.9m $36.9m 0.08% Reduced -10.0m -10,000,000
5 TENOR CAPITAL MANAGEMENT Co., L.P. 0.52% of their portfolio NEW YORK, NY 31,672,00031.7m $36.7m $36.7m 0.52% New
6 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 29,999,00030.0m $34.1m $34.1m 0.03% First filing
7 AQR Arbitrage LLC 0.73% of their portfolio Greenwich, CT 26,500,00026.5m $30.2m $30.2m 0.73% Added +9.0m +9,000,000
8 Calamos Advisors LLC 0.08% of their portfolio NAPERVILLE, IL 15,297,00015.3m $17.5m $17.5m 0.08% Added +99.0k +99,000
9 ADVENT CAPITAL MANAGEMENT /DE/ 0.29% of their portfolio NEW YORK, NY 11,042,00011.0m $12.6m $12.6m 0.29% Added +9.6m +9,605,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 9,800,0009.8m $11.3m $11.3m 0.00% Reduced -500.0k -500,000
11 FMR LLC 0.00% of their portfolio BOSTON, MA 6,180,0006.2m $7.0m $7.0m 0.00% Unchanged
12 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 5,438,0005.4m $6.2m $6.2m 0.00% Added +3.3m +3,322,000
13 Warberg Asset Management LLC 1.54% of their portfolio WINNETKA, IL 4,924,0004.9m $5.6m $5.6m 1.54% Added +1.9m +1,897,000
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 4,780,0004.8m $5.4m $5.4m 0.00% Added +50.0k +50,000
15 Mirabaud Asset Management (France) SAS 4.23% of their portfolio PARIS, I0 4,600,0004.6m $5.3m $5.3m 4.23% New
16 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,250,0004.2m $4.9m $4.9m 0.01% Added +1.8m +1,750,000
17 MacKay Shields LLC 0.15% of their portfolio New York, NY 4,217,0004.2m $4.8m $4.8m 0.15% Reduced -228.0k -228,000
18 Union Bancaire Privee, UBP SA 0.06% of their portfolio GENEVA 1, V8 2,770,0002.8m $3.0m $3.0m 0.06% Added +2.0m +2,035,000
19 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 2,275,0002.3m $2.6m $2.6m 0.00% New
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,262,0002.3m $2.6m $2.6m 0.00% Reduced -3.5m -3,508,000
21 SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio BALA CYNWYD, PA 1,750,0001.8m $20.0k $20.0k 0.00% New
22 PALISADE CAPITAL MANAGEMENT, LP 0.05% of their portfolio FORT LEE, NJ 1,436,0001.4m $1.6m $1.6m 0.05% Unchanged
23 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,204,0001.2m $1.4m $1.4m 0.00% Reduced -5.0m -5,024,000
24 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $575.6k $575.6k 0.00% New
25 Man Group plc 0.00% of their portfolio LONDON, X0 460,000460.0k $526.7k $526.7k 0.00% Unchanged
26 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 400,000400.0k $457.0k $457.0k 0.00% Reduced -125.0k -125,000
27 Kohlberg Kravis Roberts & Co. L.P. 0.01% of their portfolio NEW YORK, NY 365,000365.0k $416.3k $416.3k 0.01% Unchanged
28 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 348,000348.0k $398.5k $398.5k 0.00% Reduced -4.0m -4,020,000
29 Calamos Wealth Management LLC 0.01% of their portfolio NAPERVILLE, IL 132,000132.0k $150.8k $150.8k 0.01% Reduced -3.0k -3,000
30 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 127,000127.0k $144.5k $144.5k 0.00% Reduced -1.0k -1,000
31 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 60,00060.0k $68.7k $68.7k 0.00% New
32 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 59,00059.0k $67.0k $67.0k 0.00% Reduced -61.0k -61,000
33 VIRTUS ADVISERS, LLC 0.04% of their portfolio HARTFORD, CT 48,00048.0k $54.6k $54.6k 0.04% New
34 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 38,00038.0k $43.2k $43.2k 0.00% Unchanged
35 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 23,00023.0k $26.1k $26.1k 0.01% Reduced -1.0k -1,000
36 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 21,52021.5k $2.5m $2.5m 0.01% Unchanged
37 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 11,38011.4k $11.4k $11.4k 0.00% New
38 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 4,0004.0k $4.6k $4.6k 0.00% Unchanged
39 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 4,0004.0k $4.6k $4.6k 0.00% Unchanged
40 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged