Vault-13

NCL CORP LTD NCLH 1.125 02.15.27

NOTE 1.125% 2/1 · US DOMESTIC · CUSIP 62886HBD2

60 institutional holders +6 vs Q1 2023
27,682,09727.7m shares reported held*
$1.0bnreported value*
10 new 11 added 22 reduced 4 sold out net bought ≈ $11.5m (-7.4m 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 ≈ $36.91.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q4 22: 50Q1 23: 54Q2 23: 6060Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q4 202250
Q1 202354
Q2 202360

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 23: 23 bought or addedQ1 23: 18 cut or sold outQ1 23Q2 23: 21 bought or addedQ2 23: 26 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q1 20232318
Q2 20232126

Biggest buyers

LORD, ABBETT & CO. LLC New +41,024,000+41.0m
LAZARD ASSET MANAGEMENT LLC Added +35,477,000+35.5m
Kohlberg Kravis Roberts & Co. L.P. Added +16,750,000+16.8m
SSI INVESTMENT MANAGEMENT LLC New +9,340,000+9.3m
Centiva Capital, LP New +5,000,000+5.0m
STATE STREET CORP Added +4,650,000+4.7m
BANK OF MONTREAL /CAN/ New +3,232,000+3.2m
MILLENNIUM MANAGEMENT LLC New +3,000,000+3.0m
CSS LLC/IL New +3,000,000+3.0m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Added +3,000,000+3.0m

Biggest sellers

CAMDEN ASSET MANAGEMENT L P /CA Reduced -33,000,000-33.0m
REDWOOD CAPITAL MANAGEMENT, LLC Reduced -17,500,000-17.5m
ZAZOVE ASSOCIATES LLC Sold out -13,175,000-13.2m
VOYA INVESTMENT MANAGEMENT LLC Reduced -7,500,000-7.5m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -6,322,000-6.3m
JANE STREET GROUP, LLC Reduced -4,541,000-4.5m
MORGAN STANLEY Reduced -3,959,000-4.0m
FMR LLC Reduced -3,750,000-3.8m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -3,124,000-3.1m
Portman Square Capital LLP Sold out -3,100,000-3.1m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.27% of their portfolio ATLANTA, GA 279,855,000279.9m $259.3m $259.3m 0.27% Reduced -7.5m -7,500,000
2 LAZARD ASSET MANAGEMENT LLC 0.13% of their portfolio NEW YORK, NY 110,512,000110.5m $102.4m $102.4m 0.13% Added +35.5m +35,477,000
3 ADVENT CAPITAL MANAGEMENT /DE/ 1.98% of their portfolio NEW YORK, NY 106,430,000106.4m $98.6m $98.6m 1.98% Reduced -3.1m -3,124,000
4 Kohlberg Kravis Roberts & Co. L.P. 2.57% of their portfolio NEW YORK, NY 89,692,00089.7m $83.1m $83.1m 2.57% Added +16.8m +16,750,000
5 Calamos Advisors LLC 0.32% of their portfolio NAPERVILLE, IL 68,490,00068.5m $63.0m $63.0m 0.32% Unchanged
6 LMR Partners LLP 1.17% of their portfolio LONDON, X0 55,857,00055.9m $51.4m $51.4m 1.17% Unchanged
7 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 41,024,00041.0m $37.9m $37.9m 0.07% New
8 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 28,733,00028.7m $26.6m $26.6m 0.00% Added +4.7m +4,650,000
9 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 27,500,00027.5m $25.3m $25.3m 0.04% Reduced -1.5m -1,500,000
10 SHENKMAN CAPITAL MANAGEMENT INC 1.92% of their portfolio NEW YORK, NY 26,548,00026.5m $24.7m $24.7m 1.92% Added +877.0k +877,000
11 AQR Arbitrage LLC 1.05% of their portfolio Greenwich, CT 26,338,00026.3m $24.4m $24.4m 1.05% Reduced -37.0k -37,000
12 Magnetar Financial LLC 0.39% of their portfolio EVANSTON, IL 19,291,00019.3m $17.8m $17.8m 0.39% Reduced -1.7m -1,709,000
13 WHITEBOX ADVISORS LLC 0.80% of their portfolio MINNEAPOLIS, MN 17,975,00018.0m $16.6m $16.6m 0.80% Added +1.1m +1,100,000
14 TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio NEW YORK, NY 14,250,00014.2m $13.1m $13.1m 0.04% Reduced -3.0m -3,000,000
15 Amundi 0.00% of their portfolio Paris, I0 10,000,00010.0m $9.1m $9.1m 0.00% Unchanged
16 Zimmer Partners, LP 0.23% of their portfolio NEW YORK, NY 10,000,00010.0m $9.1m $9.1m 0.23% Unchanged
17 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 9,650,0009.7m $8.7m $8.7m 0.01% Reduced -4.5m -4,541,000
18 SSI INVESTMENT MANAGEMENT LLC 0.60% of their portfolio Los Angeles, CA 9,340,0009.3m $8.6m $8.6m 0.60% New
19 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 9,250,0009.2m $8.6m $8.6m 0.01% Added +3.0m +3,000,000
20 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 9,140,0009.1m $8.4m $8.4m 0.00% Reduced -4.0m -3,959,000
21 CAMDEN ASSET MANAGEMENT L P /CA 0.23% of their portfolio Los Angeles, CA 7,100,0007.1m $6.5m $6.5m 0.23% Reduced -33.0m -33,000,000
22 BlackRock Inc. 0.00% of their portfolio New York, NY 6,600,0006.6m $6.1m $6.1m 0.00% Reduced -3.1m -3,060,000
23 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 6,461,0006.5m $5.9m $5.9m 0.01% Unchanged
24 Man Group plc 0.02% of their portfolio LONDON, X0 5,650,0005.7m $5.2m $5.2m 0.02% Reduced -350.0k -350,000
25 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 5,430,0005.4m $5.0m $5.0m 0.00% Added +1.6m +1,587,000
26 ABSOLUTE INVESTMENT ADVISERS, LLC 0.67% of their portfolio ROSEMARY BEACH, FL 5,175,0005.2m $4.7m $4.7m 0.67% Unchanged
27 Centiva Capital, LP 0.23% of their portfolio New York, NY 5,000,0005.0m $4.6m $4.6m 0.23% New
28 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 4,500,0004.5m $4.1m $4.1m 0.01% Unchanged
29 FMR LLC 0.00% of their portfolio BOSTON, MA 3,750,0003.8m $3.5m $3.5m 0.00% Reduced -3.8m -3,750,000
30 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,232,0003.2m $3.0m $3.0m 0.00% New
31 REDWOOD CAPITAL MANAGEMENT, LLC 0.40% of their portfolio New York, NY 3,025,0003.0m $2.7m $2.7m 0.40% Reduced -17.5m -17,500,000
32 CSS LLC/IL 0.21% of their portfolio CHICAGO, IL 3,000,0003.0m $2.7m $2.7m 0.21% New
33 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 3,000,0003.0m $2.8m $2.8m 0.00% New
34 OSTERWEIS CAPITAL MANAGEMENT INC 0.15% of their portfolio SAN FRANCISCO, CA 2,500,0002.5m $2.3m $2.3m 0.15% Unchanged
35 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 2,500,0002.5m $2.3m $2.3m 0.00% Unchanged
36 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 2,500,0002.5m $2.3m $2.3m 0.00% Reduced -6.3m -6,322,000
37 LOOMIS SAYLES & CO L P 0.07% of their portfolio BOSTON, MA 1,998,0972.0m $43.5m $43.5m 0.07% Reduced -10.7k -10,687
38 GABELLI FUNDS LLC 0.01% of their portfolio Rye, NY 1,777,0001.8m $1.6m $1.6m 0.01% Unchanged
39 OAKTREE CAPITAL MANAGEMENT LP 0.02% of their portfolio LOS ANGELES, CA 1,415,0001.4m $1.3m $1.3m 0.02% Reduced -2.4m -2,400,000
40 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,219,0001.2m $1.1m $1.1m 0.00% Reduced -2.0m -1,979,000
41 Pentwater Capital Management LP 0.01% of their portfolio Naples, FL 1,000,0001.0m $923.9k $923.9k 0.01% Unchanged
42 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 1,000,0001.0m $920.5k $920.5k 0.03% Added +750.0k +750,000
43 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 963,000963.0k $887.5k $887.5k 0.00% Unchanged
44 PALISADE CAPITAL MANAGEMENT, LP 0.02% of their portfolio FORT LEE, NJ 787,000787.0k $725.4k $725.4k 0.02% Reduced -213.0k -213,000
45 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 733,000733.0k $675.5k $675.5k 0.00% Added +213.0k +213,000
46 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 700,000700.0k $647.5k $647.5k 0.00% Unchanged
47 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 690,000690.0k $635.9k $635.9k 0.01% Reduced -200.0k -200,000
48 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 500,000500.0k $380.7k $380.7k 0.00% Reduced -500.0k -500,000
49 KBC Group NV 0.00% of their portfolio Brussels, C9 400,000400.0k $372.0k $372.0k 0.00% Unchanged
50 Teton Advisors, Inc. 0.06% of their portfolio Rye, NY 223,000223.0k $205.3k $205.3k 0.06% Unchanged
51 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 168,000168.0k $154.8k $154.8k 0.01% New
52 SG Americas Securities, LLC 0.06% of their portfolio NEW YORK, NY 75,10075.1k $6.8m $6.8m 0.06% Added +12.5k +12,500
53 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 74,00074.0k $68.0k $68.0k 0.00% Added +27.0k +27,000
54 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 66,00066.0k $60.8k $60.8k 0.00% New
55 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 61,00061.0k $56.2k $56.2k 0.00% Reduced -2.2m -2,206,000
56 Marcum Wealth, LLC 0.00% of their portfolio CLEVELAND, OH 20,00020.0k $18.4k $18.4k 0.00% Reduced -10.0k -10,000
57 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 19,00019.0k $17.5k $17.5k 0.00% New
58 UBS Group AG 0.00% of their portfolio ZURICH, V8 18,00018.0k $16.6k $16.6k 0.00% Unchanged
59 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 15,00015.0k $14.0k $14.0k 0.00% New
60 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged