Vault-13

NCL CORP LTD NCLH 1.125 02.15.27

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

4 institutional holders -26 vs Q1 2026
$4.2mprincipal reported held*
$4.1mreported value*
2 new 0 added 0 reduced 28 sold out net sold ≈ $162.8m (-6.8m 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.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q4 22: 50Q1 23: 54Q2 23: 60Q3 23: 55Q4 23: 55Q1 24: 62Q2 24: 56Q3 24: 59Q4 24: 62Q1 25: 62Q2 25: 54Q3 25: 35Q4 25: 35Q1 26: 30Q2 26: 44Q4 22Q4 23Q4 24Q4 25Q2 26
Numbers
QuarterHolders
Q4 202250
Q1 202354
Q2 202360
Q3 202355
Q4 202355
Q1 202462
Q2 202456
Q3 202459
Q4 202462
Q1 202562
Q2 202554
Q3 202535
Q4 202535
Q1 202630
Q2 20264

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 25 bought or addedQ3 24: 17 cut or sold outQ4 24: 29 bought or addedQ4 24: 24 cut or sold outQ4 24Q1 25: 30 bought or addedQ1 25: 29 cut or sold outQ2 25: 21 bought or addedQ2 25: 31 cut or sold outQ2 25Q3 25: 15 bought or addedQ3 25: 37 cut or sold outQ4 25: 13 bought or addedQ4 25: 20 cut or sold outQ4 25Q1 26: 11 bought or addedQ1 26: 12 cut or sold outQ2 26: 2 bought or addedQ2 26: 28 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242517
Q4 20242924
Q1 20253029
Q2 20252131
Q3 20251537
Q4 20251320
Q1 20261112
Q2 2026228

Biggest buyers

OAKTREE CAPITAL MANAGEMENT LP New +2,874,000+2.9m
BARCLAYS PLC New +84,000+84.0k

Biggest sellers

SOROS FUND MANAGEMENT LLC Sold out -40,175,000-40.2m
MacKay Shields LLC Sold out -38,891,000-38.9m
Sculptor Capital LP Sold out -27,500,000-27.5m
Lombard Odier Asset Management (USA) Corp Sold out -14,500,000-14.5m
LAZARD ASSET MANAGEMENT LLC Sold out -14,061,000-14.1m
ADVENT CAPITAL MANAGEMENT /DE/ Sold out -9,534,000-9.5m
Fort Baker Capital Management LP Sold out -8,907,000-8.9m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sold out -5,000,000-5.0m
VOYA INVESTMENT MANAGEMENT LLC Sold out -4,735,000-4.7m
PALISADE CAPITAL MANAGEMENT, LP Sold out -3,180,000-3.2m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 OAKTREE CAPITAL MANAGEMENT LP 0.05% of their portfolio LOS ANGELES, CA 2,874,0002.9m $2.8m $2.8m 0.05% New
2 Union Bancaire Privee, UBP SA 0.01% of their portfolio GENEVA 1, V8 785,000785.0k $681.8k $681.8k 0.01% Unchanged
3 Fore Capital, LLC 0.66% of their portfolio New York, NY 500,000500.0k $495.8k $495.8k 0.66% Unchanged
4 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 84,00084.0k $83.2k $83.2k 0.00% New