Norwegian Cruise Line Holdings Ltd.
US ˙ NYSE ˙ BMG667211046

SecurityNCLH / Norwegian Cruise Line Holdings Ltd.
InstitutionIII Capital Management
Latest Disclosed Ownership41,549 shares
Latest Disclosed Value $ 776,966
III Capital Management reports 70.05% decrease in ownership of NCLH / Norwegian Cruise Line Holdings Ltd.

On May 15, 2026 - III Capital Management filed a 13F-HR form disclosing ownership of 41,549 shares of Norwegian Cruise Line Holdings Ltd. (US:NCLH) valued at $776,966 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 138,734 shares of Norwegian Cruise Line Holdings Ltd.. This represents a change in shares of -70.05% during the quarter. The current value of the position is $779,044 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F NORWEGIAN CRUISE LINE HLDGS SHS G66721104 41,549 -97,185 -70.05 777 -74.94 0.2256
2026-02-17 2025-12-31 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 138,734 65,000 88.15 3,097 70.48 0.4558
2025-11-14 2025-09-30 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 73,734 -11,866 -13.86 1,816 4.67 0.4365
2025-08-14 2025-06-30 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 85,600 40,000 87.72 1,736 100.81 0.3112
2025-05-15 2025-03-31 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 45,600 -30,000 -39.68 865 -55.58 0.1565
2025-02-14 2024-12-31 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 75,600 17,800 30.80 1,945 64.14 0.3133
2024-11-14 2024-09-30 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 57,800 9,800 20.42 1,185 31.52 0.0871
2024-08-14 2024-06-30 13F NORWEGIAN CRUISE LINE HLDG L SHS G66721104 48,000 48,000 902 0.0420
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.