What smart money is saying about Norwegian Cruise Line
1 fund in our archive has pitched Norwegian Cruise Line, most recently Antipodes Global SMID Active ETF in June 2026.
Norwegian Cruise Line Holdings Ltd. (NCLH), along with its subsidiary companies, operates as a major global cruise enterprise. Its operations span North America, Europe, the Asia-Pacific region, and other international markets. The company manages a portfolio of three distinct cruise brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. NCLH offers an extensive range of voyages, from brief three-day excursions to lengthy 180-day expeditions. These itineraries explore a comprehensive list of destinations worldwide, including Scandinavia, Russia, the Mediterranean, and the Greek Isles; the Alaskan wilderness, Canada and New England; Hawaii, Asia, Tahiti, and the South Pacific; Australia and New Zealand; Africa, India, and South America; as well as the Panama Canal and the Caribbean. As of December 31, 2021, the company commanded a fleet of 28 ships, providing approximately 59,150 berths for guests. Its travel products are distributed through multiple channels, including independent retail/travel advisors, direct sales onboard its ships, and specialized services for meetings, incentives, and private charters. Founded in 1966, Norwegian Cruise Line Holdings Ltd. maintains its corporate headquarters in Miami, Florida.
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Position history
Between Q3 2025 and Q3 2026, 9 fund letters reported a position in Norwegian Cruise Line, with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 3 | 0 | 0 | 0 |
| Q2 2026 | 3 | 1 | 0 | 1 |
| Q1 2026 | 2 | 0 | 0 | 0 |
| Q3 2025 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions · 1 move
- September 2026
“By comparison, Norwegian Cruise Line Holdings (NCLH) declined during the quarter as investors focused on weaker yield expectations, uneven booking trends and ongoing execution challenges.”
Norwegian Cruise Line - September 2026
Listed in Artisan Partners High Income Strategy’s reported holdings.
Norwegian Cruise Line - September 2026
“Our Consumer Discretionary positioning was the biggest detractor across all of the domestic value portfolios during the period. More specifically, Norwegian Cruise Line Holdings Ltd. (NCLH) and OneSpaWorld Holdings, Ltd. (OSW) were a couple of our holdings that were most sensitive to a waning consumer.”
Norwegian Cruise Line - June 2026
“7 Madison Square Garden Entertainment Corporation Consumer Discretionary 3.67 8 Norwegian Cruise Line Holdings, Ltd. Consumer Discretionary 3.52 9 Generac Holdings, Inc.”
Norwegian Cruise Line - New positionAntipodes Global SMID Active ETFJune 2026
“We initiated positions in Norwegian Cruise Line and Performance Food Group (PFGC).”
Norwegian Cruise Line - June 2026
Listed in Artisan Partners High Income Strategy’s reported holdings.
Norwegian Cruise Line - March 2026
“Shares of Norwegian Cruise Line Holdings Ltd. (NCLH) also declined during the quarter after earnings guidance came Ariel Small/Mid Cap Value March 31, 2026 2 in below investor expectations.”
Norwegian Cruise Line - March 2026
“Norwegian Cruise Line Holdings Ltd. (NCLH) declined during the quarter after earnings guidance came in below investor expectations.”
Norwegian Cruise Line - September 2025
“New to the sector this quarter was Norwegian Cruise Line Holdings Ltd., an operator of thirty-four cruise ships across Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises.”
Norwegian Cruise Line
Fund coverage · 1 thesis
- Antipodes Global SMID Active ETFJune 2026
Norwegian Cruise Line is viewed as a premium brand in an oligopolistic market with resilient demand, strong operating leverage, and potential multiple expansion.
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