Seth Klarman's Baupost Group increased its Norwegian Cruise Line Holdings Ltd (NCLH) position by 113% in 2026 Q2, according to the 13F-HR filed with the SEC on August 13, 2026. The stake went from 3.63M to 7.73M shares, worth about $163.2M, and from 1.33% to 3.01% of the reported portfolio.
What did the 2026 Q2 filing report for NCLH?
As of June 30, 2026, from the 13F-HR filed August 13, 2026.
| Before | After | |
|---|---|---|
| Shares | 3.63M | 7.73M |
| Shares added | +4.1M (113%) | |
| Reported value | $67.9M | $163.2M |
| Portfolio weight | 1.33% | 3.01% |
| Rank in portfolio | 12th of 23 |
How much did Seth Klarman add to NCLH?
Seth Klarman added 4.1M shares of NCLH during 2026 Q2, taking the stake from 3.63M to 7.73M. The reported value of the position rose by about $95.3M, from about $67.9M to about $163.2M.
Where does NCLH sit in the Seth Klarman portfolio?
NCLH ranks 12th of 23 stock positions in the Seth Klarman portfolio at 3.01%, below the fund's average stock position of 4%. The largest stock position is AMZN at 16.48%. Next come ELV at 9.11% and QSR at 9.04%. The three largest stocks together are 34.62% of the book. The NCLH addition was the 8th largest of the quarter's 20 position changes by percent change to portfolio. Across the 2026 Q2 portfolio, Seth Klarman reported 23 stock positions, with 3 opened and 2 closed. The total portfolio value is about $5.4B, up 6% from the prior quarter.
How long has Seth Klarman held NCLH?
Seth Klarman first reported NCLH in the quarter ended March 31, 2026. Every reported trade is on the Seth Klarman NCLH trade history page.
FAQ
How many NCLH shares did Seth Klarman buy in 2026 Q2?
Seth Klarman added 4.1M shares of NCLH, a 113% increase, to 7.73M shares.
What is the NCLH position of Seth Klarman worth now?
The NCLH position of Seth Klarman is worth about $163.2M at June 30, 2026 prices, 3.01% of the portfolio.
Is NCLH a top holding of Seth Klarman?
NCLH ranks 12th of 23 stock positions in the Seth Klarman portfolio, at 3.01%.