Cliff Asness's NCLH Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 6.79 M shares of Norwegian Cruise Line Holdings Ltd. (NCLH) worth $151.63 M, representing 0.08% of the portfolio. First purchased in 2013-Q4, this long-term strategic position has been held for 43 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in NCLH, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2025, adding 6.37 M shares. Largest reduction occurred in Q1 2020, reducing 2.99 M shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's Norwegian Cruise Line Holdings (NCLH) Holding Value Over Time
Track share changes against reported price movement
Quarterly Norwegian Cruise Line Holdings (NCLH) Trades by Cliff Asness
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | +6.37 M | Add 1505.91% | 6.79 M | $22.32 |
| Q3 2025 | +293,356 | Add 226.25% | 423,015 | $24.63 |
| Q2 2025 | -922,054 | Reduce 87.67% | 129,659 | $20.28 |
| Q1 2025 | +833,082 | Add 381.04% | 1.05 M | $18.53 |
| Q4 2024 | +20,745 | Add 10.48% | 218,631 | $25.73 |
| Q3 2024 | -241,751 | Reduce 54.99% | 197,886 | $20.51 |
| Q2 2024 | +346,471 | Add 371.89% | 439,637 | $18.73 |
| Q1 2024 | +93,166 | New Buy | 93,166 | $20.93 |
| Q4 2023 | -26,590 | Sold Out | 0 | $0.00 |
| Q3 2023 | -277,386 | Reduce 91.25% | 26,590 | $16.48 |
| Q2 2023 | -123,346 | Reduce 28.86% | 303,976 | $21.59 |
| Q1 2023 | -7,637 | Reduce 1.76% | 427,322 | $13.32 |
| Q4 2022 | +183,724 | Add 73.13% | 434,959 | $12.24 |
| Q3 2022 | +251,235 | New Buy | 251,235 | $11.36 |
| Q3 2021 | -61,202 | Sold Out | 0 | $0.00 |
| Q2 2021 | +61,202 | New Buy | 61,202 | $29.30 |
| Q1 2021 | -19,569 | Sold Out | 0 | $0.00 |
| Q4 2020 | +19,569 | New Buy | 19,569 | $24.53 |
| Q3 2020 | -114,335 | Sold Out | 0 | $0.00 |
| Q2 2020 | -1.99 M | Reduce 94.57% | 114,335 | $15.91 |
| Q1 2020 | -2.99 M | Reduce 58.68% | 2.1 M | $10.96 |
| Q4 2019 | +174,335 | Add 3.54% | 5.09 M | $58.41 |
| Q3 2019 | +2.59 M | Add 110.84% | 4.92 M | $51.62 |
| Q2 2019 | +616,738 | Add 35.94% | 2.33 M | $52.00 |
| Q1 2019 | +958,191 | Add 126.47% | 1.72 M | $54.58 |
| Q4 2018 | +639,082 | Add 539.00% | 757,649 | $42.39 |
| Q3 2018 | -530,136 | Reduce 81.72% | 118,567 | $57.43 |
| Q2 2018 | +292,387 | Add 82.06% | 648,703 | $47.25 |
| Q1 2018 | +331,791 | Add 1352.87% | 356,316 | $52.97 |
| Q4 2017 | +4,876 | Add 24.82% | 24,525 | $53.25 |
| Q3 2017 | +19,649 | New Buy | 19,649 | $54.05 |
| Q1 2017 | -5,819 | Sold Out | 0 | $0.00 |
| Q4 2016 | -62,287 | Reduce 91.46% | 5,819 | $42.45 |
| Q3 2016 | -73,537 | Reduce 51.92% | 68,106 | $37.71 |
| Q2 2016 | -7,773 | Reduce 5.20% | 141,643 | $39.84 |
| Q1 2016 | -470,763 | Reduce 75.91% | 149,416 | $55.29 |
| Q4 2015 | -55,798 | Reduce 8.25% | 620,179 | $58.60 |
| Q3 2015 | +291,911 | Add 76.01% | 675,977 | $57.30 |
| Q2 2015 | +218,660 | Add 132.20% | 384,066 | $56.04 |
| Q1 2015 | +102,606 | Add 163.39% | 165,406 | $54.01 |
| Q4 2014 | +62,800 | New Buy | 62,800 | $46.77 |
| Q1 2014 | -54,836 | Sold Out | 0 | $0.00 |
| Q4 2013 | +54,836 | New Buy | 54,836 | $35.47 |
Cliff Asness's Norwegian Cruise Line Holdings Investment FAQs
Cliff Asness first purchased Norwegian Cruise Line Holdings Ltd. (NCLH) in Q4 2013, acquiring 54,836 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held Norwegian Cruise Line Holdings Ltd. (NCLH) for 43 quarters since Q4 2013.
Cliff Asness's largest addition to Norwegian Cruise Line Holdings Ltd. (NCLH) was in Q4 2025, adding 6,793,256 shares worth $151.63 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 6,793,256 shares of Norwegian Cruise Line Holdings Ltd. (NCLH), valued at approximately $151.63 M.
As of the Q4 2025 filing, Norwegian Cruise Line Holdings Ltd. (NCLH) represents approximately 0.08% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in Norwegian Cruise Line Holdings Ltd. (NCLH) was 6,793,256 shares, as reported at the end of Q4 2025.