Key Points
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Benchstone Capital Management LP exited its entire position in Norwegian Cruise Line Holdings (NYSE: NCLH), selling 2,133,322 shares for an estimated value of $52.54 million, according to a SEC filing dated February 17, 2026.
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The liquidation resulted in a 5.66% decrease in Benchstone’s reportable assets under management (AUM), reducing the position’s value to zero.
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Prior to selling, Norwegian Cruise Line represented 7.2% of Benchstone’s AUM.
What happened
On February 17, 2026, Benchstone Capital Management LP completely liquidated its holdings in Norwegian Cruise Line Holdings, reducing its stake from 2,133,322 shares to none. The shares were sold at an average price of $21.49, which marked an 18.4% decline over the past year, underperforming the S&P 500 by 30.17 percentage points.
What else to know
With the exit, Benchstone’s top holdings now include Amazon (NASDAQ: AMZN) valued at $47.49 million and Taiwan Semiconductor Manufacturing (NYSE: TSM) at $44.44 million. The previous NCLH stake significantly impacted the fund’s performance and strategy, given its past weight in AUM.
