Carnival Corporation

CCL • NYSE

Carnival Corporation is a leisure company in the consumer cyclical sector on NYSE, led by Arnold W. Donald, with a market cap of $36.3B. As of Q3 2025, 65% of shares are held by 1,005 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.73%.

CEOArnold W. Donald

Market Cap$36.3B

Leisure

Consumer Cyclical

Employees106.0K

Websitecarnivalcorp.com

Country

United States of America

Overview

Overview of institutional ownership in CCL as of Q3 2025 with a market cap of $38.0B

All Institutions

Institutions: 1,005
Value Held: $24.8B
Shares Held: 859.0M
Avg Position: $24.7M
Median Position: $524.9K

Hedge Funds

Hedge Funds: 90
Value Held: $2.9B
Shares Held: 100.1M
Avg Position: $32.2M
Median Position: $4.4M

Ownership Breakdown

Institutional (non-HF)

57.8%

$21.9B

Hedge Funds

7.62%

$2.9B

Retail & Other

34.58%

$13.1B

Based on market cap of $38.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CCL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$3.7B 0.06% of portfolio	9.73% 127.8M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$2.3B 0.04% of portfolio	6.03% 79.2M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.4B 0.05% of portfolio	3.61% 47.4M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	Cory Lawrence Martin CEO	$1.0B 3.32% of portfolio	2.75% 36.1M shares	Q2 2024 Held for 1y 5m	$31.4B
CAUSEWAY CAPITAL MANAGEMENT LLC Long Only Manager	Sarah Hotchkis Ketterer CEO	$922.6M 12.19% of portfolio	2.43% 31.9M shares	Q1 2025 Held for 8 months	$7.6B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$828.4M 0.05% of portfolio	2.19% 28.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
B BESSEMER GROUP INC Institution	-	$768.8M 1.19% of portfolio	2.03% 26.6M shares	Q4 2014 Held for 10y 11m	$64.4B
N Nuveen, LLC Institution	-	$762.2M 0.20% of portfolio	2.01% 26.4M shares	Q1 2025 Held for 8 months	$377.89B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$662.9M 0.04% of portfolio	1.75% 22.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
FMR LLC Institution	-	$624.1M 0.03% of portfolio	1.64% 21.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T

Net Capital Flow

Institutional buying and selling activity for CCL in Q3 2025

Traded: +$1.2B
Buyers: 537
Sellers: 342
Total Bought: +$3.0B
Total Sold: −$1.8B
Avg Position: $22.9M

Biggest Buyers

Institution	Net Bought	Current Position
B BNP PARIBAS ARBITRAGE, SA Institution	+$176.4M +6.1M shares	$282.9M 9.8M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$175.4M +6.1M shares	$351.5M 12.2M shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	+$141.2M +4.9M shares	$419.6M 14.5M shares
Q Qube Research & Technologies Ltd Institution	+$130.5M +4.5M shares	$166.1M 5.7M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	+$114.7M +4.0M shares	$120.6M 4.2M shares
R ROYAL BANK OF CANADA Institution	+$110.2M +3.8M shares	$136.2M 4.7M shares
B BlackRock, Inc. Institution	+$100.5M +3.5M shares	$2.3B 79.2M shares
FMR LLC Institution	+$83.8M +2.9M shares	$624.1M 21.6M shares
N Nuveen, LLC Institution	+$80.6M +2.8M shares	$762.2M 26.4M shares
CAUSEWAY CAPITAL MANAGEMENT LLC Long Only Manager	+$80.5M +2.8M shares	$922.6M 31.9M shares

Biggest Sellers

Institution	Net Sold	Current Position
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	−$371.4M −13.2M shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$109.3M −3.8M shares	$354.0M 12.2M shares
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	−$100.2M −3.5M shares	$55.3M 1.9M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$97.6M −3.4M shares	$126.6M 4.4M shares
Junto Capital Management LP Hedge Fund•Long/Short	−$95.7M −3.3M shares	$81.0M 2.8M shares
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	−$78.1M −2.8M shares	Sold Off 0 shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$77.5M −2.7M shares	$117.3M 4.1M shares
JPMORGAN CHASE & CO Institution	−$73.5M −2.5M shares	$662.9M 22.9M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$69.8M −2.4M shares	$149.9M 5.2M shares
MANE GLOBAL CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	−$56.0M −2.0M shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CCL in Q3 2025

New Positions: 54
New Value: $152.7M
Exited Positions: 80
Exited Value: $678.4M

New Positions

Institution	Position Value
A Alua Capital Management LP Hedge Fund•Long/Short	$68.6M 2.4M shares
Corvex Management LP Hedge Fund•Event Driven	$37.3M 1.3M shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$13.3M 459.1K shares
MILESTONE ASSET MANAGEMENT, LLC RIA/Wealth	$4.6M 160.2K shares
L Longaeva Partners L.P. Institution	$4.2M 145.1K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$3.9M 136.3K shares
PIER 88 INVESTMENT PARTNERS LLC Hedge Fund•Long/Short	$3.0M 103.5K shares
W. E. Donoghue & Co., LLC Long Only Manager	$2.0M 69.3K shares
E Eisler Capital Management Ltd. Institution	$1.9M 64.5K shares
I III Capital Management Hedge Fund•Multi-Strategy	$1.7M 60.0K shares

Exited Positions

Institution	Previous Position
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	$371.4M 13.2M shares
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$78.1M 2.8M shares
MANE GLOBAL CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$56.0M 2.0M shares
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	$29.1M 1.0M shares
Aequim Alternative Investments LP Hedge Fund•Multi-Strategy	$28.3M 1.0M shares
Aquatic Capital Management LLC Hedge Fund•Quant	$28.1M 999.0K shares
Interval Partners, LLC Hedge Fund•Long/Short	$13.9M 494.5K shares
Quantbot Technologies LLC Hedge Fund•Quant	$7.3M 258.4K shares
Adviser Investments LLC Family Office	$6.5M 231.4K shares
Q Quadrature Capital Ltd Institution	$5.2M 184.2K shares

Options Activity

Institutions with the largest Call and Put options positions in CCL as of Q3 2025

Call Positions: 50
Call Value: $939.1M
Put Positions: 57
Put Value: $1.6B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$327.6M 113.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$105.1M 36.3K contracts
J JANE STREET GROUP, LLC Institution	$75.2M 26.0K contracts
GOLDMAN SACHS GROUP INC Institution	$33.2M 11.5K contracts
W WOLVERINE TRADING, LLC Institution	$33.2M 11.3K contracts
BARCLAYS PLC Institution	$31.9M 11.0K contracts
UBS Group AG Institution	$30.8M 10.6K contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$30.6M 105.7 contracts
Candlestick Capital Management LP Hedge Fund•Long/Short	$29.9M 10.3K contracts
A ADAPT Investment Managers SA Institution	$23.1M 8.0K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$289.4M 100.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$188.8M 65.3K contracts
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$116.3M 40.2K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$114.9M 39.8K contracts
J JANE STREET GROUP, LLC Institution	$107.3M 37.1K contracts
Pentwater Capital Management LP Hedge Fund•Event Driven	$105.5M 36.5K contracts
BARCLAYS PLC Institution	$89.9M 31.1K contracts
NINE MASTS CAPITAL Ltd Institution	$86.7M 30.0K contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$45.0M 155.6 contracts
Walleye Trading LLC RIA/Wealth	$42.5M 14.7K contracts

Most Committed Institutions

Institutions with CCL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
H Hound Partners, LLC Hedge Fund•Long/Short	Douglas Edward Marks CFO	15.46% $106.6M	0.28% 3.7M shares	Q1 2025 Held for 8 months	$689.2M
CAUSEWAY CAPITAL MANAGEMENT LLC Long Only Manager	Sarah Hotchkis Ketterer CEO	12.19% $922.6M	2.43% 31.9M shares	Q1 2025 Held for 8 months	$7.6B
Nixon Capital, LLC Hedge Fund•Long/Short	Joseph Ray Nixon Chairman	7.53% $24.7M	0.07% 855.9K shares	Q3 2024 Held for 1y 2m	$328.7M
5 59 North Capital Management, LP Hedge Fund•Long/Short	Michael Richard Bilger Managing Partner	7.32% $235.1M	0.62% 8.1M shares	Q1 2025 Held for 8 months	$3.2B
H Hook Mill Capital Partners, LP Institution	-	5.39% $59.4M	0.16% 2.1M shares	Q2 2024 Held for 1y 5m	$1.1B
A Alua Capital Management LP Hedge Fund•Long/Short	Thomas William Purcell Founder	4.73% $68.6M	0.18% 2.4M shares	Q3 2025 Held for 2 months	$1.4B
Tabor Asset Management, LP Hedge Fund•Long/Short	Ankur Jain President	4.71% $7.8M	0.02% 268.8K shares	Q2 2024 Held for 1y 5m	$165.0M
RIPOSTE CAPITAL LLC Hedge Fund•Long/Short	Jay Clifton Plourde CCO	4.44% $7.2M	0.02% 250.0K shares	Q2 2025 Held for 5 months	$162.9M
L Long Corridor Asset Management Ltd Institution	-	3.72% $7.2M	0.02% 250.0K shares	Q4 2024 Held for 11 months	$194.5M
Candlestick Capital Management LP Hedge Fund•Long/Short	Vicente Armando Citarella President	3.48% $89.5M	0.24% 3.1M shares	Q2 2025 Held for 5 months	$2.6B

Hedge Fund Spotlight

Discover hedge funds investing in CCL

WEXFORD CAPITAL LP

Hedge Fund • Multi-Strategy

Portfolio ManagerCharles Eugene Davidson

Portfolio Value: $330.0M
Positions: 393
Last Reported: Q3 2025

Sector Allocation

Position in Carnival Corporation

Market Value: $355.8K
Shares Held: 12.3K
Portfolio Weight: 0.11%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Mammoth Energy Services, Inc. TUSK	Conglomerates Industrials	$50.6M	15.33%
2 Nephros NEPH	Medical - Instruments & Supplies Healthcare	$17.1M	5.18%
3 Cornerstone Building Brands CNR	Unknown Unknown	$14.1M	4.28%