Auto-Owners Insurance 13F: New $16M Stake in Carnival (CCL)
Auto-Owners Insurance reported a brand-new position in cruise operator Carnival Corporation Ltd., picking up 650,000 shares.
Reviewed by automated data checks against the source filing. How we make and check alerts
Auto-Owners Insurance opened a new position of 650,000 shares in Carnival Corporation Ltd. ($CCL), according to a 13F filing with the SEC dated October 15, 2026. It reported 650,000 shares worth $15.95 million at the end of the quarter.
Since the filing, $CCL is down 2.1% to date (from the $26.46 close on Oct 15, 2026).
Find the original: Auto-Owners Insurance 13F filings on SEC EDGAR
CCL
Carnival Corporation Ltd.
Key Points
- Auto-Owners Insurance opened a new position in Carnival Corporation Ltd. by purchasing 650,000 shares valued at roughly $15.9 million.
- Carnival shares recently traded around $25.84, sitting about 24.1% below their 52-week high while offering a 1.7% dividend yield.
- Major institutions including Blackrock and Vanguard adjusted their holdings in the cruise company earlier in the year.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Carnival Corporation Ltd. alert may contain errors. Disclosures
Auto-Owners Insurance opened a brand-new position in Carnival Corporation Ltd. CCL, picking up 650,000 shares worth about $15.9 million. The institutional holdings report filed with the SEC on October 15, 2026, shows the insurer initiated this stake during the period, though 13F filings look backward at past holdings and may not reflect current trades.
Other Institutional Activity in Carnival Corporation Ltd.
Large investment firms have been busy adjusting their stakes in the cruise line operator. Blackrock Inc. grew its holdings by 6,325,552 shares, ending with 96,304,948 shares worth about $2,494,298,116. Vanguard Capital Management LLC grew its holdings by 9,206,045 shares, ending with 82,678,077 shares worth about $2,141,362,162. Vanguard Portfolio Management LLC grew its holdings by 7,630,323 shares, ending with 62,406,507 shares worth about $1,616,328,507. State Street Corporation grew its holdings by 7,977,995 shares, ending with 58,217,260 shares worth about $1,507,827,011. Causeway Capital Management LLC grew its holdings by 4,095,320 shares, ending with 41,190,606 shares worth about $1,066,836,679.
Carnival Corporation Ltd. Stock Down 2.3%
Carnival shares recently traded around $25.84 as of October 16, 2026, sitting above their 50-day moving average of $24.94 but below their 200-day average of $27.30. The stock has traded between a 52-week low of $21.45 and a 52-week high of $34.03.
Recent Earnings
The company posted trailing twelve-month revenue of $27.59 billion alongside earnings of $2.27 per share, with a net margin of 11.4% and a return on equity of 24.0%. Its next earnings report is scheduled for December 18, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 7.3%. Revenue missed estimates by 0.5%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 3 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 upgrade, 1 target raise, 5 target cuts.
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Earnings quality
Gross margin up 0.9 points. Positive free cash flow.
Earnings Call Summary
Carnival posted strong first quarter results with record revenue, yields, and customer deposits near $8 billion. Net income jumped 55 percent year over year to $275 million. Demand remained robust with close-in bookings up 10 percent year over year and nearly 85 percent of 2026 sailings already booked at high prices. Management credited strong execution and higher onboard spending. However, geopolitical tensions and fuel price spikes created a $500 million headwind to full year guidance, which management offset with operational improvements of $150 million.
Guidance Carnival raised 2026 earnings guidance to $2.21 per share, up from prior December view, despite a $500 million fuel headwind. Management expects modest 2.75 percent yield growth and 3.1 percent cruise cost growth for the full year. They introduced PROPEL targets for 2029: greater than 16 percent return on invested capital, more than 50 percent earnings per share growth from 2025, and over 40 percent of operating cash returned to shareholders, roughly $14 billion.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
Carnival pays an annual dividend rate of $0.45 per share, yielding 1.7% based on a payout ratio of 19.8%.
Insider Buying and Selling at Carnival Corporation Ltd.
Company insiders executed several transactions earlier in the year, including Chief Financial Officer David Bernstein selling 361,790 shares on February 10, 2026. Director Sir Jonathon Band sold 12,000 shares on April 1, 2026, while other officers and directors also trimmed holdings.
Analysts Set New Price Targets
Analysts have updated their views on the stock, with Morgan Stanley maintaining an overweight rating and a $32.50 price target on September 30, 2026. Freedom Broker, Argus Research, and Wells Fargo maintained buy or overweight ratings in early October, while Tigress Financial kept a $42.00 target.
About Carnival Corporation Ltd.
Carnival Corporation runs leisure travel and cruise operations globally through major brands, operating ships, port destinations, hotels, and rail transport. The company's performance is closely tied to consumer discretionary spending on vacations and travel.
Bottom Line
Auto-Owners Insurance's new position highlights growing institutional interest in the travel sector. Investors will look toward the upcoming earnings release on December 18, 2026, for further clarity on passenger ticket sales and overall profitability. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.
Related Filing Alerts
Source: Auto-Owners Insurance's 13F filing on $CCL (Oct 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Auto-Owners Insurance 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts