Mizuho adds Sysco stake, boosts Norwegian Cruise holdings

Investing.com -- Mizuho Securities filed its 13F report for the second quarter on Friday, showing two notable position changes in its portfolio.

The firm established a new position of 5 million shares in Sysco Corp (NYSE: SYY), moving from zero holdings in the previous quarter. The purchase likely occurred in April when Sysco's stock declined following its $29 billion acquisition announcement of Jetro Restaurant Depot on March 30. The stock fell from $80 to $70 after the deal was announced but has since recovered those losses.

The Sysco acquisition does not require shareholder approval. The nomination window at Sysco remains open until August 16.

Mizuho also increased its stake in Norwegian Cruise Line Holdings (NYSE: NCLH) from 1.8 million shares to 11.4 million shares during the second quarter, making it a 2.5% holder. The stock weakened in May, which may have presented a buying opportunity. Elliott Management has an existing position in Norwegian Cruise Line and has reached an agreement with the company.

Gordon Haskett Research noted that Mizuho's largest holdings have historically aligned with activist campaigns by DE Shaw, though the nature of any connection remains unclear.

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