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NVO

Novo Nordisk
NVO

1,395 hedge funds and large institutions have $16.7B invested in Novo Nordisk in 2025 Q3 according to their latest regulatory filings, with 159 funds opening new positions, 502 increasing their positions, 550 reducing their positions, and 224 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.23% less ownership

Funds ownership: 9.1% → 8.87% (-0.23%)

9% less repeat investments, than reductions

Existing positions increased: 502 | Existing positions reduced: 550

6% less funds holding

Funds holding: 1,481 → 1,395 (-86)

22% less capital invested

Capital invested by funds: $21.3B → $16.7B (-$4.59B)

29% less first-time investments, than exits

New positions opened: 159 | Existing positions closed: 224

32% less call options, than puts

Call options by funds: $2.04B | Put options by funds: $2.99B

32% less funds holding in top 10

Funds holding in top 10: 25 → 17 (-8)

Holders
1,395
Holders Change
-86
Holders Change %
-5.81%
% of All Funds
18.31%
Holding in Top 10
17
Holding in Top 10 Change
-8
Holding in Top 10 Change %
-32%
% of All Funds
0.22%
New
159
Increased
502
Reduced
550
Closed
224
Calls
$2.04B
Puts
$2.99B
Net Calls
-$946M
Net Calls Change
-$454M

Top Buyers

Rank Fund Capital Flow
1
Franklin Resources
Franklin Resources
California
+$800M
2
Capital International Investors
Capital International Investors
California
+$357M
3
Boston Partners
Boston Partners
Massachusetts
+$326M
4
Loomis, Sayles & Company
Loomis, Sayles & Company
Massachusetts
+$210M
5
Citadel Advisors
Citadel Advisors
Florida
+$160M

Top Sellers

Rank Fund Capital Flow
1
Jennison Associates
Jennison Associates
New York
-$1.03B
2
ClearBridge Investments
ClearBridge Investments
New York
-$429M
3
SGA
Sustainable Growth Advisers
Connecticut
-$362M
4
Fayez Sarofim & Co
Fayez Sarofim & Co
Texas
-$184M
5
N
Nuveen
North Carolina
-$145M
Name Holding Trade Value Shares
Change 		Change in
Stake
WCM Investment Management
26
WCM Investment Management
California
$152M +$5.71M +97,477 +4%
DC
27
Davenport & Co
Virginia
$147M +$54.8M +935,468 +55%
Natixis Advisors
28
Natixis Advisors
Massachusetts
$142M -$16.2M -277,536 -10%
SG Americas Securities
29
SG Americas Securities
New York
$132M +$133M +2,274,925 +2,102%
MG
30
Markel Group
Virginia
$131M +$6.44M +110,061 +5%
Jane Street
31
Jane Street
New York
$121M +$83.5M +1,427,178 +188%
SC
32
Saturna Capital
Washington
$115M -$2.87M -49,039 -2%
SRIM
33
Saratoga Research & Investment Management
California
$103M +$20M +341,030 +23%
Baird Financial Group
34
Baird Financial Group
Wisconsin
$99.6M +$18.7M +318,761 +22%
Two Sigma Investments
35
Two Sigma Investments
New York
$93.9M -$30.8M -525,424 -24%
Ameriprise
36
Ameriprise
Minnesota
$80.3M -$9.36M -159,969 -10%
Lazard Asset Management
37
Lazard Asset Management
New York
$78.9M +$9.21M +157,344 +12%
LPL Financial
38
LPL Financial
California
$77.7M -$5.09M -86,886 -6%
Dimensional Fund Advisors
39
Dimensional Fund Advisors
Texas
$74.3M -$7.92M -135,375 -9%
Jennison Associates
40
Jennison Associates
New York
$68M -$1.03B -17,659,339 -94%
Squarepoint
41
Squarepoint
New York
$60.4M +$63.7M +1,088,995 New
Bank of Montreal
42
Bank of Montreal
Ontario, Canada
$58.7M -$83M -1,417,882 -57%
D.E. Shaw & Co
43
D.E. Shaw & Co
New York
$58.2M +$61.4M +1,049,519 New
CS
44
Clear Street
New York
$56.4M +$59.5M +1,016,000 New
Parnassus Investments
45
Parnassus Investments
California
$56.2M +$125K +2,138 +0.2%
Nomura Holdings
46
Nomura Holdings
Japan
$54.1M +$35.5M +607,044 +165%
National Bank of Canada
47
National Bank of Canada
Quebec, Canada
$52.7M +$26M +443,339 +88%
Stifel Financial
48
Stifel Financial
Missouri
$51M -$13.3M -227,577 -20%
ClearBridge Investments
49
ClearBridge Investments
New York
$49.4M -$429M -7,332,020 -89%
Barclays
50
Barclays
United Kingdom
$47.8M +$13.6M +232,108 +37%
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NVO Hedge Fund Activity: Q3 2025 in Review

1,395 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Novo Nordisk (NVO) for Q3 2025, worth a combined $16.7B — down 22% from $21.3B a quarter earlier.

Sellers outnumbered buyers: 224 funds closed out of NVO and 159 opened new positions — a net loss of 65 holders — while 550 trimmed existing stakes and 502 added.

The largest buyer was Franklin Resources, adding an estimated $800M. The largest seller was Jennison Associates, cutting an estimated $1.03B.

  • 1,395 institutional investors held Novo Nordisk (NVO) as of Q3 2025, down from 1,481 in Q2 2025.
  • Funds reported $16.7B of Novo Nordisk stock for Q3 2025, down 22% quarter-over-quarter.
  • 159 funds opened new Novo Nordisk positions in Q3 2025 and 224 closed out, a net change of -65 holders.
  • The largest Novo Nordisk buyer in Q3 2025 was Franklin Resources, an estimated $800M added.
  • The largest Novo Nordisk seller in Q3 2025 was Jennison Associates, an estimated $1.03B sold.

Based on aggregated 13F filings for Q3 2025.