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NVO

Novo Nordisk
NVO

1,529 hedge funds and large institutions have $23B invested in Novo Nordisk in 2025 Q1 according to their latest regulatory filings, with 140 funds opening new positions, 627 increasing their positions, 560 reducing their positions, and 247 closing their positions.

New
Increased
Maintained
Reduced
Closed

12% more repeat investments, than reductions

Existing positions increased: 627 | Existing positions reduced: 560

0.4% less ownership

Funds ownership: 9.97% → 9.57% (-0.4%)

8% less funds holding

Funds holding: 1,664 → 1,529 (-135)

22% less funds holding in top 10

Funds holding in top 10: 32 → 25 (-7)

24% less capital invested

Capital invested by funds: $30.2B → $23B (-$7.2B)

26% less call options, than puts

Call options by funds: $987M | Put options by funds: $1.34B

43% less first-time investments, than exits

New positions opened: 140 | Existing positions closed: 247

Holders
1,529
Holders Change
-135
Holders Change %
-8.11%
% of All Funds
20.5%
Holding in Top 10
25
Holding in Top 10 Change
-7
Holding in Top 10 Change %
-21.88%
% of All Funds
0.34%
New
140
Increased
627
Reduced
560
Closed
247
Calls
$987M
Puts
$1.34B
Net Calls
-$356M
Net Calls Change
-$427M

Top Buyers

Rank Fund Capital Flow
1
Two Sigma Advisers
Two Sigma Advisers
New York
+$317M
2
Capital International Investors
Capital International Investors
California
+$228M
3
ClearBridge Investments
ClearBridge Investments
New York
+$194M
4
Amundi
Amundi
France
+$134M
5
Two Sigma Investments
Two Sigma Investments
New York
+$108M

Top Sellers

Rank Fund Capital Flow
1
GQG Partners
GQG Partners
Florida
-$1.06B
2
Polen Capital Management
Polen Capital Management
Florida
-$446M
3
Capital World Investors
Capital World Investors
California
-$350M
4
Renaissance Technologies
Renaissance Technologies
New York
-$123M
5
Marshall Wace
Marshall Wace
United Kingdom
-$94.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
CBT
576
Central Bank & Trust
Kentucky
$1.44M -$523K -6,332 -23%
NSIM
577
North Star Investment Management
Illinois
$1.44M +$264K +3,200 +18%
SI
578
Sava Infond
Slovenia
$1.44M +$182K +2,200 +12%
IAIM
579
International Assets Investment Management
Florida
$1.44M +$63.4K +768 +4%
DWM
580
Dakota Wealth Management
Florida
$1.43M -$279K -3,381 -14%
GT
581
Glenview Trust
Kentucky
$1.43M +$413 +5 +0%
CCM
582
Chilton Capital Management
Texas
$1.43M +$45.2K +547 +3%
BTI
583
Blue Trust Inc
Georgia
$1.42M +$322K +3,904 +24%
DWM
584
Diversify Wealth Management
Utah
$1.42M -$240K -2,903 -12%
BA
585
Ballast Advisors
Minnesota
$1.42M +$160K +1,938 +11%
JIC
586
Joel Isaacson & Co
New York
$1.41M +$8.26K +100 +0.5%
CLA
587
Carnegie Lake Advisors
New Jersey
$1.41M – – –
CUAMC
588
China Universal Asset Management Company
China
$1.4M – – –
COI
589
Connable Office Inc
Michigan
$1.4M -$85.1K -1,030 -5%
HWAM
590
Hennion & Walsh Asset Management
New Jersey
$1.39M +$24K +290 +1%
FOA
591
Five Oceans Advisors
California
$1.39M – – –
LF
592
Lighthouse Financial
Florida
$1.38M -$95K -1,150 -5%
IIM
593
Ironwood Investment Management
Massachusetts
$1.38M -$4.21K -51 -0.3%
William Blair Investment Management
594
William Blair Investment Management
Illinois
$1.38M -$178K -2,154 -10%
BDS
595
Banco de Sabadell
Florida
$1.37M +$174K +2,105 +12%
AAM
596
Augustine Asset Management
Florida
$1.37M +$4.46K +54 +0.3%
TFS
597
Thoroughbred Financial Services
Tennessee
$1.35M -$1.97M -23,857 -55%
CBA
598
Coastal Bridge Advisors
Connecticut
$1.34M +$1.6M +19,314 New
SEA
599
Stegent Equity Advisors
Texas
$1.33M -$331K -4,010 -17%
TAM
600
Tealwood Asset Management
Minnesota
$1.33M +$397K +4,807 +34%
22 23
24
25 26

NVO Hedge Fund Activity: Q1 2025 in Review

1,529 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Novo Nordisk (NVO) for Q1 2025, worth a combined $23B — down 24% from $30.2B a quarter earlier.

Sellers outnumbered buyers: 247 funds closed out of NVO and 140 opened new positions — a net loss of 107 holders — while 560 trimmed existing stakes and 627 added.

The largest buyer was Two Sigma Advisers, adding an estimated $317M. The largest seller was GQG Partners, cutting an estimated $1.06B.

  • 1,529 institutional investors held Novo Nordisk (NVO) as of Q1 2025, down from 1,664 in Q4 2024.
  • Funds reported $23B of Novo Nordisk stock for Q1 2025, down 24% quarter-over-quarter.
  • 140 funds opened new Novo Nordisk positions in Q1 2025 and 247 closed out, a net change of -107 holders.
  • The largest Novo Nordisk buyer in Q1 2025 was Two Sigma Advisers, an estimated $317M added.
  • The largest Novo Nordisk seller in Q1 2025 was GQG Partners, an estimated $1.06B sold.

Based on aggregated 13F filings for Q1 2025.