Novo Nordisk
NVO
1,422 hedge funds and large institutions have $16B invested in Novo Nordisk in 2025 Q4 according to their latest regulatory filings, with 236 funds opening new positions, 445 increasing their positions, 569 reducing their positions, and 183 closing their positions.
29% more first-time investments, than exits
New positions opened: 236 | Existing positions closed: 183
18% more funds holding in top 10
Funds holding in top 10: 17 → 20 (+3)
2% more funds holding
Funds holding: 1,400 → 1,422 (+22)
0.31% more ownership
Funds ownership: 6.77% → 7.08% (+0.31%)
4% less capital invested
Capital invested by funds: $16.7B → $16B (-$656M)
22% less repeat investments, than reductions
Existing positions increased: 445 | Existing positions reduced: 569
37% less call options, than puts
Call options by funds: $2.04B | Put options by funds: $3.26B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$247M |
| 2 |
Voloridge Investment Management
Jupiter,
Florida
|
+$220M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$219M |
| 4 |
Goldman Sachs
New York
|
+$219M |
| 5 |
Millennium Management
New York
|
+$81.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital International Investors
Los Angeles,
California
|
-$333M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$208M |
| 3 |
Fayez Sarofim & Co
Houston,
Texas
|
-$159M |
| 4 |
JP Morgan Chase
New York
|
-$95.9M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$78.5M |
NVO Hedge Fund Activity: Q4 2025 in Review
1,422 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Novo Nordisk (NVO) for Q4 2025, worth a combined $16B — down 3.9% from $16.7B a quarter earlier.
Buyers outnumbered sellers: 236 funds opened new NVO positions and 183 closed out — a net gain of 53 holders — while 445 added to existing stakes and 569 trimmed.
The largest buyer was T. Rowe Price Associates, adding an estimated $247M. The largest seller was Capital International Investors, cutting an estimated $333M.
- 1,422 institutional investors held Novo Nordisk (NVO) as of Q4 2025, up from 1,400 in Q3 2025.
- Funds reported $16B of Novo Nordisk stock for Q4 2025, down 3.9% quarter-over-quarter.
- 236 funds opened new Novo Nordisk positions in Q4 2025 and 183 closed out, a net change of +53 holders.
- The largest Novo Nordisk buyer in Q4 2025 was T. Rowe Price Associates, an estimated $247M added.
- The largest Novo Nordisk seller in Q4 2025 was Capital International Investors, an estimated $333M sold.
Based on aggregated 13F filings for Q4 2025.