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NVO in the 13F filings

Novo-nordisk A S · CUSIP 670100205

Sector · Pharmaceuticals and biotechnologyTheme · Healthcare: biopharma and medtech· L3VLUP-definedTheme · Pharmaceutical preparations
Quarter
Q3 2026 · early filersQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
29
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 13 listed it in both
Shares listed
50,426,135
combined, among listed positions
Reported value
$2.6bn
combined, at the quarter end

Among the 92 comparable managers: 19 buyers (opened or added shares) and 15 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +13,057,438.

Managers listing NVO in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

29 of 29 holders

ActionFiling
Fidelity (FMR LLC)10,017,325$510munder 0.1%Trimmed-4,058,06617 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc9,688,262$493m0.05%Added+4,836,28517 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC7,410,923$377m0.06%Added+4,278,88917 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC4,807,279$245m0.86%Added+4,302,12617 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC3,183,678$162m0.25%Added+301,68212 Feb 2026 (the filing on sec.gov)
Markel Group Inc2,869,774$146m1.16%Added+501,1256 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC2,248,994$114munder 0.1%Added+62,52812 Feb 2026 (the filing on sec.gov)
Millennium Management LLC1,616,265$82munder 0.1%Added+1,592,36217 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP1,222,034$62munder 0.1%Added+568,34317 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP1,180,500$60m0.13%Newnew17 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC934,644$48m0.05%Trimmed-154,35113 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.845,224$43munder 0.1%Trimmed-204,29517 Feb 2026 (the filing on sec.gov)
Invesco Ltd631,689$32munder 0.1%Added+107,69519 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP544,547$28munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Hudson Bay Capital Management LP529,203$27m0.09%Added+274,59713 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC508,109$26munder 0.1%Added+464,12917 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC500,644$25m0.08%Added+356,87913 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP343,191$17munder 0.1%Trimmed-1,348,33517 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP274,272$14m0.11%Newnew17 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp234,268$12munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Capital World Investors199,363$10munder 0.1%Trimmed-11,49911 Feb 2026 (the filing on sec.gov)
MFS Investment Management188,444$9.6munder 0.1%Added+1422 Jan 2026 (the filing on sec.gov)
AQR Capital Management LLC141,410$7.2munder 0.1%Added+17,61517 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC140,743$7.2munder 0.1%Trimmed-25,96627 Oct 2026 (the filing on sec.gov)
Acadian Asset Management LLC89,729$4.6munder 0.1%Trimmed-129,45510 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (4)

Exited (5)

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
23 in Q3 2024 to 15 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
NVO by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20135$735mn.a.n.a.
Q3 20136$870mn.a.n.a.
Q4 20134$1.0bnn.a.n.a.
Q1 20145$1.3bnn.a.n.a.
Q2 20144$1.3bnn.a.n.a.
Q3 20144$1.3bnn.a.n.a.
Q4 20145$1.1bnn.a.n.a.
Q1 20154$1.3bnn.a.n.a.
Q2 20157$1.3bnn.a.n.a.
Q3 20156$1.3bnn.a.n.a.
Q4 20155$1.4bnn.a.n.a.
Q1 20168$1.3bnn.a.n.a.
Q2 20166$1.3bnn.a.n.a.
Q3 201614$1.2bnn.a.n.a.
Q4 201611$714mn.a.n.a.
Q1 201710$791mn.a.n.a.
Q2 20175$677mn.a.n.a.
Q3 20178$804mn.a.n.a.
Q4 20179$1.1bnn.a.n.a.
Q1 20188$1.0bnn.a.n.a.
Q2 201810$1.1bnn.a.n.a.
Q3 201810$1.2bnn.a.n.a.
Q4 201810$1.5bnn.a.n.a.
Q1 20199$1.7bnn.a.n.a.
Q2 201910$1.6bnn.a.n.a.
Q3 201910$1.8bnn.a.n.a.
Q4 201911$2.1bnn.a.n.a.
Q1 202010$2.2bnn.a.n.a.
Q2 20208$2.2bnn.a.n.a.
Q3 20207$2.2bnn.a.n.a.
Q4 20205$2.0bnn.a.n.a.
Q1 20214$1.8bnn.a.n.a.
Q2 20215$2.2bnn.a.n.a.
Q3 20217$2.4bnn.a.n.a.
Q4 20216$2.5bnn.a.n.a.
Q1 20227$2.4bnn.a.n.a.
Q2 202210$2.5bnn.a.n.a.
Q3 20227$1.8bnn.a.n.a.
Q4 202212$3.1bnn.a.n.a.
Q1 202314$3.8bnn.a.n.a.
Q2 202317$4.3bnn.a.n.a.
Q3 202320$5.6bnn.a.n.a.
Q4 202323$6.0bn148
Q1 202417$7.3bn712
Q2 202424$8.7bn157
Q3 202423$6.5bn1211
Q4 202421$4.3bn109
Q1 202518$2.8bn116
Q2 202515$2.4bn87
Q3 202515$1.6bn98
Q4 202512$1.6bn1915
Q1 202617$2.9bn2113
Q2 202615$3.0bn1318

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

NVO and LLY →NVO and JNJ →NVO and VRTX →Choose a stock to compare with NVO →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own NVO, latest filings →Back to the 13F Explorer →