Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Novo-Nordisk A S (NVO)

1K + Investors. Track Smart Money conviction in NVO. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +80
Streak
1Q ▲
Buyers last Q
53%

Smart Money Signals — NVO

Based on 1360 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added NVO than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 75% of 3.0Y peak

75% of all-time peak
1,360 funds currently hold this stock — 75% of the 3.0-year high of 1,802 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 8% fewer funds vs a year ago

fund count last 6Q
116 fewer hedge funds hold NVO compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 53% buying

724 buying630 selling
Last quarter: 724 funds bought or added vs 630 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+63 vs last Q)

new funds entering per quarter
Funds opening a new NVO position: 166 → 227 → 166 → 229. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

64% of holders stayed for 2+ years

■ 64% conviction (2yr+) ■ 19% medium ■ 17% new
864 out of 1,360 hedge funds have held NVO for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~229 new funds/quarter

146 → 166 → 227 → 166 → 229 new funds/Q
New funds entering each quarter: 166 → 227 → 166 → 229. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 67% veterans vs 20% newcomers

■ 67% veterans ■ 12% 1-2yr ■ 20% new
Entry-cohort mix of 1,444 holders: 971 (67%) are 2+ year veterans, 177 entered 1–2 years ago, and 296 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 51% AUM from top-100 funds

51% from top-100 AUM funds
57 of 1347 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in NVO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
2.2
out of 10
Low Exit Risk
Exit risk score 2.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NVO

In 2026 Q2, 724 hedge funds were net buyers of NVO (229 opened a new position, 495 added to an existing one), while 630 reduced or exited (481 trimmed, 149 sold completely) — a 53% buyer ratio, indicating a slight buying edge. 51% of total institutional value in NVO is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +80 funds (more new holders than closures). Total institutional holders: 1360.

Hedge Fund Ownership: NVO

How many hedge funds hold NVO — quarterly history vs. share price
Quarterly hedge fund ownership of NVO vs. share price

Market Analysis: NVO

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NVO

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Novo-Nordisk A S (NVO) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NVO has moved relative to its sector benchmark (XLV) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 77d ago
NVO
-9.4%
XLV
+5.7%

NVO outperformed XLV by -15.1% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 32d ago
NVO
-4.1%
XLV
+0.2%

Since the filing became public, NVO outperformed XLV by -4.3% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

47 top-rated funds 13 high-conviction
Consensus
7.3
/ 10
breadth
×
Elite
5.3
/ 10
conviction
Hedge Fund Positioning: NVO
1K + Investors

Track Smart Money conviction in NVO. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 1343 1280 4.92%
13F Shares 536M 403M 32.84%
Total Value $19.11B $14.16B 34.96%
New Positions 228 166 +62
Increased Positions 461 442 +19
Closed Positions 152 289 -137
Reduced Positions 460 471 -11
Total Calls 57 54 5.56%
Total Puts 40 36 11.11%
PUT/CALL Ratio 0.7 0.67 Neutral

Statistics: NVO

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

1K + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NVO. Verified SEC 13F-HR filings.

QUARTER:
Top 25 NVO holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Folketrygdfondet 9.85% 9,522,383 $456.5M
2 Penbrook Management LLC 9.67% 316,200 $15.2M
3 Saratoga Research & Investment Management 8.49% 3,236,009 $155.1M
4 Foresight Global Investors, Inc. 7.13% 245,289 $11.8M
5 SALT Holding Corp. 6.51% 256,134 $12.3M
6 Cutter & CO Brokerage, Inc. 4.65% 282,972 $19.6M
7 Alpine Fox Capital LLC 4.56% 201,000 $9.6M
8 Dv Equities, LLC 4.34% 631,226 $30.3M
9 Warther Private Wealth, LLC 4.32% 411,074 $19.7M
10 Longitude (Cayman) Ltd. 4.27% 280,000 $13.4M
11 Arrow Capital Pty Ltd 4.08% 100,000 $4.8M
12 Oak Family Advisors, LLC 3.93% 320,656 $15.4M
13 Birch Capital Management, LLC 3.92% 167,489 $8.0M
14 Everett Harris & Co /Ca/ 3.81% 6,475,622 $310.4M
15 Round Hill Asset Management 3.67% 122,031 $5.9M
16 Transmarket Holdings LP 3.41% 96,946 $4.6M
17 Academy Capital Management 3.04% 479,184 $23.0M
18 Knuff & Co LLC 2.95% 242,776 $11.6M
19 XY Capital Ltd 2.73% 59,048 $2.8M
20 Obsidian Cio, LLC 2.61% 73,106 $3.5M
21 Smith Chas P & Associates Pa Cpas 2.31% 950,151 $45.6M
22 Dividend Assets Capital, LLC 2.18% 234,979 $11.3M
23 Martin Capital Partners, LLC 2.12% 120,258 $5.8M
24 Tevis Investment Management 1.97% 75,115 $3.6M
25 Jessup Wealth Management, Inc 1.96% 136,973 $6.6M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Novo-Nordisk A S (NVO)

What does the Smart Money Trend signal show for NVO?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added NVO than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for NVO?

Slight buying edge — 53% buying: Last quarter: 724 funds bought or added vs 630 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for NVO holders?

Elite ownership — 51% AUM from top-100 funds: 57 of 1347 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in NVO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NVO?

64% of holders stayed for 2+ years: 864 out of 1,360 hedge funds have held NVO for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Novo-Nordisk A S (NVO) following the 2026 Q2 hedge fund 13F filings?

As of today, NVO has moved -4.1% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.2% for the XLV sector ETF — an outperformance of -4.3%. Since the quarter end (June 30, 2026), NVO has gained -9.4% vs +5.7% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →