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
↓ -125
Streak
1Q ▼
Buyers last Q
45%

Smart Money Signals — NVO

Based on 1277 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their NVO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 71% of 3.0Y peak

71% of all-time peak
1,277 funds currently hold this stock — 71% of the 3.0-year high of 1,798 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 15% fewer funds vs a year ago

fund count last 6Q
233 fewer hedge funds hold NVO compared to a year ago (-15% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 45% buying

631 buying781 selling
Last quarter: 781 funds reduced or exited vs 631 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-62 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 144 → 166 → 226 → 164. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

63% of holders stayed for 2+ years

■ 63% conviction (2yr+) ■ 18% medium ■ 19% new
805 out of 1,277 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.
💎

Buying through price weakness — shares +1%, value -30%

Value
-29%
Shares
+0%
Last quarter: funds added +1% more shares while total portfolio value only changed -30%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

147 → 144 → 166 → 226 → 164 new funds/Q
New funds entering each quarter: 144 → 166 → 226 → 164. A growing number of institutions are discovering NVO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 65% of holders stayed 2+ years

■ 65% veterans ■ 13% 1-2yr ■ 22% new
Of 1,357 current holders: 882 (65%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 60% AUM from top-100 funds

60% from top-100 AUM funds
55 of 1277 holders are among the 100 largest funds by AUM, controlling 60% 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.
2.3
out of 10
Low Exit Risk
Exit risk score 2.3/10 — 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 Q1, 631 hedge funds were net buyers of NVO (164 opened a new position, 467 added to an existing one), while 781 reduced or exited (492 trimmed, 289 sold completely) — a 45% buyer ratio, indicating roughly balanced activity. 60% of total institutional value in NVO is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -125 funds (more exits than new entries). Total institutional holders: 1277.

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 Q1 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 March 31, 2026 · 74d ago
NVO
+19.4%
XLV
+4.9%

NVO outperformed XLV by +14.5% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 29d ago
NVO
-1.9%
XLV
+6.0%

Since the filing became public, NVO outperformed XLV by -7.9% .

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.

55 top-rated funds 13 high-conviction
Consensus
7.6
/ 10
breadth
×
Elite
4.1
/ 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 Q1) Prior (2025 Q4) Change
Funds Holding 1264 1402 -9.84%
13F Shares 403M 400M 0.63%
Total Value $14.14B $20.10B -29.69%
New Positions 156 226 -70
Increased Positions 441 441 -
Closed Positions 294 207 +87
Reduced Positions 467 560 -93
Total Calls 54 47 14.89%
Total Puts 36 39 -7.69%
PUT/CALL Ratio 0.67 0.83 Bullish

Statistics: NVO

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Short % of Float --

Financial Highlights

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Total Cash (mrq) --
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Institutional Holders (2026 Q1)

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 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Brandywine Financial Group 12.17% 110,173 $5.6M
2 Penbrook Management LLC 8.80% 316,200 $11.6M
3 Foresight Global Investors, Inc. 8.48% 355,574 $13.1M
4 Saratoga Research & Investment Management 7.17% 3,436,329 $126.3M
5 Folketrygdfondet 5.92% 9,080,820 $333.7M
6 SALT Holding Corp. 5.69% 256,134 $9.4M
7 BLKBRD Asset Management, LP 5.54% 57,664 $2.1M
8 XXEC, Inc. 5.08% 545,020 $29.0M
9 Cutter & CO Brokerage, Inc. 4.65% 282,972 $19.6M
10 Warther Private Wealth, LLC 4.48% 519,480 $19.1M
11 Alpine Fox Capital LLC 3.94% 165,000 $6.1M
12 Academy Capital Management 3.78% 719,230 $26.4M
13 Birch Capital Management, LLC 3.12% 162,142 $6.0M
14 Everett Harris & Co /Ca/ 3.04% 6,424,661 $236.1M
15 Round Hill Asset Management 2.93% 121,875 $4.5M
16 Knuff & Co LLC 2.60% 235,229 $8.6M
17 Oak Family Advisors, LLC 2.57% 248,745 $9.1M
18 Altrafin AG 2.21% 174,413 $6.4M
19 Dividend Assets Capital, LLC 2.00% 272,379 $10.0M
20 Cim, LLC 1.99% 374,817 $13.8M
21 Longitude (Cayman) Ltd. 1.94% 128,900 $4.7M
22 Obsidian Cio, LLC 1.90% 57,768 $2.1M
23 Hara Capital LLC 1.79% 94,674 $3.6M
24 Avaii Wealth Management, LLC 1.75% 136,348 $5.0M
25 Jia Investment Alliance PTE. LTD. 1.64% 426,700 $15.7M
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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their NVO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for NVO?

More sellers than buyers — 45% buying: Last quarter: 781 funds reduced or exited vs 631 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for NVO holders?

Elite ownership — 60% AUM from top-100 funds: 55 of 1277 holders are among the 100 largest funds by AUM, controlling 60% 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?

63% of holders stayed for 2+ years: 805 out of 1,277 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 Q1 hedge fund 13F filings?

As of today, NVO has moved -1.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of -7.9%. Since the quarter end (March 31, 2026), NVO has gained +19.4% vs +4.9% 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.

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