Vault-13

NOVO-NORDISK A S NVO

ADR · ADR · CUSIP 670100205 · ISIN US6701002056

1,485 institutional holders -50 vs Q1 2025
313,863,417313.9m shares reported held*
$21.6bnreported value*
114 new 587 added 567 reduced 162 sold out net sold ≈ $672.0m (-9.6m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($39.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $68.97. Options: 55 managers hold calls ($1.1bn notional), 40 hold puts ($1.6bn).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 907Q4 22: 1,049Q1 23: 1,148Q2 23: 1,198Q3 23: 1,311Q4 23: 1,511Q1 24: 1,744Q2 24: 1,865Q3 24: 1,786Q4 24: 1,668Q1 25: 1,535Q2 25: 1,4851,485Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022907
Q4 20221,049
Q1 20231,148
Q2 20231,198
Q3 20231,311
Q4 20231,511
Q1 20241,744
Q2 20241,865
Q3 20241,786
Q4 20241,668
Q1 20251,535
Q2 20251,485

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2k02kQ3 23: 674 bought or addedQ3 23: 468 cut or sold outQ4 23: 766 bought or addedQ4 23: 506 cut or sold outQ4 23Q1 24: 1,016 bought or addedQ1 24: 556 cut or sold outQ2 24: 952 bought or addedQ2 24: 665 cut or sold outQ2 24Q3 24: 825 bought or addedQ3 24: 854 cut or sold outQ4 24: 695 bought or addedQ4 24: 932 cut or sold outQ4 24Q1 25: 751 bought or addedQ1 25: 807 cut or sold outQ2 25: 701 bought or addedQ2 25: 729 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023674468
Q4 2023766506
Q1 20241,016556
Q2 2024952665
Q3 2024825854
Q4 2024695932
Q1 2025751807
Q2 2025701729

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500m$1bn$1.5bn$2bnQ3 24 calls: $790.6mQ3 24 puts: $1.2bnQ3 24P/C 1.47Q4 24 calls: $1.3bnQ4 24 puts: $1.2bnQ4 24P/C 0.94Q1 25 calls: $987.1mQ1 25 puts: $1.3bnQ1 25P/C 1.36Q2 25 calls: $1.1bnQ2 25 puts: $1.6bnQ2 25P/C 1.44
Numbers
QuarterCallsPutsP/C
Q3 2024$790.6m$1.2bn1.47
Q4 2024$1.3bn$1.2bn0.94
Q1 2025$987.1m$1.3bn1.36
Q2 2025$1.1bn$1.6bn1.44

Biggest buyers

ROYAL BANK OF CANADA Added +4,730,302+4.7m
FMR LLC Added +4,308,228+4.3m
Capital International Investors Added +2,109,687+2.1m
MORGAN STANLEY Added +1,965,003+2.0m
Clearbridge Investments, LLC Added +1,588,739+1.6m
BANK OF MONTREAL /CAN/ Added +1,246,467+1.2m
Balyasny Asset Management L.P. Added +1,227,342+1.2m
VICTORY CAPITAL MANAGEMENT INC Added +1,059,179+1.1m
PRICE T ROWE ASSOCIATES INC /MD/ Added +878,598+878.6k
Sustainable Growth Advisers, LP Added +649,390+649.4k

Biggest sellers

Amundi Sold out -4,938,507-4.9m
TWO SIGMA ADVISERS, LP Reduced -3,465,100-3.5m
Nuveen, LLC Reduced -3,236,504-3.2m
D. E. Shaw & Co., Inc. Sold out -2,582,572-2.6m
JPMORGAN CHASE & CO Reduced -2,169,545-2.2m
RENAISSANCE TECHNOLOGIES LLC Reduced -1,884,600-1.9m
VOLORIDGE INVESTMENT MANAGEMENT, LLC Reduced -1,723,476-1.7m
WCM INVESTMENT MANAGEMENT, LLC Reduced -1,501,152-1.5m
CITADEL ADVISORS LLC Reduced -1,321,926-1.3m
TWO SIGMA INVESTMENTS, LP Reduced -930,979-931.0k

Biggest calls

CITADEL ADVISORS LLC Added $202.6m2.9m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $152.2m2.2m shares
Point72 Asset Management, L.P. Added $82.0m1.2m shares
IMC-Chicago, LLC Added $76.7m1.1m shares
JANE STREET GROUP, LLC Added $69.3m1.0m shares
SIMPLEX TRADING, LLC Reduced $63.5m920.5k shares
Qube Research & Technologies Ltd Added $60.8m880.4k shares
Optiver Holding B.V. Added $51.3m743.1k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $43.6m631.0k shares
MILLENNIUM MANAGEMENT LLC Added $42.3m613.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $399.6m5.8m shares
CITADEL ADVISORS LLC Added $267.6m3.9m shares
JANE STREET GROUP, LLC Added $139.6m2.0m shares
D. E. Shaw & Co., Inc. Added $113.2m1.6m shares
SIMPLEX TRADING, LLC Added $84.0m1.2m shares
GROUP ONE TRADING LLC Added $69.4m1.0m shares
IMC-Chicago, LLC Added $68.9m997.8k shares
Optiver Holding B.V. Reduced $47.5m688.1k shares
Twin Tree Management, LP Added $45.6m661.0k shares
PEAK6 LLC Reduced $38.3m554.4k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JENNISON ASSOCIATES LLC 0.77% of their portfolio NEW YORK, NY 18,885,34318.9m $1.3bn $1.3bn 0.77% Added +63.3k +63,341
2 BANK OF AMERICA CORP /DE/ 0.08% of their portfolio CHARLOTTE, NC 14,721,47814.7m $1.0bn $1.0bn 0.08% Reduced -71.1k -71,146
3 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 14,284,79014.3m $985.9m $985.9m 0.06% Added +2.0m +1,965,003
4 FMR LLC 0.05% of their portfolio BOSTON, MA 13,941,16013.9m $962.2m $962.2m 0.05% Added +4.3m +4,308,228
5 LOOMIS SAYLES & CO L P 1.09% of their portfolio BOSTON, MA 12,576,03112.6m $868.0m $868.0m 1.09% Added +187.8k +187,789
6 Capital International Investors 0.14% of their portfolio Los Angeles, CA 11,621,23211.6m $800.1m $800.1m 0.14% Added +2.1m +2,109,687
7 Fisher Asset Management, LLC 0.30% of their portfolio PLANO, TX 11,000,91611.0m $759.3m $759.3m 0.30% Reduced -870.3k -870,320
8 Fayez Sarofim & Co 1.74% of their portfolio Houston, TX 10,503,66210.5m $725.0m $725.0m 1.74% Reduced -708.8k -708,837
9 ROYAL BANK OF CANADA 0.07% of their portfolio TORONTO, A6 10,176,58810.2m $702.4m $702.4m 0.07% Added +4.7m +4,730,302
10 FOLKETRYGDFONDET 15.53% of their portfolio OSLO, Q8 10,094,54310.1m $696.7m $696.7m 15.53% Added +572.6k +572,631
11 Clearbridge Investments, LLC 0.46% of their portfolio NEW YORK, NY 8,222,6738.2m $567.5m $567.5m 0.46% Added +1.6m +1,588,739
12 EVERETT HARRIS & CO /CA/ 5.66% of their portfolio LOS ANGELES, CA 6,394,1826.4m $441.3m $441.3m 5.66% Reduced -13.8k -13,840
13 PRICE T ROWE ASSOCIATES INC /MD/ 0.05% of their portfolio BALTIMORE, MD 6,203,2646.2m $428.1m $428.1m 0.05% Added +878.6k +878,598
14 Sustainable Growth Advisers, LP 2.21% of their portfolio STAMFORD, CT 6,192,6366.2m $427.4m $427.4m 2.21% Added +649.4k +649,390
15 STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.37% of their portfolio BLOOMINGTON, IL 6,142,7786.1m $424.0m $424.0m 0.37% Unchanged
16 STATE STREET CORP 0.02% of their portfolio BOSTON, MA 6,047,6836.0m $418.2m $418.2m 0.02% Added +47.4k +47,430
17 RENAISSANCE TECHNOLOGIES LLC 0.45% of their portfolio NEW YORK, NY 4,936,7964.9m $340.7m $340.7m 0.45% Reduced -1.9m -1,884,600
18 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 4,590,5424.6m $316.8m $316.8m 0.05% Reduced -392.5k -392,512
19 NORTHERN TRUST CORP 0.04% of their portfolio CHICAGO, IL 4,421,4864.4m $305.2m $305.2m 0.04% Reduced -170.4k -170,386
20 BlackRock, Inc. 0.01% of their portfolio New York, NY 4,358,2094.4m $300.8m $300.8m 0.01% Added +79.0k +79,010
21 ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio Berwyn, PA 4,185,6904.2m $288.9m $288.9m 0.08% Reduced -305.8k -305,824
22 WELLS FARGO & COMPANY/MN 0.06% of their portfolio SAN FRANCISCO, CA 4,171,6234.2m $287.9m $287.9m 0.06% Added +378.8k +378,810
23 RAYMOND JAMES FINANCIAL INC 0.08% of their portfolio ST. PETERSBURG, FL 3,369,6873.4m $232.6m $232.6m 0.08% Reduced -345.6k -345,619
24 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 3,324,7983.3m $229.5m $229.5m 0.02% Reduced -2.2m -2,169,545
25 NATIXIS ADVISORS, LLC 0.31% of their portfolio Boston, MA 2,833,0712.8m $195.5m $195.5m 0.31% Reduced -81.0k -81,033
26 WCM INVESTMENT MANAGEMENT, LLC 0.41% of their portfolio LAGUNA BEACH, CA 2,634,7052.6m $180.5m $180.5m 0.41% Reduced -1.5m -1,501,152
27 BANK OF MONTREAL /CAN/ 0.09% of their portfolio TORONTO, A6 2,475,3002.5m $170.8m $170.8m 0.09% Added +1.2m +1,246,467
28 Markel Group Inc. 1.32% of their portfolio Glen Allen, VA 2,258,5882.3m $155.9m $155.9m 1.32% Added +108.6k +108,588
29 TWO SIGMA INVESTMENTS, LP 0.28% of their portfolio NEW YORK, NY 2,216,9502.2m $153.0m $153.0m 0.28% Reduced -931.0k -930,979
30 SATURNA CAPITAL CORP 1.98% of their portfolio BELLINGHAM, WA 2,123,6922.1m $146.6m $146.6m 1.98% Reduced -21.1k -21,067
31 Nuveen, LLC 0.04% of their portfolio CHARLOTTE, NC 2,095,7582.1m $144.6m $144.6m 0.04% Reduced -3.2m -3,236,504
32 UBS Group AG 0.03% of their portfolio ZURICH, V8 1,857,0471.9m $128.2m $128.2m 0.03% Added +424.0k +424,021
33 DSM CAPITAL PARTNERS LLC 1.80% of their portfolio Palm Beach Gardens, FL 1,760,9781.8m $121.5m $121.5m 1.80% Reduced -295.6k -295,609
34 DAVENPORT & Co LLC 0.65% of their portfolio RICHMOND, VA 1,707,0301.7m $117.6m $117.6m 0.65% Added +11.5k +11,508
35 Magellan Asset Management Ltd 1.32% of their portfolio Sydney, C3 1,678,1951.7m $115.8m $115.8m 1.32% Reduced -928.0k -928,021
36 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,609,4801.6m $110.0m $110.0m 0.03% Added +167.2k +167,185
37 Balyasny Asset Management L.P. 0.24% of their portfolio Chicago, IL 1,534,7511.5m $105.9m $105.9m 0.24% Added +1.2m +1,227,342
38 Saratoga Research & Investment Management 5.59% of their portfolio SARATOGA, CA 1,512,6771.5m $104.4m $104.4m 5.59% Added +58.5k +58,517
39 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 1,486,4191.5m $102.6m $102.6m 0.03% Added +107.2k +107,212
40 Baird Financial Group, Inc. 0.18% of their portfolio MILWAUKEE, WI 1,476,6731.5m $101.9m $101.9m 0.18% Added +441.0k +441,034
41 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 1,474,0221.5m $101.7m $101.7m 0.02% Reduced -5.6k -5,600
42 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.15% of their portfolio BALA CYNWYD, PA 1,406,7581.4m $97.1m $97.1m 0.15% Reduced -8.2k -8,155
43 TWO SIGMA ADVISERS, LP 0.20% of their portfolio NEW YORK, NY 1,391,7001.4m $96.1m $96.1m 0.20% Reduced -3.5m -3,465,100
44 TIGER GLOBAL MANAGEMENT LLC 0.26% of their portfolio New York, NY 1,269,0001.3m $87.6m $87.6m 0.26% Unchanged
45 LAZARD ASSET MANAGEMENT LLC 0.12% of their portfolio NEW YORK, NY 1,264,1821.3m $87.3m $87.3m 0.12% Added +26.6k +26,588
46 CITIGROUP INC 0.06% of their portfolio NEW YORK, NY 1,150,9701.2m $79.4m $79.4m 0.06% Reduced -95.4k -95,438
47 STIFEL FINANCIAL CORP 0.08% of their portfolio ST. LOUIS, MO 1,146,9491.1m $79.2m $79.2m 0.08% Reduced -40.6k -40,568
48 VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio San Antonio, TX 1,119,9291.1m $78.0m $78.0m 0.05% Added +1.1m +1,059,179
49 Corient Private Wealth LP 0.10% of their portfolio MIAMI, FL 1,051,4051.1m $72.6m $72.6m 0.10% Reduced -73.0k -73,013
50 PARNASSUS INVESTMENTS, LLC 0.16% of their portfolio San Francisco, CA 1,011,5461.0m $69.8m $69.8m 0.16% Added +85.5k +85,463
51 Mirae Asset Global Investments Co., Ltd. 0.24% of their portfolio SEOUL, M5 1,006,4061.0m $69.5m $69.5m 0.24% Reduced -588.1k -588,138
52 Rockefeller Capital Management L.P. 0.08% of their portfolio NEW YORK, NY 950,937950.9k $65.6m $65.6m 0.08% Added +292.4k +292,355
53 Cerity Partners LLC 0.10% of their portfolio NEW YORK, NY 854,222854.2k $58.0m $58.0m 0.10% Reduced -74.0k -73,991
54 THORNBURG INVESTMENT MANAGEMENT INC 0.73% of their portfolio SANTA FE, NM 822,677822.7k $56.8m $56.8m 0.73% Added +104.8k +104,842
55 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 805,567805.6k $55.6m $55.6m 0.01% Reduced -34.2k -34,235
56 JANE STREET GROUP, LLC 0.08% of their portfolio NEW YORK, NY 759,288759.3k $52.4m $52.4m 0.08% Added +59.1k +59,123
57 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 740,655740.7k $51.1m $51.1m 0.03% Reduced -281.6k -281,556
58 VAN ECK ASSOCIATES CORP 0.05% of their portfolio NEW YORK, NY 668,595668.6k $46.1m $46.1m 0.05% Added +221.0k +221,038
59 TRUIST FINANCIAL CORP 0.07% of their portfolio CHARLOTTE, NC 661,648661.6k $45.7m $45.7m 0.07% Added +6.4k +6,440
60 CIBC WORLD MARKET INC. 0.10% of their portfolio TORONTO, A6 654,063654.1k $45.1m $45.1m 0.10% Added +8.4k +8,400
61 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 628,855628.9k $43.4m $43.4m 0.02% Added +204.7k +204,656
62 Penbrook Management LLC 16.25% of their portfolio NEW YORK, NY 622,800622.8k $43.1m $43.1m 16.25% Added +311.4k +311,400
63 Focus Partners Wealth 0.09% of their portfolio ST LOUIS, MO 604,553604.6k $41.7m $41.7m 0.09% Added +151.1k +151,119
64 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 589,754589.8k $40.7m $40.7m 0.03% Reduced -478.2k -478,162
65 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.31% of their portfolio IRVING, TX 552,601552.6k $38.1m $38.1m 0.31% Reduced -23.7k -23,687
66 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 526,234526.2k $36.3m $36.3m 0.02% Added +987 +987
67 NATIONAL BANK OF CANADA /FI/ 0.04% of their portfolio MONTREAL, A8 506,146506.1k $35.0m $35.0m 0.04% Added +142.6k +142,608
68 OPPENHEIMER ASSET MANAGEMENT INC. 0.39% of their portfolio NEW YORK, NY 493,724493.7k $34.1m $34.1m 0.39% Added +23.2k +23,159
69 NICHOLS & PRATT ADVISERS LLP /MA 2.28% of their portfolio BOSTON, MA 492,056492.1k $34.0m $34.0m 2.28% Added +10.7k +10,742
70 COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio WALTHAM, MA 475,027475.0k $32.8m $32.8m 0.04% Added +95.8k +95,756
71 BROWN BROTHERS HARRIMAN & CO 0.20% of their portfolio NEW YORK, NY 457,186457.2k $31.6m $31.6m 0.20% Added +3.7k +3,731
72 Vantage Investment Partners, LLC 2.28% of their portfolio KANSAS CITY, MO 454,124454.1k $31.3m $31.3m 2.28% Reduced -5.6k -5,563
73 JIA INVESTMENT ALLIANCE PTE. LTD. 3.12% of their portfolio SINGAPORE, U0 426,700426.7k $29.5m $29.5m 3.12% Unchanged
74 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 419,691419.7k $29.0m $29.0m 0.00% Added +87.5k +87,467
75 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 414,769414.8k $28.6m $28.6m 0.03% Reduced -36.3k -36,262
76 MayTech Global Investments, LLC 2.76% of their portfolio New York, NY 410,241410.2k $26.7m $26.7m 2.76% Added +22.7k +22,710
77 Traynor Capital Management, Inc. 1.98% of their portfolio MALVERN, PA 399,299399.3k $27.9m $27.9m 1.98% Added +44.2k +44,223
78 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 396,472396.5k $27.4m $27.4m 0.02% Reduced -1.3m -1,321,926
79 Obermeyer Wealth Partners 1.35% of their portfolio ASPEN, CO 393,332393.3k $27.1m $27.1m 1.35% Added +257.2k +257,158
80 Mariner, LLC 0.04% of their portfolio Overland Park, KS 378,667378.7k $26.1m $26.1m 0.04% Added +7.4k +7,406
81 Prospera Financial Services Inc 0.49% of their portfolio Dallas, TX 378,006378.0k $26.1m $26.1m 0.49% Added +275.1k +275,104
82 Warther Private Wealth, LLC 6.83% of their portfolio AKRON, OH 377,732377.7k $26.1m $26.1m 6.83% Added +123.4k +123,392
83 Optiver Holding B.V. 0.70% of their portfolio AMSTERDAM, P7 376,802376.8k $26.0m $26.0m 0.70% Added +280.7k +280,727
84 Holocene Advisors, LP 0.06% of their portfolio New York, NY 373,010373.0k $25.7m $25.7m 0.06% New
85 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 372,131372.1k $25.7m $25.7m 0.02% Added +71.8k +71,786
86 OSAIC HOLDINGS, INC. 0.05% of their portfolio SCOTTSDALE, AZ 371,330371.3k $25.7m $25.7m 0.05% Added +113.5k +113,518
87 NOMURA HOLDINGS INC 0.20% of their portfolio TOKYO, M0 367,826367.8k $25.4m $25.4m 0.20% Added +165.0k +164,975
88 ACADEMY CAPITAL MANAGEMENT 3.61% of their portfolio WACO, TX 366,249366.2k $25.3m $25.3m 3.61% Reduced -1.3k -1,325
89 Modera Wealth Management, LLC 0.31% of their portfolio WESTWOOD, NJ 365,751365.8k $25.2m $25.2m 0.31% Added +6.0k +6,045
90 Reynders McVeigh Capital Management, LLC 1.25% of their portfolio BOSTON, MA 363,889363.9k $25.1m $25.1m 1.25% New
91 HighTower Advisors, LLC 0.03% of their portfolio CHICAGO, IL 361,696361.7k $25.0m $25.0m 0.03% Added +28.3k +28,330
92 CAUSEWAY CAPITAL MANAGEMENT LLC 0.39% of their portfolio LOS ANGELES, CA 353,884353.9k $24.4m $24.4m 0.39% New
93 Federation des caisses Desjardins du Quebec 0.11% of their portfolio LEVIS, A8 350,975351.0k $24.2m $24.2m 0.11% Added +242.1k +242,128
94 HM PAYSON & CO 0.38% of their portfolio PORTLAND, ME 348,521348.5k $24.1m $24.1m 0.38% Added +341.5k +341,480
95 CIBC Private Wealth Group LLC 0.04% of their portfolio ATLANTA, GA 345,067345.1k $23.8m $23.8m 0.04% Added +13.4k +13,404
96 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 338,245338.2k $23.2m $23.2m 0.01% Added +59.7k +59,686
97 ACADIAN ASSET MANAGEMENT LLC 0.05% of their portfolio Boston, MA 335,587335.6k $23.1m $23.1m 0.05% Reduced -709.1k -709,071
98 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 325,922325.9k $22.5m $22.5m 0.01% Reduced -160.1k -160,080
99 Leonteq Securities AG 1.30% of their portfolio ZURICH, V8 320,180320.2k $22.1m $22.1m 1.30% Added +201.2k +201,209
100 Clark Capital Management Group, Inc. 0.15% of their portfolio PHILADELPHIA, PA 318,851318.9k $22.0m $22.0m 0.15% Reduced -291 -291