Vault-13

NOVO-NORDISK A S NVO

ADR · ADR · CUSIP 670100205 · ISIN US6701002056

1,278 institutional holders -140 vs Q4 2025
325,463,353325.5m shares reported held*
$12.0bnreported value*
124 new 446 added 476 reduced 274 sold out net bought ≈ $335.9m (+9.3m 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 ($23.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $36.73. Options: 63 managers hold calls ($1.4bn notional), 46 hold puts ($2.1bn).

Trends to Q1 2026

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: 1,485Q3 25: 1,400Q4 25: 1,418Q1 26: 1,2781,278Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 20251,400
Q4 20251,418
Q1 20261,278

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ2 24: 952 bought or addedQ2 24: 665 cut or sold outQ3 24: 825 bought or addedQ3 24: 854 cut or sold outQ3 24Q4 24: 695 bought or addedQ4 24: 932 cut or sold outQ1 25: 751 bought or addedQ1 25: 807 cut or sold outQ1 25Q2 25: 701 bought or addedQ2 25: 729 cut or sold outQ3 25: 649 bought or addedQ3 25: 776 cut or sold outQ3 25Q4 25: 587 bought or addedQ4 25: 752 cut or sold outQ1 26: 570 bought or addedQ1 26: 750 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024952665
Q3 2024825854
Q4 2024695932
Q1 2025751807
Q2 2025701729
Q3 2025649776
Q4 2025587752
Q1 2026570750

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bn$4bnQ2 25 calls: $1.1bnQ2 25 puts: $1.6bnQ2 25P/C 1.44Q3 25 calls: $2.1bnQ3 25 puts: $3.1bnQ3 25P/C 1.49Q4 25 calls: $2.1bnQ4 25 puts: $3.3bnQ4 25P/C 1.62Q1 26 calls: $1.4bnQ1 26 puts: $2.1bnQ1 26P/C 1.49
Numbers
QuarterCallsPutsP/C
Q2 2025$1.1bn$1.6bn1.44
Q3 2025$2.1bn$3.1bn1.49
Q4 2025$2.1bn$3.3bn1.62
Q1 2026$1.4bn$2.1bn1.49

Biggest buyers

Dodge & Cox New +19,333,750+19.3m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +9,884,077+9.9m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP New +7,827,491+7.8m
TWO SIGMA INVESTMENTS, LP Added +5,943,310+5.9m
Capital World Investors Added +5,010,064+5.0m
MARSHALL WACE, LLP Added +2,502,064+2.5m
BARCLAYS PLC Added +2,333,364+2.3m
Defiance ETFs, LLC New +2,192,592+2.2m
MAVERICK CAPITAL LTD New +2,080,121+2.1m
Saratoga Research & Investment Management Added +1,583,763+1.6m

Biggest sellers

FMR LLC Reduced -8,664,705-8.7m
GOLDMAN SACHS GROUP INC Reduced -5,870,393-5.9m
Boston Partners Reduced -5,231,804-5.2m
VOLORIDGE INVESTMENT MANAGEMENT, LLC Sold out -4,807,279-4.8m
CITADEL ADVISORS LLC Reduced -4,674,398-4.7m
DAVENPORT & Co LLC Reduced -2,122,035-2.1m
SG Americas Securities, LLC Reduced -2,063,222-2.1m
MORGAN STANLEY Reduced -1,972,889-2.0m
BANK OF MONTREAL /CAN/ Reduced -1,936,720-1.9m
WCM INVESTMENT MANAGEMENT, LLC Reduced -1,697,295-1.7m

Biggest calls

CITADEL ADVISORS LLC Added $351.7m9.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $169.0m4.6m shares
JANE STREET GROUP, LLC Added $135.1m3.7m shares
SIMPLEX TRADING, LLC Reduced $87.8m2.4m shares
GROUP ONE TRADING LLC Added $84.1m2.3m shares
IMC-Chicago, LLC Reduced $76.7m2.1m shares
UBS Group AG Added $74.2m2.0m shares
D. E. Shaw & Co., Inc. Added $52.6m1.4m shares
Optiver Holding B.V. Reduced $46.2m1.3m shares
Walleye Trading LLC Added $38.4m1.0m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $563.0m15.3m shares
CITADEL ADVISORS LLC Reduced $287.9m7.8m shares
JANE STREET GROUP, LLC Reduced $263.9m7.2m shares
D. E. Shaw & Co., Inc. Added $214.7m5.8m shares
Optiver Holding B.V. Added $126.1m3.4m shares
UBS Group AG Added $104.5m2.8m shares
SIMPLEX TRADING, LLC Reduced $71.0m1.9m shares
IMC-Chicago, LLC Added $68.1m1.9m shares
Point72 Asset Management, L.P. Added $58.8m1.6m shares
Walleye Trading LLC Added $45.2m1.2m 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 Q1 2026

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 Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Dodge & Cox 0.39% of their portfolio San Francisco, CA 19,333,75019.3m $710.5m $710.5m 0.39% New
2 LOOMIS SAYLES & CO L P 0.84% of their portfolio BOSTON, MA 17,017,31517.0m $625.4m $625.4m 0.84% Reduced -118.1k -118,069
3 FRANKLIN RESOURCES INC 0.14% of their portfolio San Mateo, CA 16,083,47916.1m $591.1m $591.1m 0.14% Added +1.4m +1,380,971
4 Capital International Investors 0.10% of their portfolio Los Angeles, CA 11,795,85011.8m $424.8m $424.8m 0.10% Added +584.7k +584,744
5 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.53% of their portfolio BALA CYNWYD, PA 11,106,11111.1m $408.1m $408.1m 0.53% Added +9.9m +9,884,077
6 PRICE T ROWE ASSOCIATES INC /MD/ 0.05% of their portfolio BALTIMORE, MD 11,060,68011.1m $406.5m $406.5m 0.05% Added +1.4m +1,372,418
7 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 10,869,20010.9m $399.4m $399.4m 0.02% Reduced -2.0m -1,972,889
8 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 10,769,69910.8m $395.8m $395.8m 0.03% Reduced -1.1m -1,098,430
9 FOLKETRYGDFONDET 5.92% of their portfolio OSLO, Q8 9,080,8209.1m $333.7m $333.7m 5.92% Reduced -1.1m -1,083,317
10 Fisher Asset Management, LLC 0.11% of their portfolio PLANO, TX 9,021,1039.0m $331.5m $331.5m 0.11% Reduced -763.1k -763,119
11 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.16% of their portfolio BOSTON, MA 7,827,4917.8m $287.7m $287.7m 0.16% New
12 EVERETT HARRIS & CO /CA/ 3.04% of their portfolio LOS ANGELES, CA 6,424,6616.4m $236.1m $236.1m 3.04% Added +17.3k +17,295
13 TWO SIGMA INVESTMENTS, LP 0.19% of their portfolio NEW YORK, NY 6,286,5016.3m $231.0m $231.0m 0.19% Added +5.9m +5,943,310
14 STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.18% of their portfolio BLOOMINGTON, IL 6,142,7786.1m $225.7m $225.7m 0.18% Unchanged
15 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 5,837,1935.8m $222.9m $222.9m 0.01% Reduced -158.9k -158,920
16 Capital World Investors 0.03% of their portfolio LOS ANGELES, CA 5,209,4275.2m $191.3m $191.3m 0.03% Added +5.0m +5,010,064
17 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 5,121,0375.1m $188.2m $188.2m 0.02% Reduced -5.9m -5,870,393
18 UBS Group AG 0.03% of their portfolio ZURICH, V8 4,565,7084.6m $167.8m $167.8m 0.03% Reduced -346.2k -346,183
19 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 4,527,7794.5m $166.4m $166.4m 0.03% Added +141.4k +141,376
20 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 3,959,4304.0m $145.5m $145.5m 0.04% Added +1.2m +1,185,996
21 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 3,654,8563.7m $134.3m $134.3m 0.02% Reduced -974.4k -974,449
22 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 3,642,5993.6m $133.9m $133.9m 0.03% Reduced -349.4k -349,450
23 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 3,531,0053.5m $129.8m $129.8m 0.04% Added +363.9k +363,894
24 Saratoga Research & Investment Management 7.17% of their portfolio SARATOGA, CA 3,436,3293.4m $126.3m $126.3m 7.17% Added +1.6m +1,583,763
25 RENAISSANCE TECHNOLOGIES LLC 0.20% of their portfolio NEW YORK, NY 3,397,1213.4m $124.8m $124.8m 0.20% Added +213.4k +213,443
26 Fayez Sarofim & Co 0.32% of their portfolio Houston, TX 3,395,4793.4m $124.8m $124.8m 0.32% Reduced -839.3k -839,270
27 BARCLAYS PLC 0.04% of their portfolio LONDON, X0 3,283,6363.3m $120.7m $120.7m 0.04% Added +2.3m +2,333,364
28 MARSHALL WACE, LLP 0.12% of their portfolio LONDON, X0 3,046,6113.0m $112.0m $112.0m 0.12% Added +2.5m +2,502,064
29 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,951,3533.0m $108.5m $108.5m 0.00% Reduced -283.5k -283,549
30 Markel Group Inc. 0.88% of their portfolio Glen Allen, VA 2,869,7742.9m $105.5m $105.5m 0.88% Unchanged
31 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,808,8182.8m $99.1m $99.1m 0.01% Reduced -724.8k -724,819
32 CITADEL ADVISORS LLC 0.07% of their portfolio MIAMI, FL 2,736,5252.7m $100.6m $100.6m 0.07% Reduced -4.7m -4,674,398
33 Defiance ETFs, LLC 1.16% of their portfolio NEW YORK, NY 2,192,5922.2m $80.6m $80.6m 1.16% New
34 MAVERICK CAPITAL LTD 0.89% of their portfolio DALLAS, TX 2,080,1212.1m $76.4m $76.4m 0.89% New
35 D. E. Shaw & Co., Inc. 0.06% of their portfolio New York, NY 2,039,1062.0m $74.9m $74.9m 0.06% Added +1.2m +1,193,882
36 JANE STREET GROUP, LLC 0.08% of their portfolio NEW YORK, NY 2,024,0072.0m $74.4m $74.4m 0.08% Reduced -225.0k -224,987
37 NATIXIS 0.30% of their portfolio PARIS, I0 2,005,2852.0m $73.7m $73.7m 0.30% Added +1.2m +1,159,987
38 SATURNA CAPITAL CORP 0.92% of their portfolio BELLINGHAM, WA 1,790,6271.8m $65.8m $65.8m 0.92% Reduced -282.0k -281,992
39 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,747,2251.7m $63.9m $63.9m 0.01% Added +11.0k +11,049
40 Holocene Advisors, LP 0.16% of their portfolio New York, NY 1,745,5801.7m $64.2m $64.2m 0.16% Added +565.1k +565,080
41 VAN ECK ASSOCIATES CORP 0.04% of their portfolio NEW YORK, NY 1,621,4811.6m $59.6m $59.6m 0.04% Reduced -23.7k -23,668
42 CITIGROUP INC 0.04% of their portfolio NEW YORK, NY 1,547,6551.5m $56.9m $56.9m 0.04% Added +141.9k +141,931
43 Rockefeller Capital Management L.P. 0.09% of their portfolio NEW YORK, NY 1,433,0731.4m $52.7m $52.7m 0.09% Added +92.2k +92,215
44 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 1,408,8531.4m $51.8m $51.8m 0.04% Reduced -207.4k -207,412
45 FMR LLC 0.00% of their portfolio BOSTON, MA 1,352,6201.4m $49.7m $49.7m 0.00% Reduced -8.7m -8,664,705
46 NATIXIS ADVISORS, LLC 0.07% of their portfolio Boston, MA 1,339,8751.3m $49.2m $49.2m 0.07% Reduced -1.3m -1,321,363
47 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,322,9291.3m $48.6m $48.6m 0.01% Added +100.3k +100,264
48 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.32% of their portfolio Madrid, U3 1,259,4091.3m $45.1m $45.1m 0.32% Added +913.8k +913,823
49 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 1,250,8481.3m $46.0m $46.0m 0.01% Reduced -75.2k -75,210
50 AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio KANSAS CITY, MO 1,211,3191.2m $44.5m $44.5m 0.02% Added +332.2k +332,167
51 CAUSEWAY CAPITAL MANAGEMENT LLC 0.53% of their portfolio LOS ANGELES, CA 1,174,2131.2m $43.2m $43.2m 0.53% Added +180.4k +180,363
52 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 1,156,4811.2m $42.5m $42.5m 0.04% Reduced -111.2k -111,219
53 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.24% of their portfolio IRVING, TX 1,052,6221.1m $38.7m $38.7m 0.24% Added +404.3k +404,269
54 Quadrature Capital Ltd 0.45% of their portfolio LONDON, X0 1,027,7481.0m $37.8m $37.8m 0.45% Reduced -149.2k -149,185
55 Trexquant Investment LP 0.26% of their portfolio STAMFORD, CT 982,773982.8k $36.1m $36.1m 0.26% Added +785.7k +785,722
56 MENORA MIVTACHIM HOLDINGS LTD. 0.16% of their portfolio Ramat Gan, L3 926,168926.2k $34.0m $34.0m 0.16% Added +650.0k +650,000
57 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 899,804899.8k $32.7m $32.7m 0.02% Reduced -18.7k -18,662
58 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 886,476886.5k $32.6m $32.6m 0.00% Added +254.8k +254,787
59 OPPENHEIMER ASSET MANAGEMENT INC. 0.35% of their portfolio NEW YORK, NY 836,460836.5k $30.7m $30.7m 0.35% Added +205.1k +205,055
60 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 811,072811.1k $29.8m $29.8m 0.04% Added +115.9k +115,908
61 WCM INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio LAGUNA BEACH, CA 810,997811.0k $28.6m $28.6m 0.07% Reduced -1.7m -1,697,295
62 IMC-Chicago, LLC 0.45% of their portfolio CHICAGO, IL 802,198802.2k $29.5m $29.5m 0.45% Added +695.0k +694,983
63 SMITH CHAS P & ASSOCIATES PA CPAS 1.60% of their portfolio LAKELAND, FL 801,586801.6k $29.5m $29.5m 1.60% Added +230.9k +230,875
64 Cullen Capital Management, LLC 0.30% of their portfolio New York, NY 792,355792.4k $29.1m $29.1m 0.30% Added +244.8k +244,835
65 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 787,600787.6k $28.9m $28.9m 0.02% Reduced -610.7k -610,692
66 FARALLON CAPITAL MANAGEMENT, L.L.C. 0.17% of their portfolio SAN FRANCISCO, CA 782,000782.0k $28.7m $28.7m 0.17% Not comparable
67 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.09% of their portfolio COLUMBUS, OH 756,509756.5k $27.8m $27.8m 0.09% New
68 ACADEMY CAPITAL MANAGEMENT 3.78% of their portfolio WACO, TX 719,230719.2k $26.4m $26.4m 3.78% Added +353.4k +353,447
69 NATIONAL BANK OF CANADA /FI/ 0.03% of their portfolio MONTREAL, A8 710,082710.1k $26.1m $26.1m 0.03% Reduced -1.4m -1,438,959
70 Marex Group Ltd 0.27% of their portfolio London, X0 703,501703.5k $25.9m $25.9m 0.27% Reduced -302.2k -302,212
71 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 672,999673.0k $23.6m $23.6m 0.03% Reduced -742.4k -742,434
72 Jump Financial, LLC 0.34% of their portfolio Chicago, IL 621,393621.4k $22.8m $22.8m 0.34% New
73 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 589,107589.1k $21.6m $21.6m 0.01% Reduced -1.9m -1,936,720
74 Walleye Capital LLC 0.13% of their portfolio NEW YORK, NY 578,309578.3k $21.3m $21.3m 0.13% Added +77.7k +77,665
75 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 550,628550.6k $20.2m $20.2m 0.04% Reduced -149.5k -149,546
76 CAPITAL FUND MANAGEMENT S.A. 0.18% of their portfolio PARIS, I0 549,373549.4k $20.2m $20.2m 0.18% Added +413.2k +413,171
77 XXEC, Inc. 5.08% of their portfolio TULSA, OK 545,020545.0k $29.0m $29.0m 5.08% Added +452.2k +452,185
78 Warther Private Wealth, LLC 4.48% of their portfolio AKRON, OH 519,480519.5k $19.1m $19.1m 4.48% Added +100.7k +100,652
79 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 486,550486.6k $17.9m $17.9m 0.02% Added +169.9k +169,906
80 Pictet Asset Management Holding SA 0.02% of their portfolio CAROUGE, V8 484,350484.4k $17.8m $17.8m 0.02% New
81 Aberdeen Group plc 0.03% of their portfolio EDINBURGH, X0 481,520481.5k $17.7m $17.7m 0.03% Reduced -133.3k -133,346
82 NICHOLS & PRATT ADVISERS LLP /MA 1.14% of their portfolio BOSTON, MA 480,319480.3k $17.7m $17.7m 1.14% Reduced -7.3k -7,306
83 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 474,483474.5k $17.4m $17.4m 0.02% Reduced -4.1k -4,122
84 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 472,874472.9k $17.4m $17.4m 0.00% Reduced -130.7k -130,726
85 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 472,124472.1k $17.4m $17.4m 0.02% Reduced -2.1m -2,063,222
86 Euro Pacific Asset Management, LLC 2.22% of their portfolio DORADO, PR 467,452467.5k $22.4m $22.4m 2.22% Added +121.4k +121,375
87 NOMURA HOLDINGS INC 0.14% of their portfolio TOKYO, M0 462,909462.9k $17.0m $17.0m 0.14% Added +106.0k +106,023
88 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 451,021451.0k $16.6m $16.6m 0.01% Added +57.7k +57,708
89 ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio Boston, MA 450,464450.5k $16.5m $16.5m 0.02% Added +360.7k +360,735
90 Private Advisory Group LLC 1.15% of their portfolio REDMOND, WA 450,155450.2k $16.5m $16.5m 1.15% Added +217.1k +217,141
91 Quinn Opportunity Partners LLC 0.87% of their portfolio CHARLOTTESVILLE, VA 447,600447.6k $16.4m $16.4m 0.87% Added +118.6k +118,600
92 TUDOR INVESTMENT CORP ET AL 0.09% of their portfolio STAMFORD, CT 440,617440.6k $16.2m $16.2m 0.09% Added +206.3k +206,349
93 BROWN BROTHERS HARRIMAN & CO 0.09% of their portfolio NEW YORK, NY 433,278433.3k $15.9m $15.9m 0.09% Added +78.3k +78,324
94 JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio DES PERES, MO 432,770432.8k $15.6m $15.6m 0.01% Added +280.9k +280,911
95 JIA INVESTMENT ALLIANCE PTE. LTD. 1.64% of their portfolio SINGAPORE, U0 426,700426.7k $15.7m $15.7m 1.64% Unchanged
96 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 423,561423.6k $15.6m $15.6m 0.01% Reduced -45.3k -45,308
97 CORDA Investment Management, LLC. 1.06% of their portfolio HOUSTON, TX 416,924416.9k $15.3m $15.3m 1.06% New
98 Analyst IMS Investment Management Services Ltd. 0.46% of their portfolio Tel-aviv, L3 411,670411.7k $15.1m $15.1m 0.46% Added +405.6k +405,600
99 DIAMANT ASSET MANAGEMENT, INC. 0.29% of their portfolio RIDGEFIELD, CT 401,310401.3k $401.3k $401.3k 0.29% Added +382.5k +382,470
100 Ensign Peak Advisors, Inc 0.03% of their portfolio SALT LAKE CITY, UT 400,384400.4k $14.7m $14.7m 0.03% New