Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in NVO held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 31.0M | $1.14B | +86.8% | 0.698% | 0.13% |
| 2 | DODGE & COX | 19.3M | $710.5M | — | 0.435% | 0.39% |
| 3 | LOOMIS SAYLES & CO L P | 17.0M | $625.4M | -0.7% | 0.383% | 0.84% |
| 4 | FRANKLIN RESOURCES INC | 16.1M | $591.1M | +9.4% | 0.362% | 0.14% |
| 5 | Capital International Investors | 11.8M | $424.8M | +5.2% | 0.265% | 0.10% |
| 6 | MORGAN STANLEY | 10.9M | $399.4M | -15.4% | 0.245% | 0.02% |
| 7 | BANK OF AMERICA CORP /DE/ | 10.8M | $395.8M | -9.3% | 0.242% | 0.03% |
| 8 | UBS Group AG | 9.4M | $346.5M | +25.2% | 0.212% | 0.05% |
| 9 | D. E. Shaw & Co., Inc. | 9.3M | $342.2M | +25.0% | 0.210% | 0.32% |
| 10 | FOLKETRYGDFONDET | 9.1M | $333.7M | -10.7% | 0.204% | 5.92% |
| 11 | Fisher Asset Management, LLC | 9.0M | $331.5M | -7.8% | 0.203% | 0.11% |
| 12 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 7.8M | $287.7M | — | 0.176% | 0.16% |
| 13 | TWO SIGMA INVESTMENTS, LP | 6.4M | $236.4M | +959.2% | 0.145% | 0.19% |
| 14 | EVERETT HARRIS & CO /CA/ | 6.4M | $236.1M | +0.3% | 0.145% | 3.04% |
| 15 | STATE FARM MUTUAL AUTOMOBILE INSURANCE CO | 6.1M | $225.7M | 0.0% | 0.138% | 0.18% |
| 16 | STATE STREET CORP | 5.8M | $222.9M | -2.6% | 0.131% | 0.01% |
| 17 | GOLDMAN SACHS GROUP INC | 5.4M | $199.2M | -57.2% | 0.122% | 0.02% |
| 18 | Capital World Investors | 5.2M | $191.3M | +2513.0% | 0.117% | 0.03% |
| 19 | ROYAL BANK OF CANADA | 4.5M | $166.4M | +3.2% | 0.102% | 0.03% |
| 20 | ENVESTNET ASSET MANAGEMENT INC | 4.0M | $145.5M | +42.8% | 0.089% | 0.04% |
| 21 | NORTHERN TRUST CORP | 3.7M | $134.3M | -21.1% | 0.082% | 0.02% |
| 22 | WELLS FARGO & COMPANY/MN | 3.6M | $133.9M | -8.8% | 0.082% | 0.03% |
| 23 | BARCLAYS PLC | 3.6M | $132.0M | — | 0.081% | 0.05% |
| 24 | RAYMOND JAMES FINANCIAL INC | 3.6M | $131.1M | +12.4% | 0.080% | 0.04% |
| 25 | Saratoga Research & Investment Management | 3.4M | $126.3M | +85.5% | 0.077% | 7.17% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in NVO — a direct measure of their conviction.
Filings activity in NVO during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 1,234 | 9.2% | 6.38% | 2.13 pp | $12.45B | 25% |
| Q4 2025 | 1,359 | +0.1% | 8.51% | 0.66 pp | $16.60B | 7.1% |
| Q3 2025 | 1,357 | 6.5% | 9.17% | 2.38 pp | $17.88B | 21% |
| Q2 2025 | 1,451 | 2.7% | 11.55% | +0.48 pp | $22.52B | +4.3% |
| Q1 2025 | 1,492 | 7.2% | 11.07% | 2.86 pp | $21.59B | 21% |
| Q4 2024 | 1,607 | 7.3% | 13.93% | 4.98 pp | $27.16B | 26% |
| Q3 2024 | 1,733 | 3.8% | 18.91% | 4.00 pp | $36.87B | 17% |
| Q2 2024 | 1,801 | — | 22.91% | — | $44.68B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying NVO stock.
Based on Q1 2026 13F filings, institutional ownership of Novo Nordisk A/S stands at 6.4%, held across 1,234 reporting institutions.
SUSQUEHANNA INTERNATIONAL GROUP, LLP is the largest reported institutional holder of NVO, with approximately 31,024,311 shares worth $1.14B as of Q1 2026.
Yes — 3 widely-followed marquee investors appear among the top 25 institutional holders of NVO, including SUSQUEHANNA INTERNATIONAL GROUP, LLP, Fisher Asset Management, LLC, TWO SIGMA INVESTMENTS, LP.
Our composite Smart Money Score for NVO is 35 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
174 institutions opened new positions in NVO during Q1 2026, while 299 fully exited. 153 added to existing positions and 901 trimmed.
NVO institutional ownership fell by 2.13 percentage points quarter-over-quarter, with a net change of -125 holders.
The top 10 institutions account for 42.7% of all reported 13F value in NVO, and the top 25 account for 66.0%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Novo Nordisk A/S (NVO) Institutional Ownership