Artisan Global Opportunities Fund reduced position in Novo Nordisk due to weak performance
From Yahoo Finance: 2025-04-03 07:43:00
Artisan Partners released its Q4 2024 investor letter, noting US equities’ gains and a strong year overall. The Artisan Global Opportunities Fund showed slight weakness in Q4 but a strong absolute return in 2024. Top five holdings for 2024 can be found in the letter, with a -0.99% return for the MSCI All Country World Index.
In Q4 2024, Artisan Global Opportunities Fund highlighted Novo Nordisk A/S (NYSE:NVO), which specializes in pharmaceutical products. The stock saw a one-month return of -22.49% and lost 44.95% over 52 weeks, closing at $68.24 per share on April 2, 2025, with a market cap of $299.636 billion.
The fund’s investor letter discussed Novo Nordisk A/S (NYSE:NVO) in Q4 2024, citing it as a top detractor due to recent weaknesses in its performance. Challenges with pricing discounts and disappointing weight loss results for the CagriSema product led to position reductions in the company’s stock.
Novo Nordisk A/S (NYSE:NVO) was not among the 30 most popular stocks among hedge funds in Q4 2024, with 64 hedge fund portfolios holding it compared to 61 in Q3. While acknowledging its potential, the focus remains on AI stocks for higher returns. Consider exploring AI stocks like NVIDIA for promising investments.
Read more: Artisan Global Opportunities Fund Trimmed its Position in Novo Nordisk A/S (NVO)