Sustainable Growth Advisers reported a -1.3% return in Q3 for its U.S. Large Cap Growth Strategy, underperforming the Russell 1000 Growth and S&P 500 indices. The investment objective is to target high-quality growth businesses, but market conditions favored lower-quality stocks. Check out the top five holdings for insights into 2025 picks.

Novo Nordisk A/S (NYSE:NVO) was highlighted in SGA’s Q3 investor letter, showing a one-month return of 6.02% and a 41.86% loss over 52 weeks. The stock closed at $50.88 on Dec 31, 2025, with a market cap of $226.084 billion. SGA liquidated its position in NVO in July 2025.

Novo Nordisk A/S (NYSE:NVO) is not among the 30 most popular stocks among hedge funds, with 50 hedge funds holding it at the end of Q3. While acknowledging its potential, SGA believes certain AI stocks offer better upside potential with lower downside risk. Baird Chautauqua International and Global Growth Fund also shared their views on NVO.

For more insights on Novo Nordisk A/S (NYSE:NVO), check out additional articles and hedge fund investor letters for Q3 2025. Stay informed on the latest market trends and stock analysis to make informed investment decisions. This article is originally published at Insider Monkey.

Read more at Yahoo Finance: Here’s Why SGA U.S. Large Cap Growth Strategy Sold Novo Nordisk (NVO)