Eastover Investment Advisors LLC initiated a new position in Novo Nordisk (NVO -1.59%), acquiring 59,811 shares during the quarter in an estimated $3.32 million trade, according to its October 7, 2025, SEC filing.
What happened
According to a filing with the U.S. Securities and Exchange Commission dated October 7, 2025, Eastover Investment Advisors LLC established a new position in Novo Nordisk, purchasing 59,811 shares during the quarter. The estimated investment totaled $3.32 million for the period ended September 30, 2025. Novo Nordisk now accounts for 1.4% of the fund’s $229.98 million in reportable U.S. equity holdings as of September 30, 2025.
What else to know
This is a new position for Eastover Investment Advisors LLC, now representing 1.4% of 13F assets under management.
Top holdings after the filing:
- Broadcom: $15.16 million (6.6% of AUM) as of September 30, 2025
- Apple: $12.92 million (5.6% of AUM) as of September 30, 2025
- Nvidia: $12.85 million (5.6% of AUM) as of September 30, 2025
- Alphabet: $11.44 million (4.98% of AUM) as of September 30, 2025
- Microsoft: $11.41 million (4.96% of AUM) as of September 30, 2025
As of October 6, 2025, shares of Novo Nordisk were priced at $59.65, down 49% year-over-year, underperforming the S&P 500 by 65 percentage points year-over-year.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-10-06) | $59.65 |
| Market capitalization | $263.37 billion |
| Revenue (TTM) | $49.25 billion |
| Net income (TTM) | $17.54 billion |
Company snapshot
Novo Nordisk develops and manufactures pharmaceutical products, including insulin, treatments for obesity, and therapies for rare diseases.
It generates revenue primarily from the sale of diabetes, obesity, and rare disease medications, leveraging a global distribution network and proprietary drug delivery devices.
The company serves healthcare providers, hospitals, and patients worldwide, with a focus on chronic disease management and global market reach.
Novo Nordisk is a global leader in diabetes and obesity care, operating at scale with over 77,000 employees and a market presence spanning multiple continents. Its competitive advantage lies in a diversified product portfolio and advanced drug delivery solutions.
Foolish take
Eastover's new stake in Wegovy and Ozempic manufacturer Novo Nordisk equals roughly 1.4% of its portfolio.
While this is not a massive position size, the new purchase stands in stark contrast to the fact that the firm sold or trimmed 32 of its 48 holdings.
Novo Nordisk holds a leading market share in the diabetes and obesity medicines industry, but is seeing increasing competition as peers like Eli Lilly (and numerous upstarts) try to whittle away at its No. 1 status.
With the market concerned about this burgeoning competition, Novo Nordisk's price-to-earnings (P/E) ratio slid from 50 in 2024 to just 16 today.
Despite this dramatic re-rating, the company still grew revenue by 16% and 19% in its last two quarters, so its growth story is far from over.
Buoyed by its industry leadership, discounted valuation, and promising pipeline beyond its breakthrough medicines, Novo Nordisk seems like an intriguing contrarian investment to make at today's prices.
Glossary
Position: The amount of a particular security or asset held by an investor or fund.
13F reportable assets: Securities that institutional investment managers must disclose in quarterly SEC filings if they exceed $100 million in assets.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a financial institution.
Top holdings: The largest investments in a fund or portfolio, typically ranked by market value.
Quarter: A three-month period used by companies and investors to report and analyze financial performance.
Market presence: The extent to which a company is recognized and operates in different geographic regions or markets.
Proprietary: Owned exclusively by a company, often referring to unique products, technologies, or processes.
Drug delivery devices: Tools or systems designed to administer pharmaceutical compounds to patients effectively and safely.
Stake: The ownership interest or investment a person or institution holds in a company.
Filing: An official document submitted to a regulatory body, such as the SEC, disclosing financial or operational information.
TTM: The 12-month period ending with the most recent quarterly report.
