Fundsmith LLP, an investment management company based in London, released its “Fundsmith Equity Fund” 2023 yearly update. A copy of the same can be downloaded here. In 2023, the Fundsmith Equity Fund rose +12.4 compared to a 16.8% return for the MSCI World Index. In 2023, the Fund underperformed this comparable; however, a longer-term view may be helpful and is undoubtedly better in line with the firm’s investment goals and approach. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Fundsmith Equity Fund featured stocks such as Novo Nordisk A/S (NYSE:NVO) in the 2023 annual investor letter. Headquartered in Bagsvaerd, Denmark, Novo Nordisk A/S (NYSE:NVO) is a healthcare company. On January 18, 2024, Novo Nordisk A/S (NYSE:NVO) stock closed at $107.55 per share. One-month return of Novo Nordisk A/S (NYSE:NVO) was 4.71%, and its shares gained 52.45% of their value over the last 52 weeks. Novo Nordisk A/S (NYSE:NVO) has a market capitalization of $479.384 billion.
Fundsmith Equity Fund stated the following regarding Novo Nordisk A/S (NYSE:NVO) in its 2023 investor letter:
“Novo Nordisk A/S (NYSE:NVO) rose to prominence this year as a result of the wild success of its weight loss drug Wegovy (also known as Ozempic when sold for treating diabetes). However, we have owned the stock for seven years — attracted by its seemingly unusual approach to drug discovery and its ownership structure. We are not aware of another drug company whose stated aim is the eradication of the ailment from which it derives most of its revenues. The controlling stake held by the Novo Nordisk Foundation seems to guarantee a genuine long-term approach to the business. Novo is making its fourth appearance in our top five contributors — this was a successful investment long before the words ‘weight loss’ were uttered in relation to Novo.”
A biopharmaceutical research laboratory filled with scientists, illuminated by the glow of their equipment.
Novo Nordisk A/S (NYSE:NVO) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held Novo Nordisk A/S (NYSE:NVO) at the end of third quarter which was 43 in the previous quarter.
We discussed Novo Nordisk A/S (NYSE:NVO) in another article and shared the list of money-making stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
