Polen Capital, an investment management company, released its “Polen Global Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased 11.66% gross and 11.36% net, respectively, compared to an 11.03% increase for the MSCI ACW Index. For the full year, the fund returned 32.38% and 30.92%, gross and net of fees, respectively compared to 22.20% for the index. The Portfolio has, net of fees, outperformed by 33bps during the quarter and by 872bps for the full year. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen Global Growth Strategy featured stocks like Novo Nordisk A/S (NYSE:NVO) in the fourth quarter investor letter. Headquartered in Bagsvaerd, Denmark, Novo Nordisk A/S (NYSE:NVO) is a healthcare company. On February 23, 2024, Novo Nordisk A/S (NYSE:NVO) stock closed at $123.45 per share. One-month return of Novo Nordisk A/S (NYSE:NVO) was 13.24%, and its shares gained 72.22% of their value over the last 52 weeks. Novo Nordisk A/S (NYSE:NVO) has a market capitalization of $552.657 billion.
Polen Global Growth Strategy stated the following regarding Novo Nordisk A/S (NYSE:NVO) in its fourth quarter 2023 investor letter:
“As we discussed in last quarter’s commentary, Novo Nordisk A/S (NYSE:NVO) is a newer addition to the strategy. Over the fourth quarter, we continued to build the position to an average weight. As a reminder, Novo Nordisk is a global pharmaceutical company based in Denmark and has long been the leader in developing insulin for diabetes patients. In recent years, the company’s innovation into GLP-1 drugs has been shown not only to help diabetics control blood sugar levels but also to have significant efficacy in weight loss. Obesity has become a global epidemic, creating materially negative knock-on effects for humans that range from an increase in cardiovascular events and, thus, higher mortality to a lower general quality of life. We believe that, over time, payors will recognize the value of these obesity treatments to both patients and the overall healthcare system.”
An elderly couple receiving insulin from a pharmacist, representing healthcare company’s successful pharmaceutical products.
Novo Nordisk A/S (NYSE:NVO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Novo Nordisk A/S (NYSE:NVO) was held by 58 hedge fund portfolios, up from 51 in the previous quarter, according to our database.
We discussed Novo Nordisk A/S (NYSE:NVO) in another article and shared the list of fastest growing biotech companies in the US. 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.
