Letters by company
Novo Nordisk A S
4 letters discussing NVO. Everything written about it on this site is on its ticker page.
- Protean Funds Wide Confidence Intervals Protean Funds argues that position sizing should assume investors will sometimes be confidently wrong, after profit warnings at RaySearch and Devyser. Small Cap added to Devyser, rebuilt MT Højgaard and increased real-estate exposure while trimming Truecaller. Select traded Evolution, shorted Industrivärden and added to its Novo Nordisk short after the ZEUS readout. July 2026 DVYSR $89MEVGGF $15BNVO $168B
- Vltava Fund Sport and Investing (Once Again) Vltava Fund sold Novo Nordisk as its outlook became too difficult to forecast and exited United Rentals after valuation compressed expected returns. It initiated Booking Holdings, AJ Bell, and Rightmove, favoring capital-light platforms with network effects, while warning that private credit’s weak transparency and liquidity mismatch could expose cyclical lending risks. 1/2026 AJB $3BBKNG $118BNVO $168B
- EdgePoint Wealth Management Clones – 3rd quarter, 2024 EdgePoint Global Portfolio argues that global equity funds have crowded into the same mega-cap technology holdings, creating closet-indexing and valuation risk. It favours mid-cap blend businesses, where it sees lower entry valuations and greater room for corporate growth than among the market’s largest companies. 3rd quarter, 2024 AAPL $4.9TAMZN $2.7TAVGO $1.8T
- Protean Funds Previously Unseen Levels Of Monitoring The Situation Protean Funds added selectively to Nordic small-cap holdings after pension-fund restructuring created forced selling, while reducing Select exposure and ending its EUR and DKK hedge. Small Cap sold Lundbeck, Asmodee, Kambi and Xano, and added Coffee Stain, Sinch and MTG while trimming Smartoptics. February 2026 7806 $2.3BACAST $581MARFA $63M
