Billionaire Jim Simons’ 2023 Portfolio: Top 5 Stock Picks

1. Novo Nordisk A/S (NYSE:NVO)

Number of Hedge Fund Holders: 41

Renaissance Technologies’ Stake Value: $1,719,076,000

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company involved in the worldwide research, development, manufacturing, and marketing of pharmaceutical products. On May 4, Novo Nordisk A/S (NYSE:NVO) reported a Q1 GAAP EPS of DKK 8.78 and a revenue of DKK 53.37 billion, up 27.0% on a year-over-year basis. In Q1 2023, Jim Simons’ fund owned 10.80 million shares of the company worth $1.7 billion. Novo Nordisk A/S (NYSE:NVO) is the largest holding in Simons’ 13F portfolio. 

On April 20, Barclays raised the firm’s price target on Novo Nordisk A/S (NYSE:NVO) to DKK 1,350 from DKK 1,200 and maintained an Overweight rating on the shares.

According to Insider Monkey’s fourth quarter database, 41 hedge funds were long Novo Nordisk A/S (NYSE:NVO), compared to 40 funds in the prior quarter. Tom Gayner’s Markel Gayner Asset Management is the biggest stakeholder of the company, with a position worth $140.5 million.

Artisan Global Opportunities Fund made the following comment about Novo Nordisk A/S (NYSE:NVO) in its Q4 2022 investor letter:

“Novo Nordisk A/S (NYSE:NVO) is the global leader in insulin production and diabetes treatment. We believe the company’s drugs for treating diabetes— decreasing blood sugar and weight—have a solid profit cycle runway ahead. However, our core investment thesis is centered around the company’s opportunity in the obesity market with its Wegovy® offering, which is an injectable prescription medication serving as a potentially safer alternative to bariatric surgery. Wegovy® is commercially approved and has the potential to capture a meaningful share of what we expect will be a massive market opportunity considering both the total addressable market combined and the recurring revenue of the medication that must be taken chronically to maintain effectiveness. For the quarter, the company reported 16% growth in sales, but sales within its obesity segment grew by 75%.”

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