<div id="readability-page-1"><p>Eastover Investment Advisors LLC initiated a new position in <strong>Novo Nordisk </strong><span>(NVO<span> -1.53%</span>)</span>, acquiring 59,811 shares during the quarter in an estimated $3.32 million trade, according to its October 7, 2025, SEC filing.</p><h2 id="what-happened">What happened</h2><p>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.</p><h2 id="what-else-to-know">What else to know</h2><p>This is a new position for Eastover Investment Advisors LLC, now representing 1.4% of 13F assets under management.</p><p>Top holdings after the filing:</p><ul><li><strong>Broadcom</strong>: $15.16 million (6.6% of AUM) as of September 30, 2025</li><li><strong>Apple</strong>: $12.92 million (5.6% of AUM) as of September 30, 2025</li><li><strong>Nvidia</strong>: $12.85 million (5.6% of AUM) as of September 30, 2025</li><li><strong>Alphabet</strong>: $11.44 million (4.98% of AUM) as of September 30, 2025</li><li><strong>Microsoft</strong>: $11.41 million (4.96% of AUM) as of September 30, 2025</li></ul><p>As of October 6, 2025, shares of Novo Nordisk were priced at $59.65, down 49% year-over-year, underperforming the S&amp;P 500 by 65 percentage points year-over-year.</p><h2 id="company-overview">Company Overview</h2><div><table><tbody><tr><th>Metric</th><th>Value</th></tr><tr><td>Price (as of market close 2025-10-06)</td><td>$59.65</td></tr><tr><td>Market capitalization</td><td>$263.37 billion</td></tr><tr><td>Revenue (TTM)</td><td>$49.25 billion</td></tr><tr><td>Net income (TTM)</td><td>$17.54 billion</td></tr></tbody></table></div><h2 id="company-snapshot">Company snapshot</h2><p>Novo Nordisk develops and manufactures pharmaceutical products, including insulin, treatments for obesity, and therapies for rare diseases.</p><p>It generates revenue primarily from the sale of diabetes, obesity, and rare disease medications, leveraging a global distribution network and proprietary drug delivery devices.</p><p>The company serves healthcare providers, hospitals, and patients worldwide, with a focus on chronic disease management and global market reach.</p><p>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.</p><h2 id="foolish-take">Foolish take</h2><p>Eastover's new stake in Wegovy and Ozempic manufacturer Novo Nordisk equals roughly 1.4% of its portfolio.</p><p>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.</p><p>Novo Nordisk holds a leading market share in the diabetes and obesity medicines industry, but is seeing increasing competition as peers like <strong>Eli Lilly</strong> (and numerous upstarts) try to whittle away at its No. 1 status.</p><p>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.</p><p>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.</p><p>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.</p><h2 id="glossary">Glossary</h2><p><strong>Position: </strong>The amount of a particular security or asset held by an investor or fund.<br/><strong>13F reportable assets: </strong>Securities that institutional investment managers must disclose in quarterly SEC filings if they exceed $100 million in assets.<br/><strong>Assets under management (AUM): </strong>The total market value of investments managed on behalf of clients by a financial institution.<br/><strong>Top holdings: </strong>The largest investments in a fund or portfolio, typically ranked by market value.<br/><strong>Quarter: </strong>A three-month period used by companies and investors to report and analyze financial performance.<br/><strong>Market presence: </strong>The extent to which a company is recognized and operates in different geographic regions or markets.<br/><strong>Proprietary: </strong>Owned exclusively by a company, often referring to unique products, technologies, or processes.<br/><strong>Drug delivery devices: </strong>Tools or systems designed to administer pharmaceutical compounds to patients effectively and safely.<br/><strong>Stake: </strong>The ownership interest or investment a person or institution holds in a company.<br/><strong>Filing: </strong>An official document submitted to a regulatory body, such as the SEC, disclosing financial or operational information.<br/><strong>TTM: </strong>The 12-month period ending with the most recent quarterly report.<br/></p>                                                                            </div>

<p>Eastover Investment Advisors LLC has initiated a new position in Novo Nordisk, acquiring 59,811 shares for approximately $3.32 million, representing 1.4% of its $229.98 million U.S. equity holdings as of September 30, 2025. Despite a 49% year-over-year decline in share price, Novo Nordisk continues to grow revenue, making it a potentially attractive investment amid increasing competition in the diabetes and obesity medication market.</p>

Eastover Opens a Brand New $3.3 Million Novo Nordisk Position