Parnassus Investments, an investment management firm, released its “Parnassus Value Equity Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund focuses on owning a concentrated portfolio of U.S. large-cap stocks. For the third quarter of 2025, the fund reported a net return of 7.46% outperforming its benchmark, the Russell 1000 Value Index, which returned 5.33% for the same period. During the quarter, the portfolio reduced its weight in the IT sector to increase holdings in the Health Care sector. The fund’s top 5 holdings are also listed in the letter, showing the firm’s main investment positions heading into 2025.
In its third-quarter 2025 investor letter, Parnassus Value Equity Fund highlighted stocks such as Novo Nordisk A/S (NYSE:NVO). Novo Nordisk A/S (NYSE:NVO) engages in the research and development, manufacture, and distribution of pharmaceutical products. The one-month return of Novo Nordisk A/S (NYSE:NVO) was -0.36%, and its shares lost 53.82% of their value over the last 52 weeks. On December 17, 2025, Novo Nordisk A/S (NYSE:NVO) stock closed at $47.77 per share, with a market capitalization of $212.265 billion.
Parnassus Value Equity Fund stated the following regarding Novo Nordisk A/S (NYSE:NVO) in its third quarter 2025 investor letter:
“Novo Nordisk A/S (NYSE:NVO) shares declined after the company issued a profit warning amid rising competition in the obesity drug market. We maintain our conviction due to the company’s long-term pipeline, with potential catalysts in its oral GLP-1 launch.”
Novo Nordisk A/S (NYSE:NVO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 50 hedge fund portfolios held Novo Nordisk A/S (NYSE:NVO) at the end of the third quarter, which was 45 in the previous quarter. While we acknowledge the potential of Novo Nordisk A/S (NYSE:NVO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Novo Nordisk A/S (NYSE:NVO) and shared GreensKeeper Asset Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 2025 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.
