Rowan Street Capital LLC, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. Over many years, the fund concluded that its sole focus should be on identifying and partnering with visionary CEOs and the best entrepreneurs in the world, preferably in the earlier-to-mid stages of their careers. Rowan Street Capital believes in playing the long-term game with long-term people. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Fundsmith Equity Fund mentioned Novo Nordisk A/S (NYSE:NVO) and explained its insights for the company. Founded in 1923, Novo Nordisk A/S (NYSE:NVO) is a Bagsværd, Denmark-based pharmaceutical company with a $262.7 billion market capitalization. Novo Nordisk A/S (NYSE:NVO) delivered a 3.00% return since the beginning of the year, while its 12-month returns are up by 30.76%. The stock closed at $115.36 per share on July 21, 2022.
Here is what Fundsmith Equity Fund has to say about Novo Nordisk A/S (NYSE:NVO) in its Q2 2022 investor letter:
“What did well for us in the first six months of 2022? It is tempting to observe ‘not a lot’ but here’s one of the five biggest positive contributors to performance: Novo Nordisk. NVO discovered that a drug it had developed for diabetics was also the world’s first really effective weight loss drug.”
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Our calculations show that Novo Nordisk A/S (NYSE:NVO) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Novo Nordisk A/S (NYSE:NVO) was in 31 hedge fund portfolios at the end of the second quarter of 2022, compared to 28 funds in the previous quarter. Novo Nordisk A/S (NYSE:NVO) delivered a 4.16% return in the past 3 months.
In June 2022, we also shared another hedge fund’s views on Novo Nordisk A/S (NYSE:NVO) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.