# Novo Holdings' real portfolio grew 9.2% while headline AUM fell 35% - Date: 2026-03-20 - Category: Biotech & Life Sciences Novo Holdings had a rough 2025, and its CEO is not pretending otherwise. The Copenhagen-based investment company — which controls the wealth behind Novo Nordisk and the Novo Nordisk Foundation — saw assets under management fall roughly 35% last year, from EUR 142 billion to EUR 93 billion. ---