# Novo Holdings' real portfolio grew 9.2% while headline AUM fell 35%

- slug: novo-holdings-real-portfolio-grew-92-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.

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