MedWatch

Novo Nordisk is a favorite equity of ultra-profitable hedge fund Renaissance

One of the world's most profitable hedge funds, Renaissance Technologies, owns around DKK 5 billion (EUR 671 million) in Novo Nordisk equities. The hedge fund's initial investment in Novo Nordisk was made in 2005. The fund also owns equities in only one other Danish biotech compnay.

James "Jim" Simons, founder of Renaissance Technologies, has made a fortune on his investment in Novo Nordisk. The photo here is from 2007. | Foto: AP/Mark Lennihan

One of the world's most prolific investors – a real money machine – is behind the hedge fund Renaissance Technologies, which Bloomberg calls "one of the world's most profitable hedge funds. The company has a special affinity for the Danish pharmaceutical giant Novo Nordisk, shows a new security filing of the company's equity positions registered with the US Securities and Exchange Commission on March 31.

At the time, Renaissance Technologies owned Novo equities for DKK 5.4 billion, thus making Novo the fourth-largest of hedge fund's equity positions.

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