How is hedge fund similarity measured?

Similarity is computed from each fund's top conviction holdings in their latest 13F filing. Funds are scored by the overlap of distinctive shared positions (the mega-caps that nearly every fund owns are excluded), so the ranking reflects genuinely shared strategy rather than common index exposure.

Hedge Funds Similar to Novo A/S

13F Portfolio OverlapQ1 2026Novo A/S portfolio →

Institutional-grade research for retail investors

Most similar hedge funds by 13F overlap

Novo Holdings A/S is an institutional investor managing $1.2B across 22 U.S. equity positions as of Q1 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to Novo A/S are ORBIMED ADVISORS, Trails Edge Partners,, Elmind ,, with shared positions in $EWTX, $ELVN, $AVBP, $XENE, $CRNX, $MIRM. The full ranking of 25 similar funds is below.

#1ORBIMED ADVISORS LLCActive

Notable overlap · 5 shared positions

$EWTX $ELVN $AVBP $XENE $CRNX

$5.0B

112 positions

#2Trails Edge Capital Partners, LPActive

Notable overlap · 4 shared positions

$MIRM $PCVX $FDMT $XENE

$437M

27 positions

#3Elmind Capital, LPActive

Notable overlap · 6 shared positions

$PCVX $PHVS $CLDX $VRDN $BMRN $EWTX

$352M

34 positions

#4First Turn Management, LLCActive

Notable overlap · 5 shared positions

$MIRM $APGE $ELVN $XENE $VRDN

$895M

33 positions

#5Paradigm Biocapital Advisors LPActive

Notable overlap · 6 shared positions

$EWTX $PCVX $APGE $VRDN $MIRM $BBOT

$4.9B

35 positions

#6Commodore Capital LPActive

Notable overlap · 4 shared positions

$ELVN $PHVS $CLDX $XENE

$1.7B

36 positions

#75AM Venture Management, LLCActive

Notable overlap · 3 shared positions

$MPLT $PHVS $CLDX

$360M

20 positions

#8Jones Hill Capital LPActive

Notable overlap · 5 shared positions

$ELVN $PCVX $BMRN $PHVS $AVBP

$466M

26 positions

#9Bellevue Group AGActive

Notable overlap · 6 shared positions

$VRDN $CRNX $ELVN $PCVX $EWTX $CLDX

$4.2B

155 positions

#10Vestal Point Capital, LPActive

Notable overlap · 5 shared positions

$ELVN $BMRN $APGE $CLDX $XENE

$3.6B

90 positions

#11Kynam Capital Management, LPActive

Notable overlap · 4 shared positions

$PCVX $CLDX $VRDN $PHVS

$1.6B

39 positions

#12Rock Springs Capital Management LPActive

Notable overlap · 5 shared positions

$MIRM $XENE $ELVN $CLDX $PHVS

$1.7B

100 positions

#13First Light Asset Management, LLCActive

Notable overlap · 5 shared positions

$CRNX $APGE $EWTX $PCVX $ELVN

$1.1B

35 positions

#14Octagon Capital Advisors LPActive

Notable overlap · 5 shared positions

$AVBP $MIRM $XENE $BBOT $PHVS

$904M

29 positions

#15Seven Fleet Capital Management LPActive

Notable overlap · 4 shared positions

$ELVN $PCVX $PHVS $AVBP

$315M

114 positions

#16SUPERSTRING CAPITAL MANAGEMENT LPActive

Notable overlap · 3 shared positions

$PCVX $CLDX $MPLT

$140M

35 positions

#17Patient Square Capital LPSmart money

Notable overlap · 4 shared positions

$MIRM $PHVS $XENE $ELVN

$564M

29 positions

#18Palo Alto Investors LPActive

Notable overlap · 4 shared positions

$MIRM $BMRN $CLDX $XENE

$654M

51 positions

#19Rosalind Advisors, Inc.Active

Notable overlap · 3 shared positions

$PCVX $CLDX $VRDN

$249M

38 positions

#20Eversept Partners, LPActive

Notable overlap · 5 shared positions

$PCVX $CLDX $VRDN $BMRN $PHVS

$1.9B

120 positions

#21Fairmount Funds Management LLCSmart money

Notable overlap · 3 shared positions

$ELVN $VRDN $APGE

$1.4B

12 positions

#22Siren, L.L.C.Active

Notable overlap · 4 shared positions

$EWTX $XENE $CRNX $ELVN

$3.6B

100 positions

#23Cormorant Asset Management, LPActive

Notable overlap · 4 shared positions

$EWTX $BBOT $PHVS $CRNX

$2.0B

47 positions

#24BRAIDWELL LPPassive

Notable overlap · 5 shared positions

$EWTX $XENE $CLDX $APGE $BMRN

$3.0B

88 positions

#25VR Adviser, LLCSmart money

Notable overlap · 3 shared positions

$APGE $VRDN $ELVN

$2.7B

33 positions

Compare Novo A/S’s portfolio side by side

See the exact shared positions, conviction overlap, sector alignment, and where these funds diverge — and run the same analysis on any of 8,700+ institutions.

View Novo A/S’s holdings

Similarity is derived from each fund’s latest 13F-HR filing with the SEC. Funds are ranked by the overlap of distinctive conviction holdings; near-universal mega-cap positions are excluded so the ranking reflects shared strategy, not common index exposure. Data is informational only and not investment advice.