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NOVO NORDISK A/S 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated 02 October 2026.

56Reported items
196Asset managers
10,879Fund votes
2025-03-27Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore NOVO NORDISK A/S in the interactive database Compare manager voting policies

How asset managers voted at the NOVO NORDISK A/S 2024-2025 meeting

Each item below shows how the 196 asset managers that disclosed a NOVO NORDISK A/S vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of NOVO NORDISK A/S’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Approve Remuneration Report (Advisory Vote)

COMPENSATION

99.9% fund support · no official result

FOR 99.8%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (431,429,710 for, 346,933 against).

FOR: 431,429,710 (99.8%)AGAINST: 346,933 (0.1%)NOT VOTED: 336,703 (0.1%)

Largest asset managers voting on “Approve Remuneration Report (Advisory Vote)” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
JPMorgan	20,576,957	For
Goldman Sachs	15,128,002	For
APG Asset Management US Inc.	15,010,285	For
INVESTMENT CO OF AMERICA	14,922,850	For
Walter Scott & Partners Ltd	14,320,337	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

2. Approve Remuneration Level of Directors for 2025

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 95 asset managers below cast 99.9% of the shares they voted on this item FOR (380,820,693 for, 134,533 against).

FOR: 380,820,693 (100.0%)AGAINST: 134,533 (0.0%)

Largest asset managers voting on “Approve Remuneration Level of Directors for 2025” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 95 asset managers. See all 95 in the interactive database.

3. Approve Remuneration of Directors for 2024

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 95 asset managers below cast 99.9% of the shares they voted on this item FOR (380,820,693 for, 134,533 against).

FOR: 380,820,693 (100.0%)AGAINST: 134,533 (0.0%)

Largest asset managers voting on “Approve Remuneration of Directors for 2024” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 95 asset managers. See all 95 in the interactive database.

4. Accept Financial Statements and Statutory Reports

CORPORATE GOVERNANCE

100% fund support · no official result

FOR 100%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (380,486,077 for, 0 against).

FOR: 380,486,077 (100.0%)

Largest asset managers voting on “Accept Financial Statements and Statutory Reports” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

5. Approve Allocation of Income and Dividends of DKK 7.9 Per Share

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (380,486,077 for, 0 against).

FOR: 380,486,077 (100.0%)

Largest asset managers voting on “Approve Allocation of Income and Dividends of DKK 7.9 Per Share” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

6. Approve Creation of DKK 44.7 Million Pool of Capital with Preemptive Rights; Approve Creation of DKK 44.7 Million Pool of Capital without Preemptive Rights; Maximum Increase in Share Capital under Both Authorizations up to DKK 44.7 Million

CAPITAL STRUCTURE

99.9% fund support · no official result

FOR 99.9%

The 94 asset managers below cast 99.9% of the shares they voted on this item FOR (380,467,786 for, 18,291 against).

FOR: 380,467,786 (100.0%)AGAINST: 18,291 (0.0%)

Largest asset managers voting on “Approve Creation of DKK 44.7 Million Pool of Capital with Preemptive Rights; Approve Creation of DKK 44.7 Mill” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

7. Approve Proposal Regarding Regulated Working Conditions at Construction Sites

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE

0% fund support · no official result

AGAINST 99.7%

The 94 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 379,673,313 against).

AGAINST: 379,673,313 (99.8%)ABSTAIN: 812,764 (0.2%)

Largest asset managers voting on “Approve Proposal Regarding Regulated Working Conditions at Construction Sites” at NOVO NORDISK A/S, 2024-2025
Asset manager	Against	Vote
Capital Group	99,037,204	Against
Vanguard	89,221,129	Against
EUPAC FUND	39,274,283	Against
Fidelity	24,782,510	Against
TIAA	22,158,989	Against
Goldman Sachs	15,128,002	Against
INVESTMENT CO OF AMERICA	14,922,850	Against
MFS	11,746,532	Against
Dimensional	6,846,613	Against
State Street	5,411,790	Against
T. Rowe Price	4,043,999	Against
Invesco	3,738,091	Against
NEW ECONOMY FUND	2,925,689	Against
AllianceBernstein	2,804,492	Against
Legg Mason	2,669,566	Against
American Century	2,526,696	Against
BNY Mellon	2,494,287	Against
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	Against
WisdomTree	2,053,938	Against
JANUS INVESTMENT FUND	1,887,455	Against
DWS	1,824,388	Against
Columbia Threadneedle	1,431,195	Against
GMO	1,337,023	Against
Northern Trust	1,312,501	Against
Putnam	1,256,416	Against

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

8. Authorize Share Repurchase Program

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (380,486,077 for, 0 against).

FOR: 380,486,077 (100.0%)

Largest asset managers voting on “Authorize Share Repurchase Program” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

9. Ratify Deloitte as Auditors; Ratify Deloitte as Auditors for Sustainability Reporting

AUDIT-RELATED

100% fund support · no official result

FOR 99.6%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (379,026,072 for, 0 against).

FOR: 379,026,072 (99.6%)ABSTAIN: 1,460,005 (0.4%)

Largest asset managers voting on “Ratify Deloitte as Auditors; Ratify Deloitte as Auditors for Sustainability Reporting” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

10. Reelect Andreas Fibig as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.8%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (379,772,195 for, 0 against).

FOR: 379,772,195 (99.8%)ABSTAIN: 713,882 (0.2%)

Largest asset managers voting on “Reelect Andreas Fibig as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

11. Reelect Christina Law as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.8%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (379,772,195 for, 0 against).

FOR: 379,772,195 (99.8%)ABSTAIN: 713,882 (0.2%)

Largest asset managers voting on “Reelect Christina Law as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

12. Reelect Helge Lund (Chair) as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (375,759,821 for, 0 against).

FOR: 375,759,821 (98.8%)ABSTAIN: 4,726,256 (1.2%)

Largest asset managers voting on “Reelect Helge Lund (Chair) as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
Capital Group	99,037,204	0	For
Vanguard	89,221,129	0	For
EUPAC FUND	39,274,283	0	For
Fidelity	24,782,510	0	For
TIAA	22,158,989	0	For
Goldman Sachs	15,128,002	0	For
INVESTMENT CO OF AMERICA	14,922,850	0	For
MFS	11,746,532	0	For
Dimensional	6,846,613	0	For
State Street	5,411,790	0	For
T. Rowe Price	4,043,999	0	For
Invesco	3,738,091	0	For
NEW ECONOMY FUND	2,925,689	0	For
AllianceBernstein	2,804,492	0	For
Legg Mason	2,604,619	64,947	For
American Century	2,526,696	0	For
BNY Mellon	2,494,287	0	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	0	For
WisdomTree	2,053,938	0	For
JANUS INVESTMENT FUND	1,887,455	0	For
DWS	1,824,388	0	For
Columbia Threadneedle	1,431,195	0	For
GMO	0	1,337,023	Abstain
Northern Trust	1,124,825	187,676	For
Putnam	1,256,416	0	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

13. Reelect Henrik Poulsen (Vice Chair) as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 78%ABSTAIN 22%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (297,370,200 for, 0 against).

FOR: 297,370,200 (78.2%)ABSTAIN: 83,115,877 (21.8%)

Largest asset managers voting on “Reelect Henrik Poulsen (Vice Chair) as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
Capital Group	99,037,204	0	For
Vanguard	89,221,129	0	For
EUPAC FUND	39,274,283	0	For
Fidelity	255,541	24,526,969	Abstain
TIAA	0	22,158,989	Abstain
Goldman Sachs	15,128,002	0	For
INVESTMENT CO OF AMERICA	14,922,850	0	For
MFS	11,746,532	0	For
Dimensional	0	6,846,613	Abstain
State Street	0	5,411,790	Abstain
T. Rowe Price	4,043,999	0	For
Invesco	237,607	3,500,484	Abstain
NEW ECONOMY FUND	2,925,689	0	For
AllianceBernstein	2,804,492	0	For
Legg Mason	2,604,619	64,947	For
American Century	0	2,526,696	Abstain
BNY Mellon	2,316,296	177,991	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	0	For
WisdomTree	0	2,053,938	Abstain
JANUS INVESTMENT FUND	0	1,887,455	Abstain
DWS	0	1,824,388	Abstain
Columbia Threadneedle	1,431,195	0	For
GMO	0	1,337,023	Abstain
Northern Trust	0	1,312,501	Abstain
Putnam	1,256,416	0	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

14. Reelect Kasim Kutay as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 84%ABSTAIN 16%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (318,477,734 for, 0 against).

FOR: 318,477,734 (83.7%)ABSTAIN: 62,008,343 (16.3%)

Largest asset managers voting on “Reelect Kasim Kutay as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
Capital Group	99,037,204	0	For
Vanguard	89,221,129	0	For
EUPAC FUND	39,274,283	0	For
Fidelity	24,526,969	255,541	For
TIAA	0	22,158,989	Abstain
Goldman Sachs	15,003,277	124,725	For
INVESTMENT CO OF AMERICA	14,922,850	0	For
MFS	0	11,746,532	Abstain
Dimensional	0	6,846,613	Abstain
State Street	5,411,790	0	For
T. Rowe Price	4,043,999	0	For
Invesco	3,738,091	0	For
NEW ECONOMY FUND	2,925,689	0	For
AllianceBernstein	2,804,492	0	For
Legg Mason	2,604,619	64,947	For
American Century	0	2,526,696	Abstain
BNY Mellon	2,316,296	177,991	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	0	For
WisdomTree	0	2,053,938	Abstain
JANUS INVESTMENT FUND	0	1,887,455	Abstain
DWS	0	1,824,388	Abstain
Columbia Threadneedle	1,431,195	0	For
GMO	0	1,337,023	Abstain
Northern Trust	0	1,312,501	Abstain
Putnam	1,256,416	0	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

15. Reelect Laurence Debroux as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.6%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (379,194,578 for, 0 against).

FOR: 379,194,578 (99.7%)ABSTAIN: 1,291,499 (0.3%)

Largest asset managers voting on “Reelect Laurence Debroux as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

16. Reelect Martin Mackay as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.7%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (379,589,176 for, 0 against).

FOR: 379,589,176 (99.8%)ABSTAIN: 896,901 (0.2%)

Largest asset managers voting on “Reelect Martin Mackay as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Capital Group	99,037,204	For
Vanguard	89,221,129	For
EUPAC FUND	39,274,283	For
Fidelity	24,782,510	For
TIAA	22,158,989	For
Goldman Sachs	15,128,002	For
INVESTMENT CO OF AMERICA	14,922,850	For
MFS	11,746,532	For
Dimensional	6,846,613	For
State Street	5,411,790	For
T. Rowe Price	4,043,999	For
Invesco	3,738,091	For
NEW ECONOMY FUND	2,925,689	For
AllianceBernstein	2,804,492	For
Legg Mason	2,669,566	For
American Century	2,526,696	For
BNY Mellon	2,494,287	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	For
WisdomTree	2,053,938	For
JANUS INVESTMENT FUND	1,887,455	For
DWS	1,824,388	For
Columbia Threadneedle	1,431,195	For
GMO	1,337,023	For
Northern Trust	1,312,501	For
Putnam	1,256,416	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

17. Reelect Sylvie Gregoire as Director

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.7%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (379,516,531 for, 0 against).

FOR: 379,516,531 (99.7%)ABSTAIN: 969,546 (0.3%)

Largest asset managers voting on “Reelect Sylvie Gregoire as Director” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
Capital Group	99,037,204	0	For
Vanguard	89,221,129	0	For
EUPAC FUND	39,274,283	0	For
Fidelity	24,782,510	0	For
TIAA	22,158,989	0	For
Goldman Sachs	15,128,002	0	For
INVESTMENT CO OF AMERICA	14,922,850	0	For
MFS	11,746,532	0	For
Dimensional	6,846,613	0	For
State Street	5,411,790	0	For
T. Rowe Price	4,043,999	0	For
Invesco	3,738,091	0	For
NEW ECONOMY FUND	2,925,689	0	For
AllianceBernstein	2,804,492	0	For
Legg Mason	2,669,566	0	For
American Century	2,526,696	0	For
BNY Mellon	2,494,287	0	For
INTERNATIONAL GROWTH & INCOME FUND	2,410,574	0	For
WisdomTree	2,053,938	0	For
JANUS INVESTMENT FUND	1,887,455	0	For
DWS	1,824,388	0	For
Columbia Threadneedle	1,431,195	0	For
GMO	1,337,023	0	For
Northern Trust	1,124,825	187,676	For
Putnam	1,256,416	0	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

18. PRESENTATION OF AND ADVISORY VOTE ON THE REMUNERATION REPORT 2024

COMPENSATION

Combines 2 wordings of this item as funds reported it.

99.7% fund support · no official result

FOR 99.7%

The 71 asset managers below cast 99.7% of the shares they voted on this item FOR (270,276,191 for, 580,874 against).

FOR: 270,276,191 (99.8%)AGAINST: 580,874 (0.2%)ABSTAIN: 184 (0.0%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “PRESENTATION OF AND ADVISORY VOTE ON THE REMUNERATION REPORT 2024” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Against	Vote
BlackRock	176,048,822	0	For
Six Circles Trust	13,540,394	0	For
National Pension Service	13,347,721	0	For
WCM INVESTMENT MANAGEMENT, LLC	12,411,640	0	For
BAILLIE GIFFORD OVERSEAS LTD	10,591,135	136,922	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Fiera Capital Corp	6,623,663	0	For
BAILLIE GIFFORD & CO LTD	3,852,230	0	For
Bridge Builder Trust	3,111,224	0	For
Korea Investment CORP	2,658,677	0	For
Jackson National	2,177,103	0	For
BAILLIE GIFFORD & CO	1,727,862	0	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	1,049,841	0	For
BAILLIE GIFFORD FUNDS	999,321	0	For
Treasurer of the State of North Carolina	864,179	0	For
1832 Asset Management L.P.	775,446	0	For
Northern Trust	681,136	0	For
ORBIMED ADVISORS LLC	550,200	0	For
JARISLOWSKY, FRASER Ltd	344,690	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Against
Allianz	242,836	0	For
First Trust	210,900	0	For

Showing the 25 largest of 71 asset managers. See all 71 in the interactive database.

19. REMUNERATION: APPROVAL OF THE REMUNERATION LEVEL OF THE BOARD OF DIRECTORS FOR 2025

COMPENSATION

100% fund support · no official result

FOR 99.9%

The 40 asset managers below cast 100% of the shares they voted on this item FOR (99,421,282 for, 0 against).

FOR: 99,421,282 (100.0%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “REMUNERATION: APPROVAL OF THE REMUNERATION LEVEL OF THE BOARD OF DIRECTORS FOR 2025” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
LOCKHEED MARTIN INVESTMENT MANAGEMENT CO	55,560	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For

Showing the 25 largest of 40 asset managers. See all 40 in the interactive database.

20. REMUNERATION: APPROVAL OF THE REMUNERATION OF THE BOARD OF DIRECTORS FOR 2024

COMPENSATION

100% fund support · no official result

FOR 99.9%

The 40 asset managers below cast 100% of the shares they voted on this item FOR (99,421,282 for, 0 against).

FOR: 99,421,282 (100.0%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “REMUNERATION: APPROVAL OF THE REMUNERATION OF THE BOARD OF DIRECTORS FOR 2024” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
LOCKHEED MARTIN INVESTMENT MANAGEMENT CO	55,560	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For

Showing the 25 largest of 40 asset managers. See all 40 in the interactive database.

21. APPOINTMENT OF AUDITOR: RE- APPOINTMENT OF DELOITTE STATSAUTORISERET REVISIONSPARTNERSELSKAB

AUDIT-RELATED

100% fund support · no official result

FOR 99.3%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (98,736,585 for, 0 against).

FOR: 98,736,585 (99.4%)ABSTAIN: 629,137 (0.6%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “APPOINTMENT OF AUDITOR: RE- APPOINTMENT OF DELOITTE STATSAUTORISERET REVISIONSPARTNERSELSKAB” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	2,775,827	335,397	For
Jackson National	2,177,103	0	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	1,049,841	0	For
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Abstain
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	76,288	0	For
CARILLON SERIES TRUST	65,838	0	For
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

22. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF ANDREAS FIBIG

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.9%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (99,365,722 for, 0 against).

FOR: 99,365,722 (100.0%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF ANDREAS FIBIG” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For
Tema ETF Trust	34,508	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

23. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF CHRISTINA LAW

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.9%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (99,365,722 for, 0 against).

FOR: 99,365,722 (100.0%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF CHRISTINA LAW” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For
Tema ETF Trust	34,508	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

24. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF HELGE LUND AS CHAIR

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 24%ABSTAIN 76%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (24,162,456 for, 0 against).

FOR: 24,162,456 (24.3%)ABSTAIN: 75,203,266 (75.7%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF HELGE LUND AS CHAIR” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	0	59,662,760	Abstain
Six Circles Trust	0	13,540,394	Abstain
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	2,925,002	186,222	For
Jackson National	1,535,879	641,224	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	959,863	89,978	For
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	0	327,690	Abstain
Natixis	32,468	293,740	Abstain
Allianz	0	242,836	Abstain
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	0	111,314	Abstain
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	0	92,330	Abstain
PFM Multi-Manager Series Trust	76,288	0	For
CARILLON SERIES TRUST	65,838	0	For
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

25. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF HENRIK POULSEN AS VICE CHAIR

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 95%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (94,842,365 for, 0 against).

FOR: 94,842,365 (95.4%)ABSTAIN: 4,523,357 (4.6%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF HENRIK POULSEN AS VICE CHAIR” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	1,553,152	1,558,072	Abstain
Jackson National	1,819,259	357,844	For
HARBOR FUNDS	18,896	1,191,383	Abstain
John Hancock	19,286	1,030,555	Abstain
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Abstain
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	60,390	15,898	For
CARILLON SERIES TRUST	0	65,838	Abstain
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

26. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF KASIM KUTAY

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 96%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (95,175,767 for, 0 against).

FOR: 95,175,767 (95.8%)ABSTAIN: 4,189,955 (4.2%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF KASIM KUTAY” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	1,553,152	1,558,072	Abstain
Jackson National	2,040,546	136,557	For
HARBOR FUNDS	18,896	1,191,383	Abstain
John Hancock	131,401	918,440	Abstain
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Abstain
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	60,390	15,898	For
CARILLON SERIES TRUST	0	65,838	Abstain
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

27. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF LAURENCE DEBROUX

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.6%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (99,071,982 for, 0 against).

FOR: 99,071,982 (99.7%)ABSTAIN: 293,740 (0.3%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF LAURENCE DEBROUX” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	3,111,224	0	For
Jackson National	2,177,103	0	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	1,049,841	0	For
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Abstain
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	76,288	0	For
CARILLON SERIES TRUST	65,838	0	For
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

28. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF MARTIN MACKAY

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.3%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (98,736,585 for, 0 against).

FOR: 98,736,585 (99.4%)ABSTAIN: 629,137 (0.6%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF MARTIN MACKAY” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	2,775,827	335,397	For
Jackson National	2,177,103	0	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	1,049,841	0	For
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Abstain
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	76,288	0	For
CARILLON SERIES TRUST	65,838	0	For
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

29. ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF SYLVIE GREGOIRE

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 99.2%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (98,649,422 for, 0 against).

FOR: 98,649,422 (99.3%)ABSTAIN: 716,300 (0.7%)UNKNOWN: 7,340 (0.0%)

Largest asset managers voting on “ELECTION OF MEMBER TO THE BOARD OF DIRECTOR: RE-ELECTION OF SYLVIE GREGOIRE” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Abstain	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	3,111,224	0	For
Jackson National	1,770,441	406,662	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	1,049,841	0	For
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	32,468	293,740	Abstain
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	102,383	0	For
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	60,390	15,898	For
CARILLON SERIES TRUST	65,838	0	For
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

30. PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREHOLDER: PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREHOLDER: PROPOSAL FROM THE SHAREHOLDER KRITISKE AKTIONAERER ON CONSTRUCTION CONTRACTS

SHAREHOLDER RIGHTS AND DEFENSES

0.1% fund support · no official result

AGAINST 99.8%

The 39 asset managers below cast 0.1% of the shares they voted on this item FOR (7,340 for, 99,263,339 against).

FOR: 7,340 (0.0%)AGAINST: 99,263,339 (99.9%)ABSTAIN: 102,383 (0.1%)

Largest asset managers voting on “PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREH” at NOVO NORDISK A/S, 2024-2025
Asset manager	Against	Abstain	Vote
BlackRock	59,662,760	0	Against
Six Circles Trust	13,540,394	0	Against
Investment Managers Series Trust	8,516,361	0	Against
Vanguard	6,826,330	0	Against
Bridge Builder Trust	3,111,224	0	Against
Jackson National	2,177,103	0	Against
HARBOR FUNDS	1,210,279	0	Against
John Hancock	1,049,841	0	Against
BAILLIE GIFFORD FUNDS	999,321	0	Against
MASTER INVESTMENT PORTFOLIO	327,690	0	Against
Natixis	326,208	0	Against
Allianz	242,836	0	Against
First Trust	210,900	0	Against
Harbor ETF Trust	165,850	0	Against
Brighthouse	148,777	0	Against
Managed Account Series	111,314	0	Against
GREEN CENTURY FUNDS	0	102,383	Abstain
Lincoln Financial	92,330	0	Against
PFM Multi-Manager Series Trust	76,288	0	Against
CARILLON SERIES TRUST	65,838	0	Against
Guardian Variable Products Trust	64,379	0	Against
Listed Funds Trust	48,246	0	Against
OPTIMUM FUND TRUST	41,718	0	Against
BUFFALO FUNDS	40,000	0	Against
Tema ETF Trust	34,508	0	Against

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

31. PRESENTATION AND ADOPTION OF THE AUDITED ANNUAL REPORT 2024

AUDIT-RELATED

100% fund support · no official result

FOR 100%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (99,373,062 for, 0 against).

FOR: 99,373,062 (100.0%)

Largest asset managers voting on “PRESENTATION AND ADOPTION OF THE AUDITED ANNUAL REPORT 2024” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For
Tema ETF Trust	34,508	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

32. PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREHOLDER: AUTHORIZATION TO THE BOARD OF DIRECTORS TO ALLOW THE COMPANY TO REPURCHASE OWN SHARES

SHAREHOLDER RIGHTS AND DEFENSES

100% fund support · no official result

FOR 99.9%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (99,365,722 for, 0 against).

FOR: 99,365,722 (100.0%)A: 7,340 (0.0%)

Largest asset managers voting on “PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREHOLDER: AUTHORIZATION TO THE BOARD OF DIRECTORS TO ALLOW THE ” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For
Tema ETF Trust	34,508	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

33. PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREHOLDER: AUTHORIZATION TO THE BOARD OF DIRECTORS TO INCREASE THE COMPANY'S SHARE CAPITAL

SHAREHOLDER RIGHTS AND DEFENSES

Combines 2 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.8%

The 39 asset managers below cast 99.8% of the shares they voted on this item FOR (99,263,339 for, 102,383 against).

FOR: 99,263,339 (99.9%)AGAINST: 102,383 (0.1%)A: 7,340 (0.0%)

Largest asset managers voting on “PROPOSALS FROM THE BOARD OF DIRECTOR AND/OR SHAREHOLDER: AUTHORIZATION TO THE BOARD OF DIRECTORS TO INCREASE T” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Against	Vote
BlackRock	59,662,760	0	For
Six Circles Trust	13,540,394	0	For
Investment Managers Series Trust	8,516,361	0	For
Vanguard	6,826,330	0	For
Bridge Builder Trust	3,111,224	0	For
Jackson National	2,177,103	0	For
HARBOR FUNDS	1,210,279	0	For
John Hancock	1,049,841	0	For
BAILLIE GIFFORD FUNDS	999,321	0	For
MASTER INVESTMENT PORTFOLIO	327,690	0	For
Natixis	326,208	0	For
Allianz	242,836	0	For
First Trust	210,900	0	For
Harbor ETF Trust	165,850	0	For
Brighthouse	148,777	0	For
Managed Account Series	111,314	0	For
GREEN CENTURY FUNDS	0	102,383	Against
Lincoln Financial	92,330	0	For
PFM Multi-Manager Series Trust	76,288	0	For
CARILLON SERIES TRUST	65,838	0	For
Guardian Variable Products Trust	64,379	0	For
Listed Funds Trust	48,246	0	For
OPTIMUM FUND TRUST	41,718	0	For
BUFFALO FUNDS	40,000	0	For
Tema ETF Trust	34,508	0	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

34. RESOLUTION TO DISTRIBUTE THE PROFIT ACCORDING TO THE ADOPTED ANNUAL REPORT 2024

COMPENSATION

100% fund support · no official result

FOR 100%

The 39 asset managers below cast 100% of the shares they voted on this item FOR (99,373,062 for, 0 against).

FOR: 99,373,062 (100.0%)

Largest asset managers voting on “RESOLUTION TO DISTRIBUTE THE PROFIT ACCORDING TO THE ADOPTED ANNUAL REPORT 2024” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
BlackRock	59,662,760	For
Six Circles Trust	13,540,394	For
Investment Managers Series Trust	8,516,361	For
Vanguard	6,826,330	For
Bridge Builder Trust	3,111,224	For
Jackson National	2,177,103	For
HARBOR FUNDS	1,210,279	For
John Hancock	1,049,841	For
BAILLIE GIFFORD FUNDS	999,321	For
MASTER INVESTMENT PORTFOLIO	327,690	For
Natixis	326,208	For
Allianz	242,836	For
First Trust	210,900	For
Harbor ETF Trust	165,850	For
Brighthouse	148,777	For
Managed Account Series	111,314	For
GREEN CENTURY FUNDS	102,383	For
Lincoln Financial	92,330	For
PFM Multi-Manager Series Trust	76,288	For
CARILLON SERIES TRUST	65,838	For
Guardian Variable Products Trust	64,379	For
Listed Funds Trust	48,246	For
OPTIMUM FUND TRUST	41,718	For
BUFFALO FUNDS	40,000	For
Tema ETF Trust	34,508	For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

35. Remuneration Report

SECTION 14A SAY-ON-PAY VOTES

100% fund support · no official result

FOR 100%

The 31 asset managers below cast 100% of the shares they voted on this item FOR (47,888,481 for, 0 against).

FOR: 47,888,481 (100.0%)

Largest asset managers voting on “Remuneration Report” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Vanguard	23,247,882	For
Charles Schwab	9,009,135	For
Union Investment Privatfonds GmbH	6,281,117	For
Prudential/PGIM	3,835,043	For
Russell Investments	1,089,494	For
Hartford	1,078,954	For
FAYEZ SAROFIM & CO	633,065	For
SEI	521,173	For
Neuberger Berman	316,278	For
Fidelity	306,430	For
IMPAX FUNDS SERIES TRUST I	284,393	For
Union Investment Institutional GmbH	234,149	For
ALGERT GLOBAL LLC	201,798	For
Mercer Funds	192,730	For
Federated Hermes	177,858	For
Nationwide	84,783	For
PACE SELECT ADVISORS TRUST	81,968	For
GUINNESS ATKINSON FUNDS	67,489	For
IMPAX FUNDS SERIES TRUST III	54,678	For
New York Life	37,080	For
Morgan Stanley	34,798	For
SEI Exchange Traded Funds	27,431	For
Brown Capital Management Mutual Funds	24,561	For
Equitable	19,056	For
Global X	13,440	For

Showing the 25 largest of 31 asset managers. See all 31 in the interactive database.

36. Directors' Fees (2024)

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 30 asset managers below cast 99.9% of the shares they voted on this item FOR (47,676,399 for, 10,284 against).

FOR: 47,676,399 (100.0%)AGAINST: 10,284 (0.0%)

Largest asset managers voting on “Directors' Fees (2024)” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Vanguard	23,247,882	For
Charles Schwab	9,009,135	For
Union Investment Privatfonds GmbH	6,281,117	For
Prudential/PGIM	3,835,043	For
Russell Investments	1,089,494	For
Hartford	1,078,954	For
FAYEZ SAROFIM & CO	633,065	For
SEI	521,173	For
Neuberger Berman	316,278	For
Fidelity	306,430	For
IMPAX FUNDS SERIES TRUST I	284,393	For
Union Investment Institutional GmbH	234,149	For
Mercer Funds	192,730	For
Federated Hermes	177,858	For
Nationwide	84,783	For
PACE SELECT ADVISORS TRUST	81,968	For
GUINNESS ATKINSON FUNDS	67,489	For
IMPAX FUNDS SERIES TRUST III	54,678	For
New York Life	37,080	For
Morgan Stanley	34,798	For
SEI Exchange Traded Funds	27,431	For
Brown Capital Management Mutual Funds	24,561	For
Equitable	19,056	For
Global X	13,440	For
Brighthouse	13,333	For

Showing the 25 largest of 30 asset managers. See all 30 in the interactive database.

37. Directors' Fees (2025)

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 30 asset managers below cast 99.9% of the shares they voted on this item FOR (47,676,399 for, 10,284 against).

FOR: 47,676,399 (100.0%)AGAINST: 10,284 (0.0%)

Largest asset managers voting on “Directors' Fees (2025)” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Vanguard	23,247,882	For
Charles Schwab	9,009,135	For
Union Investment Privatfonds GmbH	6,281,117	For
Prudential/PGIM	3,835,043	For
Russell Investments	1,089,494	For
Hartford	1,078,954	For
FAYEZ SAROFIM & CO	633,065	For
SEI	521,173	For
Neuberger Berman	316,278	For
Fidelity	306,430	For
IMPAX FUNDS SERIES TRUST I	284,393	For
Union Investment Institutional GmbH	234,149	For
Mercer Funds	192,730	For
Federated Hermes	177,858	For
Nationwide	84,783	For
PACE SELECT ADVISORS TRUST	81,968	For
GUINNESS ATKINSON FUNDS	67,489	For
IMPAX FUNDS SERIES TRUST III	54,678	For
New York Life	37,080	For
Morgan Stanley	34,798	For
SEI Exchange Traded Funds	27,431	For
Brown Capital Management Mutual Funds	24,561	For
Equitable	19,056	For
Global X	13,440	For
Brighthouse	13,333	For

Showing the 25 largest of 30 asset managers. See all 30 in the interactive database.

38. Accounts and Reports

CORPORATE GOVERNANCE

100% fund support · no official result

FOR 100%

The 27 asset managers below cast 100% of the shares they voted on this item FOR (40,538,352 for, 0 against).

FOR: 40,538,352 (100.0%)

Largest asset managers voting on “Accounts and Reports” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Vanguard	23,247,882	For
Charles Schwab	9,009,135	For
Prudential/PGIM	3,835,043	For
Russell Investments	1,089,494	For
Hartford	1,078,954	For
SEI	521,173	For
Neuberger Berman	316,278	For
Fidelity	306,430	For
IMPAX FUNDS SERIES TRUST I	284,393	For
Mercer Funds	192,730	For
Federated Hermes	177,858	For
Nationwide	84,783	For
PACE SELECT ADVISORS TRUST	81,968	For
GUINNESS ATKINSON FUNDS	67,489	For
IMPAX FUNDS SERIES TRUST III	54,678	For
New York Life	37,080	For
Morgan Stanley	34,798	For
SEI Exchange Traded Funds	27,431	For
Brown Capital Management Mutual Funds	24,561	For
Equitable	19,056	For
Global X	13,440	For
Brighthouse	13,333	For
DOMINI INVESTMENT TRUST	10,284	For
Adviser Managed Trust	4,361	For
Principal	2,644	For

Showing the 25 largest of 27 asset managers. See all 27 in the interactive database.

39. Allocation of Profits/Dividends

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 27 asset managers below cast 100% of the shares they voted on this item FOR (40,538,352 for, 0 against).

FOR: 40,538,352 (100.0%)

Largest asset managers voting on “Allocation of Profits/Dividends” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Vote
Vanguard	23,247,882	For
Charles Schwab	9,009,135	For
Prudential/PGIM	3,835,043	For
Russell Investments	1,089,494	For
Hartford	1,078,954	For
SEI	521,173	For
Neuberger Berman	316,278	For
Fidelity	306,430	For
IMPAX FUNDS SERIES TRUST I	284,393	For
Mercer Funds	192,730	For
Federated Hermes	177,858	For
Nationwide	84,783	For
PACE SELECT ADVISORS TRUST	81,968	For
GUINNESS ATKINSON FUNDS	67,489	For
IMPAX FUNDS SERIES TRUST III	54,678	For
New York Life	37,080	For
Morgan Stanley	34,798	For
SEI Exchange Traded Funds	27,431	For
Brown Capital Management Mutual Funds	24,561	For
Equitable	19,056	For
Global X	13,440	For
Brighthouse	13,333	For
DOMINI INVESTMENT TRUST	10,284	For
Adviser Managed Trust	4,361	For
Principal	2,644	For

Showing the 25 largest of 27 asset managers. See all 27 in the interactive database.

40. Appointment of Auditor; Appointment of Auditor for Sustainability Reporting

AUDIT-RELATED

99.8% fund support · no official result

FOR 99.8%

The 27 asset managers below cast 99.8% of the shares they voted on this item FOR (40,460,579 for, 77,773 against).

FOR: 40,460,579 (99.8%)AGAINST: 77,773 (0.2%)

Largest asset managers voting on “Appointment of Auditor; Appointment of Auditor for Sustainability Reporting” at NOVO NORDISK A/S, 2024-2025
Asset manager	For	Against	Vote
Vanguard	23,247,882	0	For
Charles Schwab	9,009,135	0	For
Prudential/PGIM	3,835,043	0	For
Russell Investments	1,089,494	0	For
Hartford	1,078,954	0	For
SEI	521,173	0	For
Neuberger Berman	316,278	0	For
Fidelity	306,430	0	For
IMPAX FUNDS SERIES TRUST I	284,393	0	For
Mercer Funds	192,730	0	For
Federated Hermes	177,858	0	For
Nationwide	84,783	0	For
PACE SELECT ADVISORS TRUST	81,968	0	For
GUINNESS ATKINSON FUNDS	0	67,489	Against
IMPAX FUNDS SERIES TRUST III	54,678	0	For
New York Life	37,080	0	For
Morgan Stanley	34,798	0	For
SEI Exchange Traded Funds	27,431	0	For
Brown Capital Management Mutual Funds	24,561	0	For
Equitable	19,056	0	For
Global X	13,440	0	For
Brighthouse	13,333	0	For
DOMINI INVESTMENT TRUST	0	10,284	Against
Adviser Managed Trust	4,361	0	For
Principal	2,644	0	For

Showing the 25 largest of 27 asset managers. See all 27 in the interactive database.

Showing the 40 reported items with the widest manager coverage, of 56 in total. View every item.

Largest NOVO NORDISK A/S shareholders voting in 2024-2025

Ranked by the number of NOVO NORDISK A/S shares each manager voted on the most widely held ballot item of the 2024-2025 meeting.

Top NOVO NORDISK A/S shareholders by shares voted, 2024-2025
#	Asset manager	Shares voted
1	Capital Group	99,037,204
2	Vanguard	89,221,129
3	EUPAC FUND	39,274,283
4	Fidelity	24,782,510
5	TIAA	22,158,989
6	JPMorgan	20,913,660
7	Goldman Sachs	15,128,002
8	APG Asset Management US Inc.	15,010,285
9	INVESTMENT CO OF AMERICA	14,922,850
10	Walter Scott & Partners Ltd	14,320,337

Shown as share counts, not percentages: no shares-outstanding figure has been matched to NOVO NORDISK A/S for the 2024-2025 season, so there is no denominator to divide by.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At NOVO NORDISK A/S's shareholder meeting held 2025-03-27, in the 2024-2025 proxy season, 196 asset managers reported how they voted in their SEC Form N-PX filings, covering 10,879 separate fund positions. Their filings are grouped here into 56 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Approve Remuneration Report (Advisory Vote) — the reporting funds cast 99.9% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

NOVO NORDISK A/S proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.