Novartis AG - Depositary Receipt (Common Stock)
US ˙ NYSE ˙ US66987V1098

SecurityNVS / Novartis AG - Depositary Receipt (Common Stock)
InstitutionTocqueville Asset Management L.p.
Latest Disclosed Ownership91,898 shares
Latest Disclosed Value $ 14,037,385
Tocqueville Asset Management L.p. reports 19.97% decrease in ownership of NVS / Novartis AG - Depositary Receipt (Common Stock)

On May 12, 2026 - Tocqueville Asset Management L.p. filed a 13F-HR form disclosing ownership of 91,898 shares of Novartis AG - Depositary Receipt (Common Stock) (US:NVS) valued at $14,037,420 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 114,835 shares of Novartis AG - Depositary Receipt (Common Stock). This represents a change in shares of -19.97% during the quarter. The current value of the position is $13,707,506 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F NOVARTIS SPONSORED ADR 66987V109 91,898 -22,937 -19.97 14,037 -11.34 0.2082
2026-02-12 2025-12-31 13F NOVARTIS SPONSORED ADR 66987V109 114,835 -1,067 -0.92 15,832 6.52 0.2309
2025-11-13 2025-09-30 13F NOVARTIS SPONSORED ADR 66987V109 115,902 -412 -0.35 14,863 5.60 0.2161
2025-08-12 2025-06-30 13F NOVARTIS SPONSORED ADR 66987V109 116,314 -1,179 -1.00 14,075 7.46 0.2143
2025-05-13 2025-03-31 13F NOVARTIS SPONSORED ADR 66987V109 117,493 -1,420 -1.19 13,098 13.20 0.2139
2025-02-10 2024-12-31 13F NOVARTIS SPONSORED ADR 66987V109 118,913 11,395 10.60 11,571 -6.43 0.1815
2024-11-08 2024-09-30 13F NOVARTIS SPONSORED ADR 66987V109 107,518 -2,758 -2.50 12,367 5.34 0.1943
2024-08-12 2024-06-30 13F NOVARTIS SPONSORED ADR 66987V109 110,276 1,737 1.60 11,740 11.82 0.1938
2024-05-09 2024-03-31 13F NOVARTIS SPONSORED ADR 66987V109 108,539 503 0.47 10,499 -3.76 0.1715
2024-02-12 2023-12-31 13F NOVARTIS SPONSORED ADR 66987V109 108,036 -7,215 -6.26 10,908 -7.08 0.1977
2023-11-09 2023-09-30 13F NOVARTIS SPONSORED ADR 66987V109 115,251 640 0.56 11,739 1.50 0.2230
2023-08-11 2023-06-30 13F NOVARTIS SPONSORED ADR 66987V109 114,611 -63,613 -35.69 11,565 -29.46 0.2071
2023-05-10 2023-03-31 13F NOVARTIS SPONSORED ADR 66987V109 178,224 -3,097 -1.71 16,397 -0.32 0.3098
2023-02-09 2022-12-31 13F NOVARTIS SPONSORED ADR 66987V109 181,321 -58 -0.03 16,449 19.31 0.3124
2022-11-10 2022-09-30 13F NOVARTIS SPONSORED ADR 66987V109 181,379 -3,281 -1.78 13,787 -11.67 0.2810
2022-08-12 2022-06-30 13F NOVARTIS SPONSORED ADR 66987V109 184,660 -192 -0.10 15,609 -3.77 0.2854
2022-05-16 2022-03-31 13F Novartis COM 66987V109 184,852 -8,085 -4.19 16,221 -3.88 0.2451
2022-02-14 2021-12-31 13F NOVARTIS SPONSORED ADR 66987V109 192,937 -57,164 -22.86 16,876 -17.49 0.2321
2021-11-15 2021-09-30 13F NOVARTIS SPONSORED ADR 66987V109 250,101 -1,863 -0.74 20,453 -11.03 0.3030
2021-08-16 2021-06-30 13F NOVARTIS SPONSORED ADR 66987V109 251,964 -45,703 -15.35 22,989 -9.65 0.3321
2021-05-17 2021-03-31 13F NOVARTIS SPONSORED ADR 66987V109 297,667 -9,628 -3.13 25,445 -12.31 0.3915
2021-02-16 2020-12-31 13F NOVARTIS SPONSORED ADR 66987V109 307,295 -6,450 -2.06 29,018 6.36 0.4844
2020-11-16 2020-09-30 13F NOVARTIS COM 66987V109 313,745 -6,273 -1.96 27,283 -2.39 0.5219
2020-08-12 2020-06-30 13F NOVARTIS SPONSORED ADR 66987V109 320,018 37,475 13.26 27,950 19.98 0.5829
2020-05-15 2020-03-31 13F NOVARTIS A G COM 66987V109 282,543 -27 -0.01 23,296 -12.93 0.5788
2020-01-14 2019-12-31 13F Novartis COM 66987V109 282,570 -71,531 -20.20 26,757 -13.04 0.3935
2019-10-31 2019-09-30 13F Novartis COM 66987V109 354,101 -28,404 -7.43 30,771 -11.90 0.4176
2019-07-31 2019-06-30 13F Novartis COM 66987V109 382,505 -21,679 -5.36 34,927 -10.12 0.4526
2019-04-30 2019-03-31 13F Novartis COM 66987V109 404,184 -64,944 -13.84 38,858 -3.47 0.5187
2019-02-08 2018-12-31 13F Novartis COM 66987V109 469,128 -64,022 -12.01 40,256 -12.37 0.6033
2018-11-13 2018-09-30 13F Novartis COM 66987V109 533,150 7,119 1.35 45,936 15.60 0.5787
2018-08-13 2018-06-30 13F Novartis COM 66987V109 526,031 15,800 3.10 39,736 -3.67 0.5041
2018-05-14 2018-03-31 13F Novartis COM 66987V109 510,231 -51,995 -9.25 41,252 -12.61 0.5256
2018-02-13 2017-12-31 13F Novartis COM 66987V109 562,226 31,070 5.85 47,204 3.52 0.5359
2017-10-30 2017-09-30 13F Novartis COM 66987V109 531,156 35,000 7.05 45,600 10.11 0.5244
2017-08-04 2017-06-30 13F Novartis COM 66987V109 496,156 51,999 11.71 41,414 25.54 0.4968
2017-04-28 2017-03-31 13F Novartis COM 66987V109 444,157 40,163 9.94 32,988 12.10 0.4025
2017-01-30 2016-12-31 13F Novartis COM 66987V109 403,994 -7,610 -1.85 29,427 -9.46 0.3762
2016-10-31 2016-09-30 13F Novartis COM 66987V109 411,604 27,069 7.04 32,500 2.43 0.3902
2016-08-15 2016-06-30 13F/A-1 Novartis COM 66987V109 384,535 33,815 9.64 31,728 24.88 0.3780
2016-07-29 2016-06-30 13F Novartis COM 66987V109 383,785 31,666
2016-04-29 2016-03-31 13F Novartis AG - ADR COM 66987V109 350,720 89,625 34.33 25,406 13.09 0.3365
2016-01-29 2015-12-31 13F Novartis AG - ADR COM 66987V109 261,095 4,412 1.72 22,465 -4.79 0.3046
2015-10-30 2015-09-30 13F Novartis AG - ADR COM 66987V109 256,683 -4,212 -1.61 23,594 -8.04 0.3156
2015-07-31 2015-06-30 13F NOVARTIS AG-ADR COM 66987V109 260,895 11,618 4.66 25,656 4.37 0.3022
2015-04-30 2015-03-31 13F Novartis COM 66987V109 249,277 249,277 0.00 24,581 0.2889
2015-01-30 2014-12-31 13F Novartis COM 66987V109 0 -388,799 -100.00 0 -100.00
2014-10-30 2014-09-30 13F Novartis COM 66987V109 388,799 -915 -0.23 36,598 3.73 0.4062
2014-09-18 2014-06-30 13F/A-1 Novartis COM 66987V109 389,714 -20,865 -5.08 35,281 12.02 0.3433
2014-07-30 2014-06-30 13F Novartis COM 66987V109 389,714 35,281
2013-10-30 2013-09-30 13F Novartis COM 66987V109 410,579 -2,525 -0.61 31,496 7.82 0.3926
2013-07-30 2013-06-30 13F Novartis AG - ADR COM 66987V109 413,104 413,104 29,211 0.3955
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.