Denmark’s largest pension fund, ATP, has ramped up its investments in companies focused on obesity treatments, responding to a surge in stock values. With $100 billion in assets, ATP has increased its stake in Zealand Pharma A/S, whose stock has soared nearly 130% in 2024. ATP now holds 0.45% of Zealand’s shares, valued at approximately $42 million, and has significant stakes in Novo Nordisk A/S and Gubra A/S, increasing its total investments in Danish weight-loss stocks by 66% to 2.79 billion kroner. While expressing optimism in the obesity market, ATP acknowledges the risks posed by its dependence on this sector.