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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

Norges Bank, established in 1816 and headquartered in Oslo, Norway, serves as the central bank of Norway, responsible for monetary policy, issuing the Norwegian krone, and maintaining financial stability. Beyond its traditional central banking role, it oversees the management of the Government Pension Fund Global (often called the Norwegian Oil Fund), one of the world’s largest sovereign wealth funds, valued at over $1 trillion, which invests Norway’s oil and gas revenues in global equities, bonds, and real estate. The fund’s investment arm, Norges Bank Investment Management (NBIM), operates independently to ensure long-term wealth preservation for future generations, emphasizing sustainable and ethical investing practices. With its dual role, Norges Bank uniquely blends central banking duties with stewardship of a massive global investment portfolio.

This Fund
S&P 500
This Quarter Est. Return
+9.95%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$507B
AUM Growth
+$49.8B
Cap. Flow
+$12.1B
Cap. Flow %
2.38%
Top 10 Hldgs %
27.24%
Holding
2,145
New
58
Increased
905
Reduced
790
Closed
138

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$1.04B
2
AMZN icon
Amazon
AMZN
+$902M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$877M
4
AAPL icon
Apple
AAPL
+$767M
5
NVDA icon
NVIDIA
NVDA
+$684M

Top Sells

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$444M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$415M
3
QCOM icon
Qualcomm
QCOM
+$385M
4
SNPS icon
Synopsys
SNPS
+$314M
5
ACN icon
Accenture
ACN
+$249M

Sector Composition

Rank Sector Weight
1 Technology 27.89%
2 Financials 13.39%
3 Healthcare 13.16%
4 Consumer Discretionary 11.33%
5 Communication Services 8.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ANSS
351
DELISTED
Ansys
ANSS
$241M 0.05%
728,551
-64,687
-8% -$20.5M
SBAC icon
352
SBA Communications
SBAC
$19.2B
$240M 0.05%
1,034,851
-81,808
-7% -$19.6M
ACI icon
353
Albertsons Companies
ACI
$5.62B
$239M 0.05%
10,964,782
+1,366,507
+14% +$28.4M
ED icon
354
Consolidated Edison
ED
$40.1B
$234M 0.05%
2,593,526
+31,654
+1% +$3.03M
WBD icon
355
Warner Bros
WBD
$65.9B
$233M 0.05%
18,595,535
+169,286
+0.9% +$2.2M
CTLT
356
DELISTED
CATALENT, INC.
CTLT
$232M 0.05%
5,361,195
+1,497,759
+39% +$65.8M
TTD icon
357
Trade Desk
TTD
$8.48B
$232M 0.05%
3,005,290
+748,651
+33% +$50.7M
KIM icon
358
Kimco Realty
KIM
$17.2B
$231M 0.05%
11,735,434
+42,478
+0.4% +$800K
CEG icon
359
Constellation Energy
CEG
$93.8B
$230M 0.05%
2,508,381
+206,578
+9% +$17.1M
TROW icon
360
T. Rowe Price
TROW
$23.9B
$229M 0.05%
2,040,239
+63,755
+3% +$6.98M
RCL icon
361
Royal Caribbean
RCL
$85.1B
$228M 0.05%
2,202,522
+130,253
+6% +$10.2M
LPLA icon
362
LPL Financial
LPLA
$28.3B
$227M 0.04%
1,042,985
+24,258
+2% +$4.86M
RRX icon
363
Regal Rexnord
RRX
$13.7B
$224M 0.04%
1,456,656
+838,487
+136% +$114M
VRSN icon
364
VeriSign
VRSN
$26.2B
$223M 0.04%
985,681
-4,946
-0.5% -$1.09M
ALB icon
365
Albemarle
ALB
$13.9B
$221M 0.04%
992,309
+635,047
+178% +$130M
CHTR icon
366
Charter Communications
CHTR
$17.3B
$220M 0.04%
599,581
-3,733
-0.6% -$1.27M
ENPH icon
367
Enphase Energy
ENPH
$4.96B
$217M 0.04%
1,296,235
-12,999
-1% -$2.32M
QSR icon
368
Restaurant Brands International
QSR
$25.7B
$217M 0.04%
2,794,456
+1,208,379
+76% +$87.2M
LKQ icon
369
LKQ Corp
LKQ
$5.68B
$215M 0.04%
3,695,255
+397,313
+12% +$22.1M
ILMN icon
370
Illumina
ILMN
$31B
$213M 0.04%
1,170,136
+56,731
+5% +$11.5M
TDY icon
371
Teledyne Technologies
TDY
$30.4B
$213M 0.04%
517,937
+44,006
+9% +$18.1M
CNH
372
CNH Industrial
CNH
$12.7B
$213M 0.04%
14,746,337
+2,305,166
+19% +$32.4M
EIX icon
373
Edison International
EIX
$28.2B
$212M 0.04%
3,059,652
+156,131
+5% +$11M
SPOT icon
374
Spotify
SPOT
$103B
$210M 0.04%
1,307,330
+362,883
+38% +$52.6M
RGLD icon
375
Royal Gold
RGLD
$16.8B
$209M 0.04%
1,821,741
-148,538
-8% -$19.1M
13 14
15
16 17

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Norges Bank's Q2 2023 Portfolio in Review

As of Q2 2023, Norges Bank held 2,145 positions worth $507B, up 11% from $457B the previous quarter. Its ten largest holdings account for 27% of the portfolio.

Norges Bank's Q2 2023 filing shows 58 new, 905 increased, 790 reduced and 138 closed positions. Its largest new stake was Kenvue: 7,326,131 shares worth $194M. The largest sale was Shell, an estimated $444M.

By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 26% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q2 2023 buy was Kenvue: 7,326,131 shares worth $194M.
  • Norges Bank added most to Microsoft in Q2 2023, an estimated $1.04B increase.
  • Norges Bank's biggest Q2 2023 reduction was Shell, cutting an estimated $444M.
  • Norges Bank fully exited Evoqua Water Technologies Corp. Common Stock in Q2 2023, selling an estimated $175M.
  • Norges Bank's ten largest holdings make up 27% of its $507B portfolio in Q2 2023.
  • Norges Bank opened 58 new positions and closed 138 in Q2 2023.
  • Norges Bank's portfolio value rose 11% quarter-over-quarter to $507B.

Based on Norges Bank's 13F filing for Q2 2023, filed 14 Aug 2023.