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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
FICO icon
451
Fair Isaac
FICO
$24.3B
$157M 0.03%
193,829
-40,958
-17% -$30.7M
HPQ icon
452
HP
HPQ
$24.9B
$157M 0.03%
5,099,629
-1,322,906
-21% -$39.7M
FCNCA icon
453
First Citizens BancShares
FCNCA
$24.9B
$156M 0.03%
121,384
+13,920
+13% +$16.1M
CG icon
454
Carlyle Group
CG
$16.6B
$156M 0.03%
4,875,720
+2,691,001
+123% +$78.6M
CF icon
455
CF Industries
CF
$19.2B
$155M 0.03%
2,230,346
+729,992
+49% +$50.9M
LYV icon
456
Live Nation Entertainment
LYV
$40.6B
$154M 0.03%
1,685,938
+65,382
+4% +$5.1M
FITB
457
Fifth Third Bancorp
FITB
$51.2B
$154M 0.03%
5,857,159
+173,960
+3% +$4.48M
ARES icon
458
Ares Management
ARES
$28.9B
$153M 0.03%
1,585,772
+260,760
+20% +$22.5M
MKSI icon
459
MKS Inc
MKSI
$20.1B
$152M 0.03%
1,406,126
+578,458
+70% +$52.9M
CPAY icon
460
Corpay
CPAY
$25B
$152M 0.03%
604,458
+11,093
+2% +$2.53M
RBLX icon
461
Roblox
RBLX
$25.4B
$151M 0.03%
3,756,647
+785,607
+26% +$31.5M
TFII icon
462
TFI International
TFII
$11.1B
$151M 0.03%
1,321,961
+297,490
+29% +$32.7M
CINF icon
463
Cincinnati Financial
CINF
$27.3B
$150M 0.03%
1,546,107
+50,028
+3% +$5.17M
NXT icon
464
Nextpower Inc
NXT
$13.6B
$150M 0.03%
3,770,000
+1,370,000
+57% +$50.2M
ALL icon
465
Allstate
ALL
$68B
$149M 0.03%
1,370,982
+551
+0% +$62.5K
WAT icon
466
Waters Corp
WAT
$37B
$149M 0.03%
560,333
-39,280
-7% -$10.9M
MGM icon
467
MGM Resorts International
MGM
$11.4B
$149M 0.03%
3,386,616
-66,164
-2% -$2.83M
SYF icon
468
Synchrony
SYF
$24.7B
$149M 0.03%
4,383,260
-298,145
-6% -$9.1M
GGG icon
469
Graco
GGG
$12.9B
$148M 0.03%
1,711,117
+17,522
+1% +$1.36M
SNA icon
470
Snap-on
SNA
$21.2B
$147M 0.03%
509,360
-38,604
-7% -$10M
DOC icon
471
Healthpeak Properties
DOC
$15.1B
$147M 0.03%
7,301,032
-8,759,628
-55% -$182M
TECH icon
472
Bio-Techne
TECH
$11.2B
$147M 0.03%
1,797,707
+71,380
+4% +$5.74M
MANH icon
473
Manhattan Associates
MANH
$11.2B
$147M 0.03%
734,050
+21,106
+3% +$3.67M
ZBRA icon
474
Zebra Technologies
ZBRA
$14B
$146M 0.03%
494,774
+30,338
+7% +$8.51M
CAG icon
475
Conagra Brands
CAG
$6.94B
$146M 0.03%
4,328,953
+133,040
+3% +$4.8M
17 18
19
20 21

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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.