Norges Bank Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CRH
CRH
|
+$895M |
| 2 |
Welltower
WELL
|
+$788M |
| 3 |
Kenvue
KVUE
|
+$728M |
| 4 |
Simon Property Group
SPG
|
+$624M |
| 5 |
Extra Space Storage
EXR
|
+$379M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$747M |
| 2 |
Johnson & Johnson
JNJ
|
+$703M |
| 3 |
Apple
AAPL
|
+$605M |
| 4 |
LSI
Life Storage, Inc.
LSI
|
+$408M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$365M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.04% |
| 2 | Financials | 13.88% |
| 3 | Healthcare | 12.92% |
| 4 | Consumer Discretionary | 11.28% |
| 5 | Communication Services | 8.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
551
Crown Holdings
CCK
$13.3B
| $106M | 0.02% |
1,200,361
-300,424
| -20% | -$26.9M |
|
552
Commercial Metals
CMC
$8.39B
| $105M | 0.02% |
2,118,744
+3,777
| +0.2% | +$205K |
|
553
Amdocs
DOX
$5.86B
| $103M | 0.02% |
1,223,750
+26,560
| +2% | +$2.4M |
|
554
Aramark
ARMK
$14.9B
| $103M | 0.02% |
4,111,584
+745,407
| +22% | +$20.9M |
|
555
Tradeweb Markets
TW
$21.7B
| $103M | 0.02% |
1,279,039
+15,517
| +1% | +$1.24M |
|
556
Williams-Sonoma
WSM
$29.3B
| $101M | 0.02% |
1,302,912
+378,328
| +41% | +$26.1M |
|
557
Eagle Materials
EXP
$6.68B
| $101M | 0.02% |
603,701
+5,403
| +0.9% | +$982K |
|
558
Rentokil
RTO
$12.5B
| $100M | 0.02% |
2,705,486
| – | – |
|
559
MKS Inc
MKSI
$21.4B
| $100M | 0.02% |
1,157,721
-248,405
| -18% | -$24.2M |
|
560
Interactive Brokers
IBKR
$39.7B
| $100M | 0.02% |
4,621,172
| – | – |
|
561
Wynn Resorts
WYNN
$10.6B
| $99.9M | 0.02% |
1,080,628
-43,275
| -4% | -$4.34M |
|
562
Owens Corning
OC
$12.6B
| $99.5M | 0.02% |
729,552
-79,321
| -10% | -$10.9M |
|
563
CMS Energy
CMS
$22.3B
| $99.4M | 0.02% |
1,871,250
-31,930
| -2% | -$1.85M |
|
564
AGCO
AGCO
$7.3B
| $99.1M | 0.02% |
838,086
+166,751
| +25% | +$21.2M |
|
565
Autoliv
ALV
$9.05B
| $98.9M | 0.02% |
1,025,414
+144,124
| +16% | +$13.8M |
|
566
United Therapeutics
UTHR
$22.1B
| $98.9M | 0.02% |
437,969
+33,142
| +8% | +$7.63M |
|
567
Caesars Entertainment
CZR
$6.12B
| $98.8M | 0.02% |
2,131,141
-190,867
| -8% | -$10.1M |
|
568
Sarepta Therapeutics
SRPT
$1.72B
| $98.5M | 0.02% |
812,965
-17,659
| -2% | -$2M |
|
|
K
569
DELISTED
Kellanova
K
| $97.9M | 0.02% |
1,751,536
-105,411
| -6% | -$6.27M |
|
570
Stanley Black & Decker
SWK
$15.6B
| $97.7M | 0.02% |
1,169,466
+372,236
| +47% | +$34.5M |
|
571
Targa Resources
TRGP
$56B
| $97M | 0.02% |
1,132,170
-109,149
| -9% | -$9.04M |
|
|
PPL
572
PPL Corp
PPL
$26.2B
| $96.7M | 0.02% |
4,105,981
-228,763
| -5% | -$5.92M |
|
573
nVent Electric
NVT
$26.7B
| $96.6M | 0.02% |
1,822,077
| – | – |
|
574
HF Sinclair
DINO
$15B
| $96.2M | 0.02% |
1,689,862
+78,551
| +5% | +$4.27M |
|
575
Royal Gold
RGLD
$18.1B
| $96.1M | 0.02% |
903,782
-917,959
| -50% | -$104M |
|
Similar funds
Norges Bank's Q3 2023 Portfolio in Review
As of Q3 2023, Norges Bank held 2,065 positions worth $493B, down 2.7% from $507B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Norges Bank's Q3 2023 filing shows 58 new, 885 increased, 754 reduced and 99 closed positions. Its largest new stake was Maplebear: 2,854,921 shares worth $84.8M. The largest sale was Meta Platforms (Facebook), an estimated $747M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 28% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q3 2023 buy was Maplebear: 2,854,921 shares worth $84.8M.
- Norges Bank added most to CRH in Q3 2023, an estimated $895M increase.
- Norges Bank's biggest Q3 2023 reduction was Meta Platforms (Facebook), cutting an estimated $747M.
- Norges Bank fully exited Life Storage, Inc. in Q3 2023, selling an estimated $408M.
- Norges Bank's ten largest holdings make up 27% of its $493B portfolio in Q3 2023.
- Norges Bank opened 58 new positions and closed 99 in Q3 2023.
- Norges Bank's portfolio value fell 2.7% quarter-over-quarter to $493B.
Based on Norges Bank's 13F filing for Q3 2023, filed 13 Nov 2023.