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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
FR icon
626
First Industrial Realty Trust
FR
$8.73B
$84.5M 0.02%
1,605,761
+32,472
+2% +$1.7M
NNN icon
627
NNN REIT
NNN
$9.04B
$84M 0.02%
1,962,798
-20,911
-1% -$900K
IFF icon
628
International Flavors & Fragrances
IFF
$20.2B
$84M 0.02%
1,054,837
-106,125
-9% -$9.13M
TEVA icon
629
Teva Pharmaceuticals
TEVA
$40.8B
$83.9M 0.02%
11,143,027
+7,840,027
+237% +$63.6M
BBWI icon
630
Bath & Body Works
BBWI
$4.06B
$83.9M 0.02%
2,237,354
+65,481
+3% +$2.39M
THC icon
631
Tenet Healthcare
THC
$20.5B
$83.9M 0.02%
1,030,726
-391,422
-28% -$27.9M
LFUS icon
632
Littelfuse
LFUS
$11.2B
$83.7M 0.02%
287,181
+8,197
+3% +$2.15M
CW icon
633
Curtiss-Wright
CW
$26.7B
$83.6M 0.02%
455,455
+12,510
+3% +$2.13M
CHE icon
634
Chemed
CHE
$7.07B
$83.6M 0.02%
154,251
+6,742
+5% +$3.69M
CACI icon
635
CACI
CACI
$11B
$83.6M 0.02%
245,131
+2,717
+1% +$844K
LEA icon
636
Lear
LEA
$6.54B
$83.4M 0.02%
581,245
+28,674
+5% +$3.79M
BZ icon
637
Kanzhun
BZ
$7.27B
$83M 0.02%
5,513,065
+2,284,853
+71% +$38.2M
FOX icon
638
Fox Class B
FOX
$21.8B
$82.9M 0.02%
2,598,193
-96,564
-4% -$2.92M
FBIN icon
639
Fortune Brands Innovations
FBIN
$5.88B
$82.8M 0.02%
1,150,670
-69,149
-6% -$4.4M
CLF icon
640
Cleveland-Cliffs
CLF
$6.57B
$82.8M 0.02%
4,939,507
+634,534
+15% +$10.1M
AIZ icon
641
Assurant
AIZ
$13.8B
$82.6M 0.02%
657,185
+49,850
+8% +$6.21M
HAS icon
642
Hasbro
HAS
$13.2B
$82.6M 0.02%
1,275,025
-96,640
-7% -$5.64M
POST icon
643
Post Holdings
POST
$4.14B
$82.1M 0.02%
948,057
-13,799
-1% -$1.21M
TTEK icon
644
Tetra Tech
TTEK
$8.49B
$81.8M 0.02%
2,496,465
-889,985
-26% -$26.2M
WFG icon
645
West Fraser Timber
WFG
$5.08B
$81.7M 0.02%
951,113
-64,467
-6% -$4.86M
UHS icon
646
Universal Health Services
UHS
$10.2B
$81.7M 0.02%
517,750
-8,933
-2% -$1.25M
CELH icon
647
Celsius Holdings
CELH
$7.47B
$81.6M 0.02%
1,640,586
-67,836
-4% -$2.7M
PGRE
648
DELISTED
Paramount Group
PGRE
$81.4M 0.02%
18,378,272
– –
GLOB icon
649
Globant
GLOB
$1.58B
$80.9M 0.02%
449,986
+13,577
+3% +$2.23M
CRL icon
650
Charles River Laboratories
CRL
$11.2B
$80.6M 0.02%
383,417
-92,331
-19% -$18.4M
24 25
26
27 28

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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.