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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
CHKP icon
701
Check Point Software Technologies
CHKP
$13B
$69.5M 0.01%
553,362
-63,512
-10% -$8M
IPG
702
DELISTED
Interpublic Group of Companies
IPG
$69.4M 0.01%
1,799,343
+1,155,703
+180% +$43.6M
MAT icon
703
Mattel
MAT
$4.38B
$69.4M 0.01%
3,550,959
+69,922
+2% +$1.26M
JEF icon
704
Jefferies Financial Group
JEF
$12.6B
$69.2M 0.01%
2,086,265
+49,345
+2% +$1.54M
FOXA icon
705
Fox Class A
FOXA
$24.5B
$69.1M 0.01%
2,031,562
– –
G icon
706
Genpact
G
$5.96B
$69M 0.01%
1,836,399
+34,549
+2% +$1.39M
LBTYA icon
707
Liberty Global Class A
LBTYA
$3.62B
$68.7M 0.01%
4,073,942
+52,310
+1% +$929K
SLGN icon
708
Silgan Holdings
SLGN
$4.23B
$68.6M 0.01%
1,463,939
+172,566
+13% +$8.39M
GNTX icon
709
Gentex
GNTX
$4.97B
$68.3M 0.01%
2,335,254
+108,535
+5% +$2.99M
RBC icon
710
RBC Bearings
RBC
$17.4B
$68.2M 0.01%
313,809
+26,668
+9% +$5.78M
MAS icon
711
Masco
MAS
$14.1B
$68.1M 0.01%
1,187,252
-34,184
-3% -$1.79M
SCCO icon
712
Southern Copper
SCCO
$143B
$68.1M 0.01%
1,024,323
+159,159
+18% +$10.9M
TDC icon
713
Teradata
TDC
$2.92B
$67.9M 0.01%
1,270,837
+185,669
+17% +$8.37M
BRX icon
714
Brixmor Property Group
BRX
$9.67B
$67.7M 0.01%
3,075,542
+23,622
+0.8% +$493K
NOVT icon
715
Novanta
NOVT
$5.08B
$67.7M 0.01%
367,488
+13,224
+4% +$2.16M
EXLS icon
716
EXL Service
EXLS
$5.14B
$67.6M 0.01%
2,238,910
+130,370
+6% +$4.11M
WBS icon
717
Webster Financial
WBS
$12.5B
$67.6M 0.01%
1,791,612
-46,421
-3% -$1.71M
EWBC icon
718
East-West Bancorp
EWBC
$17.9B
$67.4M 0.01%
1,276,060
-245,448
-16% -$12.5M
BC icon
719
Brunswick
BC
$5.13B
$67.1M 0.01%
774,920
+9,686
+1% +$790K
CYBR
720
DELISTED
CyberArk
CYBR
$66.6M 0.01%
425,756
-1,485
-0.3% -$213K
HR icon
721
Healthcare Realty
HR
$7.28B
$66.5M 0.01%
3,527,037
+3,172
+0.1% +$61.3K
AKAM icon
722
Akamai
AKAM
$16.7B
$66.5M 0.01%
739,895
-179,174
-19% -$15.3M
AXNX
723
DELISTED
Axonics, Inc. Common Stock
AXNX
$66.4M 0.01%
1,314,700
+29,630
+2% +$1.58M
AOS icon
724
A.O. Smith
AOS
$8.17B
$66.3M 0.01%
911,269
-216,050
-19% -$14.8M
LAMR icon
725
Lamar Advertising Co
LAMR
$16.2B
$66.2M 0.01%
667,209
-155,631
-19% -$15.1M
27 28
29
30 31

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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.