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 | |
|---|---|---|---|---|---|---|
701
West Fraser Timber
WFG
$5.5B
| $69M | 0.01% |
951,113
| – | – |
|
|
AIRC
702
DELISTED
Apartment Income REIT Corp.
AIRC
| $68.7M | 0.01% |
2,236,874
+619,900
| +38% | +$21M |
|
703
Texas Roadhouse
TXRH
$13.7B
| $68.5M | 0.01% |
712,305
+188,058
| +36% | +$20M |
|
704
Selective Insurance
SIGI
$5.76B
| $68.3M | 0.01% |
662,085
+17,558
| +3% | +$1.76M |
|
705
Onto Innovation
ONTO
$13.7B
| $68.1M | 0.01% |
533,958
+10,305
| +2% | +$1.22M |
|
706
Tenet Healthcare
THC
$21.1B
| $67.9M | 0.01% |
1,030,726
| – | – |
|
|
SF
707
Stifel
SF
$12.8B
| $67.9M | 0.01% |
1,656,553
+18,838
| +1% | +$793K |
|
708
BlackBerry
BB
$5.12B
| $67.8M | 0.01% |
14,377,385
+89,770
| +0.6% | +$441K |
|
709
Genpact
G
$5.98B
| $67.7M | 0.01% |
1,871,246
+34,847
| +2% | +$1.29M |
|
710
Universal Health Services
UHS
$10.4B
| $67.6M | 0.01% |
537,817
+20,067
| +4% | +$2.74M |
|
711
Murphy USA
MUSA
$10.7B
| $67.6M | 0.01% |
197,810
+2,463
| +1% | +$782K |
|
712
Asbury Automotive
ABG
$3.94B
| $67.3M | 0.01% |
292,614
-12,188
| -4% | -$2.78M |
|
713
GXO Logistics
GXO
$5.48B
| $67.1M | 0.01% |
1,144,521
+25,879
| +2% | +$1.62M |
|
714
Encompass Health
EHC
$11B
| $67M | 0.01% |
997,425
+22,658
| +2% | +$1.56M |
|
715
Silgan Holdings
SLGN
$4.51B
| $66.6M | 0.01% |
1,543,885
+79,946
| +5% | +$3.59M |
|
716
e.l.f. Beauty
ELF
$5.09B
| $66.5M | 0.01% |
605,631
+593,650
| +4,955% | +$72.1M |
|
|
APO.PRA
717
DELISTED
Apollo Global Management Series A
APO.PRA
| $66.1M | 0.01% |
+1,200,000
| New | +$64.7M |
|
718
Fox Class A
FOXA
$24.6B
| $66.1M | 0.01% |
2,117,448
+85,886
| +4% | +$2.82M |
|
719
Primerica
PRI
$10B
| $65.6M | 0.01% |
338,257
-27,773
| -8% | -$5.69M |
|
720
Procore
PCOR
$8.46B
| $65M | 0.01% |
995,747
-5,700
| -0.6% | -$381K |
|
721
Southern Copper
SCCO
$164B
| $64.9M | 0.01% |
929,306
-95,017
| -9% | -$6.94M |
|
722
Brixmor Property Group
BRX
$9.49B
| $64.7M | 0.01% |
3,112,331
+36,789
| +1% | +$815K |
|
|
LSXMK
723
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $64.6M | 0.01% |
2,539,128
-808,920
| -24% | -$19.6M |
|
724
Elastic
ESTC
$7.25B
| $64.5M | 0.01% |
793,983
-21,669
| -3% | -$1.48M |
|
725
UGI
UGI
$7.62B
| $64.4M | 0.01% |
2,799,782
+1,122,482
| +67% | +$27.9M |
|
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.