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 |
Microsoft
MSFT
|
+$1.37B |
| 2 |
Broadcom
AVGO
|
+$1.13B |
| 3 |
Bank of America
BAC
|
+$880M |
| 4 |
Amazon
AMZN
|
+$755M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$744M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATVI
Activision Blizzard
ATVI
|
+$1.2B |
| 2 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$822M |
| 3 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$542M |
| 4 |
Kenvue
KVUE
|
+$514M |
| 5 |
RTX Corp
RTX
|
+$501M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.35% |
| 2 | Financials | 13.96% |
| 3 | Healthcare | 11.94% |
| 4 | Consumer Discretionary | 11.37% |
| 5 | Communication Services | 8.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
776
Evercore
EVR
$12.3B
| $67.2M | 0.01% |
393,040
-849
| -0.2% | -$123K |
|
777
Coty
COTY
$2.49B
| $67.2M | 0.01% |
5,410,086
+740,762
| +16% | +$8M |
|
778
Popular Inc
BPOP
$11.3B
| $66.9M | 0.01% |
814,928
+22,350
| +3% | +$1.58M |
|
779
Goodyear
GT
$1.99B
| $66.8M | 0.01% |
4,667,719
+1,135,649
| +32% | +$15.1M |
|
780
Hexcel
HXL
$7.89B
| $66.6M | 0.01% |
903,004
-22,955
| -2% | -$1.55M |
|
781
Affiliated Managers Group
AMG
$9.92B
| $66.2M | 0.01% |
437,347
+55,351
| +14% | +$7.44M |
|
782
HF Sinclair
DINO
$14.8B
| $65.8M | 0.01% |
1,183,633
-506,229
| -30% | -$27.6M |
|
783
Planet Fitness
PLNT
$4.48B
| $65.7M | 0.01% |
899,639
+165,961
| +23% | +$10.2M |
|
784
Thor Industries
THO
$4.14B
| $65.4M | 0.01% |
552,987
+22,650
| +4% | +$2.26M |
|
785
Brunswick
BC
$5.43B
| $65.1M | 0.01% |
672,923
-84,234
| -11% | -$6.69M |
|
786
Delta Air Lines
DAL
$61.3B
| $65.1M | 0.01% |
1,617,100
+233,750
| +17% | +$8.48M |
|
787
The Ensign Group
ENSG
$10.4B
| $65.1M | 0.01% |
579,720
+12,897
| +2% | +$1.33M |
|
788
GXO Logistics
GXO
$5.48B
| $65M | 0.01% |
1,062,825
-81,696
| -7% | -$4.58M |
|
789
Full Truck Alliance
YMM
$9.91B
| $64.9M | 0.01% |
9,263,322
-1,067,131
| -10% | -$7.52M |
|
790
Prosperity Bancshares
PB
$8.94B
| $64.7M | 0.01% |
955,990
+10,073
| +1% | +$589K |
|
791
U-Haul Holding Co Series N
UHAL.B
$12.7B
| $64.6M | 0.01% |
917,433
-97,382
| -10% | -$5.3M |
|
792
Option Care Health
OPCH
$3.55B
| $64.3M | 0.01% |
1,909,858
+32,692
| +2% | +$1M |
|
793
Landstar System
LSTR
$6.09B
| $64.2M | 0.01% |
331,398
-3,498
| -1% | -$619K |
|
794
Alamos Gold
AGI
$13.1B
| $64.1M | 0.01% |
4,767,379
+112,256
| +2% | +$1.47M |
|
795
Rithm Capital
RITM
$5.64B
| $63.9M | 0.01% |
5,982,810
+3,907,482
| +188% | +$38.9M |
|
796
Columbia Banking Systems
COLB
$8.87B
| $63.2M | 0.01% |
2,367,013
+5,884
| +0.2% | +$131K |
|
|
TMHC
797
DELISTED
Taylor Morrison
TMHC
| $63.1M | 0.01% |
1,183,452
-19,907
| -2% | -$890K |
|
798
Pan American Silver
PAAS
$20.3B
| $63.1M | 0.01% |
3,862,132
-466,537
| -11% | -$6.98M |
|
799
Ally Financial
ALLY
$13.6B
| $62.9M | 0.01% |
1,800,382
+125,462
| +7% | +$3.5M |
|
800
OneMain Financial
OMF
$7.54B
| $62.7M | 0.01% |
1,275,031
-28,863
| -2% | -$1.18M |
|
Similar funds
Norges Bank's Q4 2023 Portfolio in Review
As of Q4 2023, Norges Bank held 2,039 positions worth $572B, up 16% from $493B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Norges Bank deployed $18.4B of net new capital in Q4 2023, opening 73 new positions and adding to 987 existing holdings. Its largest new stake was Veralto: 3,235,391 shares worth $266M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 27% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Kenvue, an estimated $514M trimmed.
- Norges Bank's largest Q4 2023 buy was Veralto: 3,235,391 shares worth $266M.
- Norges Bank added most to Microsoft in Q4 2023, an estimated $1.37B increase.
- Norges Bank's biggest Q4 2023 reduction was Kenvue, cutting an estimated $514M.
- Norges Bank fully exited Activision Blizzard in Q4 2023, selling an estimated $1.2B.
- Norges Bank's ten largest holdings make up 27% of its $572B portfolio in Q4 2023.
- Norges Bank opened 73 new positions and closed 97 in Q4 2023.
- Norges Bank's portfolio value rose 16% quarter-over-quarter to $572B.
Based on Norges Bank's 13F filing for Q4 2023, filed 9 Feb 2024.