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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
SUM
876
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$47.7M 0.01%
1,260,464
+16,394
+1% +$508K
COLB icon
877
Columbia Banking Systems
COLB
$8.84B
$47.5M 0.01%
2,344,456
+72,342
+3% +$1.53M
CROX icon
878
Crocs
CROX
$6.14B
$47.5M 0.01%
422,500
+329,826
+356% +$39.3M
CFLT
879
DELISTED
Confluent
CFLT
$47.3M 0.01%
1,340,636
+155,866
+13% +$4.36M
CLVT icon
880
Clarivate
CLVT
$1.27B
$47.3M 0.01%
4,961,645
+746,303
+18% +$6.33M
FOXF icon
881
Fox Factory Holding Corp
FOXF
$755M
$47.1M 0.01%
434,313
+16,464
+4% +$1.68M
BEPC icon
882
Brookfield Renewable
BEPC
$6.08B
$46.9M 0.01%
1,488,200
+53,370
+4% +$1.8M
PAGS icon
883
PagSeguro Digital
PAGS
$2.69B
$46.9M 0.01%
4,963,564
-2,778,876
-36% -$28.2M
MSM icon
884
MSC Industrial Direct
MSM
$6.89B
$46.9M 0.01%
491,766
+10,913
+2% +$1M
THO icon
885
Thor Industries
THO
$3.9B
$46.8M 0.01%
452,017
-16,170
-3% -$1.37M
GMED icon
886
Globus Medical
GMED
$10.7B
$46.6M 0.01%
783,410
-25,063
-3% -$1.43M
ENS icon
887
EnerSys
ENS
$6.78B
$46.6M 0.01%
429,647
-227
-0.1% -$20.7K
BPOP icon
888
Popular Inc
BPOP
$11.2B
$46.5M 0.01%
769,163
+27,483
+4% +$1.62M
OMF icon
889
OneMain Financial
OMF
$7.2B
$46.5M 0.01%
1,065,023
-138,300
-11% -$5.4M
PNFP icon
890
Pinnacle Financial Partners Inc
PNFP
$15.9B
$46.4M 0.01%
819,002
-56,474
-6% -$2.97M
CWST icon
891
Casella Waste Systems
CWST
$5.71B
$46.3M 0.01%
511,787
+77,553
+18% +$6.92M
YMM icon
892
Full Truck Alliance
YMM
$9.85B
$46.3M 0.01%
7,440,676
+707,964
+11% +$4.57M
AEL
893
DELISTED
American Equity Investment Life Holding Company
AEL
$46.3M 0.01%
887,581
+97,553
+12% +$3.92M
NFG icon
894
National Fuel Gas
NFG
$7.82B
$46.2M 0.01%
900,364
-22,786
-2% -$1.21M
PII icon
895
Polaris
PII
$3.82B
$46.2M 0.01%
382,312
-111,185
-23% -$12.3M
RCM
896
DELISTED
R1 RCM Inc. Common Stock
RCM
$46.2M 0.01%
2,503,382
-116,594
-4% -$1.89M
CC icon
897
Chemours
CC
$2.5B
$46.1M 0.01%
1,250,126
-320,399
-20% -$9.78M
MMSI icon
898
Merit Medical Systems
MMSI
$5.08B
$46M 0.01%
550,135
+43,710
+9% +$3.56M
BCC icon
899
Boise Cascade
BCC
$2.69B
$45.8M 0.01%
507,087
-934
-0.2% -$68.2K
LNC icon
900
Lincoln National
LNC
$8.73B
$45.8M 0.01%
1,777,541
+42,913
+2% +$942K
34 35
36
37 38

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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.