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 |
SW
Smurfit Westrock
SW
|
+$1.25B |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$1.07B |
| 3 |
Broadcom
AVGO
|
+$991M |
| 4 |
LINE
Lineage Inc
LINE
|
+$962M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$841M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class B
BRK.B
|
+$1.29B |
| 2 |
T-Mobile US
TMUS
|
+$856M |
| 3 |
Simon Property Group
SPG
|
+$810M |
| 4 |
General Dynamics
GD
|
+$799M |
| 5 |
Workday
WDAY
|
+$644M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.35% |
| 2 | Financials | 14.21% |
| 3 | Healthcare | 11.51% |
| 4 | Consumer Discretionary | 10.72% |
| 5 | Communication Services | 8.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1051
Envista
NVST
$3.97B
| $39.3M | 0.01% |
1,991,011
+11,747
| +0.6% | +$205K |
|
1052
Haemonetics
HAE
$4.83B
| $39.3M | 0.01% |
488,566
+3,851
| +0.8% | +$311K |
|
1053
AST SpaceMobile
ASTS
$17.6B
| $39.2M | 0.01% |
+1,500,000
| New | +$33.8M |
|
1054
Carnival Corporation Ltd
CCL
$30.3B
| $39.1M | 0.01% |
2,113,755
-1,621,652
| -43% | -$27.5M |
|
1055
Blackstone Mortgage Trust
BXMT
$2.24B
| $38.9M | 0.01% |
2,048,343
+165,738
| +9% | +$3.04M |
|
1056
Amkor Technology
AMKR
$11.5B
| $38.9M | 0.01% |
1,270,071
-60,333
| -5% | -$2.05M |
|
1057
Clarivate
CLVT
$1.22B
| $38.8M | 0.01% |
5,465,368
| – | – |
|
1058
American States Water
AWR
$3.43B
| $38.8M | 0.01% |
465,531
-43,029
| -8% | -$3.47M |
|
1059
Workiva
WK
$4.07B
| $38.8M | 0.01% |
489,889
+31,908
| +7% | +$2.4M |
|
1060
Cabot Corp
CBT
$4.09B
| $38.8M | 0.01% |
346,722
-22,335
| -6% | -$2.23M |
|
1061
Huazhu Hotels Group
HTHT
$13.3B
| $38.5M | 0.01% |
1,036,095
-198,494
| -16% | -$6.02M |
|
1062
Academy Sports + Outdoors
ASO
$3.11B
| $38.5M | 0.01% |
659,804
+17,769
| +3% | +$970K |
|
1063
Omnicom Group
OMC
$21.9B
| $38.4M | 0.01% |
371,504
+138,951
| +60% | +$13.4M |
|
1064
Albany International
AIN
$1.69B
| $38.2M | 0.01% |
429,693
+20,800
| +5% | +$1.83M |
|
1065
Biohaven
BHVN
$1.86B
| $38.2M | 0.01% |
763,523
-17,147
| -2% | -$667K |
|
1066
Evolent Health
EVH
$423M
| $38.1M | 0.01% |
1,347,256
+142,203
| +12% | +$3.67M |
|
1067
United Airlines
UAL
$34.7B
| $38.1M | 0.01% |
667,130
-1,186,564
| -64% | -$54.9M |
|
1068
Pegasystems
PEGA
$6.19B
| $38M | 0.01% |
1,040,222
| – | – |
|
1069
Lear
LEA
$6.22B
| $37.9M | 0.01% |
347,664
-335,051
| -49% | -$38.1M |
|
1070
Ormat Technologies
ORA
$5.61B
| $37.9M | 0.01% |
492,887
+26,832
| +6% | +$1.99M |
|
1071
Terex
TEX
$6.67B
| $37.9M | 0.01% |
716,659
-49,776
| -6% | -$2.75M |
|
|
AMED
1072
DELISTED
Amedisys
AMED
| $37.6M | 0.01% |
389,393
| – | – |
|
1073
Spire
SR
$4.74B
| $37.6M | 0.01% |
558,111
-140,017
| -20% | -$9.09M |
|
1074
Power Integrations
POWI
$2.7B
| $37.2M | 0.01% |
579,889
+113,403
| +24% | +$7.49M |
|
1075
Newell Brands
NWL
$2.4B
| $37.1M | 0.01% |
4,834,268
+482,673
| +11% | +$3.46M |
|
Similar funds
Norges Bank's Q3 2024 Portfolio in Review
As of Q3 2024, Norges Bank held 1,995 positions worth $716B, up 7% from $669B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Norges Bank's Q3 2024 filing shows 65 new, 724 increased, 864 reduced and 156 closed positions. Its largest new stake was Smurfit Westrock: 27,560,163 shares worth $1.36B. The largest sale was Berkshire Hathaway Class B, an estimated $1.29B.
By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q3 2024 buy was Smurfit Westrock: 27,560,163 shares worth $1.36B.
- Norges Bank added most to Berkshire Hathaway Class A in Q3 2024, an estimated $1.07B increase.
- Norges Bank's biggest Q3 2024 reduction was Berkshire Hathaway Class B, cutting an estimated $1.29B.
- Norges Bank fully exited General Dynamics in Q3 2024, selling an estimated $799M.
- Norges Bank's ten largest holdings make up 30% of its $716B portfolio in Q3 2024.
- Norges Bank opened 65 new positions and closed 156 in Q3 2024.
- Norges Bank's portfolio value rose 7% quarter-over-quarter to $716B.
Based on Norges Bank's 13F filing for Q3 2024, filed 13 Nov 2024.