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 | |
|---|---|---|---|---|---|---|
|
IPG
1101
DELISTED
Interpublic Group of Companies
IPG
| $32.6M | 0.01% |
999,372
-650,768
| -39% | -$19.6M |
|
1102
Glacier Bancorp
GBCI
$6.57B
| $32.6M | 0.01% |
789,364
+12,641
| +2% | +$430K |
|
1103
First Bancorp
FBP
$4.46B
| $32.6M | 0.01% |
1,981,132
+53,564
| +3% | +$791K |
|
1104
Interparfums
IPAR
$4B
| $32.5M | 0.01% |
225,631
+13,318
| +6% | +$1.74M |
|
1105
COPT Defense Properties
CDP
$4.26B
| $32.3M | 0.01% |
1,259,457
+389,699
| +45% | +$9.44M |
|
1106
Ziff Davis
ZD
$2.04B
| $32.2M | 0.01% |
479,264
+75,567
| +19% | +$4.79M |
|
1107
SEI Investments
SEIC
$12.5B
| $32.2M | 0.01% |
506,076
-124,552
| -20% | -$7.27M |
|
1108
International Bancshares
IBOC
$4.74B
| $32.1M | 0.01% |
590,143
+6,143
| +1% | +$285K |
|
1109
Park Hotels & Resorts
PK
$3.02B
| $31.7M | 0.01% |
2,074,816
+142,703
| +7% | +$1.97M |
|
1110
DigitalBridge
DBRG
$2.93B
| $31.7M | 0.01% |
1,804,494
+50,943
| +3% | +$839K |
|
|
AZPN
1111
DELISTED
Aspen Technology Inc
AZPN
| $31.6M | 0.01% |
143,677
-120,297
| -46% | -$23.2M |
|
1112
Sabra Healthcare REIT
SBRA
$5.2B
| $31.6M | 0.01% |
2,214,763
-248,725
| -10% | -$3.53M |
|
1113
LXP Industrial Trust
LXP
$3.56B
| $31.5M | 0.01% |
635,670
-75,733
| -11% | -$3.31M |
|
1114
MINISO
MNSO
$3.84B
| $31.5M | 0.01% |
1,544,596
-98,038
| -6% | -$2.35M |
|
1115
Whirlpool
WHR
$2.54B
| $31.5M | 0.01% |
258,706
+74,968
| +41% | +$8.73M |
|
1116
HUB Group
HUBG
$2.92B
| $31.4M | 0.01% |
683,896
-78,936
| -10% | -$3.1M |
|
1117
Fox Factory Holding Corp
FOXF
$785M
| $31.4M | 0.01% |
465,758
+92,407
| +25% | +$6.74M |
|
1118
Shoals Technologies Group
SHLS
$1.57B
| $31.4M | 0.01% |
2,021,619
-1,265,048
| -38% | -$19.1M |
|
1119
WSFS Financial
WSFS
$4.21B
| $31.4M | 0.01% |
682,979
+15,340
| +2% | +$602K |
|
1120
ABM Industries
ABM
$2.86B
| $31.3M | 0.01% |
698,420
+23,829
| +4% | +$1.01M |
|
1121
Concentrix
CNXC
$1.52B
| $31.3M | 0.01% |
318,641
-155,897
| -33% | -$13.6M |
|
1122
PennyMac Financial
PFSI
$3.97B
| $31.3M | 0.01% |
353,716
+337,249
| +2,048% | +$25.3M |
|
1123
Diodes
DIOD
$4.06B
| $31.2M | 0.01% |
387,977
-41,829
| -10% | -$3.05M |
|
1124
Marriott Vacations Worldwide
VAC
$3.39B
| $31.2M | 0.01% |
367,773
-30,832
| -8% | -$2.63M |
|
1125
Primerica
PRI
$9.92B
| $31.2M | 0.01% |
151,602
-186,655
| -55% | -$38.1M |
|
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.