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 | |
|---|---|---|---|---|---|---|
1376
Vicor
VICR
$8.48B
| $9.54M | ﹤0.01% |
226,662
+147,939
| +188% | +$5.5M |
|
1377
Constellium
CSTM
$3.47B
| $9.53M | ﹤0.01% |
586,239
-311,055
| -35% | -$5.28M |
|
1378
ArcBest
ARCB
$3.01B
| $9.48M | ﹤0.01% |
87,458
-10,678
| -11% | -$1.17M |
|
1379
AstraZeneca
AZN
$251B
| $9.41M | ﹤0.01% |
60,395
| – | – |
|
1380
Kyndryl
KD
$2.88B
| $9.33M | ﹤0.01% |
406,140
-421,193
| -51% | -$10.3M |
|
1381
Fortrea Holdings
FTRE
$1.88B
| $9.32M | ﹤0.01% |
465,882
+119,640
| +35% | +$2.81M |
|
1382
Energizer
ENR
$1.4B
| $9.3M | ﹤0.01% |
292,813
-45,593
| -13% | -$1.37M |
|
1383
Oceaneering
OII
$4.75B
| $9.29M | ﹤0.01% |
373,518
-116,874
| -24% | -$3.01M |
|
1384
First Merchants
FRME
$2.62B
| $9.24M | ﹤0.01% |
248,305
-49,849
| -17% | -$1.85M |
|
1385
LeMaitre Vascular
LMAT
$1.84B
| $9.13M | ﹤0.01% |
+98,278
| New | +$8.52M |
|
1386
Chesapeake Utilities
CPK
$3.1B
| $8.87M | ﹤0.01% |
71,445
+65,358
| +1,074% | +$7.63M |
|
1387
Standex International
SXI
$3.13B
| $8.84M | ﹤0.01% |
48,362
-16,494
| -25% | -$2.87M |
|
1388
Shoals Technologies Group
SHLS
$1.19B
| $8.83M | ﹤0.01% |
1,574,107
-1,398,024
| -47% | -$8.36M |
|
1389
Telephone and Data Systems
TDS
$4.35B
| $8.81M | ﹤0.01% |
379,024
-46,666
| -11% | -$1.02M |
|
|
ROIC
1390
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $8.79M | ﹤0.01% |
558,553
-77,457
| -12% | -$1.13M |
|
1391
WaFd
WAFD
$2.44B
| $8.73M | ﹤0.01% |
250,587
-124,893
| -33% | -$4.25M |
|
|
TGI
1392
DELISTED
Triumph Group
TGI
| $8.73M | ﹤0.01% |
677,300
-61,700
| -8% | -$895K |
|
1393
Guidewire Software
GWRE
$12.4B
| $8.72M | ﹤0.01% |
47,671
+6,680
| +16% | +$1.01M |
|
|
ODP
1394
DELISTED
ODP
ODP
| $8.66M | ﹤0.01% |
290,997
-28,868
| -9% | -$962K |
|
|
VSTO
1395
DELISTED
Vista Outdoor Inc.
VSTO
| $8.62M | ﹤0.01% |
219,902
-62,223
| -22% | -$2.41M |
|
|
NVEI
1396
DELISTED
Nuvei Corporation Subordinate Voting Shares
NVEI
| $8.6M | ﹤0.01% |
257,900
| – | – |
|
|
NBIS
1397
Nebius Group N.V.
NBIS
$56.4B
| $8.56M | ﹤0.01% |
2,934,312
| – | – |
|
1398
Central Garden & Pet Co Class A
CENTA
$2.17B
| $8.46M | ﹤0.01% |
269,432
-173,953
| -39% | -$5.78M |
|
1399
Equinox Gold
EQX
$13.8B
| $8.45M | ﹤0.01% |
1,386,435
-134,676
| -9% | -$760K |
|
|
IPG
1400
DELISTED
Interpublic Group of Companies
IPG
| $8.44M | ﹤0.01% |
266,984
-486,885
| -65% | -$14.9M |
|
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.