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 | |
|---|---|---|---|---|---|---|
1401
MillerKnoll
MLKN
$1.67B
| $13.1M | ﹤0.01% |
491,430
-25,084
| -5% | -$640K |
|
1402
Dana Inc
DAN
$2.98B
| $13M | ﹤0.01% |
892,079
-100,305
| -10% | -$1.33M |
|
1403
Atour Lifestyle Holdings
ATAT
$4.75B
| $13M | ﹤0.01% |
+750,000
| New | +$13.6M |
|
1404
Red Rock Resorts
RRR
$3.83B
| $12.9M | ﹤0.01% |
241,513
+107,496
| +80% | +$4.77M |
|
1405
Stepan Co
SCL
$1.45B
| $12.9M | ﹤0.01% |
136,111
-14,211
| -9% | -$1.14M |
|
1406
Brinker International
EAT
$9.4B
| $12.9M | ﹤0.01% |
297,659
+233,095
| +361% | +$8.38M |
|
1407
Kymera Therapeutics
KYMR
$8.58B
| $12.8M | ﹤0.01% |
504,083
+386,200
| +328% | +$6.91M |
|
|
DOOR
1408
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $12.8M | ﹤0.01% |
151,175
-12,011
| -7% | -$1.04M |
|
|
TGI
1409
DELISTED
Triumph Group
TGI
| $12.7M | ﹤0.01% |
767,200
| – | – |
|
1410
PROG Holdings
PRG
$1.83B
| $12.7M | ﹤0.01% |
409,771
+57,713
| +16% | +$1.69M |
|
1411
SiTime
SITM
$17.5B
| $12.7M | ﹤0.01% |
103,721
-17,420
| -14% | -$1.97M |
|
1412
AMC Entertainment Holdings
AMC
$2.35B
| $12.6M | ﹤0.01% |
2,059,671
+1,363,956
| +196% | +$11.1M |
|
1413
Virtu Financial
VIRT
$5.1B
| $12.6M | ﹤0.01% |
620,679
-129,004
| -17% | -$2.38M |
|
1414
Standex International
SXI
$3.96B
| $12.6M | ﹤0.01% |
79,301
-6,372
| -7% | -$917K |
|
1415
NBT Bancorp
NBTB
$2.82B
| $12.5M | ﹤0.01% |
299,374
-33,946
| -10% | -$1.23M |
|
1416
Federated Hermes
FHI
$4.8B
| $12.5M | ﹤0.01% |
368,400
+215,200
| +140% | +$7.01M |
|
|
PRO
1417
DELISTED
PROS Holdings
PRO
| $12.4M | ﹤0.01% |
320,591
-64,948
| -17% | -$2.33M |
|
1418
Box
BOX
$4.42B
| $12.4M | ﹤0.01% |
482,998
-233,041
| -33% | -$5.89M |
|
|
SWTX
1419
DELISTED
SpringWorks Therapeutics
SWTX
| $12.3M | ﹤0.01% |
337,833
+70,000
| +26% | +$1.83M |
|
1420
RELX
RELX
$64.1B
| $12.3M | ﹤0.01% |
309,000
| – | – |
|
1421
Shake Shack
SHAK
$2.65B
| $12.2M | ﹤0.01% |
165,109
-99,733
| -38% | -$6.12M |
|
1422
Tennant Co
TNC
$1.49B
| $12.2M | ﹤0.01% |
131,543
-18,658
| -12% | -$1.55M |
|
1423
Upbound Group
UPBD
$1.21B
| $12.2M | ﹤0.01% |
358,254
-25,440
| -7% | -$758K |
|
1424
Polaris
PII
$4.19B
| $12.2M | ﹤0.01% |
128,390
+37,612
| +41% | +$3.45M |
|
1425
Skywest
SKYW
$4.55B
| $12.1M | ﹤0.01% |
232,449
+178,149
| +328% | +$8.01M |
|
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.