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 | |
|---|---|---|---|---|---|---|
1551
Certara
CERT
$1.15B
| $4.4M | ﹤0.01% |
375,492
-24,049
| -6% | -$317K |
|
1552
Oxford Industries
OXM
$472M
| $4.39M | ﹤0.01% |
50,605
-15,359
| -23% | -$1.41M |
|
1553
Sylvamo
SLVM
$1.4B
| $4.37M | ﹤0.01% |
50,941
-98,515
| -66% | -$7.35M |
|
1554
Xencor
XNCR
$1.81B
| $4.36M | ﹤0.01% |
216,859
-3,034
| -1% | -$57K |
|
|
ACH
1555
Accendra Health
ACH
$86.1M
| $4.34M | ﹤0.01% |
276,384
-67,116
| -20% | -$1.02M |
|
|
PDCO
1556
DELISTED
Patterson Companies, Inc.
PDCO
| $4.32M | ﹤0.01% |
197,834
-801,629
| -80% | -$18.9M |
|
1557
Kymera Therapeutics
KYMR
$9.53B
| $4.32M | ﹤0.01% |
91,231
-26,652
| -23% | -$1.18M |
|
1558
1st Source
SRCE
$2.1B
| $4.26M | ﹤0.01% |
71,104
-10,487
| -13% | -$618K |
|
|
AVNS
1559
DELISTED
Avanos Medical
AVNS
| $4.19M | ﹤0.01% |
174,235
-75,205
| -30% | -$1.72M |
|
1560
Replimune Group
REPL
$1.24B
| $4.16M | ﹤0.01% |
379,400
-80,500
| -18% | -$818K |
|
|
BBT
1561
Beacon Financial Corp
BBT
$2.63B
| $4.15M | ﹤0.01% |
154,020
-50,202
| -25% | -$1.31M |
|
1562
TriMas Corp
TRS
$1.38B
| $4.08M | ﹤0.01% |
159,656
-28,049
| -15% | -$703K |
|
1563
Innoviva
INVA
$1.49B
| $4.06M | ﹤0.01% |
210,009
-45,267
| -18% | -$834K |
|
1564
Pacira BioSciences
PCRX
$984M
| $4.05M | ﹤0.01% |
269,304
+59,247
| +28% | +$1.01M |
|
1565
Encore Capital Group
ECPG
$2.09B
| $4.03M | ﹤0.01% |
85,287
-13,126
| -13% | -$623K |
|
1566
La-Z-Boy
LZB
$1.23B
| $3.97M | ﹤0.01% |
92,421
-17,891
| -16% | -$737K |
|
1567
InMode
INMD
$857M
| $3.94M | ﹤0.01% |
232,715
-89,660
| -28% | -$1.51M |
|
1568
Alignment Healthcare
ALHC
$2.68B
| $3.93M | ﹤0.01% |
332,830
-98,145
| -23% | -$928K |
|
1569
MillerKnoll
MLKN
$1.46B
| $3.89M | ﹤0.01% |
157,219
-105,225
| -40% | -$2.92M |
|
1570
Appian
APPN
$2.49B
| $3.87M | ﹤0.01% |
113,479
+73,191
| +182% | +$2.37M |
|
1571
EQT Corp
EQT
$33.3B
| $3.84M | ﹤0.01% |
+104,802
| New | +$3.56M |
|
1572
Upwork
UPWK
$1.09B
| $3.8M | ﹤0.01% |
364,002
+203,377
| +127% | +$2.12M |
|
1573
ReNew
RNW
$2.49B
| $3.78M | ﹤0.01% |
601,386
| – | – |
|
1574
Lindsay Corp
LNN
$1.2B
| $3.78M | ﹤0.01% |
30,299
-11,699
| -28% | -$1.4M |
|
1575
Primerica
PRI
$9B
| $3.76M | ﹤0.01% |
14,187
+7,410
| +109% | +$1.87M |
|
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.