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 | |
|---|---|---|---|---|---|---|
1576
Employers Holdings
EIG
$892M
| $3.76M | ﹤0.01% |
78,381
-15,006
| -16% | -$694K |
|
|
HI
1577
DELISTED
Hillenbrand
HI
| $3.74M | ﹤0.01% |
134,460
-751,096
| -85% | -$26.4M |
|
1578
Gray Television
GTN
$499M
| $3.69M | ﹤0.01% |
688,900
-226,696
| -25% | -$1.17M |
|
1579
Enact Holdings
ACT
$6.8B
| $3.68M | ﹤0.01% |
101,200
| – | – |
|
|
PGRE
1580
DELISTED
Paramount Group
PGRE
| $3.62M | ﹤0.01% |
735,878
-131,776
| -15% | -$653K |
|
1581
Cogent Communications
CCOI
$478M
| $3.58M | ﹤0.01% |
47,181
-82,143
| -64% | -$5.66M |
|
1582
Banco Bilbao Vizcaya Argentaria
BBVA
$161B
| $3.58M | ﹤0.01% |
330,000
| – | – |
|
1583
Pricesmart
PSMT
$5.27B
| $3.55M | ﹤0.01% |
38,695
| – | – |
|
|
LGF.A
1584
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $3.47M | ﹤0.01% |
443,751
-132,446
| -23% | -$1.11M |
|
1585
Rhythm Pharmaceuticals
RYTM
$7.21B
| $3.47M | ﹤0.01% |
66,276
+23,038
| +53% | +$1.1M |
|
|
LKFT
1586
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.76B
| $3.45M | ﹤0.01% |
120,000
| – | – |
|
|
MTTR
1587
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
| $3.43M | ﹤0.01% |
762,146
-108,878
| -13% | -$475K |
|
1588
BlackLine
BL
$1.76B
| $3.42M | ﹤0.01% |
61,989
-26,775
| -30% | -$1.32M |
|
|
SWI
1589
DELISTED
SolarWinds Corporation Common Stock
SWI
| $3.35M | ﹤0.01% |
257,065
-23,697
| -8% | -$291K |
|
1590
Universal Technical Institute
UTI
$1.12B
| $3.33M | ﹤0.01% |
204,900
| – | – |
|
1591
Enviri
NVRI
$629M
| $3.32M | ﹤0.01% |
321,267
+140,267
| +77% | +$1.48M |
|
1592
Gibraltar Industries
ROCK
$1.37B
| $3.27M | ﹤0.01% |
46,718
-31,347
| -40% | -$2.19M |
|
1593
Rush Street Interactive
RSI
$3.06B
| $3.25M | ﹤0.01% |
300,000
-243,600
| -45% | -$2.35M |
|
1594
Jack in the Box
JACK
$283M
| $3.25M | ﹤0.01% |
69,762
-28,075
| -29% | -$1.41M |
|
1595
Marcus & Millichap
MMI
$1.18B
| $3.23M | ﹤0.01% |
81,588
-84,060
| -51% | -$3.17M |
|
|
ELME
1596
Elme Communities
ELME
$148M
| $3.22M | ﹤0.01% |
183,041
-197,462
| -52% | -$3.36M |
|
1597
G-III Apparel Group
GIII
$1.2B
| $3.2M | ﹤0.01% |
104,691
-75,476
| -42% | -$2.07M |
|
1598
Horace Mann Educators
HMN
$1.98B
| $3.16M | ﹤0.01% |
90,400
-61,200
| -40% | -$2.09M |
|
|
KW
1599
DELISTED
Kennedy-Wilson Holdings
KW
| $3.14M | ﹤0.01% |
283,743
-58,739
| -17% | -$622K |
|
1600
ICL Group
ICL
$7.31B
| $3.12M | ﹤0.01% |
730,277
-6,232,392
| -90% | -$26.4M |
|
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.