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 | |
|---|---|---|---|---|---|---|
|
CSR
1651
Centerspace
CSR
$921M
| $5.65M | ﹤0.01% |
97,131
-12,520
| -11% | -$684K |
|
|
BLUE
1652
DELISTED
bluebird bio
BLUE
| $5.51M | ﹤0.01% |
199,780
+197,910
| +10,583% | +$12.1M |
|
1653
Sterling Infrastructure
STRL
$18.3B
| $5.51M | ﹤0.01% |
+62,675
| New | +$4.53M |
|
1654
Hilltop Holdings
HTH
$2.26B
| $5.47M | ﹤0.01% |
155,443
-211,997
| -58% | -$6.41M |
|
1655
Sturm, Ruger & Co
RGR
$594M
| $5.44M | ﹤0.01% |
119,693
-13,807
| -10% | -$663K |
|
1656
Varex Imaging
VREX
$472M
| $5.41M | ﹤0.01% |
263,915
-44,624
| -14% | -$852K |
|
1657
Hudbay
HBM
$10.1B
| $5.36M | ﹤0.01% |
975,024
| – | – |
|
|
SAFE
1658
Safehold
SAFE
$1.16B
| $5.36M | ﹤0.01% |
229,237
| – | – |
|
1659
AbCellera Biologics
ABCL
$1.74B
| $5.27M | ﹤0.01% |
922,214
| – | – |
|
1660
Pediatrix Medical
MD
$2.18B
| $5.25M | ﹤0.01% |
564,823
-122,890
| -18% | -$1.27M |
|
1661
Playtika
PLTK
$1.52B
| $5.24M | ﹤0.01% |
600,685
+119,200
| +25% | +$1.04M |
|
|
NBIS
1662
Nebius Group N.V.
NBIS
$48.3B
| $5.22M | ﹤0.01% |
2,934,312
| – | – |
|
1663
Healthcare Services Group
HCSG
$1.6B
| $5.21M | ﹤0.01% |
501,945
-80,727
| -14% | -$806K |
|
1664
Capitol Federal Financial
CFFN
$1.09B
| $5.18M | ﹤0.01% |
803,181
-91,954
| -10% | -$494K |
|
1665
Hertz
HTZ
$500M
| $5.18M | ﹤0.01% |
498,521
-941,757
| -65% | -$9.09M |
|
1666
FIGS
FIGS
$1.79B
| $5.15M | ﹤0.01% |
740,343
| – | – |
|
1667
Fulgent Genetics
FLGT
$470M
| $5.1M | ﹤0.01% |
176,510
-31,300
| -15% | -$837K |
|
|
MCW
1668
DELISTED
Mister Car Wash
MCW
| $5.08M | ﹤0.01% |
588,433
+218,738
| +59% | +$1.48M |
|
|
LAR
1669
Lithium Argentina AG
LAR
$985M
| $5.08M | ﹤0.01% |
+805,324
| New | +$4.86M |
|
1670
Star Bulk Carriers
SBLK
$3.21B
| $5.02M | ﹤0.01% |
236,138
| – | – |
|
1671
Camping World
CWH
$639M
| $5.02M | ﹤0.01% |
190,980
| – | – |
|
|
HOUS
1672
DELISTED
Anywhere Real Estate
HOUS
| $5M | ﹤0.01% |
616,564
-121,359
| -16% | -$688K |
|
1673
Liberty Live Group Series A
LLYVA
$8.71B
| $4.98M | ﹤0.01% |
136,243
| – | – |
|
1674
Dine Brands
DIN
$456M
| $4.97M | ﹤0.01% |
100,071
+43,748
| +78% | +$2.08M |
|
1675
Alignment Healthcare
ALHC
$3.08B
| $4.96M | ﹤0.01% |
575,605
-33,829
| -6% | -$247K |
|
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.