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 | |
|---|---|---|---|---|---|---|
|
SPNS
1676
DELISTED
Sapiens International
SPNS
| $1.7M | ﹤0.01% |
45,728
| – | – |
|
1677
Excelerate Energy
EE
$1.19B
| $1.69M | ﹤0.01% |
76,700
| – | – |
|
1678
Opko Health
OPK
$1.16B
| $1.68M | ﹤0.01% |
1,127,468
-203,252
| -15% | -$302K |
|
|
DAY
1679
DELISTED
Dayforce
DAY
| $1.66M | ﹤0.01% |
27,133
-32,017
| -54% | -$1.76M |
|
1680
Columbia Financial
CLBK
$1.19B
| $1.65M | ﹤0.01% |
213,171
-30,813
| -13% | -$236K |
|
1681
Arcutis Biotherapeutics
ARQT
$3.05B
| $1.63M | ﹤0.01% |
174,820
| – | – |
|
1682
Ironwood Pharmaceuticals
IRWD
$689M
| $1.62M | ﹤0.01% |
394,266
-998,811
| -72% | -$5.37M |
|
1683
Grocery Outlet
GO
$1.16B
| $1.61M | ﹤0.01% |
91,681
-858,959
| -90% | -$16.3M |
|
1684
Coeur Mining
CDE
$20.4B
| $1.6M | ﹤0.01% |
+232,526
| New | +$1.45M |
|
1685
BlueLinx
BXC
$620M
| $1.58M | ﹤0.01% |
15,000
| – | – |
|
1686
US Physical Therapy
USPH
$1.2B
| $1.57M | ﹤0.01% |
+18,609
| New | +$1.65M |
|
1687
Northwest Natural Holdings
NWN
$2.04B
| $1.56M | ﹤0.01% |
38,260
-91,451
| -71% | -$3.57M |
|
1688
America Movil
AMX
$69.2B
| $1.56M | ﹤0.01% |
95,201
| – | – |
|
1689
Usana Health Sciences
USNA
$282M
| $1.55M | ﹤0.01% |
40,980
-6,417
| -14% | -$264K |
|
1690
Driven Brands
DRVN
$2.06B
| $1.54M | ﹤0.01% |
107,900
-680,610
| -86% | -$9.32M |
|
|
TDAY
1691
USA Today Co
TDAY
$968M
| $1.51M | ﹤0.01% |
269,500
| – | – |
|
|
ARR
1692
Armour Residential REIT
ARR
$2.19B
| $1.51M | ﹤0.01% |
74,120
| – | – |
|
1693
National Presto Industries
NPK
$1.09B
| $1.48M | ﹤0.01% |
19,700
| – | – |
|
|
VNET
1694
VNET Group
VNET
$1.75B
| $1.47M | ﹤0.01% |
360,272
| – | – |
|
1695
Neumora Therapeutics
NMRA
$188M
| $1.45M | ﹤0.01% |
110,000
| – | – |
|
|
CHUY
1696
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
| $1.45M | ﹤0.01% |
38,800
-30,900
| -44% | -$1.08M |
|
|
RAPP
1697
Rapport Therapeutics
RAPP
$2.11B
| $1.43M | ﹤0.01% |
70,000
| – | – |
|
1698
FIVE9
FIVN
$2.37B
| $1.41M | ﹤0.01% |
49,139
-880,321
| -95% | -$31.8M |
|
1699
Organogenesis Holdings
ORGO
$193M
| $1.38M | ﹤0.01% |
482,200
| – | – |
|
|
LGF.B
1700
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $1.35M | ﹤0.01% |
195,205
-83,843
| -30% | -$630K |
|
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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.