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 | |
|---|---|---|---|---|---|---|
1726
Weave Communications
WEAV
$520M
| $3.66M | ﹤0.01% |
319,300
| – | – |
|
1727
TechTarget
TTGT
$325M
| $3.63M | ﹤0.01% |
104,120
| – | – |
|
|
GES
1728
DELISTED
Guess Inc
GES
| $3.55M | ﹤0.01% |
153,863
| – | – |
|
1729
World Acceptance Corp
WRLD
$838M
| $3.53M | ﹤0.01% |
27,014
+4,314
| +19% | +$505K |
|
|
ARR
1730
Armour Residential REIT
ARR
$2.33B
| $3.51M | ﹤0.01% |
181,474
-1
| -0% | -$18 |
|
1731
SiriusXM
SIRI
$9.98B
| $3.48M | ﹤0.01% |
63,530
+1,690
| +3% | +$81.2K |
|
1732
Digital Turbine
APPS
$975M
| $3.47M | ﹤0.01% |
506,381
-69,424
| -12% | -$388K |
|
1733
SunCoke Energy
SXC
$720M
| $3.46M | ﹤0.01% |
322,000
| – | – |
|
1734
Quanex
NX
$819M
| $3.45M | ﹤0.01% |
113,000
-9,591
| -8% | -$283K |
|
1735
Adaptive Biotechnologies
ADPT
$3.59B
| $3.38M | ﹤0.01% |
689,150
-116,822
| -14% | -$533K |
|
|
VISN
1736
Vistance Networks Inc
VISN
$2.65B
| $3.38M | ﹤0.01% |
1,197,351
-179,211
| -13% | -$388K |
|
|
BFS
1737
Saul Centers
BFS
$836M
| $3.35M | ﹤0.01% |
85,342
-15,401
| -15% | -$564K |
|
1738
3D Systems Corp
DDD
$431M
| $3.33M | ﹤0.01% |
524,144
+306,197
| +140% | +$1.51M |
|
1739
SFL Corp
SFL
$1.64B
| $3.31M | ﹤0.01% |
293,707
-622,973
| -68% | -$6.93M |
|
|
LGF.B
1740
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $3.28M | ﹤0.01% |
322,090
-35,461
| -10% | -$304K |
|
|
MOMO
1741
Hello Group
MOMO
$885M
| $3.26M | ﹤0.01% |
468,975
-486,111
| -51% | -$3.38M |
|
|
ONL
1742
Orion Office REIT
ONL
$150M
| $3.24M | ﹤0.01% |
567,180
| – | – |
|
1743
Tarsus Pharmaceuticals
TARS
$2.58B
| $3.24M | ﹤0.01% |
+160,100
| New | +$2.67M |
|
1744
Nordic American Tanker
NAT
$1.38B
| $3.23M | ﹤0.01% |
+768,585
| New | +$3.27M |
|
|
SHYF
1745
DELISTED
The Shyft Group
SHYF
| $3.2M | ﹤0.01% |
262,000
| – | – |
|
1746
Republic Bancorp
RBCAA
$1.95B
| $3.17M | ﹤0.01% |
57,502
| – | – |
|
1747
Rush Street Interactive
RSI
$2.77B
| $3.15M | ﹤0.01% |
702,000
| – | – |
|
1748
B&G Foods
BGS
$287M
| $3.1M | ﹤0.01% |
295,229
-59,880
| -17% | -$554K |
|
1749
TTEC Holdings
TTEC
$121M
| $3.09M | ﹤0.01% |
142,423
-24,839
| -15% | -$523K |
|
1750
Green Dot
GDOT
$743M
| $3.03M | ﹤0.01% |
306,013
| – | – |
|
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.