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 | |
|---|---|---|---|---|---|---|
1776
Zentalis Pharmaceuticals
ZNTL
$340M
| $2.49M | ﹤0.01% |
164,342
| – | – |
|
|
DAWN
1777
DELISTED
Day One Biopharmaceuticals
DAWN
| $2.47M | ﹤0.01% |
169,000
| – | – |
|
|
KAMN
1778
DELISTED
Kaman Corp
KAMN
| $2.46M | ﹤0.01% |
102,700
| – | – |
|
|
LTHM
1779
DELISTED
Livent Corporation
LTHM
| $2.4M | ﹤0.01% |
133,624
-20,530
| -13% | -$320K |
|
|
UDMY
1780
DELISTED
Udemy
UDMY
| $2.4M | ﹤0.01% |
+162,600
| New | +$2.02M |
|
1781
Dutch Bros
BROS
$9.35B
| $2.37M | ﹤0.01% |
74,682
| – | – |
|
1782
CryoPort
CYRX
$765M
| $2.35M | ﹤0.01% |
151,611
-58,327
| -28% | -$762K |
|
1783
OrthoPediatrics
KIDS
$539M
| $2.3M | ﹤0.01% |
70,700
+53,682
| +315% | +$1.56M |
|
|
DADA
1784
DELISTED
Dada Nexus
DADA
| $2.3M | ﹤0.01% |
691,798
| – | – |
|
1785
StoneX
SNEX
$9.35B
| $2.3M | ﹤0.01% |
+104,963
| New | +$1.99M |
|
|
AMK
1786
DELISTED
AssetMark Financial Holdings, Inc.
AMK
| $2.28M | ﹤0.01% |
76,200
-400
| -0.5% | -$10.3K |
|
1787
Ardagh Metal Packaging
AMBP
$2.89B
| $2.26M | ﹤0.01% |
588,240
-707,551
| -55% | -$2.46M |
|
1788
Herbalife
HLF
$1.31B
| $2.22M | ﹤0.01% |
145,782
-400,226
| -73% | -$5.53M |
|
1789
StepStone Group
STEP
$3.82B
| $2.21M | ﹤0.01% |
69,528
-18,213
| -21% | -$514K |
|
1790
IMAX
IMAX
$2.76B
| $2.18M | ﹤0.01% |
144,972
| – | – |
|
|
TAST
1791
DELISTED
Carrols Restaurant Group, Inc.
TAST
| $2.11M | ﹤0.01% |
+267,917
| New | +$1.83M |
|
1792
Zymeworks
ZYME
$1.61B
| $2.1M | ﹤0.01% |
+201,700
| New | +$1.61M |
|
1793
Consolidated Water Co
CWCO
$473M
| $1.97M | ﹤0.01% |
+55,417
| New | +$1.83M |
|
1794
Organogenesis Holdings
ORGO
$306M
| $1.97M | ﹤0.01% |
482,200
| – | – |
|
1795
GameStop
GME
$8.71B
| $1.97M | ﹤0.01% |
112,340
+56,926
| +103% | +$836K |
|
1796
Maravai LifeSciences
MRVI
$969M
| $1.96M | ﹤0.01% |
299,380
| – | – |
|
1797
Atlanta Braves Holdings Series A
BATRA
$3.53B
| $1.95M | ﹤0.01% |
45,474
| – | – |
|
1798
Shutterstock
SSTK
$210M
| $1.92M | ﹤0.01% |
39,695
-126,600
| -76% | -$5.34M |
|
|
OLO
1799
DELISTED
Olo Inc
OLO
| $1.88M | ﹤0.01% |
+328,000
| New | +$1.8M |
|
1800
Enviri
NVRI
$637M
| $1.87M | ﹤0.01% |
207,800
| – | – |
|
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.