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 | |
|---|---|---|---|---|---|---|
1801
AerSale
ASLE
$259M
| $403K | ﹤0.01% |
79,800
-109,800
| -58% | -$634K |
|
1802
Hain Celestial
HAIN
$54.2M
| $402K | ﹤0.01% |
46,583
-348,551
| -88% | -$2.61M |
|
|
DAO
1803
Youdao
DAO
$1.75B
| $401K | ﹤0.01% |
96,600
| – | – |
|
|
AMPS
1804
DELISTED
Altus Power
AMPS
| $391K | ﹤0.01% |
123,100
-208,800
| -63% | -$744K |
|
1805
Kenon Holdings
KEN
$3.35B
| $387K | ﹤0.01% |
13,711
| – | – |
|
1806
ePlus
PLUS
$2.42B
| $384K | ﹤0.01% |
3,900
-38,200
| -91% | -$3.36M |
|
|
VERV
1807
DELISTED
Verve Therapeutics
VERV
| $378K | ﹤0.01% |
78,186
| – | – |
|
|
FLNA
1808
Filana Therapeutics
FLNA
$34.7M
| $346K | ﹤0.01% |
11,747
-135,892
| -92% | -$3.13M |
|
1809
Joby Aviation
JOBY
$6.26B
| $328K | ﹤0.01% |
65,285
| – | – |
|
|
UNIT
1810
Uniti Group
UNIT
$2.36B
| $324K | ﹤0.01% |
57,533
-817,828
| -93% | -$3.49M |
|
|
ONL
1811
Orion Office REIT
ONL
$144M
| $302K | ﹤0.01% |
75,424
-186,400
| -71% | -$730K |
|
1812
Braskem
BAK
$801M
| $301K | ﹤0.01% |
41,063
| – | – |
|
|
KLG
1813
DELISTED
WK Kellogg Co
KLG
| $297K | ﹤0.01% |
17,367
-32,794
| -65% | -$563K |
|
|
NOAH
1814
Noah Holdings
NOAH
$552M
| $293K | ﹤0.01% |
23,800
-49,500
| -68% | -$411K |
|
1815
Grindr
GRND
$2.73B
| $289K | ﹤0.01% |
+24,200
| New | +$287K |
|
1816
Praxis Precision Medicines
PRAX
$9.23B
| $288K | ﹤0.01% |
5,000
-27,005
| -84% | -$1.46M |
|
|
HBI
1817
DELISTED
Hanesbrands
HBI
| $272K | ﹤0.01% |
36,965
| – | – |
|
1818
Star Holdings Shares of Beneficial Interest
STHO
$113M
| $269K | ﹤0.01% |
19,431
| – | – |
|
1819
American Well
AMWL
$236M
| $266K | ﹤0.01% |
28,070
| – | – |
|
1820
Oppenheimer Holdings
OPY
$1.28B
| $261K | ﹤0.01% |
5,100
| – | – |
|
1821
Aurinia Pharmaceuticals
AUPH
$2.18B
| $260K | ﹤0.01% |
35,532
-78,513
| -69% | -$487K |
|
1822
Fractyl Health
GUTS
$97.4M
| $253K | ﹤0.01% |
100,000
-213,541
| -68% | -$697K |
|
|
BRKL
1823
DELISTED
Brookline Bancorp
BRKL
| $253K | ﹤0.01% |
25,034
-407,851
| -94% | -$4M |
|
|
LPRO
1824
DELISTED
Open Lending Corp
LPRO
| $242K | ﹤0.01% |
39,503
-39,995
| -50% | -$230K |
|
|
THR
1825
DELISTED
Thermon Group Holdings
THR
| $239K | ﹤0.01% |
8,000
-37,400
| -82% | -$1.13M |
|
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.