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 | |
|---|---|---|---|---|---|---|
|
ONTF
1876
DELISTED
ON24
ONTF
| $844K | ﹤0.01% |
107,100
| – | – |
|
1877
American Well
AMWL
$180M
| $836K | ﹤0.01% |
28,070
| – | – |
|
1878
Ooma
OOMA
$598M
| $814K | ﹤0.01% |
75,900
| – | – |
|
1879
Adicet Bio
ACET
$85.2M
| $812K | ﹤0.01% |
26,847
| – | – |
|
1880
National Presto Industries
NPK
$870M
| $811K | ﹤0.01% |
10,100
-3,700
| -27% | -$284K |
|
1881
SmartRent
SMRT
$195M
| $798K | ﹤0.01% |
+250,000
| New | +$730K |
|
1882
Liberty Global Class C
LBTYK
$3.53B
| $795K | ﹤0.01% |
42,629
+30,610
| +255% | +$530K |
|
1883
Perion Network
PERI
$375M
| $793K | ﹤0.01% |
25,058
-43,267
| -63% | -$1.23M |
|
|
CWAN
1884
DELISTED
Clearwater Analytics
CWAN
| $748K | ﹤0.01% |
37,361
-86,138
| -70% | -$1.7M |
|
|
GPMT
1885
Granite Point Mortgage Trust
GPMT
$69M
| $745K | ﹤0.01% |
+125,400
| New | +$631K |
|
1886
Star Holdings Shares of Beneficial Interest
STHO
$113M
| $706K | ﹤0.01% |
47,139
| – | – |
|
1887
SiriusPoint
SPNT
$2.75B
| $653K | ﹤0.01% |
56,273
| – | – |
|
|
ZIMV
1888
DELISTED
ZimVie
ZIMV
| $651K | ﹤0.01% |
+36,703
| New | +$370K |
|
1889
Evolus
EOLS
$385M
| $650K | ﹤0.01% |
61,700
-67,400
| -52% | -$603K |
|
1890
Chesapeake Utilities
CPK
$3.19B
| $643K | ﹤0.01% |
6,087
-32,030
| -84% | -$3.05M |
|
1891
Travere Therapeutics
TVTX
$5.2B
| $638K | ﹤0.01% |
71,000
| – | – |
|
|
TDAY
1892
USA Today Co
TDAY
$1.27B
| $620K | ﹤0.01% |
269,500
-54,897
| -17% | -$122K |
|
1893
ZIM Integrated Shipping Services
ZIM
$3.04B
| $610K | ﹤0.01% |
61,800
-300,000
| -83% | -$2.52M |
|
1894
WisdomTree
WT
$2.96B
| $606K | ﹤0.01% |
87,466
| – | – |
|
1895
Inogen
INGN
$175M
| $604K | ﹤0.01% |
109,949
| – | – |
|
1896
Ameresco
AMRC
$1.12B
| $565K | ﹤0.01% |
17,828
-47,216
| -73% | -$1.42M |
|
|
SPWR
1897
DELISTED
SunPower Corporation Common Stock
SPWR
| $553K | ﹤0.01% |
114,538
-820,883
| -88% | -$3.92M |
|
1898
Rio Tinto
RIO
$158B
| $548K | ﹤0.01% |
7,353
| – | – |
|
|
YSG
1899
Yatsen Holding
YSG
$322M
| $529K | ﹤0.01% |
144,628
| – | – |
|
1900
Hamilton Insurance Group
HG
$3.57B
| $502K | ﹤0.01% |
+33,589
| New | +$507K |
|
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.