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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+4.85%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$669B
AUM Growth
+$35.7B
Cap. Flow
+$16.5B
Cap. Flow %
2.46%
Top 10 Hldgs %
31.21%
Holding
2,011
New
126
Increased
838
Reduced
818
Closed
81

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$2.32B
2
AAPL icon
Apple
AAPL
+$2.24B
3
MSFT icon
Microsoft
MSFT
+$1.26B
4
AMZN icon
Amazon
AMZN
+$1.21B
5
XOM icon
ExxonMobil
XOM
+$882M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.69B
2
PANW icon
Palo Alto Networks
PANW
+$614M
3
BKNG icon
Booking.com
BKNG
+$591M
4
EQIX icon
Equinix
EQIX
+$417M
5
MU icon
Micron Technology
MU
+$324M

Sector Composition

Rank Sector Weight
1 Technology 30.28%
2 Financials 13.68%
3 Healthcare 11.64%
4 Consumer Discretionary 10.49%
5 Communication Services 8.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SAGE
1976
DELISTED
Sage Therapeutics
SAGE
– –
-256,052
Closed -$4.8M
ECHO
1977
EchoStar
ECHO
$25.3B
– –
-471,600
Closed -$6.72M
SITM icon
1978
SiTime
SITM
$16.4B
– –
-96,479
Closed -$8.99M
SKIN icon
1979
SkinHealth Systems
SKIN
$90.9M
– –
-124,300
Closed -$552K
SPCE icon
1980
Virgin Galactic
SPCE
$371M
– –
-32,583
Closed -$964K
SSTK icon
1981
Shutterstock
SSTK
$228M
– –
-14,148
Closed -$648K
STOK icon
1982
Stoke Therapeutics
STOK
$1.97B
– –
-50,000
Closed -$675K
TARS icon
1983
Tarsus Pharmaceuticals
TARS
$2.63B
– –
-160,100
Closed -$5.82M
TERN
1984
DELISTED
Terns Pharmaceuticals
TERN
– –
-137,100
Closed -$899K
TPB icon
1985
Turning Point Brands
TPB
$1.62B
– –
-56,100
Closed -$1.64M
UNFI icon
1986
United Natural Foods
UNFI
$2.93B
– –
-271,000
Closed -$3.11M
VCEL icon
1987
Vericel Corp
VCEL
$2.35B
– –
-14,078
Closed -$732K
VECO icon
1988
Veeco
VECO
$3.18B
– –
-246,400
Closed -$8.67M
VMEO
1989
DELISTED
Vimeo
VMEO
– –
-1,262,500
Closed -$5.16M
WBX
1990
Wallbox
WBX
$81.5M
– –
-20,862
Closed -$592K
WMG icon
1991
Warner Music
WMG
$13.3B
– –
-1,324,684
Closed -$43.7M
WWW icon
1992
Wolverine World Wide
WWW
$1.6B
– –
-33,172
Closed -$372K
XPER icon
1993
Xperi
XPER
$378M
– –
-74,600
Closed -$900K
ZIP icon
1994
ZipRecruiter
ZIP
$353M
– –
-96,900
Closed -$1.11M
ALAB icon
1995
Astera Labs
ALAB
$55.3B
– –
-120,000
Closed -$8.9M
XIFR
1996
XPLR Infrastructure LP
XIFR
$1.1B
– –
-547,400
Closed -$16.5M
JOYY
1997
JOYY Inc
JOYY
$3.76B
– –
-7,501
Closed -$231K
ZUO
1998
DELISTED
Zuora, Inc.
ZUO
– –
-88,500
Closed -$807K
PGRU
1999
DELISTED
PropertyGuru Group Limited
PGRU
– –
-290,000
Closed -$1.1M
SAVE
2000
DELISTED
Spirit Airlines, Inc.
SAVE
– –
-97,857
Closed -$474K
77 78 79
80
81

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Norges Bank's Q2 2024 Portfolio in Review

As of Q2 2024, Norges Bank held 2,011 positions worth $669B, up 5.6% from $634B the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Norges Bank's Q2 2024 filing shows 126 new, 838 increased, 818 reduced and 81 closed positions. Its largest new stake was Ferrovial N.V. Ordinary Shares: 12,011,984 shares worth $462M. The largest sale was Alphabet (Google) Class C, an estimated $1.69B.

By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 28% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q2 2024 buy was Ferrovial N.V. Ordinary Shares: 12,011,984 shares worth $462M.
  • Norges Bank added most to Alphabet (Google) Class A in Q2 2024, an estimated $2.32B increase.
  • Norges Bank's biggest Q2 2024 reduction was Alphabet (Google) Class C, cutting an estimated $1.69B.
  • Norges Bank fully exited Shockwave Medical, Inc. Common Stock in Q2 2024, selling an estimated $168M.
  • Norges Bank's ten largest holdings make up 31% of its $669B portfolio in Q2 2024.
  • Norges Bank opened 126 new positions and closed 81 in Q2 2024.
  • Norges Bank's portfolio value rose 5.6% quarter-over-quarter to $669B.

Based on Norges Bank's 13F filing for Q2 2024, filed 14 Aug 2024.