NORGES BANKNORGES BANK

Institutional investor · Portfolio as of Q3 2024

Top Holdings1,839 positions

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Activity:

Microsoft Corp

99M$42.6B5.9%$157.10+169.65%
24 qtrssince 2018-Q4
Increased
63

Apple Inc

181M$42.2B5.9%$74.51+210.11%
24 qtrssince 2018-Q4
Increased
63

NVIDIA Corp

293.1M$35.6B5.0%$12.15+897.11%
24 qtrssince 2018-Q4
Increased
59

Amazon.com Inc

118.5M$22.1B3.1%$94.68+96.80%
24 qtrssince 2018-Q4
Decreased
0

Alphabet Inc

112.5M$18.7B2.6%$91.38+80.24%
24 qtrssince 2018-Q4
Increased
57

Facebook Inc

30M$17.2B2.4%$160.91+253.44%
24 qtrssince 2018-Q4
Decreased
0

Broadcom Inc

64.1M$11B1.5%$65.20+160.07%
24 qtrssince 2018-Q4
Increased
81

Eli Lilly & Co

10.5M$9.3B1.3%$212.05+312.03%
24 qtrssince 2018-Q4
Decreased
0

Tesla Inc

30.9M$8.1B1.1%$111.36+134.93%
24 qtrssince 2018-Q4
Increased
50

Exxon Mobil Corp

64.7M$7.6B1.1%$64.91+69.59%
24 qtrssince 2018-Q4
Increased
50

JPMorgan Chase & Co

35.8M$7.6B1.1%$97.98+106.52%
24 qtrssince 2018-Q4
Decreased
0

UnitedHealth Group Inc

11.9M$7B1.0%$291.90+90.96%
24 qtrssince 2018-Q4
Increased
46

BERKSHIRE HATHAWAY INC CL A

8,805$6.1B0.9%$450,648.78+52.27%
24 qtrssince 2018-Q4
Increased
54

Mastercard Inc

11.7M$5.8B0.8%$241.75+101.83%
24 qtrssince 2018-Q4
Increased
46

UBS Group AG

176M$5.4B0.8%$14.24+104.95%
24 qtrssince 2018-Q4
Increased
47

Procter & Gamble Co/The

30.3M$5.3B0.7%$93.21+76.05%
24 qtrssince 2018-Q4
Decreased
0

Bank of America Corp

130M$5.2B0.7%$26.75+41.91%
24 qtrssince 2018-Q4
Increased
48

Wal-Mart Stores Inc

62.8M$5.1B0.7%$41.66+90.37%
20 qtrssince 2019-Q4
Decreased
0

Home Depot Inc/The

12.2M$4.9B0.7%$176.12+118.56%
24 qtrssince 2018-Q4
Increased
45

Costco Wholesale Corp

5.5M$4.9B0.7%$303.82+188.62%
24 qtrssince 2018-Q4
Increased
47
$715.9B
AUM
1,839
Positions
Q3 2024
Filing
HI score · 3.0/5
Quarterly 13F Value Change
+11%Q2'23$506.7B-3%Q3'23$492.8B+16%Q4'23$572.3B+11%Q1'24$633.6B+6%Q2'24$669.4B+7%Q3'24$715.9B
Activity profile
$ moved · Q3'24
New5%Increased59%Decreased32%Exited4%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 4.8 years
<1Q2%1-4Q4%1-2Y4%2Y+90%

NORGES BANK manages $715.9B across 1839 positions as of Q3 2024. Top holdings: MSFT (5.9%), AAPL (5.9%), NVDA (5.0%). Fund DNA: Balanced Allocator. HoldingsIntel Score: 3/5.0.

Q3 2024 Summary

Active quarter - 71 new positions, 162 exits, 728 increased. Top move: AVGO (INCREASED, conviction 81). Portfolio: $715.9B across 1839 positions.

Top holdings by portfolio weight

Total AUM$716B
MSFT5.95%
AAPL5.89%
NVDA4.97%
AMZN3.08%
GOOGL2.61%
META2.40%
AVGO1.54%
LLY1.30%
TSLA1.13%
XOM1.06%
Other1.06%

Portfolio allocation by GICS sector

Sectors11
Technology29.02%
Financial Services14.09%
Healthcare11.38%
Consumer Cyclical10.70%
Communication Services8.69%
Industrials7.28%
Real Estate6.23%
Consumer Defensive4.93%
Energy2.70%
Basic Materials2.43%
Other2.55%

Behavioral investing profile

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Balanced Allocator- primarily Technology, Financial Services, Healthcare
Compare DNA across all funds
7-dimension, SEC 13F-derived research score
Solid(3.0 / 5.0)
Holdings P&L58
Conviction41
Concentration49
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Position Outcomes

Best and worst performing positions by estimated return

Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.

Accumulation Streaks

Positions with 2+ consecutive quarters of increases - persistent directional conviction.

Security
5Q
AGNCAGNCAGNC INVT CORP
Q4 2024 → Q2 2026+7.1M shares+$81M
5Q
APGAPGAPI Group Corp
Q4 2024 → Q2 2026+2.2M shares+$119M
5Q
ACADACADACADIA PHARMACEUTICALS INC
Q4 2024 → Q2 2026+290,895 shares+$20.6M
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

Verify source filings on SEC EDGAR

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