NORGES BANKNORGES BANK

Institutional investor · Portfolio as of Q4 2024

Top Holdings1,845 positions

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Activity:

Apple Inc.

187.2M$46.9B6.2%$80.26+209.78%
25 qtrssince 2018-Q4
Increased
64

Microsoft Corp.

105.2M$44.3B5.8%$172.39+141.19%
25 qtrssince 2018-Q4
Increased
66

NVIDIA Corp.

324M$43.5B5.7%$23.79+463.01%
25 qtrssince 2018-Q4
Increased
69

Amazon.com, Inc.

124.3M$27.3B3.6%$100.50+118.31%
25 qtrssince 2018-Q4
Increased
62

Alphabet Inc.

128.8M$24.4B3.2%$103.64+81.59%
25 qtrssince 2018-Q4
Increased
67

Meta Platforms Inc

34.1M$19.9B2.6%$210.90+176.04%
25 qtrssince 2018-Q4
Increased
62

Broadcom Inc

72.9M$16.9B2.2%$84.95+168.98%
25 qtrssince 2018-Q4
Increased
62

Tesla Inc

35.7M$14.4B1.9%$150.95+167.54%
25 qtrssince 2018-Q4
Increased
58

Eli Lilly & Co.

10.9M$8.4B1.1%$232.48+228.03%
25 qtrssince 2018-Q4
Increased
52

JPMorgan Chase & Co.

34.7M$8.3B1.1%$97.98+136.22%
25 qtrssince 2018-Q4
Decreased
0

EXXON MOBIL CORP

64.5M$6.9B0.9%$64.91+56.13%
25 qtrssince 2018-Q4
Decreased
0

BERKSHIRE HATHAWAY INC DEL

9,651$6.6B0.9%$470,588.75+44.10%
25 qtrssince 2018-Q4
Increased
49

UnitedHealth Group Inc.

12.6M$6.4B0.8%$302.46+60.06%
25 qtrssince 2018-Q4
Increased
48

MasterCard Incorporated

11.4M$6B0.8%$241.75+115.51%
25 qtrssince 2018-Q4
Decreased
0

Walmart Inc

63.5M$5.7B0.8%$42.16+110.95%
21 qtrssince 2019-Q4
Increased
45

UBS GROUP AG

183.1M$5.6B0.7%$14.80+93.47%
25 qtrssince 2018-Q4
Increased
47

The Procter & Gamble Co.

31.3M$5.2B0.7%$95.25+67.74%
25 qtrssince 2018-Q4
Increased
46

BK OF AMERICA CORP

118.9M$5.2B0.7%$26.75+58.05%
25 qtrssince 2018-Q4
Decreased
0

Costco Wholesale Corporation

5.7M$5.2B0.7%$319.24+184.27%
25 qtrssince 2018-Q4
Increased
46

Visa Inc

16.4M$5.2B0.7%$162.63+91.81%
25 qtrssince 2018-Q4
Decreased
0
$762.1B
AUM
1,845
Positions
Q4 2024
Filing
HI score · 3.0/5
Quarterly 13F Value Change
-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+6%Q4'24$762.1B
Activity profile
$ moved · Q4'24
New5%Increased72%Decreased17%Exited5%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 5.0 years
<1Q2%1-4Q4%1-2Y4%2Y+90%

NORGES BANK manages $762.1B across 1845 positions as of Q4 2024. Top holdings: AAPL (6.2%), MSFT (5.8%), NVDA (5.7%). Fund DNA: Balanced Allocator. HoldingsIntel Score: 3/5.0.

Q4 2024 Summary

Active quarter - 107 new positions, 101 exits, 913 increased. Top move: NVDA (INCREASED, conviction 69). Portfolio: $762.1B across 1845 positions.

Top holdings by portfolio weight

Total AUM$762B
AAPL6.15%
MSFT5.82%
NVDA5.71%
AMZN3.58%
GOOGL3.20%
META2.62%
AVGO2.22%
TSLA1.89%
LLY1.10%
JPM1.09%
Other0.91%

Portfolio allocation by GICS sector

Sectors11
Technology30.72%
Financial Services14.07%
Consumer Cyclical11.54%
Healthcare9.92%
Communication Services9.70%
Industrials6.87%
Real Estate5.48%
Consumer Defensive4.55%
Energy2.61%
Basic Materials2.13%
Other2.41%

Behavioral investing profile

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Balanced Allocator- primarily Technology, Financial Services, Consumer Cyclical
Compare DNA across all funds
7-dimension, SEC 13F-derived research score
Solid(3.0 / 5.0)
Holdings P&L57
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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