SEC 13F Intelligence

Managers / Q4 2023 · view latest →

NORGES BANK

CIK 0001374170 · BANKPLASSEN 2, P.O BOX 1179 SENTRUM, OSLO, 0107 · 47-24073000

Reported Value
$572.3B
Q4 2023
Positions
1,942
Filings on Record
58
2019–present window
Filed
Feb 9, 2024
original filing

Summary

Norges Bank reported $572.3B in U.S.-listed holdings across 1,942 positions for Q4 2023.

Its largest position, MSFT, represents 6.3% of the portfolio.

Compared with Q3 2023, the fund opened 194 new positions and exited 340.

Portfolio Metrics

Turnover
+5.2%
vs prior filed quarter
Top-10 Concentration
+27.1%
share of reported value
Largest Position
+6.3%
Microsoft
New / Exited
194 / 340
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $0Q4 ’18Q1 ’19: $276.4BQ2 ’19: $291.3BQ3 ’19: $307.9BQ4 ’19: $0Q4 ’19Q1 ’20: $309.5BQ2 ’20: $323.6BQ3 ’20: $326.5BQ4 ’20: $0Q4 ’20Q1 ’21: $280.6BQ2 ’21: $347.3BQ3 ’21: $376.4BQ4 ’21: $0Q4 ’21Q1 ’22: $436.8BQ2 ’22: $461.3BQ3 ’22: $452.0BQ4 ’22: $414.9BQ4 ’22Q1 ’23: $0Q2 ’23: $386.8BQ3 ’23: $376.1BQ4 ’23: $572.3BQ4 ’23Q1 ’24: $456.9BQ2 ’24: $1.18TQ3 ’24: $492.8BQ4 ’24: $762.1BQ4 ’24Q1 ’25: $633.6BQ2 ’25: $801.1BQ3 ’25: $0Q4 ’25: $934.8BQ4 ’25Q1 ’26: $0filingsflow.com

Portfolio Composition

By security type
Common Stock: 87.9%REIT: 6.3%Other: 5.2%ADR: 0.6%Tracking Stk: 0.0%Other: 0.0%
  • Common Stock · 87.9% · $503.1B
  • REIT · 6.3% · $35.8B
  • Other · 5.2% · $29.7B
  • ADR · 0.6% · $3.4B
  • Tracking Stk · 0.0% · $252M
  • Other · 0.0% · $68M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LINDE PLCNEW+7.47M7.47M+$3.1B$3.1B
CRH PLCNEW+14.67M14.67M+$1.0B$1.0B
CPCANADIAN PACIFIC KANSAS CITYNEW+12.39M12.39M+$980M$980M
BNBROOKFIELD CORPNEW+15.31M15.31M+$614M$614M
MBLYMOBILEYE GLOBAL INCNEW+10.11M10.11M+$438M$438M
KVUEKENVUE INCNEW+13.10M13.10M+$282M$282M
VLTOVERALTO CORPNEW+3.24M3.24M+$266M$266M
TEAM1EURATLASSIAN CORPORATIONNEW+1.04M1.04M+$248M$248M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM6.28%$35.9B95.52M
2AAPLAPPLE INChistory →COM5.93%$33.9B176.14M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.41%$19.5B139.64M
4AMZNAMAZON COM INChistory →COM3.09%$17.7B116.50M
5NVDANVIDIA CORPORATIONhistory →COM2.55%$14.6B29.49M
6METAMETA PLATFORMS INChistory →CL A1.97%$11.3B31.88M
7TSLATESLA INChistory →COM1.37%$7.8B31.57M
8BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A1.22%$7.0B11.49M
9AVGOBROADCOM INChistory →COM1.09%$6.2B5.58M
10JPMJPMORGAN CHASE & COhistory →COM1.05%$6.0B35.37M
11LLYELI LILLY & COhistory →COM1.05%$6.0B10.28M
12UNHUNITEDHEALTH GROUP INChistory →COM1.01%$5.8B11.02M
13EXMOCEXXON MOBIL CORPhistory →COM0.96%$5.5B55.21M
14UBS GROUP AGSHS0.87%$5.0B161.27M
15MAMASTERCARD INCORPORATEDhistory →CL A0.80%$4.6B10.77M
16HDHOME DEPOT INChistory →COM0.75%$4.3B12.44M
17JNJJOHNSON & JOHNSONhistory →COM0.71%$4.1B25.98M
18PGPROCTER AND GAMBLE COhistory →COM0.69%$4.0B27.00M
19VVISA INChistory →COM CL A0.68%$3.9B14.96M
20BACBANK AMERICA CORPhistory →COM0.65%$3.7B110.91M
21WMTWALMART INChistory →COM0.64%$3.7B23.31M
22COSTCOSTCO WHSL CORP NEWhistory →COM0.63%$3.6B5.50M
23AMDADVANCED MICRO DEVICES INChistory →COM0.60%$3.4B23.24M
24TMUST-MOBILE US INChistory →COM0.58%$3.3B20.82M
25ADBEADOBE INChistory →COM0.57%$3.3B5.49M
26ABBVABBVIE INChistory →COM0.56%$3.2B20.84M
27MRKMERCK & CO INChistory →COM0.54%$3.1B28.51M
28LINDE PLCSHS0.54%$3.1B7.47M
29TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.51%$2.9B5.48M
30CHVCHEVRON CORP NEWhistory →COM0.51%$2.9B19.46M
31KOCOCA COLA COhistory →COM0.49%$2.8B47.65M
32CRMSALESFORCE INChistory →COM0.48%$2.8B10.50M
33PEPPEPSICO INChistory →COM0.47%$2.7B15.82M
34MCDMCDONALDS CORPhistory →COM0.47%$2.7B9.06M
35WFCWELLS FARGO CO NEWhistory →COM0.46%$2.6B53.29M
36SPGSIMON PPTY GROUP INC NEWhistory →COM0.45%$2.6B17.96M
37NEENEXTERA ENERGY INChistory →COM0.45%$2.6B42.16M
38NFLXNETFLIX INChistory →COM0.45%$2.6B5.26M
39CMCSACOMCAST CORP NEWhistory →CL A0.44%$2.5B57.99M
40CSCOCISCO SYS INChistory →COM0.44%$2.5B50.06M
41QCOMQUALCOMM INChistory →COM0.44%$2.5B17.34M
42WELLWELLTOWER INChistory →COM0.43%$2.5B27.20M
43INTCINTEL CORPhistory →COM0.42%$2.4B48.24M
44EQREQUITY RESIDENTIALhistory →SH BEN INT0.37%$2.1B35.05M
45FQIDIGITAL RLTY TR INChistory →COM0.37%$2.1B15.92M
46PFEPFIZER INChistory →COM0.37%$2.1B73.98M
47ABTABBOTT LABShistory →COM0.37%$2.1B19.22M
48INTUINTUIThistory →COM0.37%$2.1B3.36M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$01May 11, 202613F-HRchanges · EDGAR ↗
Q4 2025$934.8B1,577Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$01Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$801.1B1,707Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025REVEALED$633.6B1,886May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$762.1B1,845Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024REVEALED$492.8B1,967Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024REVEALED$1.18T3,937Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024REVEALED$456.9B2,088May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$572.3B1,942Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023REVEALED$376.1B2,090Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023REVEALED$386.8B2,053Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$01May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$414.9B2,130Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022REVEALED$452.0B2,271Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022REVEALED$461.3B2,207Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022REVEALED$436.8B2,128May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$01Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021REVEALED$376.4B2,129Nov 5, 202113F-HRchanges · EDGAR ↗
Q2 2021REVEALED$347.3B2,077Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021REVEALED$280.6B2,047May 7, 202113F-HRchanges · EDGAR ↗
Q4 2020$01Feb 10, 202113F-HRchanges · EDGAR ↗
Q3 2020REVEALED$326.5B2,093Nov 10, 202013F-HRchanges · EDGAR ↗
Q2 2020REVEALED$323.6B2,106Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020REVEALED$309.5B2,127May 8, 202013F-HRchanges · EDGAR ↗
Q4 2019$01Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019REVEALED$307.9B2,143Nov 8, 201913F-HRchanges · EDGAR ↗
Q2 2019REVEALED$291.3B2,135Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019REVEALED$276.4B2,145May 9, 2019RESTATEMENTchanges · EDGAR ↗
Q4 2018$01Feb 8, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.