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 |
Alphabet (Google) Class C
GOOG
|
+$1.1B |
| 2 |
Apple
AAPL
|
+$1.1B |
| 3 |
Microsoft
MSFT
|
+$819M |
| 4 |
Cigna
CI
|
+$613M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$472M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T-Mobile US
TMUS
|
+$548M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$506M |
| 3 |
TWTR
Twitter, Inc.
TWTR
|
+$388M |
| 4 |
DRE
Duke Realty Corp.
DRE
|
+$358M |
| 5 |
IBM
IBM
|
+$211M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.98% |
| 2 | Healthcare | 15.12% |
| 3 | Financials | 15.08% |
| 4 | Consumer Discretionary | 10.12% |
| 5 | Industrials | 8.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
Olin
OLN
$1.95B
| $67.5M | 0.02% |
1,274,922
-42,351
| -3% | -$2.25M |
|
677
Brixmor Property Group
BRX
$8.7B
| $67.1M | 0.02% |
2,960,963
+94,658
| +3% | +$2.03M |
|
|
BERY
678
DELISTED
Berry Global Group, Inc.
BERY
| $67.1M | 0.02% |
1,208,404
-130,915
| -10% | -$6.42M |
|
679
CDW
CDW
$19.2B
| $67M | 0.02% |
375,138
-77,916
| -17% | -$13.7M |
|
680
Ciena
CIEN
$47.4B
| $66.9M | 0.02% |
1,313,105
-18,405
| -1% | -$832K |
|
681
Outfront Media
OUT
$4.95B
| $66.6M | 0.02% |
4,079,696
+1,480,462
| +57% | +$25M |
|
682
EXL Service
EXLS
$5.5B
| $66.6M | 0.02% |
1,964,150
+255,910
| +15% | +$8.89M |
|
683
Etsy
ETSY
$6.79B
| $66.6M | 0.02% |
555,655
+53,980
| +11% | +$6.18M |
|
684
Coca-Cola Europacific Partners
CCEP
$45.4B
| $66.4M | 0.02% |
1,201,249
-165,397
| -12% | -$8.3M |
|
685
Universal Health Services
UHS
$10.4B
| $66.3M | 0.02% |
470,823
-23,906
| -5% | -$2.82M |
|
|
GTM
686
ZoomInfo Technologies
GTM
$1.22B
| $66.3M | 0.02% |
2,201,741
+923,659
| +72% | +$31.9M |
|
687
Clean Harbors
CLH
$16.8B
| $66M | 0.02% |
578,460
+53,568
| +10% | +$6.26M |
|
|
FOLD
688
DELISTED
Amicus Therapeutics
FOLD
| $65.9M | 0.02% |
5,400,086
+1,043,346
| +24% | +$11.7M |
|
689
Inspire Medical Systems
INSP
$2.16B
| $65.9M | 0.02% |
261,746
+14,396
| +6% | +$3.07M |
|
|
CTLT
690
DELISTED
CATALENT, INC.
CTLT
| $65.8M | 0.02% |
1,461,311
-308,531
| -17% | -$16.8M |
|
691
DuPont de Nemours
DD
$17.3B
| $65.7M | 0.02% |
762,788
-227,147
| -23% | -$18.1M |
|
692
nVent Electric
NVT
$23.8B
| $65.7M | 0.02% |
1,706,929
+132,623
| +8% | +$4.9M |
|
693
Arrow Electronics
ARW
$10.8B
| $65.6M | 0.02% |
627,347
+18,537
| +3% | +$1.91M |
|
694
HSBC
HSBC
$350B
| $65.6M | 0.02% |
2,105,000
-251,000
| -11% | -$7.12M |
|
695
Tenet Healthcare
THC
$21B
| $65.6M | 0.02% |
1,344,128
+24,435
| +2% | +$1.13M |
|
696
Lithia Motors
LAD
$7.6B
| $65.2M | 0.02% |
318,380
-2,911
| -0.9% | -$622K |
|
697
Clarivate
CLVT
$1.22B
| $64.9M | 0.02% |
7,782,962
+3,438,779
| +79% | +$32.3M |
|
698
EastGroup Properties
EGP
$10.7B
| $64.7M | 0.02% |
437,050
+8,579
| +2% | +$1.29M |
|
699
ITT
ITT
$17.7B
| $64.6M | 0.02% |
796,518
+69,786
| +10% | +$5.41M |
|
700
Valmont Industries
VMI
$9.14B
| $64.4M | 0.02% |
194,802
+8,015
| +4% | +$2.54M |
|
Similar funds
Norges Bank's Q4 2022 Portfolio in Review
As of Q4 2022, Norges Bank held 2,222 positions worth $415B, up 10% from $376B the previous quarter. Its ten largest holdings account for 21% of the portfolio.
Norges Bank deployed $17.2B of net new capital in Q4 2022, opening 133 new positions and adding to 1,177 existing holdings. Its largest new stake was Mobileye: 12,085,900 shares worth $424M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 24% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was T-Mobile US, an estimated $548M trimmed.
- Norges Bank's largest Q4 2022 buy was Mobileye: 12,085,900 shares worth $424M.
- Norges Bank added most to Alphabet (Google) Class C in Q4 2022, an estimated $1.1B increase.
- Norges Bank's biggest Q4 2022 reduction was T-Mobile US, cutting an estimated $548M.
- Norges Bank fully exited Twitter, Inc. in Q4 2022, selling an estimated $388M.
- Norges Bank's ten largest holdings make up 21% of its $415B portfolio in Q4 2022.
- Norges Bank opened 133 new positions and closed 92 in Q4 2022.
- Norges Bank's portfolio value rose 10% quarter-over-quarter to $415B.
Based on Norges Bank's 13F filing for Q4 2022, filed 14 Feb 2023.