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 | |
|---|---|---|---|---|---|---|
751
Bentley Systems
BSY
$9.63B
| $58M | 0.01% |
1,569,436
+77,845
| +5% | +$2.82M |
|
752
Marriott Vacations Worldwide
VAC
$3.48B
| $57.5M | 0.01% |
427,522
+53,023
| +14% | +$7.39M |
|
753
FirstService
FSV
$5.74B
| $56.9M | 0.01% |
464,961
+24,226
| +5% | +$3M |
|
|
WCC
754
WESCO International
WCC
$16.3B
| $56.8M | 0.01% |
453,298
+30,779
| +7% | +$3.88M |
|
755
Hexcel
HXL
$6.91B
| $56.7M | 0.01% |
964,115
+257,372
| +36% | +$14.7M |
|
756
Acuity Brands
AYI
$8.98B
| $56.7M | 0.01% |
342,574
-49,563
| -13% | -$8.8M |
|
|
SRC
757
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $56.6M | 0.01% |
1,417,639
+157,613
| +13% | +$6.15M |
|
758
Applied Industrial Technologies
AIT
$11.6B
| $56.6M | 0.01% |
448,803
+93,818
| +26% | +$11.5M |
|
759
Grab
GRAB
$11.9B
| $56.5M | 0.01% |
17,557,310
+2,700,911
| +18% | +$7.74M |
|
760
AGNC Investment
AGNC
$11.8B
| $56.2M | 0.01% |
5,431,198
+316,662
| +6% | +$2.89M |
|
761
Concentrix
CNXC
$1.78B
| $56.1M | 0.01% |
421,004
+35,094
| +9% | +$4.26M |
|
762
TPG
TPG
$7.9B
| $56M | 0.01% |
2,011,939
+317,615
| +19% | +$10M |
|
763
Williams-Sonoma
WSM
$26.1B
| $55.5M | 0.01% |
965,874
-267,676
| -22% | -$16.1M |
|
|
CYBR
764
DELISTED
CyberArk
CYBR
| $55.5M | 0.01% |
427,917
+42,453
| +11% | +$6.14M |
|
765
U-Haul Holding Co Series N
UHAL.B
$10.9B
| $55.5M | 0.01% |
+1,008,635
| New | +$58.4M |
|
|
SNV
766
DELISTED
Synovus
SNV
| $55.4M | 0.01% |
1,474,435
+93,478
| +7% | +$3.71M |
|
767
FIVE9
FIVN
$2.47B
| $55.4M | 0.01% |
815,847
+80,262
| +11% | +$5.04M |
|
768
Gildan
GIL
$8.5B
| $55.3M | 0.01% |
2,020,604
+94,628
| +5% | +$2.75M |
|
|
ITCI
769
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $55.1M | 0.01% |
1,041,874
+178,941
| +21% | +$8.97M |
|
770
DT Midstream
DTM
$12.8B
| $54.9M | 0.01% |
993,476
+63,768
| +7% | +$3.64M |
|
771
Wintrust Financial
WTFC
$10.2B
| $54.6M | 0.01% |
645,942
+67,109
| +12% | +$5.93M |
|
|
FYBR
772
DELISTED
Frontier Communications
FYBR
| $54.5M | 0.01% |
2,137,688
-162,185
| -7% | -$3.9M |
|
773
iRhythm Holdings
IRTC
$3.69B
| $54.5M | 0.01% |
581,479
+7,333
| +1% | +$798K |
|
774
Landstar System
LSTR
$5.86B
| $54.3M | 0.01% |
333,587
+12,083
| +4% | +$1.94M |
|
775
Gen Digital
GEN
$18.7B
| $54.2M | 0.01% |
2,531,051
+71,462
| +3% | +$1.58M |
|
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.