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 | |
|---|---|---|---|---|---|---|
|
PPLI
901
People Inc
PPLI
$2.85B
| $40M | 0.01% |
1,099,178
+8,819
| +0.8% | +$349K |
|
902
Integra LifeSciences
IART
$1.22B
| $39.9M | 0.01% |
711,118
+59,576
| +9% | +$3.03M |
|
903
Cogent Communications
CCOI
$473M
| $39.8M | 0.01% |
696,783
+283,625
| +69% | +$15.6M |
|
904
GrafTech
EAF
$186M
| $39.5M | 0.01% |
829,096
| – | – |
|
905
New Fortress Energy
NFE
$3.65B
| $39.4M | 0.01% |
18,582
+8,615
| +86% | +$20.8M |
|
906
Palantir
PLTR
$415B
| $39.4M | 0.01% |
6,136,313
+1,072,148
| +21% | +$8.13M |
|
907
New Jersey Resources
NJR
$5.41B
| $39.2M | 0.01% |
790,518
+26,180
| +3% | +$1.2M |
|
908
Mueller Industries
MLI
$13.4B
| $39.2M | 0.01% |
2,657,400
+31,748
| +1% | +$507K |
|
909
Southwest Gas
SWX
$6.29B
| $39.2M | 0.01% |
633,098
+29,061
| +5% | +$1.98M |
|
910
Weibo
WB
$1.62B
| $39.2M | 0.01% |
2,047,828
+1,454,545
| +245% | +$21.9M |
|
911
Independent Bank
INDB
$3.96B
| $39.1M | 0.01% |
463,627
+17,048
| +4% | +$1.45M |
|
912
Dolby
DLB
$5.65B
| $39M | 0.01% |
552,557
-91,047
| -14% | -$6.28M |
|
913
Flowers Foods
FLO
$1.3B
| $38.9M | 0.01% |
1,352,833
+99,530
| +8% | +$2.8M |
|
|
WBA
914
DELISTED
Walgreens Boots Alliance
WBA
| $38.8M | 0.01% |
1,038,587
+415,701
| +67% | +$15.6M |
|
915
White Mountains Insurance
WTM
$4.88B
| $38.7M | 0.01% |
27,397
+1,004
| +4% | +$1.36M |
|
916
XPO
XPO
$20.9B
| $38.7M | 0.01% |
1,163,853
-684,394
| -37% | -$23.1M |
|
917
Evercore
EVR
$10.4B
| $38.7M | 0.01% |
354,875
-35,547
| -9% | -$3.71M |
|
918
Cousins Properties
CUZ
$4.6B
| $38.7M | 0.01% |
1,529,489
+123,117
| +9% | +$3M |
|
919
Cytokinetics
CYTK
$9.64B
| $38.5M | 0.01% |
839,356
+15,860
| +2% | +$682K |
|
920
BlackBerry
BB
$4.57B
| $38.4M | 0.01% |
11,790,962
+116,099
| +1% | +$515K |
|
921
MSC Industrial Direct
MSM
$6.69B
| $38.3M | 0.01% |
468,460
-20,144
| -4% | -$1.64M |
|
|
SYNH
922
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $38.3M | 0.01% |
1,042,887
+240,123
| +30% | +$9.49M |
|
923
Hormel Foods
HRL
$11.4B
| $38.2M | 0.01% |
838,951
+439,753
| +110% | +$20.5M |
|
924
Independence Realty Trust
IRT
$3.58B
| $38.2M | 0.01% |
2,266,131
+162,307
| +8% | +$2.75M |
|
925
Tencent Music
TME
$12.9B
| $38.2M | 0.01% |
4,612,857
+556,000
| +14% | +$3.12M |
|
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.