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 | |
|---|---|---|---|---|---|---|
926
Watts Water Technologies
WTS
$11.7B
| $38.2M | 0.01% |
261,096
+15,956
| +7% | +$2.3M |
|
927
Visteon
VC
$2.61B
| $38.2M | 0.01% |
291,742
+4,510
| +2% | +$601K |
|
|
AQUA
928
DELISTED
Evoqua Water Technologies Corp. Common Stock
AQUA
| $38.1M | 0.01% |
962,634
+74,160
| +8% | +$2.92M |
|
|
NATI
929
DELISTED
National Instruments Corp
NATI
| $38.1M | 0.01% |
1,032,806
-202,248
| -16% | -$7.9M |
|
930
OneMain Financial
OMF
$7.08B
| $38.1M | 0.01% |
1,143,456
+50,882
| +5% | +$1.8M |
|
931
Essential Properties Realty Trust
EPRT
$6.05B
| $38M | 0.01% |
1,617,209
+193,382
| +14% | +$4.21M |
|
932
Brookfield Renewable
BEPC
$5.39B
| $37.8M | 0.01% |
1,370,909
+81,170
| +6% | +$2.51M |
|
933
Antero Midstream
AM
$10.1B
| $37.7M | 0.01% |
3,496,630
+189,084
| +6% | +$2.01M |
|
934
Merit Medical Systems
MMSI
$5.15B
| $37.7M | 0.01% |
533,877
+15,851
| +3% | +$1.06M |
|
935
Maximus
MMS
$3.05B
| $37.7M | 0.01% |
513,745
-8,278
| -2% | -$534K |
|
936
Avnet
AVT
$7.6B
| $37.6M | 0.01% |
904,042
+752,706
| +497% | +$31.3M |
|
937
Louisiana-Pacific
LPX
$4.53B
| $37.6M | 0.01% |
634,723
-80,811
| -11% | -$4.76M |
|
|
DNB
938
DELISTED
Dun & Bradstreet
DNB
| $37.5M | 0.01% |
3,056,950
+824,820
| +37% | +$10.6M |
|
|
JBTM
939
JBT Marel
JBTM
$5.78B
| $37.4M | 0.01% |
409,058
+96,063
| +31% | +$8.79M |
|
940
Apple Hospitality REIT
APLE
$3.65B
| $37.2M | 0.01% |
2,357,912
+478,493
| +25% | +$7.72M |
|
941
UMB Financial
UMBF
$10.4B
| $37.2M | 0.01% |
445,205
+33,954
| +8% | +$2.85M |
|
|
AIMC
942
DELISTED
Altra Industrial Motion Corp
AIMC
| $37.2M | 0.01% |
622,214
+14,016
| +2% | +$736K |
|
943
LyondellBasell Industries
LYB
$21.1B
| $37.1M | 0.01% |
446,777
+22
| +0% | +$1.8K |
|
944
Franklin Electric
FELE
$4.24B
| $37M | 0.01% |
463,907
+27,677
| +6% | +$2.28M |
|
|
EFOR
945
Everforth Inc
EFOR
$1.39B
| $36.9M | 0.01% |
452,369
+52,783
| +13% | +$4.63M |
|
946
Omega Healthcare
OHI
$14.3B
| $36.6M | 0.01% |
1,310,418
-733,833
| -36% | -$22.1M |
|
947
Sunrun
RUN
$2.02B
| $36.6M | 0.01% |
1,523,275
+43,995
| +3% | +$1.17M |
|
948
Assured Guaranty
AGO
$3.14B
| $36.6M | 0.01% |
587,238
+32,818
| +6% | +$1.95M |
|
949
Meritage Homes
MTH
$4.29B
| $36.5M | 0.01% |
791,172
+99,660
| +14% | +$4.03M |
|
950
United Bankshares
UBSI
$6.52B
| $36.4M | 0.01% |
899,971
-79,522
| -8% | -$3.22M |
|
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.