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 |
Microsoft
MSFT
|
+$1.04B |
| 2 |
Amazon
AMZN
|
+$902M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 4 |
Apple
AAPL
|
+$767M |
| 5 |
NVIDIA
NVDA
|
+$684M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shell
SHEL
|
+$444M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$415M |
| 3 |
Qualcomm
QCOM
|
+$385M |
| 4 |
Synopsys
SNPS
|
+$314M |
| 5 |
Accenture
ACN
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.89% |
| 2 | Financials | 13.39% |
| 3 | Healthcare | 13.16% |
| 4 | Consumer Discretionary | 11.33% |
| 5 | Communication Services | 8.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ETRN
926
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $43.6M | 0.01% |
4,565,722
+1,060,525
| +30% | +$7.12M |
|
927
Capri Holdings
CPRI
$1.83B
| $43.6M | 0.01% |
1,213,656
-55,401
| -4% | -$2.2M |
|
928
Insperity
NSP
$1.93B
| $43.5M | 0.01% |
365,310
-9,747
| -3% | -$1.16M |
|
929
MDU Resources
MDU
$4.17B
| $43.3M | 0.01% |
3,733,547
-2,689,802
| -42% | -$30.3M |
|
930
Arcosa
ACA
$7.13B
| $43.3M | 0.01% |
571,295
-115,210
| -17% | -$7.75M |
|
931
PENN Entertainment
PENN
$2.75B
| $43.3M | 0.01% |
1,800,113
-18,100
| -1% | -$482K |
|
932
Terex
TEX
$7.18B
| $43.2M | 0.01% |
721,602
-106,358
| -13% | -$5.28M |
|
933
Advanced Drainage Systems
WMS
$10.6B
| $43.1M | 0.01% |
378,699
-122,402
| -24% | -$11.6M |
|
934
Antero Midstream
AM
$10.4B
| $43M | 0.01% |
3,702,869
+160,909
| +5% | +$1.71M |
|
935
Advanced Energy
AEIS
$11.6B
| $42.8M | 0.01% |
384,071
+11,023
| +3% | +$1.05M |
|
936
Elanco Animal Health
ELAN
$13.2B
| $42.5M | 0.01% |
4,226,164
-2,236
| -0.1% | -$20.8K |
|
937
New Jersey Resources
NJR
$5.84B
| $42.5M | 0.01% |
899,945
+74,542
| +9% | +$3.76M |
|
938
Bank OZK
OZK
$5.6B
| $42.4M | 0.01% |
1,055,094
-90,791
| -8% | -$3.26M |
|
939
IPG Photonics
IPGP
$3.61B
| $42.4M | 0.01% |
311,811
-4,471
| -1% | -$527K |
|
940
AGNC Investment
AGNC
$12.4B
| $42.3M | 0.01% |
4,172,203
-468,852
| -10% | -$4.56M |
|
941
Visteon
VC
$2.79B
| $42.2M | 0.01% |
293,857
+11,311
| +4% | +$1.61M |
|
942
Braze
BRZE
$2.81B
| $42.2M | 0.01% |
963,570
+899,588
| +1,406% | +$30.6M |
|
943
Extreme Networks
EXTR
$3.94B
| $42.2M | 0.01% |
1,618,552
+110,789
| +7% | +$2.19M |
|
|
JBTM
944
JBT Marel
JBTM
$7.21B
| $42.1M | 0.01% |
346,873
-1,747
| -0.5% | -$192K |
|
945
ManpowerGroup
MAN
$2.44B
| $41.8M | 0.01% |
525,866
+17,518
| +3% | +$1.32M |
|
|
SNV
946
DELISTED
Synovus
SNV
| $41.6M | 0.01% |
1,376,285
-132,278
| -9% | -$3.87M |
|
947
Ionis Pharmaceuticals
IONS
$8.6B
| $41.5M | 0.01% |
1,012,618
-120,073
| -11% | -$4.61M |
|
948
H.B. Fuller
FUL
$2.97B
| $41.3M | 0.01% |
577,685
-19,133
| -3% | -$1.26M |
|
|
FOLD
949
DELISTED
Amicus Therapeutics
FOLD
| $41.3M | 0.01% |
3,286,317
-1,883,102
| -36% | -$22.3M |
|
950
HealthEquity
HQY
$8.41B
| $41.2M | 0.01% |
653,173
+55,038
| +9% | +$3.19M |
|
Similar funds
Norges Bank's Q2 2023 Portfolio in Review
As of Q2 2023, Norges Bank held 2,145 positions worth $507B, up 11% from $457B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Norges Bank's Q2 2023 filing shows 58 new, 905 increased, 790 reduced and 138 closed positions. Its largest new stake was Kenvue: 7,326,131 shares worth $194M. The largest sale was Shell, an estimated $444M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 26% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2023 buy was Kenvue: 7,326,131 shares worth $194M.
- Norges Bank added most to Microsoft in Q2 2023, an estimated $1.04B increase.
- Norges Bank's biggest Q2 2023 reduction was Shell, cutting an estimated $444M.
- Norges Bank fully exited Evoqua Water Technologies Corp. Common Stock in Q2 2023, selling an estimated $175M.
- Norges Bank's ten largest holdings make up 27% of its $507B portfolio in Q2 2023.
- Norges Bank opened 58 new positions and closed 138 in Q2 2023.
- Norges Bank's portfolio value rose 11% quarter-over-quarter to $507B.
Based on Norges Bank's 13F filing for Q2 2023, filed 14 Aug 2023.