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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+9.95%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$507B
AUM Growth
+$49.8B
Cap. Flow
+$12.1B
Cap. Flow %
2.38%
Top 10 Hldgs %
27.24%
Holding
2,145
New
58
Increased
905
Reduced
790
Closed
138

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$1.04B
2
AMZN icon
Amazon
AMZN
+$902M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$877M
4
AAPL icon
Apple
AAPL
+$767M
5
NVDA icon
NVIDIA
NVDA
+$684M

Top Sells

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$444M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$415M
3
QCOM icon
Qualcomm
QCOM
+$385M
4
SNPS icon
Synopsys
SNPS
+$314M
5
ACN icon
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
HRL icon
1001
Hormel Foods
HRL
$13.8B
$37.1M 0.01%
922,084
-225,538
-20% -$9.04M
WEN icon
1002
Wendy's
WEN
$1.4B
$37M 0.01%
1,701,322
-352,719
-17% -$7.86M
EVH icon
1003
Evolent Health
EVH
$348M
$37M 0.01%
1,219,920
+371,587
+44% +$12M
FLG
1004
Flagstar Bank National Association
FLG
$5.93B
$37M 0.01%
1,096,049
+599,882
+121% +$18.2M
OGE icon
1005
OGE Energy
OGE
$9.78B
$36.7M 0.01%
1,020,722
+157,631
+18% +$5.8M
TWNK
1006
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
$36.6M 0.01%
1,444,975
-219,576
-13% -$5.63M
TNET icon
1007
TriNet
TNET
$3.02B
$36.5M 0.01%
384,317
+1,796
+0.5% +$163K
DOCS icon
1008
Doximity
DOCS
$3.76B
$36.5M 0.01%
1,072,143
+306,655
+40% +$10.2M
HRI icon
1009
Herc Holdings
HRI
$5.02B
$36.5M 0.01%
266,513
-72,488
-21% -$8.02M
OUT icon
1010
Outfront Media
OUT
$5.61B
$36.4M 0.01%
2,349,964
-736,989
-24% -$11.1M
ESGR
1011
DELISTED
Enstar Group
ESGR
$36.3M 0.01%
148,455
+33,785
+29% +$8.35M
BPMC
1012
DELISTED
Blueprint Medicines
BPMC
$36.2M 0.01%
573,186
+12,394
+2% +$674K
MEDP icon
1013
Medpace
MEDP
$16.1B
$36.1M 0.01%
150,320
-74,013
-33% -$15.4M
AGO icon
1014
Assured Guaranty
AGO
$3.66B
$36M 0.01%
645,046
+49,703
+8% +$2.64M
NEWR
1015
DELISTED
New Relic, Inc.
NEWR
$36M 0.01%
549,381
+34,431
+7% +$2.48M
ADNT icon
1016
Adient
ADNT
$1.65B
$35.8M 0.01%
935,210
+44,085
+5% +$1.63M
BRSL
1017
Brightstar Lottery PLC
BRSL
$1.84B
$35.8M 0.01%
1,122,253
+123,220
+12% +$3.42M
SMPL icon
1018
Simply Good Foods
SMPL
$901M
$35.7M 0.01%
975,205
+39,644
+4% +$1.46M
CIGI icon
1019
Colliers International
CIGI
$5.04B
$35.6M 0.01%
363,293
+10,249
+3% +$997K
BLKB icon
1020
Blackbaud
BLKB
$1.94B
$35.6M 0.01%
500,132
+132,310
+36% +$9.29M
SYNA icon
1021
Synaptics
SYNA
$4.19B
$35.4M 0.01%
414,097
-4,287
-1% -$372K
PLNT icon
1022
Planet Fitness
PLNT
$4.42B
$35.1M 0.01%
520,471
-382,799
-42% -$27.4M
HI
1023
DELISTED
Hillenbrand
HI
$35.1M 0.01%
683,720
-42,733
-6% -$2.06M
MHK icon
1024
Mohawk Industries
MHK
$7.5B
$35M 0.01%
339,072
-81,071
-19% -$7.95M
APLE icon
1025
Apple Hospitality REIT
APLE
$3.9B
$34.9M 0.01%
2,309,771
+56,752
+3% +$860K
39 40
41
42 43

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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.