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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
ONB icon
1026
Old National Bancorp
ONB
$10.2B
$34.9M 0.01%
2,502,160
-570,621
-19% -$7.58M
LAZ icon
1027
Lazard
LAZ
$4.13B
$34.9M 0.01%
1,089,279
+247,323
+29% +$7.65M
AFRM icon
1028
Affirm
AFRM
$23.9B
$34.6M 0.01%
2,260,228
+83,759
+4% +$1.11M
ASO icon
1029
Academy Sports + Outdoors
ASO
$2.94B
$34.5M 0.01%
639,145
+233,709
+58% +$13.4M
DOO
1030
Bombardier Recreational Products
DOO
$4.54B
$34.5M 0.01%
407,750
+40,482
+11% +$3.07M
SSRM icon
1031
SSR Mining
SSRM
$5.32B
$34.3M 0.01%
2,421,874
+60,362
+3% +$913K
COOP
1032
DELISTED
Mr. Cooper
COOP
$34.3M 0.01%
676,692
+66,000
+11% +$3.02M
RGEN icon
1033
Repligen
RGEN
$7.96B
$34.3M 0.01%
242,199
-119,069
-33% -$19.1M
DOC
1034
DELISTED
PHYSICIANS REALTY TRUST
DOC
$34.2M 0.01%
2,447,127
+173,742
+8% +$2.47M
ACAD icon
1035
Acadia Pharmaceuticals
ACAD
$4.43B
$34.2M 0.01%
1,428,784
-593,129
-29% -$13.2M
BHF icon
1036
Brighthouse Financial
BHF
$3.56B
$34.2M 0.01%
722,079
+12,803
+2% +$551K
LEN.B icon
1037
Lennar Class B
LEN.B
$19.4B
$34.1M 0.01%
317,661
-52,870
-14% -$4.96M
WIRE
1038
DELISTED
Encore Wire Corp
WIRE
$34M 0.01%
183,100
+15,695
+9% +$2.66M
BRBR icon
1039
BellRing Brands
BRBR
$1.44B
$34M 0.01%
929,877
-36,617
-4% -$1.31M
PCTY icon
1040
Paylocity
PCTY
$7.38B
$34M 0.01%
184,264
-214,202
-54% -$39.2M
ICUI icon
1041
ICU Medical
ICUI
$4.21B
$33.9M 0.01%
190,281
+53,651
+39% +$9.84M
ALTR
1042
DELISTED
Altair Engineering Inc
ALTR
$33.6M 0.01%
442,946
+14,268
+3% +$1.02M
CABO icon
1043
Cable One
CABO
$227M
$33.6M 0.01%
51,094
-2,710
-5% -$1.83M
CHPT icon
1044
ChargePoint
CHPT
$141M
$33.5M 0.01%
190,630
+8,217
+5% +$1.44M
YETI icon
1045
Yeti Holdings
YETI
$3.71B
$33.4M 0.01%
860,534
+22,319
+3% +$865K
SEIC icon
1046
SEI Investments
SEIC
$12.4B
$33.4M 0.01%
560,428
+10,543
+2% +$613K
LIVN icon
1047
LivaNova
LIVN
$4.4B
$33.2M 0.01%
645,761
-11,798
-2% -$554K
SFM icon
1048
Sprouts Farmers Market
SFM
$8.13B
$33.2M 0.01%
903,301
+300,478
+50% +$10.5M
TNL icon
1049
Travel + Leisure Co
TNL
$4.66B
$33.2M 0.01%
822,180
-23,998
-3% -$924K
TCOM icon
1050
Trip.com Group
TCOM
$29.6B
$32.7M 0.01%
935,000
-361,164
-28% -$12.6M
40 41
42
43 44

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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.