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 | |
|---|---|---|---|---|---|---|
|
SPR
1101
DELISTED
Spirit AeroSystems
SPR
| $28.9M | 0.01% |
974,741
+318,326
| +48% | +$8.26M |
|
1102
ABM Industries
ABM
$2.95B
| $28.7M | 0.01% |
646,050
-13,279
| -2% | -$583K |
|
1103
Kinsale Capital Group
KNSL
$8.32B
| $28.7M | 0.01% |
109,676
+5,958
| +6% | +$1.72M |
|
|
ODP
1104
DELISTED
ODP
ODP
| $28.6M | 0.01% |
629,059
+18,400
| +3% | +$786K |
|
1105
SPX Corp
SPXC
$9.02B
| $28.6M | 0.01% |
436,092
+21,653
| +5% | +$1.42M |
|
|
NEWR
1106
DELISTED
New Relic, Inc.
NEWR
| $28.6M | 0.01% |
505,795
+40,378
| +9% | +$2.28M |
|
1107
Denali Therapeutics
DNLI
$3.21B
| $28.5M | 0.01% |
1,024,206
+80,802
| +9% | +$2.4M |
|
1108
Ollie's Bargain Outlet
OLLI
$4.41B
| $28.5M | 0.01% |
608,077
+48,103
| +9% | +$2.59M |
|
1109
Delek US
DK
$4.78B
| $28.5M | 0.01% |
1,054,470
-34,600
| -3% | -$1.02M |
|
1110
Tandem Diabetes Care
TNDM
$1.17B
| $28.5M | 0.01% |
632,948
+24,654
| +4% | +$1.12M |
|
1111
Broadstone Net Lease
BNL
$3.86B
| $28.4M | 0.01% |
1,749,444
+318,069
| +22% | +$5.32M |
|
1112
ACI Worldwide
ACIW
$5.18B
| $28.1M | 0.01% |
1,220,994
+79,233
| +7% | +$1.71M |
|
1113
Ambarella
AMBA
$2.85B
| $28M | 0.01% |
341,078
+3,809
| +1% | +$254K |
|
1114
Wayfair
W
$14.3B
| $28M | 0.01% |
852,672
+54,239
| +7% | +$1.89M |
|
1115
Maravai LifeSciences
MRVI
$1.05B
| $28M | 0.01% |
1,957,399
+579,860
| +42% | +$9.13M |
|
1116
Bank of Hawaii
BOH
$2.97B
| $27.9M | 0.01% |
359,871
+124,572
| +53% | +$9.66M |
|
1117
United Airlines
UAL
$34.7B
| $27.9M | 0.01% |
739,984
-281,073
| -28% | -$11.4M |
|
|
BPMC
1118
DELISTED
Blueprint Medicines
BPMC
| $27.8M | 0.01% |
634,045
-156,910
| -20% | -$7.52M |
|
|
DOC
1119
DELISTED
PHYSICIANS REALTY TRUST
DOC
| $27.7M | 0.01% |
1,916,633
-65,099
| -3% | -$946K |
|
1120
Howard Hughes
HHH
$3.8B
| $27.7M | 0.01% |
380,203
+10,677
| +3% | +$680K |
|
|
CALY
1121
Callaway Golf Company
CALY
$2.73B
| $27.6M | 0.01% |
1,399,654
+68,372
| +5% | +$1.35M |
|
1122
WIX.com
WIX
$3.42B
| $27.6M | 0.01% |
359,115
+48,850
| +16% | +$3.95M |
|
1123
Unifirst Corp
UNF
$4.83B
| $27.6M | 0.01% |
142,763
+5,859
| +4% | +$1.07M |
|
1124
AutoNation
AN
$6.72B
| $27M | 0.01% |
251,537
-103,197
| -29% | -$11.4M |
|
1125
Coty
COTY
$2.34B
| $26.9M | 0.01% |
3,138,142
-180,007
| -5% | -$1.32M |
|
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.