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 | |
|---|---|---|---|---|---|---|
1126
Insmed
INSM
$26.2B
| $26.8M | 0.01% |
1,343,833
+177,634
| +15% | +$3.43M |
|
1127
Sabra Healthcare REIT
SBRA
$5.18B
| $26.8M | 0.01% |
2,156,781
+134,823
| +7% | +$1.72M |
|
|
EQC
1128
DELISTED
Equity Commonwealth
EQC
| $26.7M | 0.01% |
1,070,813
+156,503
| +17% | +$4M |
|
|
PRFT
1129
DELISTED
Perficient Inc
PRFT
| $26.7M | 0.01% |
382,759
+79,543
| +26% | +$5.49M |
|
1130
Relay Therapeutics
RLAY
$4.16B
| $26.7M | 0.01% |
1,788,323
+57,636
| +3% | +$1.1M |
|
|
WWE
1131
DELISTED
World Wrestling Entertainment
WWE
| $26.7M | 0.01% |
389,029
+6,096
| +2% | +$461K |
|
|
PACW
1132
DELISTED
PacWest Bancorp
PACW
| $26.6M | 0.01% |
1,161,080
+67,160
| +6% | +$1.63M |
|
1133
O-I Glass
OI
$974M
| $26.6M | 0.01% |
1,602,749
+355,365
| +28% | +$5.72M |
|
1134
Simmons First National
SFNC
$3.35B
| $26.5M | 0.01% |
1,229,515
+58,925
| +5% | +$1.34M |
|
1135
EnerSys
ENS
$6.15B
| $26.5M | 0.01% |
359,252
-65,367
| -15% | -$4.56M |
|
1136
Columbia Sportswear
COLM
$2.89B
| $26.5M | 0.01% |
302,432
+16,091
| +6% | +$1.3M |
|
1137
Patterson-UTI
PTEN
$4.85B
| $26.2M | 0.01% |
1,558,479
+168,865
| +12% | +$2.79M |
|
|
CUK
1138
DELISTED
Carnival PLC
CUK
| $26.2M | 0.01% |
3,641,305
-2,116,025
| -37% | -$16.3M |
|
1139
Genworth Financial
GNW
$3.78B
| $26.2M | 0.01% |
4,947,053
| – | – |
|
1140
Kyndryl
KD
$2.88B
| $26.2M | 0.01% |
2,352,009
+298,900
| +15% | +$3.01M |
|
|
AMED
1141
DELISTED
Amedisys
AMED
| $26M | 0.01% |
311,398
+25,235
| +9% | +$2.28M |
|
1142
TechnipFMC
FTI
$29.4B
| $25.9M | 0.01% |
2,127,733
-408,584
| -16% | -$4.57M |
|
|
WIRE
1143
DELISTED
Encore Wire Corp
WIRE
| $25.8M | 0.01% |
187,891
+62,300
| +50% | +$8.62M |
|
1144
Federal Signal
FSS
$6.9B
| $25.8M | 0.01% |
556,181
| – | – |
|
|
CFLT
1145
DELISTED
Confluent
CFLT
| $25.7M | 0.01% |
1,156,515
+203,576
| +21% | +$4.72M |
|
|
ESGR
1146
DELISTED
Enstar Group
ESGR
| $25.6M | 0.01% |
110,593
+8,026
| +8% | +$1.63M |
|
1147
Portland General Electric
POR
$5.58B
| $25.5M | 0.01% |
520,560
+151,275
| +41% | +$7.01M |
|
1148
Varonis Systems
VRNS
$5.45B
| $25.4M | 0.01% |
1,062,311
+67,171
| +7% | +$1.53M |
|
|
CWEN.A
1149
DELISTED
Clearway Energy Class A
CWEN.A
| $25.4M | 0.01% |
849,180
+157,100
| +23% | +$4.91M |
|
1150
Innospec
IOSP
$2.26B
| $25.2M | 0.01% |
244,796
+48,400
| +25% | +$4.91M |
|
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.