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 | |
|---|---|---|---|---|---|---|
1151
WD-40
WDFC
$3.05B
| $25.5M | 0.01% |
135,322
+2,861
| +2% | +$540K |
|
1152
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$4.84B
| $25.5M | 0.01% |
1,021,016
+167,083
| +20% | +$4.38M |
|
1153
International Bancshares
IBOC
$4.76B
| $25.4M | 0.01% |
575,503
+17,608
| +3% | +$766K |
|
1154
OR Royalties Inc
OR
$5.58B
| $25.4M | 0.01% |
1,654,811
-84,598
| -5% | -$1.37M |
|
1155
eBay
EBAY
$50.6B
| $25.4M | 0.01% |
567,995
-645,537
| -53% | -$28.7M |
|
1156
Nomad Foods
NOMD
$1.66B
| $25.3M | 0.01% |
1,446,230
+74,935
| +5% | +$1.36M |
|
1157
CNO Financial Group
CNO
$5.14B
| $25.3M | 0.01% |
1,068,690
-371,777
| -26% | -$8.28M |
|
1158
Insmed
INSM
$21.4B
| $25.2M | 0.01% |
1,192,449
| – | – |
|
1159
Spectrum Brands
SPB
$2.04B
| $25.2M | 0.01% |
322,291
-23,220
| -7% | -$1.66M |
|
1160
Bausch Health
BHC
$2.58B
| $25.1M | 0.01% |
3,138,707
+64,202
| +2% | +$473K |
|
1161
Cousins Properties
CUZ
$5.19B
| $25.1M | 0.01% |
1,100,191
-424,680
| -28% | -$8.88M |
|
1162
ScottsMiracle-Gro
SMG
$3.82B
| $25.1M | ﹤0.01% |
400,096
+27,052
| +7% | +$1.81M |
|
1163
Dell
DELL
$262B
| $25M | ﹤0.01% |
462,443
-2,257,070
| -83% | -$104M |
|
1164
MaxLinear
MXL
$6.06B
| $24.9M | ﹤0.01% |
787,444
-11,980
| -1% | -$346K |
|
1165
Autohome
ATHM
$2.67B
| $24.8M | ﹤0.01% |
852,164
| – | – |
|
1166
Armstrong World Industries
AWI
$7.38B
| $24.8M | ﹤0.01% |
338,162
+8,747
| +3% | +$596K |
|
1167
DigitalBridge
DBRG
$2.93B
| $24.8M | ﹤0.01% |
1,683,744
+2,109
| +0.1% | +$25.9K |
|
1168
SouthState Bank Corp
SSB
$10.2B
| $24.6M | ﹤0.01% |
374,223
-429,011
| -53% | -$28.6M |
|
1169
Cytokinetics
CYTK
$10.5B
| $24.5M | ﹤0.01% |
751,450
+13,291
| +2% | +$492K |
|
1170
MGIC Investment
MTG
$6.16B
| $24.5M | ﹤0.01% |
1,551,886
+129,323
| +9% | +$1.92M |
|
1171
Walker & Dunlop
WD
$1.71B
| $24.4M | ﹤0.01% |
308,839
+11,363
| +4% | +$821K |
|
1172
Carter's
CRI
$1.42B
| $24.4M | ﹤0.01% |
335,744
+14,996
| +5% | +$1.01M |
|
|
UCB
1173
United Community Banks
UCB
$4.24B
| $24.3M | ﹤0.01% |
972,199
-119,761
| -11% | -$2.97M |
|
1174
Super Micro Computer
SMCI
$18.4B
| $24.2M | ﹤0.01% |
+971,640
| New | +$16.3M |
|
1175
Oceaneering
OII
$4.86B
| $24.2M | ﹤0.01% |
1,293,125
-162,100
| -11% | -$2.79M |
|
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.