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 | |
|---|---|---|---|---|---|---|
|
VSXY
1176
Victoria's Secret
VSXY
$5.79B
| $23.6M | 0.01% |
660,526
+83,612
| +14% | +$3.32M |
|
1177
Cactus
WHD
$4.87B
| $23.6M | 0.01% |
469,902
| – | – |
|
|
BECN
1178
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $23.6M | 0.01% |
446,778
+12,833
| +3% | +$725K |
|
1179
Methanex
MEOH
$4.99B
| $23.5M | 0.01% |
621,068
| – | – |
|
1180
CBIZ
CBZ
$2.97B
| $23.5M | 0.01% |
501,389
| – | – |
|
|
VRNT
1181
DELISTED
Verint Systems
VRNT
| $23.4M | 0.01% |
646,294
+33,782
| +6% | +$1.22M |
|
1182
Scorpio Tankers
STNG
$4.29B
| $23.3M | 0.01% |
434,213
| – | – |
|
1183
Graham Holdings Company
GHC
$4.91B
| $23.3M | 0.01% |
38,636
+4,500
| +13% | +$2.74M |
|
1184
Arcosa
ACA
$7.13B
| $23.2M | 0.01% |
427,818
+102,389
| +31% | +$6.08M |
|
1185
Element Solutions
ESI
$7.75B
| $23.2M | 0.01% |
1,275,677
-1,239,521
| -49% | -$22.3M |
|
1186
Spire
SR
$4.74B
| $23M | 0.01% |
334,472
+30,262
| +10% | +$2.06M |
|
1187
Alight
ALIT
$314M
| $23M | 0.01% |
137,623
+133,488
| +3,228% | +$22.3M |
|
1188
Spectrum Brands
SPB
$1.97B
| $23M | 0.01% |
376,971
| – | – |
|
1189
Autohome
ATHM
$2.46B
| $23M | 0.01% |
750,332
-65,517
| -8% | -$1.95M |
|
1190
Nomad Foods
NOMD
$1.53B
| $22.9M | 0.01% |
1,329,076
+81,052
| +6% | +$1.28M |
|
1191
Walker & Dunlop
WD
$1.38B
| $22.9M | 0.01% |
291,711
+1,332
| +0.5% | +$112K |
|
1192
Papa John's
PZZA
$682M
| $22.9M | 0.01% |
277,697
-52,984
| -16% | -$4.17M |
|
1193
Helen of Troy
HELE
$628M
| $22.8M | 0.01% |
205,861
+9,176
| +5% | +$893K |
|
1194
Dana Inc
DAN
$3.24B
| $22.8M | 0.01% |
1,506,298
+438,247
| +41% | +$6.8M |
|
|
PDCO
1195
DELISTED
Patterson Companies, Inc.
PDCO
| $22.8M | 0.01% |
812,623
-118,189
| -13% | -$3.26M |
|
1196
Atlantic Union Bankshares
AUB
$5.7B
| $22.7M | 0.01% |
647,262
| – | – |
|
1197
Macerich
MAC
$6.35B
| $22.7M | 0.01% |
2,016,198
| – | – |
|
1198
Hamilton Lane
HLNE
$5.13B
| $22.7M | 0.01% |
354,940
+34,041
| +11% | +$2.26M |
|
|
CD
1199
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
| $22.6M | 0.01% |
2,840,130
+497,081
| +21% | +$3.48M |
|
1200
Stepan Co
SCL
$1.4B
| $22.6M | 0.01% |
212,495
-100
| -0% | -$10.5K |
|
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.