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 | |
|---|---|---|---|---|---|---|
1251
Brink's
BCO
$4.88B
| $20.3M | ﹤0.01% |
298,669
-12,613
| -4% | -$844K |
|
1252
Installed Building Products
IBP
$6.01B
| $20.3M | ﹤0.01% |
144,494
-55,500
| -28% | -$6.54M |
|
1253
Zscaler
ZS
$24.5B
| $20.2M | ﹤0.01% |
138,198
-239,125
| -63% | -$29.2M |
|
1254
Associated Banc-Corp
ASB
$5.83B
| $20.2M | ﹤0.01% |
1,244,682
-396,289
| -24% | -$6.53M |
|
1255
Stevanato
STVN
$5.42B
| $20.2M | ﹤0.01% |
622,788
-308,928
| -33% | -$8.67M |
|
1256
Signet Jewelers
SIG
$3.61B
| $20.1M | ﹤0.01% |
308,476
+10,726
| +4% | +$743K |
|
1257
Genworth Financial
GNW
$3.76B
| $20.1M | ﹤0.01% |
4,017,843
-358,213
| -8% | -$1.96M |
|
1258
Pacific Biosciences
PACB
$435M
| $20M | ﹤0.01% |
1,506,221
+317,400
| +27% | +$3.86M |
|
1259
Progress Software
PRGS
$1.66B
| $19.9M | ﹤0.01% |
343,360
-21,341
| -6% | -$1.21M |
|
|
ETWO
1260
DELISTED
E2open Parent Holdings
ETWO
| $19.9M | ﹤0.01% |
3,560,824
+828,745
| +30% | +$4.45M |
|
1261
Moelis & Co
MC
$4.97B
| $19.9M | ﹤0.01% |
439,684
-202,437
| -32% | -$8.08M |
|
1262
Acushnet Holdings
GOLF
$5.93B
| $19.9M | ﹤0.01% |
364,367
| – | – |
|
1263
Cactus
WHD
$5.21B
| $19.9M | ﹤0.01% |
469,902
-146,100
| -24% | -$5.69M |
|
1264
AAR Corp
AIR
$5.59B
| $19.9M | ﹤0.01% |
344,276
+58,100
| +20% | +$3.13M |
|
1265
Alaska Air
ALK
$5.29B
| $19.8M | ﹤0.01% |
373,216
-477,198
| -56% | -$21.7M |
|
|
JWN
1266
DELISTED
Nordstrom
JWN
| $19.8M | ﹤0.01% |
965,583
| – | – |
|
1267
Mueller Water Products
MWA
$3.95B
| $19.7M | ﹤0.01% |
1,211,370
-153,248
| -11% | -$2.18M |
|
1268
QuantumScape Corp
QS
$3.21B
| $19.5M | ﹤0.01% |
2,443,032
+134,589
| +6% | +$936K |
|
1269
Simmons First National
SFNC
$3.41B
| $19.4M | ﹤0.01% |
1,127,167
-124,850
| -10% | -$2.1M |
|
1270
Constellium
CSTM
$3.76B
| $19.4M | ﹤0.01% |
1,128,459
-216,980
| -16% | -$3.33M |
|
1271
Helios Technologies
HLIO
$2.57B
| $19.3M | ﹤0.01% |
291,692
-39,149
| -12% | -$2.32M |
|
1272
McGrath RentCorp
MGRC
$2.81B
| $19.3M | ﹤0.01% |
208,409
-30,300
| -13% | -$2.77M |
|
1273
Kontoor Brands
KTB
$4.63B
| $19.2M | ﹤0.01% |
455,875
-14,959
| -3% | -$642K |
|
|
DOOR
1274
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $19.2M | ﹤0.01% |
187,186
-6,404
| -3% | -$600K |
|
1275
Integer Holdings
ITGR
$4.12B
| $19.1M | ﹤0.01% |
215,447
-17,870
| -8% | -$1.46M |
|
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.