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
|
+$764M |
| 2 |
UBS Group
UBS
|
+$753M |
| 3 |
Apple
AAPL
|
+$665M |
| 4 |
JPMorgan Chase
JPM
|
+$621M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$498M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$811M |
| 2 |
Oracle
ORCL
|
+$505M |
| 3 |
T-Mobile US
TMUS
|
+$390M |
| 4 |
Deutsche Bank
DB
|
+$275M |
| 5 |
GE Aerospace
GE
|
+$240M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.11% |
| 2 | Financials | 13.76% |
| 3 | Healthcare | 13.71% |
| 4 | Consumer Discretionary | 10.81% |
| 5 | Communication Services | 7.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1276
NewMarket
NEU
$8.21B
| $20.4M | ﹤0.01% |
55,977
+1,486
| +3% | +$515K |
|
1277
Helen of Troy
HELE
$671M
| $20.4M | ﹤0.01% |
214,416
+8,555
| +4% | +$916K |
|
1278
Insmed
INSM
$28.7B
| $20.3M | ﹤0.01% |
1,192,449
-151,384
| -11% | -$2.94M |
|
|
ETRN
1279
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $20.3M | ﹤0.01% |
3,505,197
+913,221
| +35% | +$5.85M |
|
|
MZTI
1280
The Marzetti Company
MZTI
$3.02B
| $20.2M | ﹤0.01% |
99,774
-733
| -0.7% | -$143K |
|
1281
Hecla Mining
HL
$10.7B
| $20.2M | ﹤0.01% |
3,186,100
+163,000
| +5% | +$935K |
|
1282
DigitalBridge
DBRG
$2.95B
| $20.2M | ﹤0.01% |
1,681,635
+142,780
| +9% | +$1.79M |
|
|
AY
1283
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $20.2M | ﹤0.01% |
681,728
+96,813
| +17% | +$2.63M |
|
1284
Graham Holdings Company
GHC
$5.06B
| $20.1M | ﹤0.01% |
33,767
-4,869
| -13% | -$3.03M |
|
1285
Lantheus
LNTH
$6.6B
| $20.1M | ﹤0.01% |
243,683
-646,791
| -73% | -$41.7M |
|
|
HEES
1286
DELISTED
H&E Equipment Services
HEES
| $20.1M | ﹤0.01% |
454,560
+79,701
| +21% | +$3.89M |
|
|
PDCO
1287
DELISTED
Patterson Companies, Inc.
PDCO
| $20.1M | ﹤0.01% |
750,660
-61,963
| -8% | -$1.74M |
|
1288
Yext
YEXT
$558M
| $20.1M | ﹤0.01% |
2,086,831
+80,400
| +4% | +$619K |
|
1289
NeoGenomics
NEO
$2B
| $20M | ﹤0.01% |
1,146,221
-270,493
| -19% | -$3.85M |
|
1290
RXO
RXO
$3.34B
| $19.9M | ﹤0.01% |
1,014,552
+39,266
| +4% | +$754K |
|
|
LAC
1291
DELISTED
Lithium Americas Corp. Common Shares
LAC
| $19.9M | ﹤0.01% |
914,431
-13,266
| -1% | -$293K |
|
1292
Macerich
MAC
$6.66B
| $19.9M | ﹤0.01% |
1,875,882
-140,316
| -7% | -$1.67M |
|
1293
CBIZ
CBZ
$2.96B
| $19.8M | ﹤0.01% |
400,589
-100,800
| -20% | -$4.86M |
|
1294
Arvinas
ARVN
$560M
| $19.8M | ﹤0.01% |
724,569
+22,814
| +3% | +$721K |
|
1295
CarGurus
CARG
$3.28B
| $19.6M | ﹤0.01% |
1,050,875
-71,262
| -6% | -$1.21M |
|
1296
Materion
MTRN
$5.79B
| $19.6M | ﹤0.01% |
168,636
-263
| -0.2% | -$26.4K |
|
|
B
1297
DELISTED
Barnes Group Inc.
B
| $19.5M | ﹤0.01% |
483,992
+8,788
| +2% | +$370K |
|
|
BLDP
1298
Ballard Power Systems
BLDP
$769M
| $19.5M | ﹤0.01% |
3,498,313
-256,152
| -7% | -$1.48M |
|
1299
Rush Enterprises Class A
RUSHA
$6.2B
| $19.4M | ﹤0.01% |
531,968
-86,493
| -14% | -$3.13M |
|
|
SYNH
1300
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $19.4M | ﹤0.01% |
543,327
-499,560
| -48% | -$18.1M |
|
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Norges Bank's Q1 2023 Portfolio in Review
As of Q1 2023, Norges Bank held 2,211 positions worth $457B, up 10% from $415B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Norges Bank's Q1 2023 filing shows 81 new, 1,022 increased, 782 reduced and 124 closed positions. Its largest new stake was GE HealthCare: 2,602,917 shares worth $214M. The largest sale was Bank of America, an estimated $811M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2023 buy was GE HealthCare: 2,602,917 shares worth $214M.
- Norges Bank added most to Microsoft in Q1 2023, an estimated $764M increase.
- Norges Bank's biggest Q1 2023 reduction was Bank of America, cutting an estimated $811M.
- Norges Bank fully exited SVB Financial Group in Q1 2023, selling an estimated $141M.
- Norges Bank's ten largest holdings make up 24% of its $457B portfolio in Q1 2023.
- Norges Bank opened 81 new positions and closed 124 in Q1 2023.
- Norges Bank's portfolio value rose 10% quarter-over-quarter to $457B.
Based on Norges Bank's 13F filing for Q1 2023, filed 15 May 2023.