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 | |
|---|---|---|---|---|---|---|
|
MNTV
1301
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $18.8M | ﹤0.01% |
2,690,491
+1,390,518
| +107% | +$10M |
|
|
DOOR
1302
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $18.8M | ﹤0.01% |
233,329
| – | – |
|
|
OLPX
1303
DELISTED
Olaplex Holdings
OLPX
| $18.8M | ﹤0.01% |
3,609,671
-4,021,137
| -53% | -$23.9M |
|
1304
ADT
ADT
$5.19B
| $18.8M | ﹤0.01% |
2,067,746
+157,520
| +8% | +$1.4M |
|
|
SAGE
1305
DELISTED
Sage Therapeutics
SAGE
| $18.7M | ﹤0.01% |
490,702
| – | – |
|
1306
Piper Sandler
PIPR
$5.16B
| $18.7M | ﹤0.01% |
574,036
| – | – |
|
1307
TripAdvisor
TRIP
$1.06B
| $18.6M | ﹤0.01% |
1,033,047
+217,321
| +27% | +$4.54M |
|
1308
LCI Industries
LCII
$2.13B
| $18.6M | ﹤0.01% |
200,791
-3,635
| -2% | -$357K |
|
1309
Vir Biotechnology
VIR
$1.77B
| $18.4M | ﹤0.01% |
728,560
+112,693
| +18% | +$2.76M |
|
|
XHR
1310
Xenia Hotels & Resorts
XHR
$1.61B
| $18.4M | ﹤0.01% |
1,396,679
+294,900
| +27% | +$4.39M |
|
1311
NMI Holdings
NMIH
$3.27B
| $18.4M | ﹤0.01% |
878,573
| – | – |
|
1312
Helios Technologies
HLIO
$2.19B
| $18.4M | ﹤0.01% |
337,236
-37,200
| -10% | -$2M |
|
1313
FormFactor
FORM
$7.94B
| $18.3M | ﹤0.01% |
823,630
+60,800
| +8% | +$1.42M |
|
1314
Yeti Holdings
YETI
$2.88B
| $18.3M | ﹤0.01% |
443,203
-62,587
| -12% | -$2.35M |
|
|
CSGS
1315
DELISTED
CSG Systems International
CSGS
| $18.3M | ﹤0.01% |
319,881
-33,400
| -9% | -$1.96M |
|
1316
Sylvamo
SLVM
$1.39B
| $18.3M | ﹤0.01% |
376,447
+4,800
| +1% | +$230K |
|
1317
Goodyear
GT
$1.51B
| $18.3M | ﹤0.01% |
1,800,161
+523,013
| +41% | +$5.71M |
|
1318
Excelerate Energy
EE
$1.13B
| $18.2M | ﹤0.01% |
726,786
+12,500
| +2% | +$328K |
|
1319
Helmerich & Payne
HP
$4.34B
| $18.1M | ﹤0.01% |
365,996
+237,283
| +184% | +$11.3M |
|
1320
BellRing Brands
BRBR
$1.06B
| $18.1M | ﹤0.01% |
705,020
-76,877
| -10% | -$1.85M |
|
1321
Towne Bank
TOWN
$3.47B
| $18M | ﹤0.01% |
584,953
| – | – |
|
|
SBNY
1322
DELISTED
Signature Bank
SBNY
| $18M | ﹤0.01% |
156,504
-405,352
| -72% | -$55.7M |
|
1323
World Kinect Corp
WKC
$1.82B
| $18M | ﹤0.01% |
658,703
-139,600
| -17% | -$3.75M |
|
|
BLDP
1324
Ballard Power Systems
BLDP
$639M
| $18M | ﹤0.01% |
3,754,465
-931,098
| -20% | -$5.29M |
|
|
JHG
1325
DELISTED
Janus Henderson
JHG
| $17.9M | ﹤0.01% |
762,033
+137,414
| +22% | +$3.22M |
|
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.