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 | |
|---|---|---|---|---|---|---|
|
SQSP
1301
DELISTED
Squarespace, Inc.
SQSP
| $19.2M | ﹤0.01% |
+605,100
| New | +$15M |
|
|
MDC
1302
DELISTED
M.D.C. Holdings, Inc.
MDC
| $19.2M | ﹤0.01% |
494,296
+73,700
| +18% | +$2.73M |
|
1303
Eastern Bankshares
EBC
$5.27B
| $19.2M | ﹤0.01% |
1,520,374
+256,173
| +20% | +$3.95M |
|
1304
SiTime
SITM
$20.6B
| $19.1M | ﹤0.01% |
134,590
-12,240
| -8% | -$1.5M |
|
1305
MGIC Investment
MTG
$6.21B
| $19.1M | ﹤0.01% |
1,422,563
+72,221
| +5% | +$973K |
|
|
ODP
1306
DELISTED
ODP
ODP
| $19.1M | ﹤0.01% |
424,147
-204,912
| -33% | -$10M |
|
1307
Mueller Water Products
MWA
$4.24B
| $19M | ﹤0.01% |
1,364,618
-224,345
| -14% | -$2.92M |
|
1308
RLX Technology
RLX
$2.43B
| $19M | ﹤0.01% |
6,544,627
+732,600
| +13% | +$1.78M |
|
1309
Griffon
GFF
$4.88B
| $19M | ﹤0.01% |
592,092
+186,353
| +46% | +$6.82M |
|
1310
QuantumScape Corp
QS
$3.4B
| $18.9M | ﹤0.01% |
2,308,443
-75,245
| -3% | -$611K |
|
1311
Axos Financial
AX
$5.78B
| $18.7M | ﹤0.01% |
506,199
-42,083
| -8% | -$1.82M |
|
1312
Enpro
NPO
$7.12B
| $18.7M | ﹤0.01% |
179,537
-26,017
| -13% | -$2.85M |
|
|
XHR
1313
Xenia Hotels & Resorts
XHR
$1.82B
| $18.6M | ﹤0.01% |
1,422,974
+26,295
| +2% | +$363K |
|
|
MNTV
1314
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $18.6M | ﹤0.01% |
1,992,353
-698,138
| -26% | -$5.48M |
|
1315
Acushnet Holdings
GOLF
$5.5B
| $18.6M | ﹤0.01% |
364,367
-18,612
| -5% | -$903K |
|
|
MAXR
1316
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
| $18.5M | ﹤0.01% |
363,242
-238,700
| -40% | -$12.2M |
|
1317
InterDigital
IDCC
$8.47B
| $18.5M | ﹤0.01% |
253,497
-38,314
| -13% | -$2.67M |
|
|
DISH
1318
DELISTED
DISH Network Corp.
DISH
| $18.4M | ﹤0.01% |
1,973,742
+1,698,818
| +618% | +$21.4M |
|
1319
ZIM Integrated Shipping Services
ZIM
$3.18B
| $18.4M | ﹤0.01% |
780,546
+36,671
| +5% | +$770K |
|
|
PYCR
1320
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
| $18.4M | ﹤0.01% |
693,923
| – | – |
|
1321
Driven Brands
DRVN
$2.14B
| $18.2M | ﹤0.01% |
600,338
+32,663
| +6% | +$924K |
|
1322
Sunstone Hotel Investors
SHO
$2.1B
| $18.1M | ﹤0.01% |
1,832,498
-231,772
| -11% | -$2.35M |
|
1323
United Parks & Resorts
PRKS
$2.09B
| $18.1M | ﹤0.01% |
294,946
+28,955
| +11% | +$1.77M |
|
1324
Integer Holdings
ITGR
$4.29B
| $18.1M | ﹤0.01% |
233,317
-51,391
| -18% | -$3.77M |
|
1325
Leslie's
LESL
$14.2M
| $18M | ﹤0.01% |
81,883
-2,993
| -4% | -$777K |
|
Similar funds
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.