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 | |
|---|---|---|---|---|---|---|
1351
NETSCOUT
NTCT
$2.96B
| $16M | ﹤0.01% |
516,003
-42,995
| -8% | -$1.26M |
|
1352
Shake Shack
SHAK
$2.53B
| $15.9M | ﹤0.01% |
205,128
-96,200
| -32% | -$6.18M |
|
|
FTCH
1353
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $15.9M | ﹤0.01% |
2,636,402
-203,791
| -7% | -$982K |
|
1354
New Fortress Energy
NFE
$92.1M
| $15.9M | ﹤0.01% |
592,140
-134,274
| -18% | -$3.89M |
|
1355
Box
BOX
$4.37B
| $15.8M | ﹤0.01% |
538,860
| – | – |
|
1356
Lumen
LUMN
$6.57B
| $15.8M | ﹤0.01% |
6,997,647
+650,000
| +10% | +$1.43M |
|
1357
First Financial Bancorp
FFBC
$3.55B
| $15.8M | ﹤0.01% |
773,379
-30,026
| -4% | -$611K |
|
1358
OSI Systems
OSIS
$3.65B
| $15.7M | ﹤0.01% |
133,398
-4,639
| -3% | -$532K |
|
1359
BlackLine
BL
$1.84B
| $15.7M | ﹤0.01% |
292,030
+42,800
| +17% | +$2.38M |
|
1360
PagerDuty
PD
$816M
| $15.7M | ﹤0.01% |
698,668
-39,624
| -5% | -$1.1M |
|
1361
Shutterstock
SSTK
$198M
| $15.7M | ﹤0.01% |
321,749
+258,570
| +409% | +$14.7M |
|
1362
Driven Brands
DRVN
$2.35B
| $15.6M | ﹤0.01% |
577,838
-22,500
| -4% | -$626K |
|
1363
Upstart Holdings
UPST
$2.63B
| $15.6M | ﹤0.01% |
435,915
-184,564
| -30% | -$4.25M |
|
|
MRTX
1364
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $15.6M | ﹤0.01% |
431,943
-225,295
| -34% | -$9.28M |
|
1365
XP
XP
$8.81B
| $15.6M | ﹤0.01% |
663,762
-140,570
| -17% | -$2.39M |
|
|
JHG
1366
DELISTED
Janus Henderson
JHG
| $15.5M | ﹤0.01% |
569,063
| – | – |
|
1367
Atlanta Braves Holdings Series B
BATRK
$3.26B
| $15.5M | ﹤0.01% |
391,195
-56,609
| -13% | -$2.13M |
|
1368
Granite Construction
GVA
$5.29B
| $15.5M | ﹤0.01% |
389,118
-418,000
| -52% | -$16M |
|
1369
Dillards
DDS
$9.19B
| $15.5M | ﹤0.01% |
47,365
| – | – |
|
1370
Dick's Sporting Goods
DKS
$17.5B
| $15.4M | ﹤0.01% |
116,569
+66,974
| +135% | +$9.16M |
|
1371
Gentherm
THRM
$1.25B
| $15.4M | ﹤0.01% |
272,662
| – | – |
|
|
AAT
1372
American Assets Trust
AAT
$1.45B
| $15.3M | ﹤0.01% |
794,962
-105,902
| -12% | -$1.98M |
|
1373
Haemonetics
HAE
$3.89B
| $15.2M | ﹤0.01% |
178,890
-221,871
| -55% | -$18.8M |
|
1374
Arvinas
ARVN
$518M
| $15.2M | ﹤0.01% |
613,169
-111,400
| -15% | -$2.86M |
|
1375
Eastern Bankshares
EBC
$5.26B
| $15.2M | ﹤0.01% |
1,237,158
-283,216
| -19% | -$3.35M |
|
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.