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 | |
|---|---|---|---|---|---|---|
1376
Cannae Holdings
CNNE
$652M
| $16M | ﹤0.01% |
795,336
-30,911
| -4% | -$685K |
|
1377
Delek US
DK
$3.6B
| $16M | ﹤0.01% |
698,655
-355,815
| -34% | -$8.91M |
|
1378
NETSCOUT
NTCT
$2.92B
| $16M | ﹤0.01% |
558,998
-74,401
| -12% | -$2.23M |
|
1379
Cohen & Steers
CNS
$4.34B
| $16M | ﹤0.01% |
250,385
+7,269
| +3% | +$507K |
|
1380
Cushman & Wakefield Ltd
CWK
$3.2B
| $16M | ﹤0.01% |
1,519,058
-148,556
| -9% | -$1.91M |
|
1381
NMI Holdings
NMIH
$3.31B
| $16M | ﹤0.01% |
716,239
-162,334
| -18% | -$3.64M |
|
1382
Verra Mobility
VRRM
$778M
| $16M | ﹤0.01% |
943,999
-276,168
| -23% | -$4.42M |
|
1383
Dana Inc
DAN
$2.94B
| $15.9M | ﹤0.01% |
1,059,098
-447,200
| -30% | -$7.32M |
|
|
CWEN.A
1384
DELISTED
Clearway Energy Class A
CWEN.A
| $15.9M | ﹤0.01% |
530,699
-318,481
| -38% | -$9.7M |
|
|
ETWO
1385
DELISTED
E2open Parent Holdings
ETWO
| $15.9M | ﹤0.01% |
2,732,079
+676,146
| +33% | +$4.09M |
|
1386
Enerpac Tool Group
EPAC
$1.92B
| $15.9M | ﹤0.01% |
623,170
-205,080
| -25% | -$5.41M |
|
1387
Brinker International
EAT
$9.75B
| $15.8M | ﹤0.01% |
417,051
+35,300
| +9% | +$1.34M |
|
1388
Virtu Financial
VIRT
$4.91B
| $15.8M | ﹤0.01% |
837,611
-94,839
| -10% | -$1.82M |
|
1389
Q2 Holdings
QTWO
$3.95B
| $15.8M | ﹤0.01% |
642,070
+39,150
| +6% | +$1.16M |
|
|
AIV
1390
Aimco
AIV
$381M
| $15.7M | ﹤0.01% |
2,046,685
-66,667
| -3% | -$497K |
|
|
JOYY
1391
JOYY Inc
JOYY
$3.77B
| $15.7M | ﹤0.01% |
504,128
| – | – |
|
|
JWN
1392
DELISTED
Nordstrom
JWN
| $15.7M | ﹤0.01% |
965,583
+29,797
| +3% | +$557K |
|
1393
Vaxcyte
PCVX
$8.5B
| $15.6M | ﹤0.01% |
416,636
+290,757
| +231% | +$12.3M |
|
1394
AAR Corp
AIR
$5.89B
| $15.6M | ﹤0.01% |
286,176
-37,200
| -12% | -$1.93M |
|
1395
Towne Bank
TOWN
$3.44B
| $15.6M | ﹤0.01% |
584,953
| – | – |
|
|
NUVA
1396
DELISTED
NuVasive, Inc.
NUVA
| $15.6M | ﹤0.01% |
376,946
-420,739
| -53% | -$18M |
|
|
SIX
1397
DELISTED
Six Flags Entertainment Corp.
SIX
| $15.6M | ﹤0.01% |
582,258
-83,326
| -13% | -$2.23M |
|
1398
Helmerich & Payne
HP
$3.7B
| $15.5M | ﹤0.01% |
434,003
+68,007
| +19% | +$2.93M |
|
1399
WesBanco
WSBC
$4B
| $15.4M | ﹤0.01% |
500,022
-28,193
| -5% | -$997K |
|
|
AUY
1400
DELISTED
Yamana Gold, Inc.
AUY
| $15.2M | ﹤0.01% |
2,612,792
+168,916
| +7% | +$960K |
|
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.