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 | |
|---|---|---|---|---|---|---|
|
JHG
1401
DELISTED
Janus Henderson
JHG
| $15.2M | ﹤0.01% |
569,063
-192,970
| -25% | -$5.14M |
|
|
HCP
1402
DELISTED
HashiCorp, Inc. Class A Common Stock
HCP
| $15.1M | ﹤0.01% |
517,089
+292,089
| +130% | +$8.72M |
|
1403
InMode
INMD
$869M
| $15.1M | ﹤0.01% |
473,330
+1,639
| +0.3% | +$56.1K |
|
1404
Herbalife
HLF
$1.19B
| $15.1M | ﹤0.01% |
939,180
+128,004
| +16% | +$2.26M |
|
1405
Gates Industrial Corporation Ltd.
GTES
$7.29B
| $15.1M | ﹤0.01% |
1,088,247
| – | – |
|
1406
Atlanta Braves Holdings Series B
BATRK
$3.14B
| $15.1M | ﹤0.01% |
447,804
+14,705
| +3% | +$495K |
|
1407
Petco
WOOF
$791M
| $15.1M | ﹤0.01% |
1,675,375
-594,789
| -26% | -$6.15M |
|
1408
Radian Group
RDN
$4.8B
| $15.1M | ﹤0.01% |
682,153
-56,097
| -8% | -$1.19M |
|
|
RETA
1409
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $15M | ﹤0.01% |
165,482
-39,837
| -19% | -$2.34M |
|
1410
Tennant Co
TNC
$1.26B
| $15M | ﹤0.01% |
219,429
-7,405
| -3% | -$502K |
|
1411
Corcept Therapeutics
CORT
$11.7B
| $14.9M | ﹤0.01% |
689,032
-81,416
| -11% | -$1.78M |
|
1412
Iovance Biotherapeutics
IOVA
$2.68B
| $14.9M | ﹤0.01% |
2,440,057
-534,800
| -18% | -$3.69M |
|
1413
Diamondrock Hospitality Co
DRH
$2.6B
| $14.9M | ﹤0.01% |
1,829,745
-191,047
| -9% | -$1.65M |
|
1414
Vir Biotechnology
VIR
$1.47B
| $14.8M | ﹤0.01% |
636,950
-91,610
| -13% | -$2.34M |
|
1415
Primoris Services
PRIM
$4.48B
| $14.7M | ﹤0.01% |
595,636
+162,400
| +37% | +$4.1M |
|
1416
Tronox
TROX
$1.11B
| $14.7M | ﹤0.01% |
1,020,292
-193,052
| -16% | -$2.98M |
|
|
WBX
1417
Wallbox
WBX
$84.4M
| $14.7M | ﹤0.01% |
+150,000
| New | +$15M |
|
1418
Jack Henry & Associates
JKHY
$11B
| $14.6M | ﹤0.01% |
97,115
-11,851
| -11% | -$1.98M |
|
1419
Renasant Corp
RNST
$3.99B
| $14.6M | ﹤0.01% |
478,390
-29,038
| -6% | -$1.02M |
|
1420
Winnebago Industries
WGO
$895M
| $14.6M | ﹤0.01% |
253,464
-41,331
| -14% | -$2.52M |
|
1421
Dillards
DDS
$9.7B
| $14.6M | ﹤0.01% |
47,365
+2,475
| +6% | +$880K |
|
1422
BGC Group
BGC
$4.91B
| $14.5M | ﹤0.01% |
2,770,368
-529,888
| -16% | -$2.43M |
|
|
ALEX
1423
DELISTED
Alexander & Baldwin
ALEX
| $14.5M | ﹤0.01% |
765,983
+127,488
| +20% | +$2.42M |
|
1424
Box
BOX
$4.37B
| $14.4M | ﹤0.01% |
538,860
-83,500
| -13% | -$2.52M |
|
1425
Affiliated Managers Group
AMG
$9.9B
| $14.4M | ﹤0.01% |
101,345
-371,537
| -79% | -$58.7M |
|
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.