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 | |
|---|---|---|---|---|---|---|
1401
WaFd
WAFD
$2.72B
| $14.4M | ﹤0.01% |
541,933
-25,391
| -4% | -$703K |
|
1402
Standex International
SXI
$3.59B
| $14.3M | ﹤0.01% |
101,382
-15,950
| -14% | -$2.11M |
|
1403
XPO
XPO
$23.6B
| $14.3M | ﹤0.01% |
242,955
-688,298
| -74% | -$31.2M |
|
1404
Greif
GEF
$4.92B
| $14.3M | ﹤0.01% |
207,238
-12,080
| -6% | -$776K |
|
1405
Patterson-UTI
PTEN
$3.98B
| $14.2M | ﹤0.01% |
1,189,934
-293,665
| -20% | -$3.31M |
|
1406
Nu Skin
NUS
$252M
| $14M | ﹤0.01% |
422,566
| – | – |
|
1407
Urban Edge Properties
UE
$2.86B
| $14M | ﹤0.01% |
909,142
-163,456
| -15% | -$2.36M |
|
1408
Kratos Defense & Security Solutions
KTOS
$8.74B
| $14M | ﹤0.01% |
976,728
-85,000
| -8% | -$1.15M |
|
|
GAP
1409
The Gap Inc
GAP
$7.23B
| $14M | ﹤0.01% |
1,565,592
+1,056,207
| +207% | +$9.42M |
|
1410
Bank of Hawaii
BOH
$3.15B
| $14M | ﹤0.01% |
338,379
-84,292
| -20% | -$3.73M |
|
1411
Magnite
MGNI
$2.76B
| $13.9M | ﹤0.01% |
1,020,182
-81,104
| -7% | -$903K |
|
1412
Tandem Diabetes Care
TNDM
$1.34B
| $13.9M | ﹤0.01% |
567,378
+9,466
| +2% | +$305K |
|
|
NBIS
1413
Nebius Group N.V.
NBIS
$48.3B
| $13.9M | ﹤0.01% |
2,934,312
| – | – |
|
1414
Diamondrock Hospitality Co
DRH
$2.71B
| $13.9M | ﹤0.01% |
1,730,172
-99,573
| -5% | -$805K |
|
1415
Huron Consulting
HURN
$2.41B
| $13.8M | ﹤0.01% |
162,913
-7,812
| -5% | -$641K |
|
1416
Gray Television
GTN
$415M
| $13.8M | ﹤0.01% |
1,752,543
+1,004,165
| +134% | +$7.72M |
|
1417
First Merchants
FRME
$2.68B
| $13.8M | ﹤0.01% |
487,633
-10,345
| -2% | -$294K |
|
1418
St. Joe Company
JOE
$3.54B
| $13.6M | ﹤0.01% |
282,131
-18,285
| -6% | -$797K |
|
1419
Towne Bank
TOWN
$3.46B
| $13.6M | ﹤0.01% |
584,953
| – | – |
|
1420
SiteOne Landscape Supply
SITE
$4.12B
| $13.6M | ﹤0.01% |
81,045
+2,850
| +4% | +$421K |
|
1421
Bread Financial
BFH
$4.37B
| $13.6M | ﹤0.01% |
431,787
-5,900
| -1% | -$169K |
|
|
PLL
1422
DELISTED
Piedmont Lithium
PLL
| $13.5M | ﹤0.01% |
+234,314
| New | +$13.4M |
|
1423
CNA Financial
CNA
$14.2B
| $13.5M | ﹤0.01% |
349,274
| – | – |
|
1424
RELX
RELX
$61.8B
| $13.4M | ﹤0.01% |
400,000
-95,000
| -19% | -$3.06M |
|
1425
Enerpac Tool Group
EPAC
$1.83B
| $13.4M | ﹤0.01% |
495,170
-128,000
| -21% | -$3.25M |
|
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.