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 | |
|---|---|---|---|---|---|---|
|
VRE
1451
DELISTED
Veris Residential
VRE
| $13.4M | ﹤0.01% |
916,193
-201,720
| -18% | -$3.21M |
|
1452
Jack in the Box
JACK
$351M
| $13.4M | ﹤0.01% |
153,020
-36,194
| -19% | -$2.86M |
|
1453
LiveRamp
RAMP
$2.3B
| $13.4M | ﹤0.01% |
610,823
-306,982
| -33% | -$7.32M |
|
|
LTC
1454
LTC Properties
LTC
$1.98B
| $13.4M | ﹤0.01% |
380,315
-17,566
| -4% | -$632K |
|
1455
Bread Financial
BFH
$4.54B
| $13.3M | ﹤0.01% |
437,687
-476,767
| -52% | -$17.9M |
|
1456
Methode Electronics
MEI
$613M
| $13.3M | ﹤0.01% |
302,409
-34,912
| -10% | -$1.62M |
|
1457
Sphere Entertainment
SPHR
$5.77B
| $13.2M | ﹤0.01% |
223,974
-28,829
| -11% | -$1.56M |
|
1458
Trustmark
TRMK
$2.83B
| $13.2M | ﹤0.01% |
534,122
-11,858
| -2% | -$350K |
|
1459
Knowles
KN
$3.38B
| $13.2M | ﹤0.01% |
775,287
-77,344
| -9% | -$1.35M |
|
1460
Hilltop Holdings
HTH
$2.28B
| $13.2M | ﹤0.01% |
443,668
-60,296
| -12% | -$1.9M |
|
1461
Xencor
XNCR
$1.47B
| $13.1M | ﹤0.01% |
470,680
-68,265
| -13% | -$2.1M |
|
1462
Central Garden & Pet Co Class A
CENTA
$2.41B
| $13.1M | ﹤0.01% |
418,943
-63,751
| -13% | -$1.96M |
|
1463
Xenon Pharmaceuticals
XENE
$6.19B
| $13.1M | ﹤0.01% |
+365,830
| New | +$13.5M |
|
1464
Patrick Industries
PATK
$2.9B
| $13.1M | ﹤0.01% |
285,090
-47,673
| -14% | -$2.21M |
|
1465
Energizer
ENR
$1.54B
| $13.1M | ﹤0.01% |
376,335
+134,500
| +56% | +$4.76M |
|
1466
Steven Madden
SHOO
$3.59B
| $13.1M | ﹤0.01% |
362,598
-127,383
| -26% | -$4.41M |
|
|
AVNS
1467
DELISTED
Avanos Medical
AVNS
| $13M | ﹤0.01% |
438,222
+29,699
| +7% | +$862K |
|
|
CVSA
1468
Covista Inc
CVSA
$4.42B
| $13M | ﹤0.01% |
337,058
-25,900
| -7% | -$991K |
|
1469
NovaGold Resources
NG
$3.02B
| $13M | ﹤0.01% |
2,090,087
| – | – |
|
1470
Axsome Therapeutics
AXSM
$11B
| $13M | ﹤0.01% |
210,222
-46,175
| -18% | -$3.03M |
|
1471
Freshworks
FRSH
$3.18B
| $13M | ﹤0.01% |
+843,404
| New | +$12.8M |
|
|
AZEK
1472
DELISTED
The AZEK Co
AZEK
| $12.9M | ﹤0.01% |
550,077
+138,731
| +34% | +$3.28M |
|
|
THS
1473
DELISTED
Treehouse Foods
THS
| $12.9M | ﹤0.01% |
256,659
+61,064
| +31% | +$2.95M |
|
1474
Supernus Pharmaceuticals
SUPN
$2.73B
| $12.9M | ﹤0.01% |
357,100
-71,473
| -17% | -$2.75M |
|
1475
AZZ Inc
AZZ
$4.57B
| $12.9M | ﹤0.01% |
313,588
-32,697
| -9% | -$1.34M |
|
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.