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 |
Alphabet (Google) Class C
GOOG
|
+$1.1B |
| 2 |
Apple
AAPL
|
+$1.1B |
| 3 |
Microsoft
MSFT
|
+$819M |
| 4 |
Cigna
CI
|
+$613M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$472M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T-Mobile US
TMUS
|
+$548M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$506M |
| 3 |
TWTR
Twitter, Inc.
TWTR
|
+$388M |
| 4 |
DRE
Duke Realty Corp.
DRE
|
+$358M |
| 5 |
IBM
IBM
|
+$211M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.98% |
| 2 | Healthcare | 15.12% |
| 3 | Financials | 15.08% |
| 4 | Consumer Discretionary | 10.12% |
| 5 | Industrials | 8.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1476
Acadia Realty Trust
AKR
$2.7B
| $12.8M | ﹤0.01% |
892,812
| – | – |
|
1477
Monro
MNRO
$391M
| $12.8M | ﹤0.01% |
282,967
-20,333
| -7% | -$939K |
|
1478
ZIM Integrated Shipping Services
ZIM
$3.56B
| $12.8M | ﹤0.01% |
743,875
-67,237
| -8% | -$1.5M |
|
1479
Kratos Defense & Security Solutions
KTOS
$8.94B
| $12.8M | ﹤0.01% |
1,236,393
+123,200
| +11% | +$1.23M |
|
|
VISN
1480
Vistance Networks Inc
VISN
$1.55B
| $12.7M | ﹤0.01% |
1,724,645
+124,977
| +8% | +$1.21M |
|
|
HBI
1481
DELISTED
Hanesbrands
HBI
| $12.7M | ﹤0.01% |
1,991,053
+1,515,472
| +319% | +$10.4M |
|
|
KYNB
1482
Kyntra Bio
KYNB
$31.5M
| $12.6M | ﹤0.01% |
31,564
| – | – |
|
1483
Standex International
SXI
$3.13B
| $12.6M | ﹤0.01% |
123,105
-21,600
| -15% | -$2.12M |
|
1484
Magnite
MGNI
$3.4B
| $12.6M | ﹤0.01% |
1,187,688
| – | – |
|
1485
IAMGOLD
IAG
$11.2B
| $12.6M | ﹤0.01% |
4,881,363
| – | – |
|
1486
Definitive Healthcare
DH
$107M
| $12.5M | ﹤0.01% |
1,139,884
| – | – |
|
1487
Shake Shack
SHAK
$2.35B
| $12.5M | ﹤0.01% |
301,328
+20,080
| +7% | +$978K |
|
1488
NovaGold Resources
NG
$3.18B
| $12.5M | ﹤0.01% |
2,090,087
| – | – |
|
1489
Westamerica Bancorp
WABC
$1.39B
| $12.5M | ﹤0.01% |
211,446
| – | – |
|
1490
BGC Group
BGC
$5.77B
| $12.4M | ﹤0.01% |
3,300,256
+412,700
| +14% | +$1.63M |
|
1491
Gates Industrial Corp
GTES
$6.46B
| $12.4M | ﹤0.01% |
1,088,247
+59,625
| +6% | +$657K |
|
1492
XP
XP
$9.91B
| $12.3M | ﹤0.01% |
804,332
+190,219
| +31% | +$3.33M |
|
1493
Medifast
MED
$134M
| $12.2M | ﹤0.01% |
105,681
| – | – |
|
1494
Brinker International
EAT
$8.5B
| $12.2M | ﹤0.01% |
381,751
-118,200
| -24% | -$3.72M |
|
1495
Global Net Lease
GNL
$2.08B
| $12.1M | ﹤0.01% |
965,777
| – | – |
|
1496
Surgery Partners
SGRY
$1.79B
| $12.1M | ﹤0.01% |
435,030
+133,490
| +44% | +$3.54M |
|
1497
Cerence
CRNC
$363M
| $12.1M | ﹤0.01% |
653,951
+184,906
| +39% | +$3.17M |
|
|
MOMO
1498
Hello Group
MOMO
$714M
| $12.1M | ﹤0.01% |
1,346,515
| – | – |
|
1499
Herbalife
HLF
$1.25B
| $12.1M | ﹤0.01% |
811,176
+71,868
| +10% | +$1.25M |
|
|
ETWO
1500
DELISTED
E2open Parent Holdings
ETWO
| $12.1M | ﹤0.01% |
2,055,933
+1,598,732
| +350% | +$9.16M |
|
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Norges Bank's Q4 2022 Portfolio in Review
As of Q4 2022, Norges Bank held 2,222 positions worth $415B, up 10% from $376B the previous quarter. Its ten largest holdings account for 21% of the portfolio.
Norges Bank deployed $17.2B of net new capital in Q4 2022, opening 133 new positions and adding to 1,177 existing holdings. Its largest new stake was Mobileye: 12,085,900 shares worth $424M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 24% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was T-Mobile US, an estimated $548M trimmed.
- Norges Bank's largest Q4 2022 buy was Mobileye: 12,085,900 shares worth $424M.
- Norges Bank added most to Alphabet (Google) Class C in Q4 2022, an estimated $1.1B increase.
- Norges Bank's biggest Q4 2022 reduction was T-Mobile US, cutting an estimated $548M.
- Norges Bank fully exited Twitter, Inc. in Q4 2022, selling an estimated $388M.
- Norges Bank's ten largest holdings make up 21% of its $415B portfolio in Q4 2022.
- Norges Bank opened 133 new positions and closed 92 in Q4 2022.
- Norges Bank's portfolio value rose 10% quarter-over-quarter to $415B.
Based on Norges Bank's 13F filing for Q4 2022, filed 14 Feb 2023.