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 | |
|---|---|---|---|---|---|---|
|
UNIT
1501
Uniti Group
UNIT
$2.37B
| $12.1M | ﹤0.01% |
2,181,011
| – | – |
|
1502
Omnicom Group
OMC
$21.9B
| $12M | ﹤0.01% |
147,468
+40,851
| +38% | +$3.03M |
|
|
GTY
1503
Getty Realty Corp
GTY
$1.95B
| $12M | ﹤0.01% |
354,998
-77,900
| -18% | -$2.46M |
|
|
TWO
1504
DELISTED
Two Harbors Investment
TWO
| $12M | ﹤0.01% |
761,241
-1
| -0% | -$15 |
|
|
ALEX
1505
DELISTED
Alexander & Baldwin
ALEX
| $12M | ﹤0.01% |
638,495
| – | – |
|
|
ONC
1506
BeOne Medicines Ltd
ONC
$39.2B
| $11.9M | ﹤0.01% |
54,000
| – | – |
|
|
SAVE
1507
DELISTED
Spirit Airlines, Inc.
SAVE
| $11.9M | ﹤0.01% |
609,585
+308,300
| +102% | +$6.33M |
|
|
NBIS
1508
Nebius Group N.V.
NBIS
$56.4B
| $11.9M | ﹤0.01% |
2,934,312
| – | – |
|
1509
Blue Owl Capital
OWL
$7B
| $11.9M | ﹤0.01% |
1,118,894
| – | – |
|
1510
Hain Celestial
HAIN
$56.7M
| $11.8M | ﹤0.01% |
730,756
-348,840
| -32% | -$6.22M |
|
|
BBT
1511
Beacon Financial Corp
BBT
$2.63B
| $11.8M | ﹤0.01% |
394,957
-49,900
| -11% | -$1.47M |
|
1512
DNOW Inc
DNOW
$2.91B
| $11.8M | ﹤0.01% |
928,449
| – | – |
|
1513
Grand Canyon Education
LOPE
$4B
| $11.8M | ﹤0.01% |
111,310
-42,056
| -27% | -$4.19M |
|
1514
Shift4
FOUR
$3.34B
| $11.6M | ﹤0.01% |
208,056
| – | – |
|
1515
nCino
NCNO
$2.32B
| $11.6M | ﹤0.01% |
439,740
+67,297
| +18% | +$1.89M |
|
1516
Alignment Healthcare
ALHC
$2.15B
| $11.6M | ﹤0.01% |
986,486
+245,400
| +33% | +$2.99M |
|
1517
Bumble
BMBL
$399M
| $11.6M | ﹤0.01% |
551,101
+52,351
| +10% | +$1.2M |
|
1518
ICL Group
ICL
$7.2B
| $11.6M | ﹤0.01% |
1,606,603
+538,749
| +50% | +$4.46M |
|
1519
Dropbox
DBX
$8.18B
| $11.6M | ﹤0.01% |
516,689
+80,874
| +19% | +$1.78M |
|
1520
Boston Beer
SAM
$1.76B
| $11.5M | ﹤0.01% |
34,943
+6,514
| +23% | +$2.36M |
|
|
EVBG
1521
DELISTED
Everbridge, Inc. Common Stock
EVBG
| $11.5M | ﹤0.01% |
387,966
| – | – |
|
1522
Rithm Capital
RITM
$5.34B
| $11.4M | ﹤0.01% |
1,397,251
-2,595,382
| -65% | -$21.7M |
|
1523
Archrock
AROC
$5.36B
| $11.4M | ﹤0.01% |
1,267,243
| – | – |
|
1524
Sphere Entertainment
SPHR
$5.18B
| $11.4M | ﹤0.01% |
252,803
| – | – |
|
1525
Celestica
CLS
$40B
| $11.4M | ﹤0.01% |
1,007,882
| – | – |
|
Similar funds
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.