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 | |
|---|---|---|---|---|---|---|
1551
Newmark Group
NMRK
$2.58B
| $10.5M | ﹤0.01% |
1,323,402
+160,600
| +14% | +$1.34M |
|
1552
Pilgrim's Pride
PPC
$7.11B
| $10.5M | ﹤0.01% |
444,337
-13,708
| -3% | -$327K |
|
1553
Enanta Pharmaceuticals
ENTA
$358M
| $10.5M | ﹤0.01% |
226,419
+66,600
| +42% | +$3.04M |
|
1554
CorVel
CRVL
$3.62B
| $10.5M | ﹤0.01% |
216,237
+33,633
| +18% | +$1.67M |
|
1555
Encore Capital Group
ECPG
$2.1B
| $10.5M | ﹤0.01% |
218,351
| – | – |
|
|
CIM
1556
Chimera Investment
CIM
$909M
| $10.4M | ﹤0.01% |
630,030
+38,567
| +7% | +$719K |
|
|
PRO
1557
DELISTED
PROS Holdings
PRO
| $10.4M | ﹤0.01% |
428,480
+12,600
| +3% | +$309K |
|
|
LAZR
1558
DELISTED
Luminar Technologies
LAZR
| $10.4M | ﹤0.01% |
139,807
| – | – |
|
|
AVTA
1559
DELISTED
Avantax, Inc. Common Stock
AVTA
| $10.3M | ﹤0.01% |
404,940
| – | – |
|
|
SAFE
1560
DELISTED
Safehold Inc.
SAFE
| $10.3M | ﹤0.01% |
360,575
+209,143
| +138% | +$5.96M |
|
1561
Upwork
UPWK
$1.08B
| $10.3M | ﹤0.01% |
982,495
| – | – |
|
1562
Abercrombie & Fitch
ANF
$5.74B
| $10.2M | ﹤0.01% |
447,235
+180,400
| +68% | +$3.55M |
|
1563
Capitol Federal Financial
CFFN
$1.09B
| $10.2M | ﹤0.01% |
1,184,188
| – | – |
|
1564
S&T Bancorp
STBA
$1.78B
| $10.2M | ﹤0.01% |
299,575
| – | – |
|
|
FL
1565
DELISTED
Foot Locker
FL
| $10.2M | ﹤0.01% |
270,339
-86,618
| -24% | -$2.97M |
|
1566
Fomento Económico Mexicano
FMX
$41.4B
| $10.2M | ﹤0.01% |
130,339
| – | – |
|
1567
Zillow
Z
$7.31B
| $10.2M | ﹤0.01% |
315,963
-1,737,914
| -85% | -$57.6M |
|
1568
Adeia
ADEA
$2.75B
| $10.2M | ﹤0.01% |
1,071,196
-2,977,925
| -74% | -$30.3M |
|
1569
Teva Pharmaceuticals
TEVA
$45.7B
| $10.2M | ﹤0.01% |
1,113,000
+218,000
| +24% | +$1.9M |
|
|
MYOV
1570
DELISTED
Myovant Sciences Ltd.
MYOV
| $10.1M | ﹤0.01% |
375,781
+32,908
| +10% | +$866K |
|
1571
Embecta
EMBC
$288M
| $10.1M | ﹤0.01% |
400,407
-80,752
| -17% | -$2.47M |
|
|
ALTR
1572
DELISTED
Altair Engineering Inc
ALTR
| $10.1M | ﹤0.01% |
221,829
-230,019
| -51% | -$10.8M |
|
1573
Liberty Latin America Class C
LILAK
$1.73B
| $10.1M | ﹤0.01% |
1,458,485
| – | – |
|
|
HYZN
1574
DELISTED
Hyzon Motors Inc. Class A Common Stock
HYZN
| $10.1M | ﹤0.01% |
130,000
| – | – |
|
1575
Compass Minerals
CMP
$1B
| $10M | ﹤0.01% |
244,123
+70,100
| +40% | +$2.9M |
|
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.