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 | |
|---|---|---|---|---|---|---|
|
JAMF
1601
DELISTED
Jamf
JAMF
| $9.16M | ﹤0.01% |
430,020
+91,245
| +27% | +$2.01M |
|
|
MFA
1602
MFA Financial
MFA
$852M
| $9.12M | ﹤0.01% |
926,073
+170,800
| +23% | +$1.72M |
|
1603
Gray Television
GTN
$492M
| $9.12M | ﹤0.01% |
814,579
| – | – |
|
1604
The Greenbrier Companies
GBX
$1.32B
| $9.11M | ﹤0.01% |
271,815
-166,000
| -38% | -$5.53M |
|
1605
Appian
APPN
$2.72B
| $9.11M | ﹤0.01% |
279,716
| – | – |
|
1606
Dine Brands
DIN
$343M
| $9.05M | ﹤0.01% |
140,117
| – | – |
|
1607
Veracyte
VCYT
$3.23B
| $8.99M | ﹤0.01% |
378,828
+65,123
| +21% | +$1.51M |
|
1608
Kforce
KFRC
$929M
| $8.96M | ﹤0.01% |
+163,400
| New | +$9.44M |
|
1609
Brookdale Senior Living
BKD
$2.83B
| $8.86M | ﹤0.01% |
3,244,812
+1,157,580
| +55% | +$4.33M |
|
1610
Ubiquiti
UI
$34.1B
| $8.85M | ﹤0.01% |
32,372
-22,956
| -41% | -$6.83M |
|
1611
Telephone and Data Systems
TDS
$4.35B
| $8.84M | ﹤0.01% |
842,327
| – | – |
|
|
OPTU
1612
Optimum Communications Inc
OPTU
$377M
| $8.82M | ﹤0.01% |
1,917,727
+1,237,800
| +182% | +$6.08M |
|
1613
Sally Beauty Holdings
SBH
$1.47B
| $8.77M | ﹤0.01% |
700,124
| – | – |
|
1614
Stratasys
SSYS
$659M
| $8.76M | ﹤0.01% |
738,635
| – | – |
|
1615
TTM Technologies
TTMI
$11.8B
| $8.66M | ﹤0.01% |
574,425
+28,800
| +5% | +$427K |
|
1616
Cinemark Holdings
CNK
$3.93B
| $8.66M | ﹤0.01% |
999,912
-552,153
| -36% | -$6.22M |
|
1617
Palomar
PLMR
$3.64B
| $8.61M | ﹤0.01% |
190,663
| – | – |
|
1618
National Beverage
FIZZ
$2.94B
| $8.56M | ﹤0.01% |
183,970
+13,806
| +8% | +$648K |
|
1619
Broadridge
BR
$19.4B
| $8.55M | ﹤0.01% |
63,764
-970,845
| -94% | -$138M |
|
|
GOOS
1620
Canada Goose Holdings
GOOS
$724M
| $8.54M | ﹤0.01% |
479,581
| – | – |
|
|
BRKL
1621
DELISTED
Brookline Bancorp
BRKL
| $8.5M | ﹤0.01% |
600,784
| – | – |
|
1622
Urban Outfitters
URBN
$6.5B
| $8.44M | ﹤0.01% |
353,782
+188,000
| +113% | +$4.68M |
|
|
AZEK
1623
DELISTED
The AZEK Co
AZEK
| $8.36M | ﹤0.01% |
+411,346
| New | +$7.61M |
|
|
DCT
1624
DELISTED
Duck Creek Technologies, Inc. Common Stock
DCT
| $8.28M | ﹤0.01% |
686,792
+96,900
| +16% | +$1.11M |
|
1625
Sturm, Ruger & Co
RGR
$595M
| $8.26M | ﹤0.01% |
163,160
-74,800
| -31% | -$4.07M |
|
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.