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
|
+$1.04B |
| 2 |
Amazon
AMZN
|
+$902M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 4 |
Apple
AAPL
|
+$767M |
| 5 |
NVIDIA
NVDA
|
+$684M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shell
SHEL
|
+$444M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$415M |
| 3 |
Qualcomm
QCOM
|
+$385M |
| 4 |
Synopsys
SNPS
|
+$314M |
| 5 |
Accenture
ACN
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.89% |
| 2 | Financials | 13.39% |
| 3 | Healthcare | 13.16% |
| 4 | Consumer Discretionary | 11.33% |
| 5 | Communication Services | 8.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
HPP
1601
Hudson Pacific Properties
HPP
$747M
| $7.95M | ﹤0.01% |
269,068
-1,217,374
| -82% | -$43.5M |
|
|
BBT
1602
Beacon Financial Corp
BBT
$2.66B
| $7.94M | ﹤0.01% |
383,185
| – | – |
|
1603
Cimpress
CMPR
$2.39B
| $7.94M | ﹤0.01% |
133,466
| – | – |
|
1604
Green Dot
GDOT
$743M
| $7.92M | ﹤0.01% |
422,407
| – | – |
|
|
CSR
1605
Centerspace
CSR
$921M
| $7.89M | ﹤0.01% |
128,579
-15,700
| -11% | -$920K |
|
1606
Iovance Biotherapeutics
IOVA
$1.82B
| $7.89M | ﹤0.01% |
1,120,457
-1,319,600
| -54% | -$9.44M |
|
1607
Varex Imaging
VREX
$472M
| $7.89M | ﹤0.01% |
334,569
+65,000
| +24% | +$1.35M |
|
1608
N-able
NABL
$882M
| $7.73M | ﹤0.01% |
536,689
-35,162
| -6% | -$487K |
|
1609
Schrodinger
SDGR
$1.13B
| $7.72M | ﹤0.01% |
154,556
-253,300
| -62% | -$8.56M |
|
|
GOOS
1610
Canada Goose Holdings
GOOS
$872M
| $7.68M | ﹤0.01% |
431,308
-25,271
| -6% | -$454K |
|
1611
Shenandoah Telecom
SHEN
$664M
| $7.66M | ﹤0.01% |
394,328
-15,000
| -4% | -$294K |
|
1612
Benchmark Electronics
BHE
$2.87B
| $7.64M | ﹤0.01% |
295,870
-118,900
| -29% | -$2.75M |
|
1613
U-Haul Holding Co
UHAL
$13.9B
| $7.63M | ﹤0.01% |
137,901
+102,696
| +292% | +$6.02M |
|
1614
Weis Markets
WMK
$1.91B
| $7.61M | ﹤0.01% |
118,529
| – | – |
|
1615
Ligand Pharmaceuticals
LGND
$5.76B
| $7.6M | ﹤0.01% |
105,477
-26,700
| -20% | -$2M |
|
|
RPT
1616
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $7.58M | ﹤0.01% |
725,579
-246,900
| -25% | -$2.34M |
|
1617
America Movil
AMX
$76.1B
| $7.57M | ﹤0.01% |
350,000
| – | – |
|
|
PDM
1618
Piedmont Realty Trust
PDM
$1.21B
| $7.47M | ﹤0.01% |
1,027,037
-619,367
| -38% | -$4.12M |
|
1619
FuelCell Energy
FCEL
$1.73B
| $7.45M | ﹤0.01% |
114,919
| – | – |
|
1620
Ubiquiti
UI
$33.7B
| $7.4M | ﹤0.01% |
42,103
-5,469
| -11% | -$1.1M |
|
1621
Krispy Kreme
DNUT
$548M
| $7.39M | ﹤0.01% |
501,606
| – | – |
|
1622
Dine Brands
DIN
$456M
| $7.35M | ﹤0.01% |
126,682
| – | – |
|
1623
G-III Apparel Group
GIII
$1.54B
| $7.34M | ﹤0.01% |
381,042
-57,208
| -13% | -$985K |
|
|
BDN
1624
Brandywine Realty Trust
BDN
$524M
| $7.3M | ﹤0.01% |
1,569,834
-154,487
| -9% | -$630K |
|
1625
Portillo's
PTLO
$331M
| $7.15M | ﹤0.01% |
317,393
-820,238
| -72% | -$17.1M |
|
Similar funds
Norges Bank's Q2 2023 Portfolio in Review
As of Q2 2023, Norges Bank held 2,145 positions worth $507B, up 11% from $457B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Norges Bank's Q2 2023 filing shows 58 new, 905 increased, 790 reduced and 138 closed positions. Its largest new stake was Kenvue: 7,326,131 shares worth $194M. The largest sale was Shell, an estimated $444M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 26% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2023 buy was Kenvue: 7,326,131 shares worth $194M.
- Norges Bank added most to Microsoft in Q2 2023, an estimated $1.04B increase.
- Norges Bank's biggest Q2 2023 reduction was Shell, cutting an estimated $444M.
- Norges Bank fully exited Evoqua Water Technologies Corp. Common Stock in Q2 2023, selling an estimated $175M.
- Norges Bank's ten largest holdings make up 27% of its $507B portfolio in Q2 2023.
- Norges Bank opened 58 new positions and closed 138 in Q2 2023.
- Norges Bank's portfolio value rose 11% quarter-over-quarter to $507B.
Based on Norges Bank's 13F filing for Q2 2023, filed 14 Aug 2023.