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 | |
|---|---|---|---|---|---|---|
1651
Life Time Group Holdings
LTH
$9.19B
| $7.47M | ﹤0.01% |
624,688
| – | – |
|
1652
Matthews International
MATW
$618M
| $7.46M | ﹤0.01% |
245,065
| – | – |
|
1653
Napco Security Technologies
NSSC
$1.28B
| $7.43M | ﹤0.01% |
270,442
+179,042
| +196% | +$4.83M |
|
1654
Regenxbio
RGNX
$518M
| $7.41M | ﹤0.01% |
326,618
| – | – |
|
|
VMEO
1655
DELISTED
Vimeo
VMEO
| $7.39M | ﹤0.01% |
2,153,967
+811,800
| +60% | +$3.14M |
|
1656
TTEC Holdings
TTEC
$62.6M
| $7.38M | ﹤0.01% |
167,262
| – | – |
|
1657
Pool Corp
POOL
$6.07B
| $7.38M | ﹤0.01% |
24,399
+17,344
| +246% | +$5.49M |
|
1658
Pentair
PNR
$9.01B
| $7.36M | ﹤0.01% |
163,730
-137,583
| -46% | -$5.98M |
|
1659
Middleby
MIDD
$5.08B
| $7.36M | ﹤0.01% |
54,976
+31,137
| +131% | +$4.24M |
|
1660
Kulicke & Soffa
KLIC
$4.14B
| $7.33M | ﹤0.01% |
165,523
| – | – |
|
|
DMC
1661
Del Monte Corp
DMC
$1.48B
| $7.33M | ﹤0.01% |
279,695
+52,200
| +23% | +$1.37M |
|
1662
BridgeBio Pharma
BBIO
$13.2B
| $7.32M | ﹤0.01% |
960,595
| – | – |
|
1663
JELD-WEN Holding
JELD
$175M
| $7.32M | ﹤0.01% |
758,108
| – | – |
|
|
TSE
1664
DELISTED
Trinseo
TSE
| $7.31M | ﹤0.01% |
321,900
| – | – |
|
1665
PRA Group
PRAA
$724M
| $7.31M | ﹤0.01% |
216,279
-68,300
| -24% | -$2.25M |
|
1666
Kornit Digital
KRNT
$669M
| $7.26M | ﹤0.01% |
315,880
+111,809
| +55% | +$2.79M |
|
1667
Equinox Gold
EQX
$13.7B
| $7.23M | ﹤0.01% |
2,206,459
| – | – |
|
1668
Sotera Health
SHC
$5.38B
| $7.22M | ﹤0.01% |
866,431
+177,161
| +26% | +$1.32M |
|
1669
Dick's Sporting Goods
DKS
$11.1B
| $7.18M | ﹤0.01% |
59,708
+13,344
| +29% | +$1.5M |
|
|
AGNT
1670
AGNT Inc
AGNT
$652M
| $7.17M | ﹤0.01% |
647,398
| – | – |
|
1671
Ecopetrol
EC
$37.6B
| $7.16M | ﹤0.01% |
+683,690
| New | +$6.66M |
|
1672
HEICO Corp
HEI
$41.5B
| $7.14M | ﹤0.01% |
46,447
-2,550
| -5% | -$397K |
|
|
DCH
1673
Dauch Corp
DCH
$1.46B
| $7.13M | ﹤0.01% |
911,159
-166,800
| -15% | -$1.49M |
|
1674
IMAX
IMAX
$2.92B
| $7.1M | ﹤0.01% |
484,368
-151,970
| -24% | -$2.22M |
|
1675
Protolabs
PRLB
$1.87B
| $7.03M | ﹤0.01% |
275,542
| – | – |
|
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.