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
|
+$764M |
| 2 |
UBS Group
UBS
|
+$753M |
| 3 |
Apple
AAPL
|
+$665M |
| 4 |
JPMorgan Chase
JPM
|
+$621M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$498M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$811M |
| 2 |
Oracle
ORCL
|
+$505M |
| 3 |
T-Mobile US
TMUS
|
+$390M |
| 4 |
Deutsche Bank
DB
|
+$275M |
| 5 |
GE Aerospace
GE
|
+$240M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.11% |
| 2 | Financials | 13.76% |
| 3 | Healthcare | 13.71% |
| 4 | Consumer Discretionary | 10.81% |
| 5 | Communication Services | 7.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1651
Shenandoah Telecom
SHEN
$720M
| $7.79M | ﹤0.01% |
409,328
| – | – |
|
1652
Telephone and Data Systems
TDS
$4.03B
| $7.75M | ﹤0.01% |
737,747
-104,580
| -12% | -$1.22M |
|
|
TDCX
1653
DELISTED
TDCX Inc. American Depositary Shares, each representing one Class A ordinary share
TDCX
| $7.74M | ﹤0.01% |
870,000
| – | – |
|
|
UNIT
1654
Uniti Group
UNIT
$2.35B
| $7.74M | ﹤0.01% |
2,181,011
| – | – |
|
1655
Xerox
XRX
$412M
| $7.72M | ﹤0.01% |
501,356
-18,782
| -4% | -$304K |
|
|
FL
1656
DELISTED
Foot Locker
FL
| $7.72M | ﹤0.01% |
194,434
-75,905
| -28% | -$3.17M |
|
|
EQRX
1657
DELISTED
EQRx, Inc. Common Stock
EQRX
| $7.7M | ﹤0.01% |
+3,969,700
| New | +$9.04M |
|
1658
Capitol Federal Financial
CFFN
$1.12B
| $7.69M | ﹤0.01% |
1,143,036
-41,152
| -3% | -$334K |
|
1659
Empire State Realty Trust
ESRT
$843M
| $7.69M | ﹤0.01% |
1,185,231
-189,874
| -14% | -$1.39M |
|
1660
IMAX
IMAX
$2.78B
| $7.65M | ﹤0.01% |
398,885
-85,483
| -18% | -$1.47M |
|
1661
Virgin Galactic
SPCE
$371M
| $7.64M | ﹤0.01% |
94,378
| – | – |
|
1662
NetEase
NTES
$82B
| $7.61M | ﹤0.01% |
86,101
| – | – |
|
|
AGNT
1663
AGNT Inc
AGNT
$666M
| $7.57M | ﹤0.01% |
596,808
-50,590
| -8% | -$675K |
|
1664
N-able
NABL
$940M
| $7.55M | ﹤0.01% |
571,851
+241,347
| +73% | +$2.67M |
|
|
AMWD
1665
DELISTED
American Woodmark
AMWD
| $7.48M | ﹤0.01% |
143,686
+11,800
| +9% | +$639K |
|
1666
Harmony Biosciences
HRMY
$2.21B
| $7.39M | ﹤0.01% |
226,228
-13,999
| -6% | -$638K |
|
1667
BioCryst Pharmaceuticals
BCRX
$2.31B
| $7.38M | ﹤0.01% |
884,863
-267,253
| -23% | -$2.57M |
|
1668
America Movil
AMX
$72.1B
| $7.37M | ﹤0.01% |
350,000
-250,000
| -42% | -$5.13M |
|
1669
TTM Technologies
TTMI
$13.6B
| $7.32M | ﹤0.01% |
542,374
-32,051
| -6% | -$464K |
|
1670
Green Dot
GDOT
$764M
| $7.26M | ﹤0.01% |
422,407
-71,927
| -15% | -$1.26M |
|
1671
La-Z-Boy
LZB
$1.66B
| $7.17M | ﹤0.01% |
246,461
-49,837
| -17% | -$1.42M |
|
1672
Adaptive Biotechnologies
ADPT
$3.91B
| $7.12M | ﹤0.01% |
805,972
-274,249
| -25% | -$2.42M |
|
|
DCH
1673
Dauch Corp
DCH
$1.42B
| $7.12M | ﹤0.01% |
911,159
| – | – |
|
1674
MGP Ingredients
MGPI
$379M
| $7.1M | ﹤0.01% |
+73,442
| New | +$7.18M |
|
1675
Scholastic
SCHL
$801M
| $7.1M | ﹤0.01% |
207,520
| – | – |
|
Similar funds
Norges Bank's Q1 2023 Portfolio in Review
As of Q1 2023, Norges Bank held 2,211 positions worth $457B, up 10% from $415B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Norges Bank's Q1 2023 filing shows 81 new, 1,022 increased, 782 reduced and 124 closed positions. Its largest new stake was GE HealthCare: 2,602,917 shares worth $214M. The largest sale was Bank of America, an estimated $811M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2023 buy was GE HealthCare: 2,602,917 shares worth $214M.
- Norges Bank added most to Microsoft in Q1 2023, an estimated $764M increase.
- Norges Bank's biggest Q1 2023 reduction was Bank of America, cutting an estimated $811M.
- Norges Bank fully exited SVB Financial Group in Q1 2023, selling an estimated $141M.
- Norges Bank's ten largest holdings make up 24% of its $457B portfolio in Q1 2023.
- Norges Bank opened 81 new positions and closed 124 in Q1 2023.
- Norges Bank's portfolio value rose 10% quarter-over-quarter to $457B.
Based on Norges Bank's 13F filing for Q1 2023, filed 15 May 2023.