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
|
+$1.63B |
| 2 |
Apple
AAPL
|
+$1.62B |
| 3 |
Meta Platforms (Facebook)
META
|
+$1.18B |
| 4 |
Amazon
AMZN
|
+$978M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$769M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AT&T
T
|
+$509M |
| 2 |
Chevron
CVX
|
+$405M |
| 3 |
T-Mobile US
TMUS
|
+$339M |
| 4 |
lululemon athletica
LULU
|
+$302M |
| 5 |
ACC
American Campus Communities, Inc.
ACC
|
+$301M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.69% |
| 2 | Financials | 14.38% |
| 3 | Healthcare | 14.2% |
| 4 | Consumer Discretionary | 10.56% |
| 5 | Communication Services | 8.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SCS
1701
DELISTED
Steelcase
SCS
| $6.48M | ﹤0.01% |
603,698
-116,166
| -16% | -$1.34M |
|
|
AMWD
1702
DELISTED
American Woodmark
AMWD
| $6.47M | ﹤0.01% |
143,686
+14,015
| +11% | +$677K |
|
1703
Alector
ALEC
$165M
| $6.45M | ﹤0.01% |
635,156
+109,200
| +21% | +$1.09M |
|
1704
Washington Trust Bancorp
WASH
$753M
| $6.45M | ﹤0.01% |
133,320
| – | – |
|
1705
Nektar Therapeutics
NKTR
$2.47B
| $6.45M | ﹤0.01% |
113,123
+6,748
| +6% | +$426K |
|
1706
Weibo
WB
$1.95B
| $6.34M | ﹤0.01% |
+274,014
| New | +$6.14M |
|
|
LGF.A
1707
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $6.32M | ﹤0.01% |
679,063
+462,861
| +214% | +$5.65M |
|
1708
Compass Minerals
CMP
$1.26B
| $6.3M | ﹤0.01% |
177,940
-51,115
| -22% | -$2.53M |
|
|
OPTU
1709
Optimum Communications Inc
OPTU
$307M
| $6.29M | ﹤0.01% |
679,927
-407,267
| -37% | -$4.26M |
|
|
BBBY
1710
DELISTED
Bed Bath & Beyond Inc
BBBY
| $6.27M | ﹤0.01% |
+1,261,144
| New | +$14.7M |
|
|
PRA
1711
DELISTED
ProAssurance
PRA
| $6.25M | ﹤0.01% |
264,698
-112,962
| -30% | -$2.65M |
|
1712
Brookdale Senior Living
BKD
$3.45B
| $6.25M | ﹤0.01% |
1,376,732
-271,206
| -16% | -$1.6M |
|
1713
Tower Semiconductor
TSEM
$23.9B
| $6.24M | ﹤0.01% |
134,920
-15,438
| -10% | -$735K |
|
|
SOHU
1714
Sohu.com
SOHU
$359M
| $6.24M | ﹤0.01% |
376,513
| – | – |
|
1715
Atara Biotherapeutics
ATRA
$76.9M
| $6.23M | ﹤0.01% |
31,990
-7,044
| -18% | -$1.15M |
|
|
BRSP
1716
BrightSpire Capital
BRSP
$633M
| $6.21M | ﹤0.01% |
823,069
| – | – |
|
|
DMC
1717
Del Monte Corp
DMC
$1.4B
| $6.19M | ﹤0.01% |
209,779
-60,960
| -23% | -$1.55M |
|
|
DCH
1718
Dauch Corp
DCH
$1.42B
| $6.18M | ﹤0.01% |
821,359
-161,531
| -16% | -$1.21M |
|
1719
Axcelis
ACLS
$4.2B
| $6.17M | ﹤0.01% |
112,516
+52,000
| +86% | +$3.01M |
|
1720
E.W. Scripps
SSP
$263M
| $6.16M | ﹤0.01% |
494,106
-25,842
| -5% | -$413K |
|
1721
Consensus Cloud Solutions
CCSI
$702M
| $6.13M | ﹤0.01% |
140,306
| – | – |
|
1722
Surgery Partners
SGRY
$2B
| $6.09M | ﹤0.01% |
210,620
+91,564
| +77% | +$4M |
|
1723
AdaptHealth
AHCO
$884M
| $6.05M | ﹤0.01% |
335,580
+13,059
| +4% | +$212K |
|
1724
TriMas Corp
TRS
$1.47B
| $6.05M | ﹤0.01% |
218,563
-28,306
| -11% | -$818K |
|
|
RETA
1725
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $6.04M | ﹤0.01% |
198,730
+10,848
| +6% | +$324K |
|
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Norges Bank's Q2 2022 Portfolio in Review
As of Q2 2022, Norges Bank held 2,232 positions worth $387B, down 16% from $459B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Norges Bank's Q2 2022 filing shows 70 new, 787 increased, 1,058 reduced and 180 closed positions. Its largest new stake was Bausch + Lomb: 3,234,219 shares worth $49.3M. The largest sale was AT&T, an estimated $509M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 24% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2022 buy was Bausch + Lomb: 3,234,219 shares worth $49.3M.
- Norges Bank added most to Microsoft in Q2 2022, an estimated $1.63B increase.
- Norges Bank's biggest Q2 2022 reduction was AT&T, cutting an estimated $509M.
- Norges Bank fully exited Cerner Corp in Q2 2022, selling an estimated $279M.
- Norges Bank's ten largest holdings make up 23% of its $387B portfolio in Q2 2022.
- Norges Bank opened 70 new positions and closed 180 in Q2 2022.
- Norges Bank's portfolio value fell 16% quarter-over-quarter to $387B.
Based on Norges Bank's 13F filing for Q2 2022, filed 11 Aug 2022.