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 | |
|---|---|---|---|---|---|---|
1701
MakeMyTrip
MMYT
$4.75B
| $6.56M | ﹤0.01% |
238,026
-204,290
| -46% | -$5.9M |
|
1702
Consensus Cloud Solutions
CCSI
$673M
| $6.56M | ﹤0.01% |
121,952
| – | – |
|
1703
AbCellera Biologics
ABCL
$3.62B
| $6.55M | ﹤0.01% |
646,699
+124,289
| +24% | +$1.44M |
|
1704
4D Molecular Therapeutics
FDMT
$728M
| $6.53M | ﹤0.01% |
+294,000
| New | +$4.54M |
|
1705
Shenandoah Telecom
SHEN
$659M
| $6.5M | ﹤0.01% |
409,328
| – | – |
|
|
TA
1706
DELISTED
TravelCenters of America LLC
TA
| $6.49M | ﹤0.01% |
145,000
| – | – |
|
1707
G-III Apparel Group
GIII
$1.2B
| $6.48M | ﹤0.01% |
472,550
+69,000
| +17% | +$1.16M |
|
|
AMWD
1708
DELISTED
American Woodmark
AMWD
| $6.44M | ﹤0.01% |
131,886
+1,800
| +1% | +$89.4K |
|
1709
TriMas Corp
TRS
$1.38B
| $6.44M | ﹤0.01% |
232,263
| – | – |
|
1710
Marten Transport
MRTN
$1.13B
| $6.43M | ﹤0.01% |
325,100
-48,500
| -13% | -$968K |
|
1711
Rocket Pharmaceuticals
RCKT
$377M
| $6.28M | ﹤0.01% |
320,773
| – | – |
|
|
LGF.A
1712
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $6.26M | ﹤0.01% |
1,097,066
| – | – |
|
1713
NetEase
NTES
$75.5B
| $6.25M | ﹤0.01% |
86,101
+4,652
| +6% | +$317K |
|
1714
Choice Hotels
CHH
$4.36B
| $6.24M | ﹤0.01% |
55,358
+19,022
| +52% | +$2.27M |
|
|
TWKS
1715
DELISTED
Thoughtworks Holding, Inc. Common Stock
TWKS
| $6.2M | ﹤0.01% |
608,395
+360,649
| +146% | +$3.35M |
|
|
AAMI
1716
Acadian Asset Management
AAMI
$3.23B
| $6.16M | ﹤0.01% |
299,550
-160,400
| -35% | -$3.03M |
|
1717
1st Source
SRCE
$2.1B
| $6.16M | ﹤0.01% |
116,087
| – | – |
|
|
HCP
1718
DELISTED
HashiCorp, Inc. Class A Common Stock
HCP
| $6.15M | ﹤0.01% |
225,000
| – | – |
|
|
ACH
1719
Accendra Health
ACH
$86.1M
| $6.15M | ﹤0.01% |
314,767
| – | – |
|
1720
Theravance Biopharma
TBPH
$883M
| $6.12M | ﹤0.01% |
545,427
| – | – |
|
1721
Sanmina
SANM
$11.6B
| $6.1M | ﹤0.01% |
+106,501
| New | +$6.3M |
|
|
LPRO
1722
DELISTED
Open Lending Corp
LPRO
| $6.1M | ﹤0.01% |
903,025
| – | – |
|
|
GES
1723
DELISTED
Guess Inc
GES
| $6.09M | ﹤0.01% |
294,225
| – | – |
|
1724
Kennametal
KMT
$2.24B
| $6.07M | ﹤0.01% |
252,125
+137,286
| +120% | +$3.4M |
|
1725
Vaxcyte
PCVX
$8.86B
| $6.04M | ﹤0.01% |
+125,879
| New | +$4.94M |
|
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.