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 | |
|---|---|---|---|---|---|---|
|
BRKL
1701
DELISTED
Brookline Bancorp
BRKL
| $6.31M | ﹤0.01% |
600,784
| – | – |
|
1702
Employers Holdings
EIG
$889M
| $6.28M | ﹤0.01% |
150,543
-65,800
| -30% | -$2.82M |
|
|
TWOU
1703
DELISTED
2U Inc
TWOU
| $6.27M | ﹤0.01% |
30,498
-18,490
| -38% | -$4.62M |
|
|
EHAB
1704
DELISTED
Enhabit
EHAB
| $6.25M | ﹤0.01% |
448,971
| – | – |
|
1705
TTEC Holdings
TTEC
$124M
| $6.23M | ﹤0.01% |
167,262
| – | – |
|
1706
JFrog
FROG
$10.8B
| $6.16M | ﹤0.01% |
312,659
| – | – |
|
1707
John Wiley & Sons Class A
WLY
$2.66B
| $6.05M | ﹤0.01% |
156,067
-31,521
| -17% | -$1.34M |
|
1708
SL Green Realty
SLG
$3.99B
| $6M | ﹤0.01% |
254,908
-469,200
| -65% | -$15.8M |
|
1709
Pool Corp
POOL
$7.5B
| $5.97M | ﹤0.01% |
17,448
-6,951
| -28% | -$2.47M |
|
1710
Frontdoor
FTDR
$6.26B
| $5.91M | ﹤0.01% |
212,155
+43,314
| +26% | +$1.14M |
|
|
TSE
1711
DELISTED
Trinseo
TSE
| $5.88M | ﹤0.01% |
281,876
-40,024
| -12% | -$979K |
|
|
DADA
1712
DELISTED
Dada Nexus
DADA
| $5.86M | ﹤0.01% |
691,798
+382,848
| +124% | +$4.17M |
|
1713
Cimpress
CMPR
$2.31B
| $5.85M | ﹤0.01% |
133,466
| – | – |
|
1714
Zentalis Pharmaceuticals
ZNTL
$302M
| $5.81M | ﹤0.01% |
337,642
+105,654
| +46% | +$2.14M |
|
1715
Kennametal
KMT
$2.52B
| $5.73M | ﹤0.01% |
207,793
-44,332
| -18% | -$1.22M |
|
1716
Sinclair Inc
SBGI
$1.03B
| $5.72M | ﹤0.01% |
333,328
+92,094
| +38% | +$1.6M |
|
|
BRSP
1717
BrightSpire Capital
BRSP
$648M
| $5.71M | ﹤0.01% |
967,569
+144,500
| +18% | +$991K |
|
1718
Community Health Systems
CYH
$423M
| $5.7M | ﹤0.01% |
1,163,400
| – | – |
|
|
OLPX
1719
DELISTED
Olaplex Holdings
OLPX
| $5.7M | ﹤0.01% |
1,333,742
-2,275,929
| -63% | -$12.1M |
|
1720
Playtika
PLTK
$1.12B
| $5.67M | ﹤0.01% |
503,213
-50,224
| -9% | -$504K |
|
|
VSTO
1721
DELISTED
Vista Outdoor Inc.
VSTO
| $5.65M | ﹤0.01% |
203,833
| – | – |
|
|
LGF.B
1722
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $5.62M | ﹤0.01% |
541,865
| – | – |
|
1723
ArcBest
ARCB
$3.08B
| $5.6M | ﹤0.01% |
60,578
| – | – |
|
|
TWKS
1724
DELISTED
Thoughtworks Holding, Inc. Common Stock
TWKS
| $5.55M | ﹤0.01% |
754,665
+146,270
| +24% | +$1.36M |
|
1725
JetBlue
JBLU
$2.29B
| $5.52M | ﹤0.01% |
758,767
| – | – |
|
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.