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
|
+$1.04B |
| 2 |
Amazon
AMZN
|
+$902M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 4 |
Apple
AAPL
|
+$767M |
| 5 |
NVIDIA
NVDA
|
+$684M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shell
SHEL
|
+$444M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$415M |
| 3 |
Qualcomm
QCOM
|
+$385M |
| 4 |
Synopsys
SNPS
|
+$314M |
| 5 |
Accenture
ACN
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.89% |
| 2 | Financials | 13.39% |
| 3 | Healthcare | 13.16% |
| 4 | Consumer Discretionary | 11.33% |
| 5 | Communication Services | 8.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1701
Adaptive Biotechnologies
ADPT
$3.91B
| $5.41M | ﹤0.01% |
805,972
| – | – |
|
1702
Rogers Communications
RCI
$18.3B
| $5.38M | ﹤0.01% |
117,860
+44,031
| +60% | +$2.06M |
|
|
SCS
1703
DELISTED
Steelcase
SCS
| $5.36M | ﹤0.01% |
695,398
-288,300
| -29% | -$2.18M |
|
1704
Stem
STEM
$52M
| $5.36M | ﹤0.01% |
46,866
+6,923
| +17% | +$687K |
|
1705
Xerox
XRX
$412M
| $5.35M | ﹤0.01% |
359,554
-141,802
| -28% | -$2.08M |
|
1706
RxSight
RXST
$260M
| $5.34M | ﹤0.01% |
+185,500
| New | +$4.13M |
|
1707
Innoviva
INVA
$1.51B
| $5.29M | ﹤0.01% |
415,889
| – | – |
|
1708
Triumph Financial Inc
TFIN
$1.87B
| $5.28M | ﹤0.01% |
86,932
| – | – |
|
|
BRKL
1709
DELISTED
Brookline Bancorp
BRKL
| $5.25M | ﹤0.01% |
600,784
| – | – |
|
1710
Veracyte
VCYT
$3.71B
| $5.2M | ﹤0.01% |
203,983
-280,300
| -58% | -$6.79M |
|
|
MTTR
1711
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
| $5.14M | ﹤0.01% |
1,630,806
| – | – |
|
1712
Neurocrine Biosciences
NBIX
$16.4B
| $5.12M | ﹤0.01% |
54,327
-741,083
| -93% | -$72.4M |
|
|
UHT
1713
Universal Health Realty Income Trust
UHT
$589M
| $5.11M | ﹤0.01% |
107,458
| – | – |
|
1714
Copa Holdings
CPA
$6.15B
| $5.07M | ﹤0.01% |
45,812
+43,467
| +1,854% | +$4.36M |
|
1715
Asana
ASAN
$2.05B
| $5.02M | ﹤0.01% |
227,841
-827,334
| -78% | -$16.6M |
|
|
DCPH
1716
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $4.96M | ﹤0.01% |
352,068
+65,000
| +23% | +$930K |
|
1717
Pulmonx
LUNG
$83.6M
| $4.95M | ﹤0.01% |
377,300
+151,200
| +67% | +$1.85M |
|
1718
Fluence Energy
FLNC
$1.89B
| $4.95M | ﹤0.01% |
185,643
| – | – |
|
1719
B&G Foods
BGS
$286M
| $4.94M | ﹤0.01% |
355,109
| – | – |
|
|
DESP
1720
DELISTED
Despegar.com
DESP
| $4.93M | ﹤0.01% |
700,000
| – | – |
|
|
EHAB
1721
DELISTED
Enhabit
EHAB
| $4.93M | ﹤0.01% |
428,529
-20,442
| -5% | -$255K |
|
|
LKFT
1722
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.71B
| $4.88M | ﹤0.01% |
120,000
| – | – |
|
1723
Ardagh Metal Packaging
AMBP
$3.04B
| $4.87M | ﹤0.01% |
1,295,791
| – | – |
|
1724
1st Source
SRCE
$2.17B
| $4.87M | ﹤0.01% |
116,087
| – | – |
|
1725
Fulgent Genetics
FLGT
$526M
| $4.84M | ﹤0.01% |
130,810
+25,100
| +24% | +$875K |
|
Similar funds
Norges Bank's Q2 2023 Portfolio in Review
As of Q2 2023, Norges Bank held 2,145 positions worth $507B, up 11% from $457B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Norges Bank's Q2 2023 filing shows 58 new, 905 increased, 790 reduced and 138 closed positions. Its largest new stake was Kenvue: 7,326,131 shares worth $194M. The largest sale was Shell, an estimated $444M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 26% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2023 buy was Kenvue: 7,326,131 shares worth $194M.
- Norges Bank added most to Microsoft in Q2 2023, an estimated $1.04B increase.
- Norges Bank's biggest Q2 2023 reduction was Shell, cutting an estimated $444M.
- Norges Bank fully exited Evoqua Water Technologies Corp. Common Stock in Q2 2023, selling an estimated $175M.
- Norges Bank's ten largest holdings make up 27% of its $507B portfolio in Q2 2023.
- Norges Bank opened 58 new positions and closed 138 in Q2 2023.
- Norges Bank's portfolio value rose 11% quarter-over-quarter to $507B.
Based on Norges Bank's 13F filing for Q2 2023, filed 14 Aug 2023.