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 | |
|---|---|---|---|---|---|---|
151
Essex Property Trust
ESS
$19B
| $535M | 0.14% |
2,046,993
| – | – |
|
152
AutoZone
AZO
$51.6B
| $522M | 0.13% |
242,863
+36,776
| +18% | +$75.6M |
|
153
Regeneron Pharmaceuticals
REGN
$72.9B
| $522M | 0.13% |
882,310
-105,326
| -11% | -$68.5M |
|
154
Intercontinental Exchange
ICE
$87.7B
| $519M | 0.13% |
5,517,877
+286,805
| +5% | +$30.7M |
|
155
Centene
CNC
$30.8B
| $519M | 0.13% |
6,129,442
-236,607
| -4% | -$19.7M |
|
156
Vornado Realty Trust
VNO
$7.68B
| $517M | 0.13% |
18,082,373
| – | – |
|
157
McKesson
MCK
$104B
| $502M | 0.13% |
1,539,290
-83,778
| -5% | -$26.8M |
|
158
Uber
UBER
$145B
| $501M | 0.13% |
24,468,359
+8,176,058
| +50% | +$217M |
|
159
Chubb
CB
$141B
| $501M | 0.13% |
2,546,425
-261,210
| -9% | -$53.8M |
|
160
Digital Realty Trust
DLR
$70.1B
| $500M | 0.13% |
3,850,128
+919,098
| +31% | +$127M |
|
161
Mid-America Apartment Communities
MAA
$16B
| $500M | 0.13% |
2,860,892
| – | – |
|
162
Illinois Tool Works
ITW
$83.7B
| $500M | 0.13% |
2,741,469
-299,321
| -10% | -$59.9M |
|
163
KLA
KLAC
$230B
| $494M | 0.13% |
15,489,730
+1,036,500
| +7% | +$34.9M |
|
164
Amphenol
APH
$187B
| $488M | 0.13% |
15,175,130
+3,658,976
| +32% | +$127M |
|
165
General Dynamics
GD
$104B
| $486M | 0.13% |
2,196,920
-119,687
| -5% | -$27.5M |
|
166
Moderna
MRNA
$21.9B
| $481M | 0.12% |
3,369,189
+327,009
| +11% | +$46.7M |
|
167
Roper Technologies
ROP
$40.2B
| $478M | 0.12% |
1,212,406
+276,158
| +29% | +$120M |
|
168
Kilroy Realty
KRC
$4.6B
| $474M | 0.12% |
9,057,009
| – | – |
|
169
FedEx
FDX
$73.4B
| $469M | 0.12% |
2,067,217
-164,961
| -7% | -$35.2M |
|
170
Fidelity National Information Services
FIS
$24.1B
| $465M | 0.12% |
5,075,761
-162,113
| -3% | -$16.1M |
|
171
Parker-Hannifin
PH
$120B
| $465M | 0.12% |
1,888,731
-159,362
| -8% | -$42.6M |
|
172
Boston Scientific
BSX
$68.5B
| $462M | 0.12% |
12,399,357
-971,816
| -7% | -$39.6M |
|
173
Canadian Imperial Bank of Commerce
CM
$107B
| $460M | 0.12% |
9,466,478
+188
| +0% | +$10.2K |
|
174
Valero Energy
VLO
$90.2B
| $455M | 0.12% |
4,284,099
+159,383
| +4% | +$18.9M |
|
175
Norfolk Southern
NSC
$75.6B
| $454M | 0.12% |
1,996,489
-77,048
| -4% | -$18.9M |
|
Similar funds
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.