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 | |
|---|---|---|---|---|---|---|
1726
B&G Foods
BGS
$286M
| $5.51M | ﹤0.01% |
355,109
| – | – |
|
1727
Century Communities
CCS
$2.03B
| $5.51M | ﹤0.01% |
86,133
+24,900
| +41% | +$1.48M |
|
|
GES
1728
DELISTED
Guess Inc
GES
| $5.48M | ﹤0.01% |
281,763
-12,462
| -4% | -$267K |
|
1729
Enlight Renewable Energy
ENLT
$11.5B
| $5.48M | ﹤0.01% |
+325,771
| New | +$5.5M |
|
1730
GSK
GSK
$103B
| $5.44M | ﹤0.01% |
152,999
| – | – |
|
1731
Fate Therapeutics
FATE
$303M
| $5.44M | ﹤0.01% |
954,539
+149,797
| +19% | +$904K |
|
1732
Marten Transport
MRTN
$1.22B
| $5.43M | ﹤0.01% |
259,300
-65,800
| -20% | -$1.4M |
|
1733
Heartland Express
HTLD
$972M
| $5.37M | ﹤0.01% |
337,103
| – | – |
|
1734
Sanmina
SANM
$10.7B
| $5.35M | ﹤0.01% |
87,721
-18,780
| -18% | -$1.12M |
|
|
EB
1735
DELISTED
Eventbrite
EB
| $5.33M | ﹤0.01% |
621,499
-365,500
| -37% | -$3.01M |
|
1736
Viridian Therapeutics
VRDN
$2.33B
| $5.31M | ﹤0.01% |
208,800
+74,600
| +56% | +$2.39M |
|
|
HYZN
1737
DELISTED
Hyzon Motors Inc. Class A Common Stock
HYZN
| $5.3M | ﹤0.01% |
130,000
| – | – |
|
1738
Ardagh Metal Packaging
AMBP
$3.04B
| $5.29M | ﹤0.01% |
1,295,791
+111,838
| +9% | +$549K |
|
|
VMEO
1739
DELISTED
Vimeo
VMEO
| $5.27M | ﹤0.01% |
1,375,051
-778,916
| -36% | -$3.05M |
|
1740
Twist Bioscience
TWST
$7.16B
| $5.26M | ﹤0.01% |
348,481
-56,013
| -14% | -$1.24M |
|
|
RVNC
1741
DELISTED
Revance Therapeutics, Inc.
RVNC
| $5.19M | ﹤0.01% |
161,000
| – | – |
|
|
UHT
1742
Universal Health Realty Income Trust
UHT
$589M
| $5.17M | ﹤0.01% |
107,458
| – | – |
|
|
OPI
1743
DELISTED
Office Properties Income Trust
OPI
| $5.14M | ﹤0.01% |
418,078
-33,031
| -7% | -$507K |
|
1744
TechTarget
TTGT
$321M
| $5.14M | ﹤0.01% |
142,220
+38,100
| +37% | +$1.59M |
|
1745
Regenxbio
RGNX
$672M
| $5.12M | ﹤0.01% |
270,942
-55,676
| -17% | -$1.23M |
|
1746
Hudbay
HBM
$11.5B
| $5.11M | ﹤0.01% |
975,024
| – | – |
|
|
GAP
1747
The Gap Inc
GAP
$7.4B
| $5.11M | ﹤0.01% |
509,385
+42,444
| +9% | +$517K |
|
1748
Compass
COMP
$9.59B
| $5.11M | ﹤0.01% |
1,582,500
+993,100
| +168% | +$3.41M |
|
|
HOUS
1749
DELISTED
Anywhere Real Estate
HOUS
| $5.1M | ﹤0.01% |
966,117
-115,741
| -11% | -$789K |
|
1750
AdaptHealth
AHCO
$884M
| $5.1M | ﹤0.01% |
410,043
-165,251
| -29% | -$3.04M |
|
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.