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 | |
|---|---|---|---|---|---|---|
1751
Allogene Therapeutics
ALLO
$615M
| $5.56M | ﹤0.01% |
883,947
-39,062
| -4% | -$362K |
|
1752
Hackett Group
HCKT
$273M
| $5.55M | ﹤0.01% |
272,700
+175,600
| +181% | +$3.71M |
|
1753
Kymera Therapeutics
KYMR
$9.53B
| $5.54M | ﹤0.01% |
222,017
| – | – |
|
|
CVGW
1754
DELISTED
Calavo Growers
CVGW
| $5.54M | ﹤0.01% |
188,337
+59,700
| +46% | +$2M |
|
|
CERE
1755
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
| $5.5M | ﹤0.01% |
174,538
+100,695
| +136% | +$2.84M |
|
1756
Rogers Communications
RCI
$19.6B
| $5.42M | ﹤0.01% |
115,856
-527,320
| -82% | -$22.5M |
|
|
INN
1757
Summit Hotel Properties
INN
$603M
| $5.42M | ﹤0.01% |
750,640
+92,300
| +14% | +$723K |
|
1758
First Majestic Silver
AG
$9.27B
| $5.41M | ﹤0.01% |
649,489
-1,298,800
| -67% | -$11.3M |
|
1759
Amneal Pharmaceuticals
AMRX
$6B
| $5.4M | ﹤0.01% |
+2,714,400
| New | +$6.08M |
|
1760
AngioDynamics
ANGO
$631M
| $5.39M | ﹤0.01% |
+391,100
| New | +$5.44M |
|
|
AYX
1761
DELISTED
Alteryx Inc
AYX
| $5.38M | ﹤0.01% |
106,140
+91,740
| +637% | +$4.38M |
|
1762
GSK
GSK
$100B
| $5.38M | ﹤0.01% |
152,999
-60,001
| -28% | -$2M |
|
|
LKFT
1763
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.76B
| $5.33M | ﹤0.01% |
120,000
| – | – |
|
1764
Matsons
MATX
$6.88B
| $5.29M | ﹤0.01% |
84,642
-57,417
| -40% | -$3.79M |
|
1765
Alector
ALEC
$239M
| $5.29M | ﹤0.01% |
572,904
-92,400
| -14% | -$806K |
|
1766
ScottsMiracle-Gro
SMG
$3.26B
| $5.29M | ﹤0.01% |
108,813
+24,672
| +29% | +$1.24M |
|
|
GAP
1767
The Gap Inc
GAP
$7.35B
| $5.27M | ﹤0.01% |
466,941
+114,704
| +33% | +$1.37M |
|
1768
Washington Trust Bancorp
WASH
$763M
| $5.24M | ﹤0.01% |
111,120
-22,200
| -17% | -$1.07M |
|
|
QVCGA
1769
DELISTED
QVC Group Inc Series A
QVCGA
| $5.23M | ﹤0.01% |
64,168
+7,730
| +14% | +$788K |
|
|
UDMY
1770
DELISTED
Udemy
UDMY
| $5.21M | ﹤0.01% |
494,114
| – | – |
|
|
SNBR
1771
DELISTED
Sleep Number
SNBR
| $5.2M | ﹤0.01% |
199,964
+28,300
| +16% | +$860K |
|
1772
Krispy Kreme
DNUT
$555M
| $5.18M | ﹤0.01% |
501,606
| – | – |
|
1773
Heartland Express
HTLD
$954M
| $5.17M | ﹤0.01% |
337,103
| – | – |
|
|
SILK
1774
DELISTED
Silk Road Medical, Inc. Common Stock
SILK
| $5.15M | ﹤0.01% |
+97,400
| New | +$4.74M |
|
|
UHT
1775
Universal Health Realty Income Trust
UHT
$562M
| $5.13M | ﹤0.01% |
107,458
| – | – |
|
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.