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 | |
|---|---|---|---|---|---|---|
|
BRSP
1776
BrightSpire Capital
BRSP
$561M
| $5.13M | ﹤0.01% |
823,069
| – | – |
|
|
RAPT
1777
DELISTED
RAPT Therapeutics
RAPT
| $5.11M | ﹤0.01% |
+32,275
| New | +$5.17M |
|
|
ARR
1778
Armour Residential REIT
ARR
$2.19B
| $5.11M | ﹤0.01% |
181,475
| – | – |
|
1779
Community Health Systems
CYH
$412M
| $5.03M | ﹤0.01% |
+1,163,400
| New | +$3.58M |
|
1780
Emergent Biosolutions
EBS
$319M
| $5.02M | ﹤0.01% |
424,709
| – | – |
|
1781
Super Micro Computer
SMCI
$24.1B
| $5.01M | ﹤0.01% |
609,910
-262,230
| -30% | -$2M |
|
|
PWSC
1782
DELISTED
PowerSchool Holdings, Inc.
PWSC
| $4.97M | ﹤0.01% |
215,393
+31,047
| +17% | +$608K |
|
|
VSTO
1783
DELISTED
Vista Outdoor Inc.
VSTO
| $4.97M | ﹤0.01% |
+203,833
| New | +$5.36M |
|
|
PTVE
1784
DELISTED
Pactiv Evergreen Inc. Common stock
PTVE
| $4.95M | ﹤0.01% |
436,014
+335,114
| +332% | +$3.66M |
|
1785
monday.com
MNDY
$4.06B
| $4.93M | ﹤0.01% |
40,434
-24,129
| -37% | -$2.51M |
|
1786
Hudbay
HBM
$11.4B
| $4.93M | ﹤0.01% |
975,024
+922,195
| +1,746% | +$4.44M |
|
1787
JetBlue
JBLU
$1.65B
| $4.92M | ﹤0.01% |
758,767
-363,400
| -32% | -$2.66M |
|
|
SCS
1788
DELISTED
Steelcase
SCS
| $4.92M | ﹤0.01% |
695,398
| – | – |
|
1789
Boot Barn
BOOT
$4.33B
| $4.85M | ﹤0.01% |
77,601
+15,443
| +25% | +$926K |
|
|
PLYA
1790
DELISTED
Playa Hotels & Resorts
PLYA
| $4.85M | ﹤0.01% |
+742,500
| New | +$4.41M |
|
1791
Tower Semiconductor
TSEM
$21.6B
| $4.83M | ﹤0.01% |
110,935
+22,479
| +25% | +$977K |
|
1792
Acco Brands
ACCO
$391M
| $4.8M | ﹤0.01% |
859,157
| – | – |
|
1793
Alpha Metallurgical Resources
AMR
$2.51B
| $4.78M | ﹤0.01% |
32,661
-9,000
| -22% | -$1.42M |
|
|
TBI
1794
Trueblue
TBI
$266M
| $4.75M | ﹤0.01% |
242,345
+166,400
| +219% | +$3.37M |
|
1795
Playtika
PLTK
$881M
| $4.71M | ﹤0.01% |
553,437
-446,564
| -45% | -$4.14M |
|
1796
C3.ai
AI
$1.8B
| $4.68M | ﹤0.01% |
418,176
| – | – |
|
1797
Zentalis Pharmaceuticals
ZNTL
$332M
| $4.67M | ﹤0.01% |
231,988
| – | – |
|
1798
Select Water Solutions
WTTR
$2.66B
| $4.67M | ﹤0.01% |
+505,600
| New | +$4.26M |
|
|
FOCS
1799
DELISTED
Focus Financial Partners Inc. Class A
FOCS
| $4.63M | ﹤0.01% |
124,146
-87,300
| -41% | -$3.11M |
|
1800
Sprout Social
SPT
$705M
| $4.61M | ﹤0.01% |
81,575
-101,953
| -56% | -$5.98M |
|
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.