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 | |
|---|---|---|---|---|---|---|
|
SWI
1826
DELISTED
SolarWinds Corporation Common Stock
SWI
| $4.13M | ﹤0.01% |
441,152
| – | – |
|
1827
Axcelis
ACLS
$3.5B
| $4.08M | ﹤0.01% |
51,436
-61,080
| -54% | -$4.3M |
|
|
SI
1828
DELISTED
Silvergate Capital Corporation
SI
| $4.07M | ﹤0.01% |
233,964
+201,630
| +624% | +$8M |
|
|
FINV
1829
FinVolution Group
FINV
$800M
| $4.05M | ﹤0.01% |
816,352
| – | – |
|
1830
Opko Health
OPK
$1.16B
| $4.04M | ﹤0.01% |
3,233,385
| – | – |
|
1831
Ambev
ABEV
$46.6B
| $4.03M | ﹤0.01% |
+1,481,700
| New | +$4.32M |
|
|
TGI
1832
DELISTED
Triumph Group
TGI
| $4.01M | ﹤0.01% |
381,100
+62,200
| +20% | +$643K |
|
|
MCW
1833
DELISTED
Mister Car Wash
MCW
| $4M | ﹤0.01% |
433,339
+266,672
| +160% | +$2.47M |
|
1834
B&G Foods
BGS
$257M
| $3.96M | ﹤0.01% |
355,109
+26,964
| +8% | +$375K |
|
|
VNET
1835
VNET Group
VNET
$1.75B
| $3.94M | ﹤0.01% |
695,685
| – | – |
|
1836
Camping World
CWH
$386M
| $3.93M | ﹤0.01% |
176,180
-25,417
| -13% | -$659K |
|
1837
Viridian Therapeutics
VRDN
$2.52B
| $3.92M | ﹤0.01% |
+134,200
| New | +$3.09M |
|
|
RFP
1838
DELISTED
Resolute Forest Products Inc.
RFP
| $3.92M | ﹤0.01% |
181,500
+1,000
| +0.6% | +$20.9K |
|
1839
American Well
AMWL
$221M
| $3.9M | ﹤0.01% |
68,944
+52,240
| +313% | +$3.76M |
|
|
MTTR
1840
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
| $3.9M | ﹤0.01% |
+1,392,595
| New | +$4.45M |
|
1841
Payoneer
PAYO
$2.41B
| $3.89M | ﹤0.01% |
+711,691
| New | +$4.47M |
|
1842
Carvana
CVNA
$51B
| $3.88M | ﹤0.01% |
4,097,240
+309,695
| +8% | +$654K |
|
1843
Artisan Partners
APAM
$2.69B
| $3.88M | ﹤0.01% |
130,714
| – | – |
|
1844
TFS Financial
TFSL
$4.77B
| $3.88M | ﹤0.01% |
269,129
+61,822
| +30% | +$845K |
|
1845
Resources Connection
RGP
$137M
| $3.88M | ﹤0.01% |
210,884
+24,200
| +13% | +$445K |
|
|
DISH
1846
DELISTED
DISH Network Corp.
DISH
| $3.86M | ﹤0.01% |
274,924
+213,574
| +348% | +$3.15M |
|
|
MRC
1847
DELISTED
MRC Global
MRC
| $3.86M | ﹤0.01% |
+333,100
| New | +$3.51M |
|
1848
Replimune Group
REPL
$1.24B
| $3.85M | ﹤0.01% |
141,700
+50,400
| +55% | +$1.05M |
|
1849
Nektar Therapeutics
NKTR
$2.34B
| $3.83M | ﹤0.01% |
113,123
| – | – |
|
|
RDFN
1850
DELISTED
Redfin
RDFN
| $3.83M | ﹤0.01% |
903,688
| – | – |
|
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.