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 | |
|---|---|---|---|---|---|---|
1826
Xponential Fitness
XPOF
$278M
| $3.85M | ﹤0.01% |
+126,600
| New | +$3.35M |
|
1827
Allogene Therapeutics
ALLO
$635M
| $3.8M | ﹤0.01% |
769,120
-114,827
| -13% | -$736K |
|
|
AVTA
1828
DELISTED
Avantax, Inc. Common Stock
AVTA
| $3.8M | ﹤0.01% |
144,275
-260,665
| -64% | -$7.08M |
|
1829
Fluence Energy
FLNC
$2.08B
| $3.76M | ﹤0.01% |
185,643
| – | – |
|
|
NVEI
1830
DELISTED
Nuvei Corporation Subordinate Voting Shares
NVEI
| $3.73M | ﹤0.01% |
85,730
| – | – |
|
|
KE
1831
Kimball Electronics
KE
$619M
| $3.71M | ﹤0.01% |
+154,100
| New | +$3.76M |
|
1832
Kearny Financial
KRNY
$610M
| $3.68M | ﹤0.01% |
453,097
| – | – |
|
1833
CareDx
CDNA
$2.48B
| $3.66M | ﹤0.01% |
400,142
| – | – |
|
1834
Beazer Homes USA
BZH
$901M
| $3.57M | ﹤0.01% |
224,600
-41,900
| -16% | -$621K |
|
1835
Alector
ALEC
$168M
| $3.55M | ﹤0.01% |
572,904
| – | – |
|
|
HCCI
1836
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
| $3.54M | ﹤0.01% |
99,500
-7,100
| -7% | -$256K |
|
1837
Atara Biotherapeutics
ATRA
$77M
| $3.53M | ﹤0.01% |
48,649
+13,903
| +40% | +$1.35M |
|
|
PTVE
1838
DELISTED
Pactiv Evergreen Inc. Common stock
PTVE
| $3.49M | ﹤0.01% |
436,014
| – | – |
|
1839
Kulicke & Soffa
KLIC
$4.72B
| $3.47M | ﹤0.01% |
65,851
-99,672
| -60% | -$5.18M |
|
|
CHCT
1840
Community Healthcare Trust
CHCT
$522M
| $3.46M | ﹤0.01% |
94,500
+34,000
| +56% | +$1.33M |
|
|
HSII
1841
DELISTED
Heidrick & Struggles
HSII
| $3.45M | ﹤0.01% |
113,800
+16,200
| +17% | +$496K |
|
1842
Rogers Communications
RCI
$18.4B
| $3.42M | ﹤0.01% |
73,829
-42,027
| -36% | -$1.99M |
|
|
FINV
1843
FinVolution Group
FINV
$1.17B
| $3.4M | ﹤0.01% |
816,352
| – | – |
|
1844
Koppers
KOP
$976M
| $3.36M | ﹤0.01% |
+96,000
| New | +$3.19M |
|
1845
Fulgent Genetics
FLGT
$500M
| $3.3M | ﹤0.01% |
105,710
+33,823
| +47% | +$1.09M |
|
|
SWI
1846
DELISTED
SolarWinds Corporation Common Stock
SWI
| $3.3M | ﹤0.01% |
383,294
-57,858
| -13% | -$539K |
|
1847
Marcus Corp
MCS
$946M
| $3.3M | ﹤0.01% |
+206,000
| New | +$3.16M |
|
1848
Hackett Group
HCKT
$285M
| $3.28M | ﹤0.01% |
177,400
-95,300
| -35% | -$1.92M |
|
|
VTYX
1849
DELISTED
Ventyx Biosciences
VTYX
| $3.26M | ﹤0.01% |
+97,200
| New | +$3.78M |
|
|
BASE
1850
DELISTED
Couchbase
BASE
| $3.22M | ﹤0.01% |
229,300
-111,200
| -33% | -$1.64M |
|
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.