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 | |
|---|---|---|---|---|---|---|
1876
U-Haul Holding Co
UHAL
$12.3B
| $3.49M | ﹤0.01% |
58,019
-970,011
| -94% | -$55.8M |
|
1877
Federated Hermes
FHI
$4.4B
| $3.49M | ﹤0.01% |
96,000
+41,599
| +76% | +$1.46M |
|
|
HCCI
1878
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
| $3.46M | ﹤0.01% |
106,600
| – | – |
|
|
TSP
1879
DELISTED
TuSimple Holdings Inc. Class A Common Stock
TSP
| $3.46M | ﹤0.01% |
2,109,591
+1,058,300
| +101% | +$3.77M |
|
|
CTEV
1880
Claritev Corp
CTEV
$618M
| $3.45M | ﹤0.01% |
75,056
| – | – |
|
1881
Beazer Homes USA
BZH
$887M
| $3.4M | ﹤0.01% |
+266,500
| New | +$3.24M |
|
1882
N-able
NABL
$788M
| $3.4M | ﹤0.01% |
330,504
| – | – |
|
1883
Universal Logistics Holdings
ULH
$498M
| $3.36M | ﹤0.01% |
100,500
+49,400
| +97% | +$1.73M |
|
1884
Destination XL Group
DXLG
$35.8M
| $3.35M | ﹤0.01% |
495,600
+260,400
| +111% | +$1.67M |
|
1885
Weatherford International
WFRD
$6.04B
| $3.31M | ﹤0.01% |
+64,963
| New | +$2.68M |
|
1886
Clear Secure
YOU
$4.35B
| $3.29M | ﹤0.01% |
119,888
+107,372
| +858% | +$2.96M |
|
1887
Editas Medicine
EDIT
$421M
| $3.25M | ﹤0.01% |
366,338
| – | – |
|
1888
CRH
CRH
$59.2B
| $3.2M | ﹤0.01% |
80,400
-72,400
| -47% | -$2.71M |
|
1889
Adtran
ADTN
$574M
| $3.2M | ﹤0.01% |
170,751
+101,950
| +148% | +$2.05M |
|
1890
Liberty Latin America Class A
LILA
$1.74B
| $3.19M | ﹤0.01% |
624,281
| – | – |
|
|
EVRI
1891
DELISTED
Everi Holdings
EVRI
| $3.19M | ﹤0.01% |
+222,100
| New | +$3.69M |
|
1892
Fluence Energy
FLNC
$1.35B
| $3.18M | ﹤0.01% |
185,643
| – | – |
|
1893
StoneCo
STNE
$2.29B
| $3.16M | ﹤0.01% |
335,015
| – | – |
|
1894
Pulmonx
LUNG
$84.6M
| $3.15M | ﹤0.01% |
374,100
+148,000
| +65% | +$1.41M |
|
1895
e.l.f. Beauty
ELF
$5.71B
| $3.13M | ﹤0.01% |
+56,635
| New | +$2.77M |
|
|
NSTG
1896
DELISTED
NanoString Technologies, Inc.
NSTG
| $3.12M | ﹤0.01% |
392,073
+188,347
| +92% | +$1.63M |
|
1897
Castle Biosciences
CSTL
$1.02B
| $3.09M | ﹤0.01% |
131,200
-5,400
| -4% | -$125K |
|
1898
Photronics
PLAB
$1.6B
| $3.08M | ﹤0.01% |
+183,200
| New | +$3.12M |
|
1899
Franklin Covey
FC
$206M
| $3.08M | ﹤0.01% |
65,900
+37,400
| +131% | +$1.82M |
|
1900
Republic Bancorp
RBCAA
$1.89B
| $3.08M | ﹤0.01% |
75,296
| – | – |
|
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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.