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 | |
|---|---|---|---|---|---|---|
1876
Sterling Infrastructure
STRL
$18.8B
| $2.81M | ﹤0.01% |
74,100
| – | – |
|
1877
Global Industrial
GIC
$1.39B
| $2.79M | ﹤0.01% |
+103,900
| New | +$2.74M |
|
1878
Allegiant Air
ALGT
$2.78B
| $2.79M | ﹤0.01% |
30,291
| – | – |
|
1879
TFS Financial
TFSL
$5.17B
| $2.78M | ﹤0.01% |
219,816
-49,313
| -18% | -$688K |
|
1880
DMC Global
BOOM
$149M
| $2.73M | ﹤0.01% |
124,300
| – | – |
|
1881
Embecta
EMBC
$221M
| $2.71M | ﹤0.01% |
96,301
-304,106
| -76% | -$8.63M |
|
|
MRC
1882
DELISTED
MRC Global
MRC
| $2.7M | ﹤0.01% |
278,000
-55,100
| -17% | -$626K |
|
1883
Amylyx Pharmaceuticals
AMLX
$2.24B
| $2.7M | ﹤0.01% |
91,900
+10,700
| +13% | +$372K |
|
1884
monday.com
MNDY
$3.97B
| $2.69M | ﹤0.01% |
18,878
-21,556
| -53% | -$2.91M |
|
1885
Forrester Research
FORR
$221M
| $2.69M | ﹤0.01% |
83,200
| – | – |
|
1886
Camping World
CWH
$694M
| $2.68M | ﹤0.01% |
128,652
-47,528
| -27% | -$1.11M |
|
1887
Resources Connection
RGP
$153M
| $2.68M | ﹤0.01% |
156,900
-53,984
| -26% | -$948K |
|
|
ALX
1888
Alexander's
ALX
$1.34B
| $2.67M | ﹤0.01% |
13,771
| – | – |
|
1889
Acco Brands
ACCO
$399M
| $2.64M | ﹤0.01% |
496,497
-362,660
| -42% | -$2.07M |
|
|
SLCA
1890
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| $2.63M | ﹤0.01% |
220,000
-113,500
| -34% | -$1.35M |
|
1891
Ocular Therapeutix
OCUL
$1.84B
| $2.6M | ﹤0.01% |
+494,300
| New | +$2.35M |
|
1892
Pulmonx
LUNG
$89.5M
| $2.53M | ﹤0.01% |
226,100
-148,000
| -40% | -$1.46M |
|
1893
Replimune Group
REPL
$1B
| $2.5M | ﹤0.01% |
141,700
| – | – |
|
1894
Abercrombie & Fitch
ANF
$4.84B
| $2.49M | ﹤0.01% |
89,699
-357,536
| -80% | -$9.95M |
|
1895
Clear Channel Outdoor Holdings
CCO
$1.23B
| $2.47M | ﹤0.01% |
2,060,700
-411,600
| -17% | -$607K |
|
|
ESMT
1896
DELISTED
EngageSmart, Inc.
ESMT
| $2.47M | ﹤0.01% |
128,100
+57,300
| +81% | +$1.11M |
|
|
NXRT
1897
NexPoint Residential Trust
NXRT
$660M
| $2.45M | ﹤0.01% |
56,200
-1,400
| -2% | -$64.5K |
|
|
ZEUS
1898
DELISTED
Olympic Steel
ZEUS
| $2.45M | ﹤0.01% |
46,900
-64,428
| -58% | -$2.98M |
|
1899
Janus International
JBI
$739M
| $2.43M | ﹤0.01% |
+246,400
| New | +$2.57M |
|
1900
Star Holdings Shares of Beneficial Interest
STHO
$112M
| $2.42M | ﹤0.01% |
+139,405
| New | +$2.71M |
|
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.