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
|
+$1.04B |
| 2 |
Amazon
AMZN
|
+$902M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 4 |
Apple
AAPL
|
+$767M |
| 5 |
NVIDIA
NVDA
|
+$684M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shell
SHEL
|
+$444M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$415M |
| 3 |
Qualcomm
QCOM
|
+$385M |
| 4 |
Synopsys
SNPS
|
+$314M |
| 5 |
Accenture
ACN
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.89% |
| 2 | Financials | 13.39% |
| 3 | Healthcare | 13.16% |
| 4 | Consumer Discretionary | 11.33% |
| 5 | Communication Services | 8.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1901
BlueLinx
BXC
$416M
| $1.41M | ﹤0.01% |
+15,000
| New | +$1.2M |
|
1902
IonQ
IONQ
$13.4B
| $1.4M | ﹤0.01% |
103,478
-573,017
| -85% | -$4.76M |
|
|
BNT
1903
Brookfield Wealth Solutions
BNT
$11.7B
| $1.38M | ﹤0.01% |
61,118
| – | – |
|
1904
Fate Therapeutics
FATE
$293M
| $1.37M | ﹤0.01% |
287,672
-666,867
| -70% | -$3.68M |
|
1905
e.l.f. Beauty
ELF
$4.85B
| $1.37M | ﹤0.01% |
+11,981
| New | +$1.15M |
|
|
OSG
1906
Octave Specialty Group
OSG
$250M
| $1.33M | ﹤0.01% |
93,400
-90,600
| -49% | -$1.33M |
|
|
NXGN
1907
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
| $1.29M | ﹤0.01% |
79,593
| – | – |
|
1908
Destination XL Group
DXLG
$29.3M
| $1.28M | ﹤0.01% |
260,400
| – | – |
|
1909
Inogen
INGN
$174M
| $1.27M | ﹤0.01% |
109,949
| – | – |
|
1910
Vertex
VERX
$2.04B
| $1.26M | ﹤0.01% |
64,865
+24,200
| +60% | +$511K |
|
|
NXRT
1911
NexPoint Residential Trust
NXRT
$677M
| $1.23M | ﹤0.01% |
27,000
-29,200
| -52% | -$1.26M |
|
|
VRTV
1912
DELISTED
VERITIV CORPORATION
VRTV
| $1.2M | ﹤0.01% |
9,546
-8,206
| -46% | -$960K |
|
1913
Evolus
EOLS
$396M
| $1.2M | ﹤0.01% |
164,800
| – | – |
|
|
SPNS
1914
DELISTED
Sapiens International
SPNS
| $1.2M | ﹤0.01% |
+45,387
| New | +$1.07M |
|
1915
Safety Insurance
SAFT
$1.52B
| $1.18M | ﹤0.01% |
+16,401
| New | +$1.2M |
|
1916
Pitney Bowes
PBI
$2.46B
| $1.17M | ﹤0.01% |
331,000
| – | – |
|
|
AGS
1917
DELISTED
PlayAGS
AGS
| $1.16M | ﹤0.01% |
+205,600
| New | +$1.2M |
|
1918
PennyMac Financial
PFSI
$3.94B
| $1.16M | ﹤0.01% |
16,467
| – | – |
|
|
NOAH
1919
Noah Holdings
NOAH
$583M
| $1.14M | ﹤0.01% |
80,804
| – | – |
|
1920
Ooma
OOMA
$589M
| $1.14M | ﹤0.01% |
75,900
| – | – |
|
1921
Liberty Global Class C
LBTYK
$3.49B
| $1.13M | ﹤0.01% |
63,618
-12,609
| -17% | -$235K |
|
1922
Atara Biotherapeutics
ATRA
$73.6M
| $1.12M | ﹤0.01% |
27,940
-20,709
| -43% | -$1.17M |
|
1923
Aurinia Pharmaceuticals
AUPH
$1.93B
| $1.1M | ﹤0.01% |
114,045
| – | – |
|
1924
Roivant Sciences
ROIV
$24.8B
| $1.1M | ﹤0.01% |
+108,932
| New | +$974K |
|
1925
Travere Therapeutics
TVTX
$5.33B
| $1.09M | ﹤0.01% |
71,000
| – | – |
|
Similar funds
Norges Bank's Q2 2023 Portfolio in Review
As of Q2 2023, Norges Bank held 2,145 positions worth $507B, up 11% from $457B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Norges Bank's Q2 2023 filing shows 58 new, 905 increased, 790 reduced and 138 closed positions. Its largest new stake was Kenvue: 7,326,131 shares worth $194M. The largest sale was Shell, an estimated $444M.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 26% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2023 buy was Kenvue: 7,326,131 shares worth $194M.
- Norges Bank added most to Microsoft in Q2 2023, an estimated $1.04B increase.
- Norges Bank's biggest Q2 2023 reduction was Shell, cutting an estimated $444M.
- Norges Bank fully exited Evoqua Water Technologies Corp. Common Stock in Q2 2023, selling an estimated $175M.
- Norges Bank's ten largest holdings make up 27% of its $507B portfolio in Q2 2023.
- Norges Bank opened 58 new positions and closed 138 in Q2 2023.
- Norges Bank's portfolio value rose 11% quarter-over-quarter to $507B.
Based on Norges Bank's 13F filing for Q2 2023, filed 14 Aug 2023.