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 | |
|---|---|---|---|---|---|---|
1926
Stewart Information Services
STC
$2.05B
| $2.7M | ﹤0.01% |
+63,300
| New | +$2.65M |
|
1927
IonQ
IONQ
$15.2B
| $2.68M | ﹤0.01% |
775,979
+728,536
| +1,536% | +$3.52M |
|
|
ZIMV
1928
DELISTED
ZimVie
ZIMV
| $2.64M | ﹤0.01% |
282,978
+134,041
| +90% | +$1.17M |
|
|
AVDX
1929
DELISTED
AvidXchange
AVDX
| $2.61M | ﹤0.01% |
+262,700
| New | +$2.28M |
|
1930
Tidewater
TDW
$4.41B
| $2.6M | ﹤0.01% |
+70,500
| New | +$2.14M |
|
1931
Fulcrum Therapeutics
FULC
$289M
| $2.6M | ﹤0.01% |
+356,600
| New | +$2.33M |
|
1932
Clear Channel Outdoor Holdings
CCO
$1.21B
| $2.6M | ﹤0.01% |
2,472,300
+1,527,300
| +162% | +$1.92M |
|
1933
Banco Bilbao Vizcaya Argentaria
BBVA
$161B
| $2.58M | ﹤0.01% |
430,000
| – | – |
|
|
VVNT
1934
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
| $2.57M | ﹤0.01% |
216,182
| – | – |
|
1935
Health Catalyst
HCAT
$137M
| $2.55M | ﹤0.01% |
+240,100
| New | +$2.32M |
|
|
NXRT
1936
NexPoint Residential Trust
NXRT
$584M
| $2.51M | ﹤0.01% |
57,600
+8,700
| +18% | +$389K |
|
1937
Coeur Mining
CDE
$20.4B
| $2.51M | ﹤0.01% |
745,919
+93,200
| +14% | +$331K |
|
1938
IDEAYA Biosciences
IDYA
$3.67B
| $2.5M | ﹤0.01% |
+137,500
| New | +$2.31M |
|
1939
NETGEAR
NTGR
$582M
| $2.5M | ﹤0.01% |
137,800
-25,001
| -15% | -$492K |
|
1940
Paysafe
PSFE
$341M
| $2.48M | ﹤0.01% |
178,754
+65,229
| +57% | +$1.05M |
|
1941
Sterling Infrastructure
STRL
$14.5B
| $2.43M | ﹤0.01% |
+74,100
| New | +$2.18M |
|
1942
DMC Global
BOOM
$128M
| $2.42M | ﹤0.01% |
+124,300
| New | +$2.3M |
|
1943
Monarch Casino & Resort
MCRI
$2.2B
| $2.41M | ﹤0.01% |
+31,400
| New | +$2.37M |
|
1944
Harley-Davidson
HOG
$2.87B
| $2.38M | ﹤0.01% |
57,216
-54,666
| -49% | -$2.33M |
|
1945
Pricesmart
PSMT
$5.21B
| $2.35M | ﹤0.01% |
+38,695
| New | +$2.52M |
|
1946
Cardlytics
CDLX
$23.8M
| $2.34M | ﹤0.01% |
40,457
+14,360
| +55% | +$887K |
|
|
DAWN
1947
DELISTED
Day One Biopharmaceuticals
DAWN
| $2.32M | ﹤0.01% |
+108,000
| New | +$2.22M |
|
1948
Ivanhoe Electric
IE
$1.54B
| $2.31M | ﹤0.01% |
189,770
-49,115
| -21% | -$515K |
|
1949
American Public Education
APEI
$813M
| $2.3M | ﹤0.01% |
187,500
| – | – |
|
1950
Microvast
MVST
$223M
| $2.29M | ﹤0.01% |
1,500,000
| – | – |
|
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.