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 | |
|---|---|---|---|---|---|---|
1926
Humacyte
HUMA
$176M
| $1.07M | ﹤0.01% |
+374,176
| New | +$1.35M |
|
|
VNET
1927
VNET Group
VNET
$2.02B
| $1.04M | ﹤0.01% |
360,272
| – | – |
|
1928
Adicet Bio
ACET
$79.8M
| $1.04M | ﹤0.01% |
+26,847
| New | +$2.37M |
|
|
CCC
1929
CCC Intelligent Solutions
CCC
$3.44B
| $1.04M | ﹤0.01% |
+92,549
| New | +$910K |
|
1930
The Joint Corp
JYNT
$119M
| $1.03M | ﹤0.01% |
76,600
-34,900
| -31% | -$512K |
|
1931
National Presto Industries
NPK
$863M
| $1.02M | ﹤0.01% |
+14,000
| New | +$1.03M |
|
1932
RadNet
RDNT
$4.88B
| $1.01M | ﹤0.01% |
+31,000
| New | +$901K |
|
1933
Ducommun
DCO
$2.74B
| $1M | ﹤0.01% |
23,000
| – | – |
|
1934
Rayonier Advanced Materials
RYAM
$589M
| $989K | ﹤0.01% |
+231,000
| New | +$1.09M |
|
|
SILK
1935
DELISTED
Silk Road Medical, Inc. Common Stock
SILK
| $988K | ﹤0.01% |
30,400
-265,100
| -90% | -$9.68M |
|
1936
Xponential Fitness
XPOF
$267M
| $982K | ﹤0.01% |
56,900
-69,700
| -55% | -$1.97M |
|
1937
Xperi
XPER
$358M
| $960K | ﹤0.01% |
73,010
-326,849
| -82% | -$3.54M |
|
|
IRBT
1938
DELISTED
iRobot
IRBT
| $951K | ﹤0.01% |
+21,012
| New | +$839K |
|
1939
Tootsie Roll Industries
TR
$2.94B
| $950K | ﹤0.01% |
+29,311
| New | +$1.07M |
|
|
FSP
1940
Franklin Street Properties
FSP
$47.1M
| $949K | ﹤0.01% |
654,301
-6,900
| -1% | -$9.55K |
|
1941
El Pollo Loco
LOCO
$496M
| $939K | ﹤0.01% |
+107,100
| New | +$1M |
|
|
ONTF
1942
DELISTED
ON24
ONTF
| $870K | ﹤0.01% |
107,100
-108,700
| -50% | -$903K |
|
1943
EverQuote
EVER
$858M
| $851K | ﹤0.01% |
130,900
-14,000
| -10% | -$118K |
|
|
UBA
1944
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
| $804K | ﹤0.01% |
37,801
-20,900
| -36% | -$390K |
|
|
CHCT
1945
Community Healthcare Trust
CHCT
$524M
| $776K | ﹤0.01% |
23,500
-71,000
| -75% | -$2.47M |
|
1946
Arcutis Biotherapeutics
ARQT
$3.33B
| $772K | ﹤0.01% |
81,012
| – | – |
|
1947
OptimizeRx
OPRX
$110M
| $766K | ﹤0.01% |
53,600
-300
| -0.6% | -$4.27K |
|
1948
Vanda Pharmaceuticals
VNDA
$299M
| $758K | ﹤0.01% |
115,000
-44,000
| -28% | -$282K |
|
|
BRFS
1949
DELISTED
BRF SA
BRFS
| $747K | ﹤0.01% |
393,370
| – | – |
|
1950
OrthoPediatrics
KIDS
$504M
| $746K | ﹤0.01% |
17,018
| – | – |
|
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.