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 | |
|---|---|---|---|---|---|---|
|
LPSN
1951
DELISTED
LivePerson
LPSN
| $2.29M | ﹤0.01% |
15,086
| – | – |
|
1952
International Money Express
IMXI
$428M
| $2.29M | ﹤0.01% |
94,000
-36,600
| -28% | -$840K |
|
|
WE
1953
DELISTED
WeWork Inc.
WE
| $2.29M | ﹤0.01% |
+39,957
| New | +$3.74M |
|
1954
Ally Financial
ALLY
$12.8B
| $2.27M | ﹤0.01% |
92,765
-109,404
| -54% | -$2.91M |
|
1955
OmniAb
OABI
$651M
| $2.25M | ﹤0.01% |
+623,616
| New | +$3.27M |
|
|
NVMI
1956
Nova
NVMI
$10.6B
| $2.22M | ﹤0.01% |
27,466
| – | – |
|
1957
StepStone Group
STEP
$4.23B
| $2.21M | ﹤0.01% |
87,741
| – | – |
|
1958
Endava
DAVA
$159M
| $2.2M | ﹤0.01% |
28,700
| – | – |
|
1959
Standard Motor Products
SMP
$855M
| $2.19M | ﹤0.01% |
62,900
-11,500
| -15% | -$421K |
|
|
NVEI
1960
DELISTED
Nuvei Corporation Subordinate Voting Shares
NVEI
| $2.18M | ﹤0.01% |
85,730
| – | – |
|
1961
Telkom Indonesia
TLK
$15B
| $2.17M | ﹤0.01% |
91,000
| – | – |
|
|
CHCT
1962
Community Healthcare Trust
CHCT
$422M
| $2.17M | ﹤0.01% |
60,500
+40,100
| +197% | +$1.37M |
|
|
VRTV
1963
DELISTED
VERITIV CORPORATION
VRTV
| $2.16M | ﹤0.01% |
17,752
| – | – |
|
|
DADA
1964
DELISTED
Dada Nexus
DADA
| $2.15M | ﹤0.01% |
308,950
| – | – |
|
1965
MasterCraft Boat Holdings
MCFT
$488M
| $2.14M | ﹤0.01% |
82,900
+38,500
| +87% | +$909K |
|
1966
Fulgent Genetics
FLGT
$568M
| $2.14M | ﹤0.01% |
71,887
+17,200
| +31% | +$615K |
|
1967
Skywest
SKYW
$3.77B
| $2.14M | ﹤0.01% |
129,617
| – | – |
|
|
CMAX
1968
DELISTED
CareMax, Inc. Class A Common Stock
CMAX
| $2.13M | ﹤0.01% |
+19,417
| New | +$2.9M |
|
1969
Johnson Outdoors
JOUT
$467M
| $2.08M | ﹤0.01% |
31,400
+16,300
| +108% | +$915K |
|
1970
Funko
FNKO
$305M
| $2.07M | ﹤0.01% |
+189,500
| New | +$2.66M |
|
1971
Quanex
NX
$961M
| $2.06M | ﹤0.01% |
87,091
-56,500
| -39% | -$1.27M |
|
1972
Allegiant Air
ALGT
$2.15B
| $2.06M | ﹤0.01% |
30,291
+7,151
| +31% | +$522K |
|
|
NOAH
1973
Noah Holdings
NOAH
$552M
| $2.04M | ﹤0.01% |
131,645
| – | – |
|
|
AMRS
1974
DELISTED
Amyris Inc.
AMRS
| $2.01M | ﹤0.01% |
1,312,074
| – | – |
|
1975
Kelly Services Class A
KELYA
$564M
| $1.98M | ﹤0.01% |
117,000
+15,200
| +15% | +$244K |
|
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.