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 | |
|---|---|---|---|---|---|---|
1951
MBIA
MBI
$275M
| $735K | ﹤0.01% |
85,101
-350,300
| -80% | -$3.15M |
|
|
YSG
1952
Yatsen Holding
YSG
$317M
| $730K | ﹤0.01% |
144,628
-59,144
| -29% | -$304K |
|
|
NIU
1953
Niu Technologies
NIU
$200M
| $715K | ﹤0.01% |
179,540
| – | – |
|
|
HUYA
1954
Huya Inc
HUYA
$558M
| $701K | ﹤0.01% |
195,805
| – | – |
|
1955
Universal Insurance Holdings
UVE
$1.26B
| $656K | ﹤0.01% |
42,500
-76,100
| -64% | -$1.26M |
|
|
PINE
1956
Alpine Income Property Trust
PINE
$336M
| $622K | ﹤0.01% |
+38,300
| New | +$609K |
|
|
BZUN
1957
Baozun
BZUN
$179M
| $619K | ﹤0.01% |
155,200
-53,200
| -26% | -$238K |
|
1958
Ocular Therapeutix
OCUL
$1.83B
| $617K | ﹤0.01% |
119,500
-374,800
| -76% | -$2.23M |
|
1959
AeroVironment
AVAV
$7.19B
| $612K | ﹤0.01% |
5,981
| – | – |
|
1960
Gibraltar Industries
ROCK
$1.28B
| $610K | ﹤0.01% |
+9,701
| New | +$525K |
|
1961
WisdomTree
WT
$2.79B
| $600K | ﹤0.01% |
87,466
| – | – |
|
1962
Kadant
KAI
$3.58B
| $585K | ﹤0.01% |
2,636
| – | – |
|
|
RERE
1963
ATRenew
RERE
$937M
| $567K | ﹤0.01% |
194,030
| – | – |
|
1964
Standard Motor Products
SMP
$902M
| $567K | ﹤0.01% |
15,100
-71,300
| -83% | -$2.6M |
|
1965
Kenon Holdings
KEN
$3.33B
| $538K | ﹤0.01% |
23,058
| – | – |
|
1966
CEVA Inc
CEVA
$831M
| $514K | ﹤0.01% |
20,100
| – | – |
|
1967
SiriusPoint
SPNT
$3.03B
| $508K | ﹤0.01% |
56,273
| – | – |
|
|
OLO
1968
DELISTED
Olo Inc
OLO
| $499K | ﹤0.01% |
77,300
| – | – |
|
|
CNSL
1969
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
| $490K | ﹤0.01% |
127,900
-93,400
| -42% | -$337K |
|
1970
Braskem
BAK
$901M
| $478K | ﹤0.01% |
41,063
| – | – |
|
1971
Rio Tinto
RIO
$152B
| $469K | ﹤0.01% |
7,353
| – | – |
|
1972
International Money Express
IMXI
$389M
| $469K | ﹤0.01% |
19,100
| – | – |
|
|
DAO
1973
Youdao
DAO
$1.89B
| $466K | ﹤0.01% |
96,600
| – | – |
|
1974
Information Services Group
III
$204M
| $454K | ﹤0.01% |
84,700
-38,700
| -31% | -$200K |
|
1975
Lemonade
LMND
$3.66B
| $432K | ﹤0.01% |
25,656
| – | – |
|
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.