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 | |
|---|---|---|---|---|---|---|
|
RNAM
1976
DELISTED
Avidity Biosciences
RNAM
| $1.89M | ﹤0.01% |
+85,100
| New | +$1.27M |
|
1977
Manitowoc
MTW
$728M
| $1.89M | ﹤0.01% |
+206,100
| New | +$1.88M |
|
1978
PennyMac Financial
PFSI
$3.58B
| $1.87M | ﹤0.01% |
33,092
-285,437
| -90% | -$15.1M |
|
|
ONTF
1979
DELISTED
ON24
ONTF
| $1.86M | ﹤0.01% |
+215,800
| New | +$1.73M |
|
|
GOLD
1980
Gold.com Inc
GOLD
$1.38B
| $1.86M | ﹤0.01% |
+53,600
| New | +$1.7M |
|
1981
Fossil Group
FOSL
$294M
| $1.85M | ﹤0.01% |
+429,500
| New | +$1.8M |
|
1982
Krystal Biotech
KRYS
$10.1B
| $1.83M | ﹤0.01% |
23,083
+9,557
| +71% | +$709K |
|
1983
Dyne Therapeutics
DYN
$3.46B
| $1.83M | ﹤0.01% |
+157,752
| New | +$1.83M |
|
|
CHX
1984
DELISTED
ChampionX
CHX
| $1.77M | ﹤0.01% |
61,009
-3,733,077
| -98% | -$103M |
|
|
TARO
1985
DELISTED
Taro Pharmaceutical Industries Ltd.
TARO
| $1.77M | ﹤0.01% |
60,790
| – | – |
|
1986
LendingTree
TREE
$390M
| $1.75M | ﹤0.01% |
82,007
| – | – |
|
1987
Columbus McKinnon
CMCO
$475M
| $1.75M | ﹤0.01% |
+53,800
| New | +$1.59M |
|
1988
Nu Holdings
NU
$69.6B
| $1.73M | ﹤0.01% |
425,000
| – | – |
|
|
MGI
1989
DELISTED
MoneyGram International, Inc. New
MGI
| $1.73M | ﹤0.01% |
+158,500
| New | +$1.7M |
|
|
INST
1990
DELISTED
Instructure Holdings, Inc.
INST
| $1.71M | ﹤0.01% |
72,862
| – | – |
|
|
GPMT
1991
Granite Point Mortgage Trust
GPMT
$43.5M
| $1.7M | ﹤0.01% |
+317,700
| New | +$2.06M |
|
1992
Cosan
CSAN
$2.69B
| $1.7M | ﹤0.01% |
129,943
| – | – |
|
1993
Sutro Biopharma
STRO
$280M
| $1.67M | ﹤0.01% |
+20,620
| New | +$1.43M |
|
1994
York Water
YORW
$537M
| $1.66M | ﹤0.01% |
36,826
+29,400
| +396% | +$1.28M |
|
1995
Powell Industries
POWL
$6.22B
| $1.63M | ﹤0.01% |
+138,900
| New | +$1.27M |
|
1996
CRA International
CRAI
$1.04B
| $1.63M | ﹤0.01% |
+13,300
| New | +$1.47M |
|
1997
Protagonist Therapeutics
PTGX
$9.56B
| $1.62M | ﹤0.01% |
+148,700
| New | +$1.25M |
|
1998
Domo
DOMO
$184M
| $1.6M | ﹤0.01% |
+112,700
| New | +$1.75M |
|
1999
Mercury Insurance
MCY
$5.73B
| $1.6M | ﹤0.01% |
+46,901
| New | +$1.56M |
|
2000
Turning Point Brands
TPB
$1.45B
| $1.59M | ﹤0.01% |
+73,400
| New | +$1.56M |
|
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.