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
|
+$1.63B |
| 2 |
Apple
AAPL
|
+$1.62B |
| 3 |
Meta Platforms (Facebook)
META
|
+$1.18B |
| 4 |
Amazon
AMZN
|
+$978M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$769M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AT&T
T
|
+$509M |
| 2 |
Chevron
CVX
|
+$405M |
| 3 |
T-Mobile US
TMUS
|
+$339M |
| 4 |
lululemon athletica
LULU
|
+$302M |
| 5 |
ACC
American Campus Communities, Inc.
ACC
|
+$301M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.69% |
| 2 | Financials | 14.38% |
| 3 | Healthcare | 14.2% |
| 4 | Consumer Discretionary | 10.56% |
| 5 | Communication Services | 8.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2001
Braskem
BAK
$928M
| $586K | ﹤0.01% |
41,063
| – | – |
|
|
RERE
2002
ATRenew
RERE
$941M
| $580K | ﹤0.01% |
194,030
| – | – |
|
2003
Telos
TLS
$336M
| $555K | ﹤0.01% |
+68,700
| New | +$592K |
|
2004
Phillips Edison & Co
PECO
$5.45B
| $554K | ﹤0.01% |
16,579
| – | – |
|
2005
Barnes & Noble Education
BNED
$429M
| $549K | ﹤0.01% |
+1,874
| New | +$544K |
|
|
CVSA
2006
Covista Inc
CVSA
$4.26B
| $523K | ﹤0.01% |
14,544
-259,566
| -95% | -$8.18M |
|
|
FSP
2007
Franklin Street Properties
FSP
$47.4M
| $518K | ﹤0.01% |
+124,201
| New | +$596K |
|
|
IMGN
2008
DELISTED
Immunogen Inc
IMGN
| $517K | ﹤0.01% |
114,900
-1,820,000
| -94% | -$7.91M |
|
2009
Kadant
KAI
$3.64B
| $481K | ﹤0.01% |
+2,636
| New | +$491K |
|
|
DAO
2010
Youdao
DAO
$2.05B
| $475K | ﹤0.01% |
96,600
| – | – |
|
2011
Horace Mann Educators
HMN
$2.11B
| $461K | ﹤0.01% |
12,000
-11,918
| -50% | -$465K |
|
2012
Ameresco
AMRC
$1.12B
| $452K | ﹤0.01% |
9,924
-26,001
| -72% | -$1.45M |
|
2013
Rio Tinto
RIO
$157B
| $449K | ﹤0.01% |
7,353
-47,205
| -87% | -$3.38M |
|
2014
WisdomTree
WT
$2.97B
| $443K | ﹤0.01% |
87,466
| – | – |
|
2015
Jakks Pacific
JAKK
$303M
| $432K | ﹤0.01% |
34,100
-29,600
| -46% | -$392K |
|
|
EXAI
2016
DELISTED
Exscientia Plc American Depositary Shares
EXAI
| $415K | ﹤0.01% |
38,079
| – | – |
|
2017
dLocal
DLO
$4.46B
| $398K | ﹤0.01% |
+15,170
| New | +$388K |
|
2018
Ecovyst
ECVT
$1.33B
| $382K | ﹤0.01% |
+38,800
| New | +$403K |
|
|
AMK
2019
DELISTED
AssetMark Financial Holdings, Inc.
AMK
| $370K | ﹤0.01% |
19,700
-8,200
| -29% | -$164K |
|
2020
Xilio Therapeutics
XLO
$59.2M
| $356K | ﹤0.01% |
8,706
-19,865
| -70% | -$1.05M |
|
|
LGTY
2021
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $347K | ﹤0.01% |
21,492
| – | – |
|
2022
Ascendis Pharma A/S
ASND
$16.1B
| $346K | ﹤0.01% |
3,727
| – | – |
|
2023
Miller Industries
MLR
$574M
| $329K | ﹤0.01% |
+14,500
| New | +$369K |
|
|
ENDP
2024
DELISTED
Endo International plc
ENDP
| $312K | ﹤0.01% |
670,894
-709,500
| -51% | -$901K |
|
2025
SiriusPoint
SPNT
$2.73B
| $305K | ﹤0.01% |
56,273
| – | – |
|
Similar funds
Norges Bank's Q2 2022 Portfolio in Review
As of Q2 2022, Norges Bank held 2,232 positions worth $387B, down 16% from $459B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Norges Bank's Q2 2022 filing shows 70 new, 787 increased, 1,058 reduced and 180 closed positions. Its largest new stake was Bausch + Lomb: 3,234,219 shares worth $49.3M. The largest sale was AT&T, an estimated $509M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 24% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2022 buy was Bausch + Lomb: 3,234,219 shares worth $49.3M.
- Norges Bank added most to Microsoft in Q2 2022, an estimated $1.63B increase.
- Norges Bank's biggest Q2 2022 reduction was AT&T, cutting an estimated $509M.
- Norges Bank fully exited Cerner Corp in Q2 2022, selling an estimated $279M.
- Norges Bank's ten largest holdings make up 23% of its $387B portfolio in Q2 2022.
- Norges Bank opened 70 new positions and closed 180 in Q2 2022.
- Norges Bank's portfolio value fell 16% quarter-over-quarter to $387B.
Based on Norges Bank's 13F filing for Q2 2022, filed 11 Aug 2022.