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 A
GOOGL
|
+$1.03B |
| 2 |
Apple
AAPL
|
+$741M |
| 3 |
Microsoft
MSFT
|
+$710M |
| 4 |
Tesla
TSLA
|
+$495M |
| 5 |
Amgen
AMGN
|
+$474M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$915M |
| 2 |
Cigna
CI
|
+$517M |
| 3 |
UBS Group
UBS
|
+$413M |
| 4 |
Morgan Stanley
MS
|
+$300M |
| 5 |
AstraZeneca
AZN
|
+$279M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.58% |
| 2 | Financials | 14.36% |
| 3 | Healthcare | 14.17% |
| 4 | Consumer Discretionary | 11.44% |
| 5 | Communication Services | 8.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2026
Johnson Outdoors
JOUT
$504M
| $775K | ﹤0.01% |
15,100
| – | – |
|
2027
RE/MAX Holdings
RMAX
$207M
| $772K | ﹤0.01% |
+40,800
| New | +$969K |
|
|
ARIS
2028
DELISTED
Aris Water Solutions
ARIS
| $763K | ﹤0.01% |
+59,800
| New | +$1.02M |
|
2029
Children's Place
PLCE
$58.7M
| $762K | ﹤0.01% |
24,663
+1,672
| +7% | +$70.3K |
|
|
CHUY
2030
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
| $742K | ﹤0.01% |
32,000
-28,300
| -47% | -$632K |
|
|
CMRC
2031
Commerce.com Inc Series 1
CMRC
$268M
| $733K | ﹤0.01% |
49,560
-365,185
| -88% | -$6.26M |
|
2032
Ameresco
AMRC
$1.48B
| $700K | ﹤0.01% |
10,524
+600
| +6% | +$36.8K |
|
2033
dLocal
DLO
$4.52B
| $693K | ﹤0.01% |
33,778
+18,608
| +123% | +$495K |
|
2034
Claros Mortgage Trust
CMTG
$247M
| $669K | ﹤0.01% |
56,996
| – | – |
|
|
CHCT
2035
Community Healthcare Trust
CHCT
$509M
| $668K | ﹤0.01% |
+20,400
| New | +$754K |
|
2036
Kodiak Sciences
KOD
$2.68B
| $637K | ﹤0.01% |
82,333
-238,783
| -74% | -$2.32M |
|
|
HDSN
2037
Hudson Technologies
HDSN
$266M
| $635K | ﹤0.01% |
86,400
+68,600
| +385% | +$577K |
|
2038
ThredUp
TDUP
$794M
| $617K | ﹤0.01% |
+335,500
| New | +$841K |
|
|
BIG
2039
DELISTED
Big Lots, Inc.
BIG
| $613K | ﹤0.01% |
39,287
-46,264
| -54% | -$995K |
|
|
OLO
2040
DELISTED
Olo Inc
OLO
| $611K | ﹤0.01% |
77,300
| – | – |
|
2041
Alight
ALIT
$453M
| $606K | ﹤0.01% |
+4,135
| New | +$638K |
|
|
SRDX
2042
DELISTED
Surmodics
SRDX
| $602K | ﹤0.01% |
+19,800
| New | +$679K |
|
2043
Ginkgo Bioworks
DNA
$611M
| $600K | ﹤0.01% |
+4,808
| New | +$573K |
|
2044
GrowGeneration
GRWG
$90.1M
| $595K | ﹤0.01% |
170,023
| – | – |
|
2045
The Joint Corp
JYNT
$118M
| $586K | ﹤0.01% |
37,300
-33,200
| -47% | -$590K |
|
2046
Lemonade
LMND
$4.22B
| $543K | ﹤0.01% |
+25,656
| New | +$583K |
|
|
ARVL
2047
DELISTED
Arrival Ordinary Shares
ARVL
| $520K | ﹤0.01% |
+12,875
| New | +$848K |
|
|
RERE
2048
ATRenew
RERE
$915M
| $446K | ﹤0.01% |
194,030
| – | – |
|
2049
Kadant
KAI
$3.95B
| $440K | ﹤0.01% |
2,636
| – | – |
|
|
HUYA
2050
Huya Inc
HUYA
$584M
| $435K | ﹤0.01% |
195,805
| – | – |
|
Similar funds
Norges Bank's Q3 2022 Portfolio in Review
As of Q3 2022, Norges Bank held 2,179 positions worth $376B, down 2.8% from $387B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Norges Bank's Q3 2022 filing shows 127 new, 1,072 increased, 569 reduced and 90 closed positions. Its largest new stake was Neogen: 14,429,817 shares worth $202M. The largest sale was Alphabet (Google) Class C, an estimated $915M.
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 Q3 2022 buy was Neogen: 14,429,817 shares worth $202M.
- Norges Bank added most to Alphabet (Google) Class A in Q3 2022, an estimated $1.03B increase.
- Norges Bank's biggest Q3 2022 reduction was Alphabet (Google) Class C, cutting an estimated $915M.
- Norges Bank fully exited SailPoint Technologies Holdings, Inc. Common Stock in Q3 2022, selling an estimated $93.7M.
- Norges Bank's ten largest holdings make up 24% of its $376B portfolio in Q3 2022.
- Norges Bank opened 127 new positions and closed 90 in Q3 2022.
- Norges Bank's portfolio value fell 2.8% quarter-over-quarter to $376B.
Based on Norges Bank's 13F filing for Q3 2022, filed 14 Nov 2022.