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
|
+$764M |
| 2 |
UBS Group
UBS
|
+$753M |
| 3 |
Apple
AAPL
|
+$665M |
| 4 |
JPMorgan Chase
JPM
|
+$621M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$498M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$811M |
| 2 |
Oracle
ORCL
|
+$505M |
| 3 |
T-Mobile US
TMUS
|
+$390M |
| 4 |
Deutsche Bank
DB
|
+$275M |
| 5 |
GE Aerospace
GE
|
+$240M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.11% |
| 2 | Financials | 13.76% |
| 3 | Healthcare | 13.71% |
| 4 | Consumer Discretionary | 10.81% |
| 5 | Communication Services | 7.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2101
Brady Corp
BRC
$4.62B
| – | – |
-240,559
| Closed | -$11.3M |
|
2102
Cardlytics
CDLX
$23.5M
| – | – |
-40,457
| Closed | -$2.34M |
|
2103
Cullinan Oncology
CGEM
$1.06B
| – | – |
-101,900
| Closed | -$1.08M |
|
2104
Columbus McKinnon
CMCO
$617M
| – | – |
-53,800
| Closed | -$1.75M |
|
|
CPRX
2105
DELISTED
Catalyst Pharmaceutical
CPRX
| – | – |
-314,400
| Closed | -$5.85M |
|
2106
CRA International
CRAI
$1.16B
| – | – |
-13,300
| Closed | -$1.63M |
|
2107
CRH
CRH
$65.6B
| – | – |
-80,400
| Closed | -$3.2M |
|
2108
Carriage Services
CSV
$639M
| – | – |
-38,800
| Closed | -$1.07M |
|
|
CSW
2109
CSW Industrials
CSW
$5.62B
| – | – |
-12,200
| Closed | -$1.41M |
|
2110
Sprinklr
CXM
$1.53B
| – | – |
-33,800
| Closed | -$276K |
|
2111
Domo
DOMO
$183M
| – | – |
-112,700
| Closed | -$1.6M |
|
2112
Ecopetrol
EC
$33.6B
| – | – |
-683,690
| Closed | -$7.16M |
|
2113
e.l.f. Beauty
ELF
$5.08B
| – | – |
-56,635
| Closed | -$3.13M |
|
2114
Element Solutions
ESI
$9.42B
| – | – |
-1,275,677
| Closed | -$23.2M |
|
|
EVRI
2115
DELISTED
Everi Holdings
EVRI
| – | – |
-222,100
| Closed | -$3.19M |
|
2116
Funko
FNKO
$319M
| – | – |
-189,500
| Closed | -$2.07M |
|
2117
GameStop
GME
$8.52B
| – | – |
-1,056,783
| Closed | -$19.5M |
|
|
XRN
2118
Chiron Real Estate Inc
XRN
$466M
| – | – |
-27,160
| Closed | -$1.29M |
|
|
GPMT
2119
Granite Point Mortgage Trust
GPMT
$72.4M
| – | – |
-317,700
| Closed | -$1.7M |
|
2120
FerroAtlántica
GSM
$626M
| – | – |
-312,500
| Closed | -$1.2M |
|
2121
Health Catalyst
HCAT
$168M
| – | – |
-240,100
| Closed | -$2.55M |
|
2122
Warrior Met Coal
HCC
$4.33B
| – | – |
-582,608
| Closed | -$20.2M |
|
2123
Hovnanian Enterprises
HOV
$785M
| – | – |
-34,100
| Closed | -$1.43M |
|
2124
Hyster-Yale Materials Handling
HY
$641M
| – | – |
-39,200
| Closed | -$992K |
|
2125
IDT Corp
IDT
$1.65B
| – | – |
-51,500
| Closed | -$1.45M |
|
Similar funds
Norges Bank's Q1 2023 Portfolio in Review
As of Q1 2023, Norges Bank held 2,211 positions worth $457B, up 10% from $415B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Norges Bank's Q1 2023 filing shows 81 new, 1,022 increased, 782 reduced and 124 closed positions. Its largest new stake was GE HealthCare: 2,602,917 shares worth $214M. The largest sale was Bank of America, an estimated $811M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2023 buy was GE HealthCare: 2,602,917 shares worth $214M.
- Norges Bank added most to Microsoft in Q1 2023, an estimated $764M increase.
- Norges Bank's biggest Q1 2023 reduction was Bank of America, cutting an estimated $811M.
- Norges Bank fully exited SVB Financial Group in Q1 2023, selling an estimated $141M.
- Norges Bank's ten largest holdings make up 24% of its $457B portfolio in Q1 2023.
- Norges Bank opened 81 new positions and closed 124 in Q1 2023.
- Norges Bank's portfolio value rose 10% quarter-over-quarter to $457B.
Based on Norges Bank's 13F filing for Q1 2023, filed 15 May 2023.