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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+11.12%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$486B
AUM Growth
+$34.4B
Cap. Flow
-$6.45B
Cap. Flow %
-1.33%
Top 10 Hldgs %
23.63%
Holding
2,366
New
96
Increased
712
Reduced
1,022
Closed
162

Top Buys

Rank Stock Value
1
WMT icon
Walmart Inc
WMT
+$629M
2
TMUS icon
T-Mobile US
TMUS
+$562M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$500M
4
ADSK icon
Autodesk
ADSK
+$426M
5
QCOM icon
Qualcomm
QCOM
+$353M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$894M
2
AAPL icon
Apple
AAPL
+$645M
3
V icon
Visa
V
+$405M
4
NET icon
Cloudflare
NET
+$282M
5
KSU
Kansas City Southern
KSU
+$251M

Sector Composition

Rank Sector Weight
1 Technology 24.83%
2 Financials 13.82%
3 Healthcare 12.74%
4 Consumer Discretionary 11.88%
5 Communication Services 9.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HLT icon
251
Hilton Worldwide
HLT
$70.6B
$364M 0.07%
2,335,219
-170,017
-7% -$24.5M
BIDU icon
252
Baidu
BIDU
$38.4B
$364M 0.07%
2,446,561
-70,716
-3% -$11M
MFC icon
253
Manulife Financial
MFC
$73.9B
$362M 0.07%
19,001,291
+72,664
+0.4% +$1.41M
DDOG icon
254
Datadog
DDOG
$97.3B
$361M 0.07%
2,024,256
+94,154
+5% +$16M
DHI icon
255
D.R. Horton
DHI
$40.5B
$360M 0.07%
3,315,926
-467,546
-12% -$45M
SYY icon
256
Sysco
SYY
$39.3B
$356M 0.07%
4,535,849
+60,576
+1% +$4.66M
DFS
257
DELISTED
Discover Financial Services
DFS
$355M 0.07%
3,070,472
-165,225
-5% -$19.5M
WOLF icon
258
Wolfspeed
WOLF
$1.28B
$354M 0.07%
3,171,279
-315,967
-9% -$35.2M
GPN icon
259
Global Payments
GPN
$23.4B
$353M 0.07%
2,608,367
-74,746
-3% -$10.3M
MRSH
260
Marsh
MRSH
$91.5B
$350M 0.07%
2,015,327
-70,645
-3% -$11.7M
CRWD icon
261
CrowdStrike
CRWD
$202B
$349M 0.07%
6,808,840
+423,060
+7% +$25.8M
CBRE icon
262
CBRE Group
CBRE
$42.4B
$348M 0.07%
3,205,086
-35,056
-1% -$3.59M
SIVB
263
DELISTED
SVB Financial Group
SIVB
$346M 0.07%
510,380
-7,297
-1% -$5.14M
ACC
264
DELISTED
American Campus Communities, Inc.
ACC
$346M 0.07%
6,038,904
– –
SBAC icon
265
SBA Communications
SBAC
$19.1B
$340M 0.07%
873,569
-128,025
-13% -$45M
XYZ
266
Block Inc
XYZ
$48.8B
$339M 0.07%
2,099,335
-85,661
-4% -$18.6M
AMP icon
267
Ameriprise Financial
AMP
$48.3B
$337M 0.07%
1,118,696
-19,401
-2% -$5.74M
ECL icon
268
Ecolab
ECL
$78.1B
$337M 0.07%
1,438,436
-15,282
-1% -$3.45M
REXR icon
269
Rexford Industrial Realty
REXR
$8.34B
$337M 0.07%
4,153,403
+30,874
+0.7% +$2.14M
JBGS
270
JBG SMITH
JBGS
$827M
$336M 0.07%
11,714,255
– –
AME icon
271
Ametek
AME
$55.4B
$336M 0.07%
2,285,707
+109,540
+5% +$15M
OTIS icon
272
Otis Worldwide
OTIS
$27.4B
$335M 0.07%
3,849,548
-140,657
-4% -$11.8M
ODFL icon
273
Old Dominion Freight Line
ODFL
$43.8B
$335M 0.07%
1,870,118
+765,302
+69% +$129M
EPAM icon
274
EPAM Systems
EPAM
$5.5B
$333M 0.07%
498,266
-6,187
-1% -$3.98M
FRC
275
DELISTED
First Republic Bank
FRC
$330M 0.07%
1,600,137
-35,408
-2% -$7.47M
9 10
11
12 13

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Norges Bank's Q4 2021 Portfolio in Review

As of Q4 2021, Norges Bank held 2,366 positions worth $486B, up 7.6% from $452B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Norges Bank's Q4 2021 filing shows 96 new, 712 increased, 1,022 reduced and 162 closed positions. Its largest new stake was Rivian: 1,993,212 shares worth $207M. The largest sale was Alphabet (Google) Class A, an estimated $894M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q4 2021 buy was Rivian: 1,993,212 shares worth $207M.
  • Norges Bank added most to Walmart Inc in Q4 2021, an estimated $629M increase.
  • Norges Bank's biggest Q4 2021 reduction was Alphabet (Google) Class A, cutting an estimated $894M.
  • Norges Bank fully exited Kansas City Southern in Q4 2021, selling an estimated $251M.
  • Norges Bank's ten largest holdings make up 24% of its $486B portfolio in Q4 2021.
  • Norges Bank opened 96 new positions and closed 162 in Q4 2021.
  • Norges Bank's portfolio value rose 7.6% quarter-over-quarter to $486B.

Based on Norges Bank's 13F filing for Q4 2021, filed 10 Feb 2022.