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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
-3.69%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$459B
AUM Growth
-$27.6B
Cap. Flow
+$61.1M
Cap. Flow %
0.01%
Top 10 Hldgs %
23.45%
Holding
2,291
New
87
Increased
805
Reduced
864
Closed
129

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$2.21B
2
SHEL icon
Shell
SHEL
+$646M
3
SPGI icon
S&P Global
SPGI
+$609M
4
AMD icon
Advanced Micro Devices
AMD
+$575M
5
TMO icon
Thermo Fisher Scientific
TMO
+$533M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$2.17B
2
CVX icon
Chevron
CVX
+$1.22B
3
INFO
IHS Markit Ltd. Common Shares
INFO
+$579M
4
XLNX
Xilinx Inc
XLNX
+$487M
5
NUE icon
Nucor
NUE
+$487M

Sector Composition

Rank Sector Weight
1 Technology 24.29%
2 Financials 14.66%
3 Healthcare 12.85%
4 Consumer Discretionary 11.35%
5 Communication Services 8.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DFS
251
DELISTED
Discover Financial Services
DFS
$342M 0.07%
3,104,592
+34,120
+1% +$4.01M
COLD icon
252
Americold
COLD
$4.02B
$340M 0.07%
12,206,144
+4,157,647
+52% +$117M
CHTR icon
253
Charter Communications
CHTR
$18B
$340M 0.07%
623,019
-36,209
-5% -$21.3M
ACC
254
DELISTED
American Campus Communities, Inc.
ACC
$338M 0.07%
6,038,904
– –
ROST icon
255
Ross Stores
ROST
$81.1B
$334M 0.07%
3,697,165
+201,281
+6% +$19.2M
UNM icon
256
Unum
UNM
$14.1B
$334M 0.07%
10,594,006
+6,339,567
+149% +$177M
SLF icon
257
Sun Life Financial
SLF
$45.3B
$332M 0.07%
5,952,848
+612,331
+11% +$33.7M
URI icon
258
United Rentals
URI
$72.2B
$331M 0.07%
932,678
+215,920
+30% +$70.5M
DDOG icon
259
Datadog
DDOG
$102B
$331M 0.07%
2,182,209
+157,953
+8% +$23.1M
SE icon
260
Sea Limited
SE
$69.1B
$329M 0.07%
2,748,463
+588,655
+27% +$83M
CNH
261
CNH Industrial
CNH
$13.6B
$328M 0.07%
20,570,961
-4,399,600
-18% -$68.4M
ALGN icon
262
Align Technology
ALGN
$12.3B
$328M 0.07%
751,189
+11,295
+2% +$5.5M
PLUG icon
263
Plug Power
PLUG
$2.92B
$326M 0.07%
11,405,971
+4,012,001
+54% +$95.6M
KKR icon
264
KKR & Co
KKR
$93.8B
$324M 0.07%
5,541,507
+307,203
+6% +$19.3M
AME icon
265
Ametek
AME
$58.5B
$319M 0.07%
2,392,192
+106,485
+5% +$14.3M
CTAS icon
266
Cintas
CTAS
$80.2B
$317M 0.07%
2,981,900
+63,088
+2% +$6.14M
TEAM icon
267
Atlassian
TEAM
$28.3B
$312M 0.07%
1,060,231
+103,606
+11% +$30.9M
ANET icon
268
Arista Networks
ANET
$249B
$307M 0.07%
8,840,212
+368,620
+4% +$11.6M
PSX icon
269
Phillips 66
PSX
$81.2B
$306M 0.07%
3,540,155
-274,994
-7% -$23.1M
WMB icon
270
Williams Companies
WMB
$87.9B
$305M 0.07%
9,129,803
-206,880
-2% -$6.32M
NET icon
271
Cloudflare
NET
$105B
$304M 0.07%
2,541,484
+101,220
+4% +$10.6M
FAST icon
272
Fastenal
FAST
$57.6B
$302M 0.07%
10,174,644
-83,040
-0.8% -$2.32M
NUE icon
273
Nucor
NUE
$62.4B
$300M 0.07%
2,021,446
-3,968,951
-66% -$487M
CBRE icon
274
CBRE Group
CBRE
$43.6B
$300M 0.07%
3,275,939
+70,853
+2% +$6.9M
SO icon
275
Southern Company
SO
$106B
$300M 0.07%
4,131,626
+223,310
+6% +$15.1M
9 10
11
12 13

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Norges Bank's Q1 2022 Portfolio in Review

As of Q1 2022, Norges Bank held 2,291 positions worth $459B, down 5.7% from $486B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Norges Bank's Q1 2022 filing shows 87 new, 805 increased, 864 reduced and 129 closed positions. Its largest new stake was Shell: 12,168,641 shares worth $668M. The largest sale was Alphabet (Google) Class A, an estimated $2.17B.

By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 25% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q1 2022 buy was Shell: 12,168,641 shares worth $668M.
  • Norges Bank added most to Alphabet (Google) Class C in Q1 2022, an estimated $2.21B increase.
  • Norges Bank's biggest Q1 2022 reduction was Alphabet (Google) Class A, cutting an estimated $2.17B.
  • Norges Bank fully exited IHS Markit Ltd. Common Shares in Q1 2022, selling an estimated $579M.
  • Norges Bank's ten largest holdings make up 23% of its $459B portfolio in Q1 2022.
  • Norges Bank opened 87 new positions and closed 129 in Q1 2022.
  • Norges Bank's portfolio value fell 5.7% quarter-over-quarter to $459B.

Based on Norges Bank's 13F filing for Q1 2022, filed 9 May 2022.