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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
DLTR icon
276
Dollar Tree
DLTR
$24.8B
$329M 0.07%
2,344,660
+104,722
+5% +$12.7M
FAST icon
277
Fastenal
FAST
$55.3B
$329M 0.07%
10,257,684
+490,678
+5% +$14.5M
LKQ icon
278
LKQ Corp
LKQ
$5.87B
$328M 0.07%
5,472,001
-42,961
-0.8% -$2.42M
LHX icon
279
L3Harris
LHX
$51.3B
$324M 0.07%
1,521,280
-182,109
-11% -$40.4M
MTCH icon
280
Match Group
MTCH
$9.53B
$324M 0.07%
2,451,505
-88,258
-3% -$12.8M
CTAS icon
281
Cintas
CTAS
$82B
$323M 0.07%
2,918,812
-86,616
-3% -$9.33M
NET icon
282
Cloudflare
NET
$101B
$321M 0.07%
2,440,264
-1,684,803
-41% -$282M
D icon
283
Dominion Energy
D
$60.4B
$319M 0.07%
4,063,116
-155,398
-4% -$11.7M
MTD icon
284
Mettler-Toledo International
MTD
$28.9B
$318M 0.07%
187,423
-11,102
-6% -$16.8M
MNST icon
285
Monster Beverage
MNST
$91.9B
$316M 0.07%
6,587,350
-225,204
-3% -$10M
TWTR
286
DELISTED
Twitter, Inc.
TWTR
$314M 0.06%
7,255,082
-50,631
-0.7% -$2.63M
VEEV icon
287
Veeva Systems
VEEV
$33.9B
$312M 0.06%
1,222,823
-16,921
-1% -$4.92M
AWK icon
288
American Water Works
AWK
$26.7B
$309M 0.06%
1,637,404
-23,913
-1% -$4.18M
WST icon
289
West Pharmaceutical
WST
$24.5B
$308M 0.06%
655,650
+18,904
+3% +$8.14M
LEN icon
290
Lennar Class A
LEN
$20.3B
$307M 0.06%
2,732,437
-72,597
-3% -$7.42M
VRSK icon
291
Verisk Analytics
VRSK
$25.1B
$305M 0.06%
1,335,581
-38,395
-3% -$8.38M
ANET icon
292
Arista Networks
ANET
$228B
$304M 0.06%
8,471,592
+13,992
+0.2% +$418K
CMI icon
293
Cummins
CMI
$89B
$302M 0.06%
1,385,665
-30,937
-2% -$7.05M
TRMB icon
294
Trimble
TRMB
$13.4B
$301M 0.06%
3,455,159
-48,675
-1% -$4.18M
CSGP icon
295
CoStar Group
CSGP
$12.1B
$298M 0.06%
3,771,165
+137,151
+4% +$11.5M
LH icon
296
Labcorp
LH
$25B
$298M 0.06%
1,102,402
+22,315
+2% +$5.52M
SLF icon
297
Sun Life Financial
SLF
$46B
$297M 0.06%
5,340,517
-790,032
-13% -$43.7M
RMD icon
298
ResMed
RMD
$31.1B
$294M 0.06%
1,127,698
-22,498
-2% -$5.84M
SWK icon
299
Stanley Black & Decker
SWK
$14.6B
$293M 0.06%
1,553,938
-24,963
-2% -$4.61M
VLO icon
300
Valero Energy
VLO
$90.2B
$291M 0.06%
3,877,423
+94,031
+2% +$7M
10 11
12
13 14

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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.