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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
OTIS icon
276
Otis Worldwide
OTIS
$27.8B
$299M 0.07%
3,891,577
+42,029
+1% +$3.36M
TROW icon
277
T. Rowe Price
TROW
$24.5B
$298M 0.06%
1,970,341
+267
+0% +$41.2K
WRK
278
DELISTED
WestRock Company
WRK
$297M 0.06%
6,304,888
+382,667
+6% +$17.5M
CF icon
279
CF Industries
CF
$17.9B
$296M 0.06%
2,871,901
+199,507
+7% +$16.1M
FMC icon
280
FMC
FMC
$1.35B
$296M 0.06%
2,247,976
-164,962
-7% -$19.4M
WBA
281
DELISTED
Walgreens Boots Alliance
WBA
$295M 0.06%
6,586,836
-539,001
-8% -$26.5M
KMI icon
282
Kinder Morgan
KMI
$69.3B
$294M 0.06%
15,566,809
+235,222
+2% +$4.14M
NIO icon
283
NIO
NIO
$11.7B
$294M 0.06%
13,963,089
+213,333
+2% +$5.02M
VRSK icon
284
Verisk Analytics
VRSK
$24.6B
$294M 0.06%
1,368,840
+33,259
+2% +$6.56M
BIIB icon
285
Biogen
BIIB
$30.5B
$289M 0.06%
1,371,053
-184,152
-12% -$40M
SIVB
286
DELISTED
SVB Financial Group
SIVB
$287M 0.06%
512,411
+2,031
+0.4% +$1.23M
TDG icon
287
TransDigm Group
TDG
$70.2B
$285M 0.06%
437,419
+22,087
+5% +$14.2M
SBAC icon
288
SBA Communications
SBAC
$18.9B
$283M 0.06%
821,208
-52,361
-6% -$17M
PCAR icon
289
PACCAR
PCAR
$70.2B
$282M 0.06%
4,810,539
-67,576
-1% -$4.12M
MTD icon
290
Mettler-Toledo International
MTD
$28.5B
$282M 0.06%
205,591
+18,168
+10% +$26.2M
HSY icon
291
Hershey
HSY
$36.1B
$281M 0.06%
1,295,999
+98,959
+8% +$20.1M
CERN
292
DELISTED
Cerner Corp
CERN
$279M 0.06%
2,987,066
+245,212
+9% +$22.7M
AWK icon
293
American Water Works
AWK
$26.7B
$278M 0.06%
1,681,950
+44,546
+3% +$7.06M
FRC
294
DELISTED
First Republic Bank
FRC
$277M 0.06%
1,706,656
+106,519
+7% +$18.6M
MTCH icon
295
Match Group
MTCH
$8.9B
$277M 0.06%
2,543,895
+92,390
+4% +$10.2M
GPK icon
296
Graphic Packaging
GPK
$3.52B
$275M 0.06%
13,708,502
-261,651
-2% -$5.08M
CMI icon
297
Cummins
CMI
$89.7B
$274M 0.06%
1,337,137
-48,528
-4% -$10.5M
RMD icon
298
ResMed
RMD
$32.5B
$274M 0.06%
1,129,787
+2,089
+0.2% +$505K
RYN icon
299
Rayonier
RYN
$6.62B
$274M 0.06%
7,344,056
+2,363,176
+47% +$83.9M
LKQ icon
300
LKQ Corp
LKQ
$6.1B
$274M 0.06%
6,023,946
+551,945
+10% +$28.2M
10 11
12
13 14

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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.