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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
-3.87%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$376B
AUM Growth
-$10.7B
Cap. Flow
+$10.8B
Cap. Flow %
2.88%
Top 10 Hldgs %
23.71%
Holding
2,179
New
127
Increased
1,072
Reduced
569
Closed
90

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.03B
2
AAPL icon
Apple
AAPL
+$741M
3
MSFT icon
Microsoft
MSFT
+$710M
4
TSLA icon
Tesla
TSLA
+$495M
5
AMGN icon
Amgen
AMGN
+$474M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$915M
2
CI icon
Cigna
CI
+$517M
3
UBS icon
UBS Group
UBS
+$413M
4
MS icon
Morgan Stanley
MS
+$300M
5
AZN icon
AstraZeneca
AZN
+$279M

Sector Composition

Rank Sector Weight
1 Technology 23.58%
2 Financials 14.36%
3 Healthcare 14.17%
4 Consumer Discretionary 11.44%
5 Communication Services 8.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
REXR icon
276
Rexford Industrial Realty
REXR
$8.4B
$255M 0.07%
4,911,463
+270,655
+6% +$16.7M
KKR icon
277
KKR & Co
KKR
$95.7B
$255M 0.07%
5,929,459
+322,904
+6% +$16.3M
RMD icon
278
ResMed
RMD
$31.2B
$254M 0.07%
1,163,788
+118,819
+11% +$27M
DLTR icon
279
Dollar Tree
DLTR
$24.9B
$253M 0.07%
1,860,149
-262,013
-12% -$40.8M
CARR icon
280
Carrier Global
CARR
$52.1B
$253M 0.07%
7,114,269
+288,444
+4% +$11.4M
OTIS icon
281
Otis Worldwide
OTIS
$27.5B
$252M 0.07%
3,952,004
+251,717
+7% +$18.4M
GWW icon
282
W.W. Grainger
GWW
$64.7B
$251M 0.07%
512,126
+63,937
+14% +$33.6M
KMI icon
283
Kinder Morgan
KMI
$69.9B
$250M 0.07%
15,044,357
-407,017
-3% -$7.24M
CUBE icon
284
CubeSmart
CUBE
$9.47B
$248M 0.07%
6,202,548
+1,903,533
+44% +$85.8M
DDOG icon
285
Datadog
DDOG
$97.4B
$246M 0.07%
2,772,935
+387,183
+16% +$39M
FAST icon
286
Fastenal
FAST
$55.2B
$244M 0.06%
10,609,112
+235,318
+2% +$5.93M
VEEV icon
287
Veeva Systems
VEEV
$33.5B
$244M 0.06%
1,481,070
+54,955
+4% +$11M
TECK icon
288
Teck Resources
TECK
$29.5B
$244M 0.06%
8,031,215
+59,127
+0.7% +$1.83M
ALNY icon
289
Alnylam Pharmaceuticals
ALNY
$29.5B
$244M 0.06%
1,218,184
-66,593
-5% -$12.7M
KDP icon
290
Keurig Dr Pepper
KDP
$42.1B
$243M 0.06%
6,784,203
+16,754
+0.2% +$634K
ODFL icon
291
Old Dominion Freight Line
ODFL
$44B
$242M 0.06%
1,949,170
+21,390
+1% +$2.96M
WMB icon
292
Williams Companies
WMB
$86.1B
$241M 0.06%
8,435,196
+394,512
+5% +$12.9M
DOW icon
293
Dow Inc
DOW
$21.6B
$241M 0.06%
5,483,567
+95,142
+2% +$4.82M
FRC
294
DELISTED
First Republic Bank
FRC
$240M 0.06%
1,837,721
+81,652
+5% +$12.5M
NIO icon
295
NIO
NIO
$12.1B
$239M 0.06%
15,146,529
-193,677
-1% -$3.83M
DPZ icon
296
Domino's
DPZ
$12.1B
$238M 0.06%
765,725
+340,670
+80% +$129M
YUMC icon
297
Yum China
YUMC
$16.6B
$237M 0.06%
5,009,509
+849,075
+20% +$40.8M
VRSK icon
298
Verisk Analytics
VRSK
$25.1B
$237M 0.06%
1,388,966
+330,398
+31% +$61.8M
KEYS icon
299
Keysight
KEYS
$55B
$236M 0.06%
1,500,918
+13,086
+0.9% +$2.09M
SLF icon
300
Sun Life Financial
SLF
$45.7B
$234M 0.06%
5,899,480
+97,886
+2% +$4.39M
10 11
12
13 14

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Norges Bank's Q3 2022 Portfolio in Review

As of Q3 2022, Norges Bank held 2,179 positions worth $376B, down 2.8% from $387B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Norges Bank's Q3 2022 filing shows 127 new, 1,072 increased, 569 reduced and 90 closed positions. Its largest new stake was Neogen: 14,429,817 shares worth $202M. The largest sale was Alphabet (Google) Class C, an estimated $915M.

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

  • Norges Bank's largest Q3 2022 buy was Neogen: 14,429,817 shares worth $202M.
  • Norges Bank added most to Alphabet (Google) Class A in Q3 2022, an estimated $1.03B increase.
  • Norges Bank's biggest Q3 2022 reduction was Alphabet (Google) Class C, cutting an estimated $915M.
  • Norges Bank fully exited SailPoint Technologies Holdings, Inc. Common Stock in Q3 2022, selling an estimated $93.7M.
  • Norges Bank's ten largest holdings make up 24% of its $376B portfolio in Q3 2022.
  • Norges Bank opened 127 new positions and closed 90 in Q3 2022.
  • Norges Bank's portfolio value fell 2.8% quarter-over-quarter to $376B.

Based on Norges Bank's 13F filing for Q3 2022, filed 14 Nov 2022.