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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
WST icon
301
West Pharmaceutical
WST
$24.7B
$273M 0.06%
664,584
+8,934
+1% +$3.5M
ED icon
302
Consolidated Edison
ED
$39.5B
$272M 0.06%
2,875,316
-31,366
-1% -$2.71M
SGEN
303
DELISTED
Seagen Inc. Common Stock
SGEN
$272M 0.06%
1,888,646
+153,232
+9% +$20.7M
GLW icon
304
Corning
GLW
$137B
$271M 0.06%
7,342,158
-230,190
-3% -$8.98M
AEM icon
305
Agnico Eagle Mines
AEM
$82.9B
$270M 0.06%
4,414,079
+2,036,836
+86% +$110M
MNST icon
306
Monster Beverage
MNST
$92.6B
$270M 0.06%
6,755,958
+168,608
+3% +$7.07M
WFG icon
307
West Fraser Timber
WFG
$5.49B
$267M 0.06%
3,251,756
-653,706
-17% -$61.4M
RSG icon
308
Republic Services
RSG
$63.5B
$267M 0.06%
2,015,532
+26,330
+1% +$3.35M
WTW icon
309
Willis Towers Watson
WTW
$31.5B
$267M 0.06%
1,128,876
+4,238
+0.4% +$970K
RGLD icon
310
Royal Gold
RGLD
$18.2B
$266M 0.06%
1,886,279
+978,706
+108% +$114M
VEEV icon
311
Veeva Systems
VEEV
$34.5B
$266M 0.06%
1,251,788
+28,965
+2% +$6.28M
ECL icon
312
Ecolab
ECL
$79.8B
$264M 0.06%
1,492,967
+54,531
+4% +$10.2M
TRV icon
313
Travelers Companies
TRV
$79.7B
$263M 0.06%
1,436,844
-1,410
-0.1% -$242K
GIS icon
314
General Mills
GIS
$19.1B
$261M 0.06%
3,854,660
-272,609
-7% -$18.3M
TSCO icon
315
Tractor Supply
TSCO
$17.5B
$260M 0.06%
5,569,900
+57,665
+1% +$2.55M
FITB
316
Fifth Third Bancorp
FITB
$52.5B
$260M 0.06%
6,038,409
+274,854
+5% +$12.8M
ELS icon
317
Equity Lifestyle Properties
ELS
$12.5B
$255M 0.06%
3,334,409
+56,153
+2% +$4.33M
ZBH icon
318
Zimmer Biomet
ZBH
$19B
$253M 0.06%
1,974,711
-105,809
-5% -$12.8M
HIG icon
319
Hartford Financial Services
HIG
$39.1B
$250M 0.05%
3,487,285
-19,134
-0.5% -$1.35M
QGEN icon
320
Qiagen
QGEN
$8.59B
$249M 0.05%
4,773,401
+238,199
+5% +$12.3M
HZNP
321
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$249M 0.05%
2,367,649
+42,798
+2% +$4.17M
EIX icon
322
Edison International
EIX
$26.2B
$249M 0.05%
3,545,360
-344,665
-9% -$22M
EFX icon
323
Equifax
EFX
$20.6B
$248M 0.05%
1,045,297
+84,480
+9% +$19.9M
KR icon
324
Kroger
KR
$34.8B
$247M 0.05%
4,310,783
-924,695
-18% -$45.9M
MDB icon
325
MongoDB
MDB
$30.3B
$247M 0.05%
557,381
+32,333
+6% +$12.6M
11 12
13
14 15

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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.