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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
DEI icon
351
Douglas Emmett
DEI
$1.99B
$245M 0.05%
7,301,728
– –
SYF icon
352
Synchrony
SYF
$25.5B
$243M 0.05%
5,247,510
-239,257
-4% -$11.5M
KMI icon
353
Kinder Morgan
KMI
$69.3B
$243M 0.05%
15,331,587
-349,707
-2% -$5.82M
WMB icon
354
Williams Companies
WMB
$86.7B
$243M 0.05%
9,336,683
+863,669
+10% +$23.9M
HIG icon
355
Hartford Financial Services
HIG
$38.9B
$242M 0.05%
3,506,419
-31,915
-0.9% -$2.25M
XPEV icon
356
XPeng
XPEV
$11.5B
$242M 0.05%
4,805,335
+403,409
+9% +$18.2M
MLM icon
357
Martin Marietta Materials
MLM
$32.7B
$242M 0.05%
548,614
-4,682
-0.8% -$1.9M
EBAY icon
358
eBay
EBAY
$47.9B
$241M 0.05%
3,620,309
-938,683
-21% -$67M
OKTA icon
359
Okta
OKTA
$25.5B
$241M 0.05%
1,073,809
-15,981
-1% -$3.81M
MGA icon
360
Magna International
MGA
$18.4B
$239M 0.05%
2,952,231
+18,550
+0.6% +$1.51M
URI icon
361
United Rentals
URI
$70.7B
$238M 0.05%
716,758
+12,469
+2% +$4.45M
KR icon
362
Kroger
KR
$35.2B
$237M 0.05%
5,235,478
-2,438,651
-32% -$103M
SPOT icon
363
Spotify
SPOT
$103B
$236M 0.05%
1,007,671
-31,062
-3% -$7.77M
KEYS icon
364
Keysight
KEYS
$57.3B
$233M 0.05%
1,130,212
-282,374
-20% -$52.8M
MKC icon
365
McCormick & Company Non-Voting
MKC
$13.8B
$233M 0.05%
2,412,254
+520,339
+28% +$44.3M
HSY icon
366
Hershey
HSY
$35.4B
$232M 0.05%
1,197,040
+6,825
+0.6% +$1.24M
CFG icon
367
Citizens Financial Group
CFG
$31B
$229M 0.05%
4,850,900
-72,330
-1% -$3.48M
VRSN icon
368
VeriSign
VRSN
$26.8B
$228M 0.05%
900,227
-26,177
-3% -$6.05M
ICLR icon
369
Icon
ICLR
$12B
$227M 0.05%
733,322
+5,744
+0.8% +$1.61M
HPP
370
Hudson Pacific Properties
HPP
$765M
$226M 0.05%
1,308,132
– –
TTEK icon
371
Tetra Tech
TTEK
$8.81B
$226M 0.05%
6,640,900
-943,575
-12% -$32.5M
OLPX
372
DELISTED
Olaplex Holdings
OLPX
$225M 0.05%
7,730,975
-519,025
-6% -$13.8M
TRV icon
373
Travelers Companies
TRV
$78.6B
$225M 0.05%
1,438,254
-163,128
-10% -$25.5M
CE icon
374
Celanese
CE
$4.82B
$224M 0.05%
1,332,118
-70,995
-5% -$11.6M
LYB icon
375
LyondellBasell Industries
LYB
$19.3B
$224M 0.05%
2,425,931
+756,630
+45% +$70.2M
13 14
15
16 17

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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.