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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
FSLR icon
351
First Solar
FSLR
$26.7B
$219M 0.05%
2,618,063
+352,943
+16% +$27M
TTD icon
352
Trade Desk
TTD
$8.43B
$219M 0.05%
3,161,705
+871,192
+38% +$62.9M
IT icon
353
Gartner
IT
$11.6B
$219M 0.05%
735,646
-10,982
-1% -$3.18M
TTEK icon
354
Tetra Tech
TTEK
$8.86B
$219M 0.05%
6,626,420
-14,480
-0.2% -$446K
ES icon
355
Eversource Energy
ES
$27.3B
$218M 0.05%
2,477,193
+306,608
+14% +$26.2M
DOV icon
356
Dover
DOV
$28.6B
$218M 0.05%
1,390,174
+17,932
+1% +$2.94M
PGRE
357
DELISTED
Paramount Group
PGRE
$217M 0.05%
19,882,031
– –
WTRG icon
358
Essential Utilities
WTRG
$11.4B
$216M 0.05%
4,229,120
+547,061
+15% +$26.4M
PAYX icon
359
Paychex
PAYX
$42.3B
$215M 0.05%
1,578,380
+219,335
+16% +$26.9M
MLM icon
360
Martin Marietta Materials
MLM
$32.8B
$215M 0.05%
559,221
+10,607
+2% +$4.11M
VMC icon
361
Vulcan Materials
VMC
$36.8B
$215M 0.05%
1,170,956
-41,210
-3% -$7.69M
PPG icon
362
PPG Industries
PPG
$26.3B
$215M 0.05%
1,640,961
+42,792
+3% +$6.22M
GWW icon
363
W.W. Grainger
GWW
$59.8B
$215M 0.05%
416,172
+1,419
+0.3% +$698K
SWKS icon
364
Skyworks Solutions
SWKS
$10.1B
$214M 0.05%
1,608,010
-11,395
-0.7% -$1.6M
RF icon
365
Regions Financial
RF
$27.1B
$214M 0.05%
9,604,860
-258,903
-3% -$6.09M
APO icon
366
Apollo Global Management
APO
$74B
$214M 0.05%
3,444,494
+2,970,682
+627% +$195M
ENPH icon
367
Enphase Energy
ENPH
$5.2B
$213M 0.05%
1,057,346
+30,631
+3% +$4.81M
BBY icon
368
Best Buy
BBY
$17.1B
$213M 0.05%
2,339,426
-139,882
-6% -$13.9M
SWK icon
369
Stanley Black & Decker
SWK
$15.6B
$212M 0.05%
1,519,682
-34,256
-2% -$5.66M
ALNY icon
370
Alnylam Pharmaceuticals
ALNY
$30.2B
$211M 0.05%
1,295,087
+25,896
+2% +$3.95M
KEYS icon
371
Keysight
KEYS
$57.9B
$211M 0.05%
1,336,163
+205,951
+18% +$34.3M
CHD icon
372
Church & Dwight Co
CHD
$24.4B
$210M 0.05%
2,116,633
+127,245
+6% +$12.7M
CFG icon
373
Citizens Financial Group
CFG
$30.9B
$210M 0.05%
4,639,478
-211,422
-4% -$10.9M
HBAN icon
374
Huntington Bancshares
HBAN
$35.6B
$210M 0.05%
14,336,618
+485,864
+4% +$7.61M
PLTR icon
375
Palantir
PLTR
$377B
$209M 0.05%
15,201,291
+420,524
+3% +$5.61M
13 14
15
16 17

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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.