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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
IFF icon
376
International Flavors & Fragrances
IFF
$22.5B
$207M 0.05%
1,578,874
+940,964
+148% +$125M
MKL icon
377
Markel Group
MKL
$23.3B
$207M 0.05%
140,298
+12,058
+9% +$15.6M
PBCT
378
DELISTED
People's United Financial Inc
PBCT
$207M 0.05%
10,341,323
+6,059,331
+142% +$124M
LOGI icon
379
Logitech
LOGI
$15.1B
$206M 0.04%
2,743,750
+1,408,656
+106% +$109M
KDP icon
380
Keurig Dr Pepper
KDP
$41.8B
$204M 0.04%
5,388,197
+45,156
+0.8% +$1.71M
VRSN icon
381
VeriSign
VRSN
$26.5B
$203M 0.04%
911,581
+11,354
+1% +$2.48M
NDAQ icon
382
Nasdaq
NDAQ
$52.9B
$202M 0.04%
3,403,563
+208,638
+7% +$12.3M
ACGL icon
383
Arch Capital
ACGL
$33.8B
$202M 0.04%
4,168,234
-1,458,487
-26% -$67.8M
AGCO icon
384
AGCO
AGCO
$7.27B
$200M 0.04%
1,369,084
+241,881
+21% +$30.5M
LEN icon
385
Lennar Class A
LEN
$21.2B
$199M 0.04%
2,538,443
-193,994
-7% -$17.5M
HUBS icon
386
HubSpot
HUBS
$12.8B
$199M 0.04%
419,901
+22,593
+6% +$10.9M
MOS icon
387
The Mosaic Company
MOS
$7.44B
$199M 0.04%
2,993,737
-1,037,637
-26% -$51.9M
BMRN icon
388
BioMarin Pharmaceuticals
BMRN
$11.6B
$197M 0.04%
2,558,298
+208,758
+9% +$17.5M
CINF icon
389
Cincinnati Financial
CINF
$27.3B
$197M 0.04%
1,450,699
+2,287
+0.2% +$281K
MOH icon
390
Molina Healthcare
MOH
$10.2B
$197M 0.04%
591,189
+31,972
+6% +$9.84M
MKC icon
391
McCormick & Company Non-Voting
MKC
$14.1B
$194M 0.04%
1,939,827
-472,427
-20% -$46.2M
ULTA icon
392
Ulta Beauty
ULTA
$23.2B
$193M 0.04%
484,884
-5,973
-1% -$2.25M
STE icon
393
Steris
STE
$22.7B
$192M 0.04%
795,634
-18,432
-2% -$4.27M
TDY icon
394
Teledyne Technologies
TDY
$31.7B
$191M 0.04%
404,670
+5,507
+1% +$2.37M
MPWR icon
395
Monolithic Power Systems
MPWR
$66.1B
$191M 0.04%
393,746
+2,793
+0.7% +$1.22M
LSI
396
DELISTED
Life Storage, Inc.
LSI
$191M 0.04%
1,358,140
– –
ZBRA icon
397
Zebra Technologies
ZBRA
$17.6B
$189M 0.04%
457,799
+9,331
+2% +$4.29M
HPP
398
Hudson Pacific Properties
HPP
$812M
$189M 0.04%
970,609
-337,523
-26% -$60.7M
NTAP icon
399
NetApp
NTAP
$36.6B
$186M 0.04%
2,245,742
+22,081
+1% +$1.92M
TER icon
400
Teradyne
TER
$60.9B
$186M 0.04%
1,574,167
-41,370
-3% -$5.24M
14 15
16
17 18

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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.