Norges Bank Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$629M |
| 2 |
T-Mobile US
TMUS
|
+$562M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$500M |
| 4 |
Autodesk
ADSK
|
+$426M |
| 5 |
Qualcomm
QCOM
|
+$353M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$894M |
| 2 |
Apple
AAPL
|
+$645M |
| 3 |
Visa
V
|
+$405M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
526
Packaging Corp of America
PKG
$22.7B
| $131M | 0.03% |
965,201
-8,541
| -0.9% | -$1.15M |
|
527
Fox Class A
FOXA
$24.6B
| $131M | 0.03% |
3,550,004
| – | – |
|
528
Hasbro
HAS
$12.9B
| $131M | 0.03% |
1,286,377
-9,541
| -0.7% | -$916K |
|
529
AGCO
AGCO
$7.47B
| $131M | 0.03% |
1,127,203
+14,923
| +1% | +$1.81M |
|
530
Vail Resorts
MTN
$5.31B
| $130M | 0.03% |
396,715
-2,099
| -0.5% | -$716K |
|
531
Graco
GGG
$13.3B
| $130M | 0.03% |
1,609,086
-16,843
| -1% | -$1.28M |
|
532
Leidos
LDOS
$16.4B
| $129M | 0.03% |
1,456,473
+95,185
| +7% | +$8.91M |
|
533
Lincoln National
LNC
$8.96B
| $129M | 0.03% |
1,884,345
+116,122
| +7% | +$8.19M |
|
534
Wayfair
W
$15.3B
| $128M | 0.03% |
673,248
-5,600
| -0.8% | -$1.32M |
|
535
Teck Resources
TECK
$32B
| $128M | 0.03% |
4,424,339
-169,473
| -4% | -$4.65M |
|
536
Agnico Eagle Mines
AEM
$76.8B
| $126M | 0.03% |
2,377,243
+1,687
| +0.1% | +$89.7K |
|
537
Algonquin Power & Utilities
AQN
$4.44B
| $126M | 0.03% |
8,687,370
+818,707
| +10% | +$11.7M |
|
538
Bilibili
BILI
$7.94B
| $125M | 0.03% |
2,702,688
+23,240
| +0.9% | +$1.55M |
|
539
Carlisle Companies
CSL
$15.1B
| $125M | 0.03% |
504,574
+18,880
| +4% | +$4.34M |
|
540
Cognex
CGNX
$12B
| $124M | 0.03% |
1,599,638
-18,887
| -1% | -$1.52M |
|
541
Pembina Pipeline
PBA
$28.2B
| $124M | 0.03% |
4,086,093
+7,616
| +0.2% | +$243K |
|
|
MASI
542
DELISTED
Masimo
MASI
| $124M | 0.03% |
423,396
-9,801
| -2% | -$2.79M |
|
543
Incyte
INCY
$24.3B
| $123M | 0.03% |
1,679,539
+33,037
| +2% | +$2.23M |
|
544
Cboe Global Markets
CBOE
$30.5B
| $123M | 0.03% |
940,724
| – | – |
|
545
DoorDash
DASH
$87.5B
| $122M | 0.03% |
816,680
-301,056
| -27% | -$57M |
|
546
Elanco Animal Health
ELAN
$12.8B
| $121M | 0.02% |
4,250,857
-90,717
| -2% | -$2.82M |
|
547
CenterPoint Energy
CNP
$27.4B
| $120M | 0.02% |
4,285,498
-1,026,199
| -19% | -$27.4M |
|
548
Everest Group
EG
$14.2B
| $118M | 0.02% |
432,547
+7,650
| +2% | +$2.07M |
|
549
Royalty Pharma
RPRX
$25.5B
| $118M | 0.02% |
2,960,240
+99,510
| +3% | +$3.87M |
|
550
Teladoc Health
TDOC
$1.18B
| $118M | 0.02% |
1,283,627
+81,745
| +7% | +$9.77M |
|
Similar funds
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.