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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
-15.38%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$387B
AUM Growth
-$71.9B
Cap. Flow
+$7.52B
Cap. Flow %
1.94%
Top 10 Hldgs %
22.98%
Holding
2,232
New
70
Increased
787
Reduced
1,058
Closed
180

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$1.63B
2
AAPL icon
Apple
AAPL
+$1.62B
3
META icon
Meta Platforms (Facebook)
META
+$1.18B
4
AMZN icon
Amazon
AMZN
+$978M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$769M

Top Sells

Rank Stock Value
1
T icon
AT&T
T
+$509M
2
CVX icon
Chevron
CVX
+$405M
3
TMUS icon
T-Mobile US
TMUS
+$339M
4
LULU icon
lululemon athletica
LULU
+$302M
5
ACC
American Campus Communities, Inc.
ACC
+$301M

Sector Composition

Rank Sector Weight
1 Technology 23.69%
2 Financials 14.38%
3 Healthcare 14.2%
4 Consumer Discretionary 10.56%
5 Communication Services 8.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HSIC icon
526
Henry Schein
HSIC
$9.77B
$98.9M 0.03%
1,288,651
-79,030
-6% -$6.62M
EBAY icon
527
eBay
EBAY
$50.6B
$98.7M 0.03%
2,368,938
-841,543
-26% -$41M
HAS icon
528
Hasbro
HAS
$13.2B
$98.5M 0.03%
1,202,771
-46,520
-4% -$4.03M
CPNG icon
529
Coupang
CPNG
$29.3B
$97.9M 0.03%
7,678,545
+2,845,576
+59% +$38.8M
BIO icon
530
Bio-Rad Laboratories Class A
BIO
$8.71B
$97.9M 0.03%
197,743
-11,554
-6% -$6.02M
ABMD
531
DELISTED
Abiomed Inc
ABMD
$97.7M 0.03%
394,696
-22,410
-5% -$6.05M
CCEP icon
532
Coca-Cola Europacific Partners
CCEP
$48.3B
$97.7M 0.03%
1,892,623
+993,518
+111% +$50.9M
PNW icon
533
Pinnacle West Capital
PNW
$12.2B
$97.6M 0.03%
1,334,565
+175,988
+15% +$13.2M
TRGP icon
534
Targa Resources
TRGP
$58B
$97M 0.03%
1,625,507
+302,820
+23% +$21.7M
BLDR icon
535
Builders FirstSource
BLDR
$7.15B
$96.9M 0.03%
1,804,807
-58,255
-3% -$3.57M
DOCU
536
DocuSign
DOCU
$10.5B
$96.6M 0.03%
1,683,309
+30,766
+2% +$2.49M
UTHR icon
537
United Therapeutics
UTHR
$25.8B
$96.1M 0.02%
407,658
-8,527
-2% -$1.73M
ZEN
538
DELISTED
ZENDESK INC
ZEN
$95.9M 0.02%
1,294,699
+543,129
+72% +$53.6M
HUBS icon
539
HubSpot
HUBS
$12.2B
$95.4M 0.02%
317,365
-102,536
-24% -$37.4M
HPP
540
Hudson Pacific Properties
HPP
$747M
$95.4M 0.02%
918,292
-52,317
-5% -$7.74M
DOX icon
541
Amdocs
DOX
$5.92B
$94.9M 0.02%
1,139,223
-97,403
-8% -$8.03M
BKI
542
DELISTED
Black Knight, Inc. Common Stock
BKI
$94.6M 0.02%
1,446,795
+38,706
+3% +$2.61M
RS icon
543
Reliance Steel & Aluminium
RS
$20.7B
$94.5M 0.02%
556,360
+169,852
+44% +$31.7M
SAIL
544
DELISTED
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
$93.7M 0.02%
1,494,853
+880,211
+143% +$54.3M
SNA icon
545
Snap-on
SNA
$21.2B
$93.1M 0.02%
472,707
-31,029
-6% -$6.61M
CMC icon
546
Commercial Metals
CMC
$7.6B
$92.8M 0.02%
2,802,738
+1,540,600
+122% +$60.7M
MKTX icon
547
MarketAxess Holdings
MKTX
$5.71B
$92.3M 0.02%
360,569
+11,172
+3% +$3.06M
BP icon
548
BP
BP
$116B
$91.8M 0.02%
3,239,795
+711,732
+28% +$21.8M
STLD icon
549
Steel Dynamics
STLD
$36B
$91.8M 0.02%
1,387,751
-234,865
-14% -$18.8M
TU icon
550
Telus
TU
$14.9B
$91.8M 0.02%
4,119,710
+52,453
+1% +$1.3M
20 21
22
23 24

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Norges Bank's Q2 2022 Portfolio in Review

As of Q2 2022, Norges Bank held 2,232 positions worth $387B, down 16% from $459B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Norges Bank's Q2 2022 filing shows 70 new, 787 increased, 1,058 reduced and 180 closed positions. Its largest new stake was Bausch + Lomb: 3,234,219 shares worth $49.3M. The largest sale was AT&T, an estimated $509M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 24% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q2 2022 buy was Bausch + Lomb: 3,234,219 shares worth $49.3M.
  • Norges Bank added most to Microsoft in Q2 2022, an estimated $1.63B increase.
  • Norges Bank's biggest Q2 2022 reduction was AT&T, cutting an estimated $509M.
  • Norges Bank fully exited Cerner Corp in Q2 2022, selling an estimated $279M.
  • Norges Bank's ten largest holdings make up 23% of its $387B portfolio in Q2 2022.
  • Norges Bank opened 70 new positions and closed 180 in Q2 2022.
  • Norges Bank's portfolio value fell 16% quarter-over-quarter to $387B.

Based on Norges Bank's 13F filing for Q2 2022, filed 11 Aug 2022.