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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
ARES icon
576
Ares Management
ARES
$31.1B
$102M 0.02%
1,256,994
-1,386
-0.1% -$106K
MTN icon
577
Vail Resorts
MTN
$5.28B
$102M 0.02%
391,698
-5,017
-1% -$1.37M
DOX icon
578
Amdocs
DOX
$6.33B
$102M 0.02%
1,236,626
-79,152
-6% -$6.2M
AZPN
579
DELISTED
ASPEN TECHNOLOGY INC
AZPN
$102M 0.02%
614,609
-30,859
-5% -$5.1M
TREX icon
580
Trex
TREX
$4.97B
$101M 0.02%
1,550,601
+114,054
+8% +$10.2M
K
581
DELISTED
Kellanova
K
$101M 0.02%
1,662,733
+294,499
+22% +$17.7M
XRAY icon
582
Dentsply Sirona
XRAY
$2.68B
$100M 0.02%
2,037,143
-75,095
-4% -$3.97M
FWONK icon
583
Liberty Media Series C
FWONK
$25B
$100M 0.02%
1,482,114
+59,146
+4% +$3.52M
TWTR
584
DELISTED
Twitter, Inc.
TWTR
$99.9M 0.02%
2,581,592
-4,673,490
-64% -$171M
TRGP icon
585
Targa Resources
TRGP
$56.7B
$99.8M 0.02%
1,322,687
+129,255
+11% +$8.17M
RRX icon
586
Regal Rexnord
RRX
$12B
$99.6M 0.02%
669,217
+5,407
+0.8% +$867K
SEE
587
DELISTED
Sealed Air
SEE
$99.5M 0.02%
1,485,550
-38,925
-3% -$2.59M
DASH icon
588
DoorDash
DASH
$93.2B
$99.4M 0.02%
848,008
+31,328
+4% +$3.39M
NLY icon
589
Annaly Capital Management
NLY
$17B
$99.3M 0.02%
3,525,866
+107,352
+3% +$3.19M
EXPE icon
590
Expedia Group
EXPE
$37.3B
$98.1M 0.02%
501,537
+102,882
+26% +$19.2M
GL icon
591
Globe Life
GL
$14.4B
$97.6M 0.02%
970,489
+29,426
+3% +$2.98M
TFII icon
592
TFI International
TFII
$11.3B
$97M 0.02%
911,111
-24,124
-3% -$2.46M
LCID icon
593
Lucid Motors
LCID
$2.74B
$96.6M 0.02%
+380,254
New +$113M
CG icon
594
Carlyle Group
CG
$17.6B
$96.5M 0.02%
1,972,397
+392,191
+25% +$18.8M
LAMR icon
595
Lamar Advertising Co
LAMR
$16.2B
$96.4M 0.02%
829,750
-27,453
-3% -$3.06M
LAD icon
596
Lithia Motors
LAD
$8.23B
$96.3M 0.02%
320,968
-978
-0.3% -$305K
CMS icon
597
CMS Energy
CMS
$22.3B
$96.1M 0.02%
1,374,654
+358,260
+35% +$23.2M
CE icon
598
Celanese
CE
$4.89B
$95.8M 0.02%
670,393
-661,725
-50% -$101M
LBTYA icon
599
Liberty Global Class A
LBTYA
$3.69B
$95.2M 0.02%
3,731,811
+733,618
+24% +$19.4M
FBIN icon
600
Fortune Brands Innovations
FBIN
$6.04B
$94.9M 0.02%
1,494,014
-34,858
-2% -$2.68M
22 23
24
25 26

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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.