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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
+11.12%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$486B
AUM Growth
+$34.4B
Cap. Flow
-$6.45B
Cap. Flow %
-1.33%
Top 10 Hldgs %
23.63%
Holding
2,366
New
96
Increased
712
Reduced
1,022
Closed
162

Top Buys

Rank Stock Value
1
WMT icon
Walmart Inc
WMT
+$629M
2
TMUS icon
T-Mobile US
TMUS
+$562M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$500M
4
ADSK icon
Autodesk
ADSK
+$426M
5
QCOM icon
Qualcomm
QCOM
+$353M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$894M
2
AAPL icon
Apple
AAPL
+$645M
3
V icon
Visa
V
+$405M
4
NET icon
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
LII icon
601
Lennox International
LII
$15.4B
$103M 0.02%
317,915
+15,922
+5% +$4.97M
SEE
602
DELISTED
Sealed Air
SEE
$103M 0.02%
1,524,475
-36,002
-2% -$2.24M
ARES icon
603
Ares Management
ARES
$32.2B
$102M 0.02%
1,258,380
+25,815
+2% +$2.1M
TPR icon
604
Tapestry
TPR
$31.5B
$102M 0.02%
2,514,356
-229,162
-8% -$9.42M
ROG icon
605
Rogers Corp
ROG
$2.37B
$102M 0.02%
373,582
+180,079
+93% +$43.8M
RS icon
606
Reliance Steel & Aluminium
RS
$21.2B
$102M 0.02%
627,754
-11,342
-2% -$1.75M
SYNH
607
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
$102M 0.02%
990,390
+61,828
+7% +$5.94M
MHK icon
608
Mohawk Industries
MHK
$9.25B
$102M 0.02%
557,556
-10,667
-2% -$1.9M
PTC icon
609
PTC
PTC
$15.4B
$101M 0.02%
834,412
-31,451
-4% -$3.79M
WRB icon
610
W.R. Berkley
WRB
$26.5B
$101M 0.02%
2,758,732
-57,784
-2% -$2.05M
DT icon
611
Dynatrace
DT
$13.3B
$101M 0.02%
1,665,983
-1,431
-0.1% -$97.5K
RPM icon
612
RPM International
RPM
$14.7B
$101M 0.02%
995,295
-88,049
-8% -$8.01M
KMX icon
613
CarMax
KMX
$8.16B
$100M 0.02%
770,710
-700,937
-48% -$98.2M
PEN icon
614
Penumbra
PEN
$12.8B
$100M 0.02%
349,315
+4,360
+1% +$1.15M
CHKP icon
615
Check Point Software Technologies
CHKP
$12.7B
$100M 0.02%
859,095
+1,134
+0.1% +$131K
SMAR
616
DELISTED
Smartsheet Inc.
SMAR
$100M 0.02%
1,291,776
+105,517
+9% +$7.37M
AZTA icon
617
Azenta
AZTA
$1.39B
$99.6M 0.02%
966,368
-14,678
-1% -$1.59M
KNX icon
618
Knight Transportation
KNX
$11.7B
$99.3M 0.02%
1,629,669
+77,519
+5% +$4.39M
AXON
619
Axon Enterprise
AXON
$48.9B
$99M 0.02%
630,263
+11,000
+2% +$1.85M
DOX icon
620
Amdocs
DOX
$6.02B
$98.5M 0.02%
1,315,778
-27,441
-2% -$2.06M
SHO icon
621
Sunstone Hotel Investors
SHO
$2.16B
$98.3M 0.02%
8,379,270
-168,116
-2% -$2.01M
CLF icon
622
Cleveland-Cliffs
CLF
$7.02B
$98.3M 0.02%
4,514,774
+325,880
+8% +$7.02M
AZPN
623
DELISTED
ASPEN TECHNOLOGY INC
AZPN
$98.2M 0.02%
645,468
+91,199
+16% +$13.9M
SAIA icon
624
Saia
SAIA
$9.99B
$98.1M 0.02%
291,177
+53,547
+23% +$16.6M
LI icon
625
Li Auto
LI
$13.4B
$98.1M 0.02%
3,056,877
– –
23 24
25
26 27

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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.