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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
BURL icon
626
Burlington
BURL
$23.3B
$88.6M 0.02%
486,314
-58,332
-11% -$12.8M
BERY
627
DELISTED
Berry Global Group, Inc.
BERY
$88.3M 0.02%
1,658,971
-43,344
-3% -$2.53M
AXON
628
Axon Enterprise
AXON
$42.2B
$88M 0.02%
639,019
+8,756
+1% +$1.2M
NXST icon
629
Nexstar Media Group
NXST
$5.73B
$87.9M 0.02%
466,335
-10,137
-2% -$1.76M
BCE icon
630
BCE
BCE
$21.2B
$87.8M 0.02%
1,585,077
+17,699
+1% +$939K
VTRS icon
631
Viatris
VTRS
$19B
$87.4M 0.02%
8,030,512
-94,407
-1% -$1.24M
ALLE icon
632
Allegion
ALLE
$14.3B
$87.2M 0.02%
794,764
+5,746
+0.7% +$682K
CLX icon
633
Clorox
CLX
$12.7B
$87.1M 0.02%
626,334
+106,000
+20% +$16.2M
PNR icon
634
Pentair
PNR
$11.1B
$86.6M 0.02%
1,596,785
-12,462
-0.8% -$754K
JBL icon
635
Jabil
JBL
$36.3B
$86.3M 0.02%
1,398,239
+12,432
+0.9% +$766K
TRQ
636
DELISTED
Turquoise Hill Resources Ltd
TRQ
$86.3M 0.02%
2,873,261
+1,899,480
+195% +$39.7M
DXC icon
637
DXC Technology
DXC
$1.76B
$86.2M 0.02%
2,641,801
-184,396
-7% -$6.1M
PEN icon
638
Penumbra
PEN
$12.8B
$86M 0.02%
386,992
+37,677
+11% +$8.37M
TW icon
639
Tradeweb Markets
TW
$21.8B
$85.9M 0.02%
977,579
+52,460
+6% +$4.55M
MKSI icon
640
MKS Inc
MKSI
$19.7B
$85.7M 0.02%
571,256
-74,709
-12% -$11.6M
PLAN
641
DELISTED
Anaplan, Inc.
PLAN
$85.6M 0.02%
1,315,336
+458
+0% +$22.3K
LSCC icon
642
Lattice Semiconductor
LSCC
$18.3B
$85.5M 0.02%
1,402,603
-45,367
-3% -$2.72M
LYFT icon
643
Lyft
LYFT
$6.19B
$85.5M 0.02%
2,225,357
+285,686
+15% +$11.2M
CPNG icon
644
Coupang
CPNG
$29.4B
$85.4M 0.02%
4,832,969
+4,732,969
+4,733% +$101M
NWSA icon
645
News Corp Class A
NWSA
$16B
$85.3M 0.02%
3,852,760
-151,259
-4% -$3.35M
CIEN icon
646
Ciena
CIEN
$57.2B
$85.3M 0.02%
1,406,976
-18,576
-1% -$1.22M
RHI icon
647
Robert Half
RHI
$4.17B
$85.2M 0.02%
746,565
-290,807
-28% -$33.5M
COUP
648
DELISTED
Coupa Software Incorporated
COUP
$83.8M 0.02%
824,770
-41,379
-5% -$5.01M
WEX icon
649
WEX
WEX
$6.45B
$83.2M 0.02%
465,969
+34,700
+8% +$5.66M
BE icon
650
Bloom Energy
BE
$67.1B
$82.7M 0.02%
3,423,777
+39,491
+1% +$772K
24 25
26
27 28

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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.