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 | |
|---|---|---|---|---|---|---|
|
K
701
DELISTED
Kellanova
K
| $82.8M | 0.02% |
1,368,234
-873,892
| -39% | -$51.6M |
|
702
Pinnacle West Capital
PNW
$12.3B
| $82.7M | 0.02% |
1,170,916
-37,176
| -3% | -$2.5M |
|
703
Watsco Inc
WSO
$13.8B
| $82.6M | 0.02% |
263,979
-32,800
| -11% | -$9.72M |
|
704
GFL Environmental
GFL
$15.2B
| $82.3M | 0.02% |
2,175,179
+550,824
| +34% | +$21.4M |
|
705
Avis
CAR
$4.99B
| $82.3M | 0.02% |
396,962
-56,338
| -12% | -$12.5M |
|
706
Wheaton Precious Metals
WPM
$52.4B
| $82.1M | 0.02% |
1,911,303
-149,592
| -7% | -$6.16M |
|
707
First American
FAF
$7.76B
| $81.7M | 0.02% |
1,044,855
| – | – |
|
|
BLD
708
DELISTED
TopBuild
BLD
| $81.7M | 0.02% |
296,143
+11,700
| +4% | +$2.99M |
|
709
BCE
BCE
$20.5B
| $81.6M | 0.02% |
1,567,378
-286,255
| -15% | -$14.6M |
|
710
Clarivate
CLVT
$1.26B
| $81.4M | 0.02% |
3,461,758
-475,349
| -12% | -$11M |
|
711
Aramark
ARMK
$14.8B
| $81.4M | 0.02% |
3,058,912
-813,534
| -21% | -$21.3M |
|
712
Zillow
ZG
$8.47B
| $81.1M | 0.02% |
1,302,705
+336,513
| +35% | +$24.2M |
|
713
Toll Brothers
TOL
$14.3B
| $80.4M | 0.02% |
1,110,011
-16,823
| -1% | -$1.08M |
|
714
Amcor
AMCR
$21.8B
| $79.9M | 0.02% |
1,329,818
| – | – |
|
715
XPO
XPO
$23.8B
| $79.7M | 0.02% |
1,732,203
+273,355
| +19% | +$12.7M |
|
716
Newell Brands
NWL
$2.61B
| $79.5M | 0.02% |
3,639,931
-288,754
| -7% | -$6.52M |
|
717
NNN REIT
NNN
$8.97B
| $79.2M | 0.02% |
1,647,756
-10,928
| -0.7% | -$501K |
|
718
Littelfuse
LFUS
$11.8B
| $78.4M | 0.02% |
249,221
| – | – |
|
719
ITT
ITT
$18.3B
| $78.3M | 0.02% |
766,660
+6,748
| +0.9% | +$660K |
|
720
Huazhu Hotels Group
HTHT
$13B
| $78.3M | 0.02% |
2,096,358
-20,656
| -1% | -$903K |
|
|
GTM
721
ZoomInfo Technologies
GTM
$1.07B
| $78.3M | 0.02% |
1,219,223
+667,055
| +121% | +$44.7M |
|
722
DraftKings
DKNG
$11.7B
| $78.3M | 0.02% |
2,848,871
-66,404
| -2% | -$2.6M |
|
723
Howmet Aerospace
HWM
$115B
| $78.1M | 0.02% |
2,453,830
+1,730,604
| +239% | +$53.3M |
|
|
STOR
724
DELISTED
STORE Capital Corporation
STOR
| $77.8M | 0.02% |
2,261,055
-114
| -0% | -$3.87K |
|
725
FirstService
FSV
$6.21B
| $77.6M | 0.02% |
394,696
+28,708
| +8% | +$5.54M |
|
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.