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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
CAE icon
701
CAE Inc. Common Shares
CAE
$8.61B
$73M 0.02%
2,807,192
-30,717
-1% -$781K
RGA icon
702
Reinsurance Group of America
RGA
$15.5B
$73M 0.02%
666,860
-14,054
-2% -$1.55M
LII icon
703
Lennox International
LII
$15.1B
$72.8M 0.02%
282,515
-35,400
-11% -$9.72M
AGNC icon
704
AGNC Investment
AGNC
$12.6B
$72.7M 0.02%
5,550,085
+38,630
+0.7% +$540K
OHI icon
705
Omega Healthcare
OHI
$14.8B
$72.6M 0.02%
2,328,623
-34,302
-1% -$1.01M
TTC icon
706
Toro Company
TTC
$9.35B
$72.3M 0.02%
845,751
-110,808
-12% -$10.3M
WH icon
707
Wyndham Hotels & Resorts
WH
$5.58B
$72.1M 0.02%
851,651
+186,503
+28% +$15.9M
GIL icon
708
Gildan
GIL
$10.8B
$72.1M 0.02%
1,922,134
-29,465
-2% -$1.16M
VOYA icon
709
Voya Financial
VOYA
$9.2B
$71.7M 0.02%
1,080,499
-42,604
-4% -$2.91M
OLN icon
710
Olin
OLN
$2.14B
$71.6M 0.02%
1,370,156
-125,891
-8% -$6.44M
G icon
711
Genpact
G
$6.13B
$71.4M 0.02%
1,641,860
-31,637
-2% -$1.47M
CBSH icon
712
Commerce Bancshares
CBSH
$8.51B
$71.2M 0.02%
1,208,376
+93,520
+8% +$5.46M
CLVT icon
713
Clarivate
CLVT
$1.18B
$71M 0.02%
4,235,406
+773,648
+22% +$12.8M
CHE icon
714
Chemed
CHE
$7.18B
$71M 0.02%
140,110
+3,075
+2% +$1.47M
RS icon
715
Reliance Steel & Aluminium
RS
$21.3B
$70.9M 0.02%
386,508
-241,246
-38% -$41.7M
GWRE icon
716
Guidewire Software
GWRE
$13.3B
$70.6M 0.02%
745,640
+153,137
+26% +$14.6M
DAL icon
717
Delta Air Lines
DAL
$60.5B
$70.4M 0.02%
1,780,006
+73,280
+4% +$2.85M
SITE icon
718
SiteOne Landscape Supply
SITE
$4.3B
$70.2M 0.02%
434,102
+2,978
+0.7% +$541K
FND icon
719
Floor & Decor
FND
$6.39B
$70.1M 0.02%
865,687
+119,611
+16% +$12.1M
ORI icon
720
Old Republic International
ORI
$10.5B
$70.1M 0.02%
2,709,935
-94,149
-3% -$2.43M
KNX icon
721
Knight Transportation
KNX
$11.3B
$69.9M 0.02%
1,385,755
-243,914
-15% -$13.4M
TNDM icon
722
Tandem Diabetes Care
TNDM
$1.29B
$69.1M 0.02%
594,002
+4,614
+0.8% +$539K
RIVN icon
723
Rivian
RIVN
$22.3B
$68.9M 0.02%
1,372,294
-620,918
-31% -$37.8M
CHDN icon
724
Churchill Downs
CHDN
$6.06B
$68.6M 0.01%
618,282
-4,754
-0.8% -$523K
PNFP icon
725
Pinnacle Financial Partners Inc
PNFP
$16.1B
$68.5M 0.01%
744,221
+5,098
+0.7% +$504K
27 28
29
30 31

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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.