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 | |
|---|---|---|---|---|---|---|
826
Encompass Health
EHC
$11B
| $61.8M | 0.01% |
1,190,247
+43,309
| +4% | +$2.23M |
|
827
Element Solutions
ESI
$9.36B
| $61.5M | 0.01% |
2,534,540
+169,320
| +7% | +$4M |
|
|
COHR
828
DELISTED
Coherent Inc
COHR
| $61.4M | 0.01% |
230,276
| – | – |
|
829
Valvoline
VVV
$4.67B
| $61.3M | 0.01% |
1,643,858
| – | – |
|
830
KBR
KBR
$4.6B
| $61.3M | 0.01% |
1,286,754
-118,000
| -8% | -$5.21M |
|
831
Under Armour Class C
UA
$2.84B
| $61.2M | 0.01% |
3,395,037
+867,447
| +34% | +$16.9M |
|
832
CACI
CACI
$11.4B
| $60.9M | 0.01% |
226,235
| – | – |
|
833
Curtiss-Wright
CW
$27.9B
| $60.9M | 0.01% |
439,141
+55,890
| +15% | +$7.38M |
|
834
Zoom
ZM
$29.2B
| $60.8M | 0.01% |
330,442
-599,800
| -64% | -$141M |
|
835
Sensata Technologies
ST
$7.06B
| $60.7M | 0.01% |
984,353
-539,478
| -35% | -$31.4M |
|
836
Carnival Corporation Ltd
CCL
$40.7B
| $60.7M | 0.01% |
3,015,561
+285,157
| +10% | +$6.1M |
|
837
WEX
WEX
$6.44B
| $60.5M | 0.01% |
431,269
-14,586
| -3% | -$2.23M |
|
|
ZNGA
838
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $60.5M | 0.01% |
9,455,775
-732,272
| -7% | -$5.05M |
|
839
Alkermes
ALKS
$8.51B
| $60.5M | 0.01% |
2,599,310
+1,069,343
| +70% | +$28.1M |
|
840
Lazard
LAZ
$4.29B
| $60.4M | 0.01% |
1,384,206
| – | – |
|
|
CIT
841
DELISTED
CIT Group Inc.
CIT
| $60.4M | 0.01% |
1,175,669
+125,700
| +12% | +$6.4M |
|
842
Atkore
ATKR
$3.16B
| $60.3M | 0.01% |
542,632
+191,212
| +54% | +$19.4M |
|
|
PLAN
843
DELISTED
Anaplan, Inc.
PLAN
| $60.3M | 0.01% |
1,314,878
| – | – |
|
844
Ingredion
INGR
$6.45B
| $60.2M | 0.01% |
623,219
-49,300
| -7% | -$4.74M |
|
845
Affiliated Managers Group
AMG
$10.1B
| $60.2M | 0.01% |
366,008
+5,045
| +1% | +$846K |
|
846
Interactive Brokers
IBKR
$40B
| $60.2M | 0.01% |
3,030,644
| – | – |
|
847
Organon & Co
OGN
$3.56B
| $60.1M | 0.01% |
1,974,938
-738,299
| -27% | -$24M |
|
848
Ashland
ASH
$3.28B
| $60.1M | 0.01% |
558,361
-1,422,478
| -72% | -$143M |
|
849
Wyndham Hotels & Resorts
WH
$5.71B
| $59.6M | 0.01% |
665,148
+243,120
| +58% | +$20.3M |
|
850
Goodyear
GT
$2.03B
| $59.1M | 0.01% |
2,772,853
| – | – |
|
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.