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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
YETI icon
851
Yeti Holdings
YETI
$4.06B
$59.1M 0.01%
713,019
– –
NATI
852
DELISTED
National Instruments Corp
NATI
$59M 0.01%
1,352,100
-13,145
-1% -$559K
KRNT icon
853
Kornit Digital
KRNT
$785M
$59M 0.01%
387,522
+11,000
+3% +$1.69M
SRPT icon
854
Sarepta Therapeutics
SRPT
$1.74B
$59M 0.01%
654,753
+19,045
+3% +$1.63M
SEIC icon
855
SEI Investments
SEIC
$12.6B
$58.9M 0.01%
966,499
-4,442
-0.5% -$275K
SLAB icon
856
Silicon Laboratories
SLAB
$7.2B
$58.8M 0.01%
284,621
-89,036
-24% -$16.4M
SRC
857
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
$58.7M 0.01%
1,218,280
+32,028
+3% +$1.52M
IPGP icon
858
IPG Photonics
IPGP
$4.04B
$58.6M 0.01%
340,258
+93,049
+38% +$15.4M
RPD icon
859
Rapid7
RPD
$742M
$58.6M 0.01%
497,505
+150,031
+43% +$18.5M
AMN icon
860
AMN Healthcare
AMN
$1.28B
$58.5M 0.01%
477,958
+35,040
+8% +$3.89M
IAA
861
DELISTED
IAA, Inc. Common Stock
IAA
$58.4M 0.01%
1,154,505
-16,439
-1% -$874K
WCC
862
WESCO International
WCC
$18.4B
$58.3M 0.01%
443,320
-18,529
-4% -$2.37M
FOXF icon
863
Fox Factory Holding Corp
FOXF
$829M
$58.3M 0.01%
342,886
+29,400
+9% +$4.92M
PB icon
864
Prosperity Bancshares
PB
$8.97B
$58.3M 0.01%
806,665
– –
NEWR
865
DELISTED
New Relic, Inc.
NEWR
$58.1M 0.01%
528,637
+71,506
+16% +$6.9M
MRTX
866
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$58M 0.01%
395,724
+40,077
+11% +$6.22M
WHR icon
867
Whirlpool
WHR
$2.97B
$57.9M 0.01%
246,767
-53,080
-18% -$11.7M
OGE icon
868
OGE Energy
OGE
$9.65B
$57.7M 0.01%
1,502,744
+141,033
+10% +$4.94M
MTH icon
869
Meritage Homes
MTH
$4.88B
$57.6M 0.01%
943,360
+123,566
+15% +$6.9M
PATH icon
870
UiPath
PATH
$7.18B
$57.5M 0.01%
+1,333,955
New +$65.8M
AGR
871
DELISTED
Avangrid, Inc.
AGR
$57.3M 0.01%
1,149,700
-159,941
-12% -$8.11M
MEDP icon
872
Medpace
MEDP
$16.3B
$57.3M 0.01%
263,478
+4,943
+2% +$1.04M
PRFT
873
DELISTED
Perficient Inc
PRFT
$57.3M 0.01%
443,328
+75,700
+21% +$9.96M
MAT icon
874
Mattel
MAT
$4.23B
$57.1M 0.01%
2,647,663
-96,722
-4% -$2.03M
CUZ icon
875
Cousins Properties
CUZ
$5.08B
$56.9M 0.01%
1,413,190
-4,376
-0.3% -$172K
33 34
35
36 37

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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.