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 |
Alphabet (Google) Class C
GOOG
|
+$2.21B |
| 2 |
Shell
SHEL
|
+$646M |
| 3 |
S&P Global
SPGI
|
+$609M |
| 4 |
Advanced Micro Devices
AMD
|
+$575M |
| 5 |
Thermo Fisher Scientific
TMO
|
+$533M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$2.17B |
| 2 |
Chevron
CVX
|
+$1.22B |
| 3 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$579M |
| 4 |
XLNX
Xilinx Inc
XLNX
|
+$487M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
876
SSR Mining
SSRM
$5.87B
| $50.6M | 0.01% |
2,327,465
-165,717
| -7% | -$3.12M |
|
877
EXL Service
EXLS
$5.25B
| $50.5M | 0.01% |
1,763,465
-20,725
| -1% | -$527K |
|
878
MGIC Investment
MTG
$6.21B
| $50.5M | 0.01% |
3,726,297
-139,296
| -4% | -$2.09M |
|
879
NiSource
NI
$20.8B
| $50.3M | 0.01% |
1,581,506
+49,034
| +3% | +$1.42M |
|
880
Boyd Gaming
BYD
$6.11B
| $50.3M | 0.01% |
764,428
-11,578
| -1% | -$752K |
|
881
Affiliated Managers Group
AMG
$9.83B
| $50.3M | 0.01% |
356,711
-9,297
| -3% | -$1.34M |
|
882
B2Gold
BTG
$5.45B
| $50.2M | 0.01% |
10,936,787
-651,984
| -6% | -$2.62M |
|
883
Robinhood
HOOD
$81.6B
| $50.1M | 0.01% |
+3,705,375
| New | +$49.6M |
|
884
Interactive Brokers
IBKR
$38.8B
| $49.9M | 0.01% |
3,030,644
| – | – |
|
885
Selective Insurance
SIGI
$5.77B
| $49.9M | 0.01% |
558,820
-10,700
| -2% | -$871K |
|
886
Saic
SAIC
$5.25B
| $49.9M | 0.01% |
541,600
+1,675
| +0.3% | +$144K |
|
887
AMN Healthcare
AMN
$1.19B
| $49.9M | 0.01% |
477,958
| – | – |
|
|
CMBT
888
CMB.TECH NV
CMBT
$4.76B
| $49.9M | 0.01% |
4,677,743
-104,293
| -2% | -$1.03M |
|
|
UNVR
889
DELISTED
Univar Solutions Inc.
UNVR
| $49.8M | 0.01% |
1,550,826
| – | – |
|
890
Teradata
TDC
$2.51B
| $49.7M | 0.01% |
1,009,056
-63,911
| -6% | -$2.93M |
|
891
Independence Realty Trust
IRT
$4B
| $49.7M | 0.01% |
+1,879,063
| New | +$46.1M |
|
|
TGNA
892
DELISTED
TEGNA Inc
TGNA
| $49.6M | 0.01% |
2,215,584
-46,860
| -2% | -$984K |
|
893
Toll Brothers
TOL
$14.1B
| $49.4M | 0.01% |
1,050,705
-59,306
| -5% | -$3.32M |
|
894
ICU Medical
ICUI
$4.16B
| $49.3M | 0.01% |
221,577
+2,371
| +1% | +$531K |
|
895
Korn Ferry
KFY
$4.2B
| $49.2M | 0.01% |
757,468
+148,100
| +24% | +$9.96M |
|
896
Stevanato
STVN
$5.54B
| $49M | 0.01% |
2,434,614
+548,571
| +29% | +$9.56M |
|
897
Varonis Systems
VRNS
$4.87B
| $48.7M | 0.01% |
1,024,334
-35,219
| -3% | -$1.44M |
|
898
Zurn Elkay Water Solutions
ZWS
$8.6B
| $48.6M | 0.01% |
1,373,909
-100,873
| -7% | -$3.35M |
|
|
MNDT
899
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $48.6M | 0.01% |
2,178,365
+232,060
| +12% | +$4.29M |
|
900
RBC Bearings
RBC
$17.9B
| $48.5M | 0.01% |
250,108
+21,424
| +9% | +$4.09M |
|
Similar funds
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.