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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
ZWS icon
901
Zurn Elkay Water Solutions
ZWS
$8.79B
$53.7M 0.01%
1,474,782
-1,117,772
-43% -$40.2M
ETR icon
902
Entergy
ETR
$50.1B
$53.5M 0.01%
950,192
+121,772
+15% +$6.4M
WWD icon
903
Woodward
WWD
$22.2B
$53.4M 0.01%
487,946
+34,812
+8% +$3.91M
EEFT icon
904
Euronet Worldwide
EEFT
$2.88B
$53.4M 0.01%
447,771
+17,367
+4% +$2.06M
OZK icon
905
Bank OZK
OZK
$5.66B
$53.3M 0.01%
1,145,827
-35,152
-3% -$1.6M
TMX
906
DELISTED
Terminix Global Holdings, Inc.
TMX
$53.2M 0.01%
1,175,278
– –
GDS icon
907
GDS Holdings
GDS
$6.64B
$53M 0.01%
1,124,369
-173,954
-13% -$9.59M
RDS.A
908
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$53M 0.01%
1,221,000
+1,211,000
+12,110% +$54.7M
CLH icon
909
Clean Harbors
CLH
$16.3B
$52.8M 0.01%
529,661
– –
SON icon
910
Sonoco
SON
$5.79B
$52.8M 0.01%
912,316
-649
-0.1% -$38.8K
CXT icon
911
Crane NXT
CXT
$3.09B
$52.6M 0.01%
1,488,765
+30,793
+2% +$1.07M
ARNA
912
DELISTED
Arena Pharmaceuticals Inc
ARNA
$52.6M 0.01%
565,956
+20,599
+4% +$1.36M
NFG icon
913
National Fuel Gas
NFG
$7.57B
$52.4M 0.01%
819,186
+112,300
+16% +$6.71M
RARE icon
914
Ultragenyx Pharmaceutical
RARE
$2.47B
$52.3M 0.01%
621,576
+59,038
+10% +$4.8M
NTLA icon
915
Intellia Therapeutics
NTLA
$1.56B
$52.2M 0.01%
441,760
-170,376
-28% -$21.3M
ICUI icon
916
ICU Medical
ICUI
$4.19B
$52M 0.01%
219,206
+19,223
+10% +$4.49M
SKX
917
DELISTED
Skechers
SKX
$51.9M 0.01%
1,195,268
-68,273
-5% -$3.06M
VRNS icon
918
Varonis Systems
VRNS
$5.04B
$51.7M 0.01%
1,059,553
+182,771
+21% +$10.4M
EXLS icon
919
EXL Service
EXLS
$5.11B
$51.7M 0.01%
1,784,190
+124,500
+8% +$3.28M
FFIN icon
920
First Financial Bankshares
FFIN
$5.06B
$51.6M 0.01%
1,015,399
-8,924
-0.9% -$453K
UPST icon
921
Upstart Holdings
UPST
$3.02B
$51.6M 0.01%
340,734
+105,719
+45% +$26.4M
CRUS icon
922
Cirrus Logic
CRUS
$6.6B
$51.5M 0.01%
560,130
-11,273
-2% -$937K
CDK
923
DELISTED
CDK Global, Inc.
CDK
$51.5M 0.01%
1,232,837
+25,497
+2% +$1.07M
PRI icon
924
Primerica
PRI
$9.91B
$51.4M 0.01%
335,600
+11,500
+4% +$1.82M
FLNC icon
925
Fluence Energy
FLNC
$1.97B
$51.3M 0.01%
+1,443,762
New +$49.3M
35 36
37
38 39

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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.