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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
FLS icon
1076
Flowserve
FLS
$10.1B
$39.6M 0.01%
1,294,252
-11,662
-0.9% -$386K
MNTV
1077
DELISTED
Momentive Global Inc. Common Stock
MNTV
$39.4M 0.01%
1,863,028
+803,014
+76% +$17.7M
IRTC icon
1078
iRhythm Holdings
IRTC
$4.09B
$39.4M 0.01%
334,389
-15,947
-5% -$1.46M
CALX icon
1079
Calix
CALX
$2.42B
$39.3M 0.01%
491,891
+329,000
+202% +$21.5M
ALSN icon
1080
Allison Transmission
ALSN
$9.8B
$39.2M 0.01%
1,077,170
– –
HHH icon
1081
Howard Hughes
HHH
$3.92B
$39.1M 0.01%
402,530
-9,675
-2% -$847K
FWONA icon
1082
Liberty Media Series A
FWONA
$22.1B
$39M 0.01%
687,291
-18,983
-3% -$981K
MRVI icon
1083
Maravai LifeSciences
MRVI
$946M
$39M 0.01%
931,729
+95,149
+11% +$3.85M
GRFS
1084
Grifois
GRFS
$5.4B
$39M 0.01%
3,469,150
– –
PCOR icon
1085
Procore
PCOR
$8.46B
$38.9M 0.01%
486,250
-242,027
-33% -$21.2M
NEOG icon
1086
Neogen
NEOG
$2.49B
$38.8M 0.01%
855,053
-65,863
-7% -$2.82M
COTY icon
1087
Coty
COTY
$2.49B
$38.7M 0.01%
3,689,261
+486,301
+15% +$4.56M
HRI icon
1088
Herc Holdings
HRI
$5.64B
$38.5M 0.01%
245,980
+27,565
+13% +$4.87M
AEO icon
1089
American Eagle Outfitters
AEO
$2.99B
$38.5M 0.01%
1,519,315
+76,161
+5% +$1.94M
BEKE icon
1090
KE Holdings
BEKE
$18.7B
$38.5M 0.01%
1,911,033
-653,785
-25% -$13.4M
BYND icon
1091
Beyond Meat
BYND
$314M
$38.3M 0.01%
587,119
+13,077
+2% +$1.11M
UBSI icon
1092
United Bankshares
UBSI
$6.72B
$38.2M 0.01%
1,054,253
+67,476
+7% +$2.48M
GTLS
1093
DELISTED
Chart Industries
GTLS
$38.2M 0.01%
239,693
+53,514
+29% +$9.46M
M icon
1094
Macy's
M
$6.71B
$38.2M 0.01%
1,457,336
+467,976
+47% +$12.8M
ACIW icon
1095
ACI Worldwide
ACIW
$5.88B
$38.1M 0.01%
1,099,070
-267,787
-20% -$8.59M
FNB icon
1096
FNB Corp
FNB
$6.84B
$38.1M 0.01%
3,143,346
-342,300
-10% -$4.14M
DOC
1097
DELISTED
PHYSICIANS REALTY TRUST
DOC
$38M 0.01%
2,020,430
-9,222
-0.5% -$170K
TEX icon
1098
Terex
TEX
$7.55B
$38M 0.01%
864,728
+25,621
+3% +$1.15M
MSM icon
1099
MSC Industrial Direct
MSM
$7.01B
$37.9M 0.01%
450,405
+61,567
+16% +$5.15M
LSXMA
1100
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$37.8M 0.01%
1,012,482
– –
42 43
44
45 46

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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.