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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
-3.69%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$459B
AUM Growth
-$27.6B
Cap. Flow
+$61.1M
Cap. Flow %
0.01%
Top 10 Hldgs %
23.45%
Holding
2,291
New
87
Increased
805
Reduced
864
Closed
129

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$2.21B
2
SHEL icon
Shell
SHEL
+$646M
3
SPGI icon
S&P Global
SPGI
+$609M
4
AMD icon
Advanced Micro Devices
AMD
+$575M
5
TMO icon
Thermo Fisher Scientific
TMO
+$533M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$2.17B
2
CVX icon
Chevron
CVX
+$1.22B
3
INFO
IHS Markit Ltd. Common Shares
INFO
+$579M
4
XLNX
Xilinx Inc
XLNX
+$487M
5
NUE icon
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
AGI icon
1151
Alamos Gold
AGI
$13B
$31.4M 0.01%
3,744,865
-369,514
-9% -$2.78M
MUSA icon
1152
Murphy USA
MUSA
$9.9B
$31.4M 0.01%
157,010
+19,689
+14% +$3.7M
DOO
1153
Bombardier Recreational Products
DOO
$4.68B
$31.3M 0.01%
382,040
– –
FCFS icon
1154
FirstCash
FCFS
$8.92B
$31.2M 0.01%
443,525
+18,519
+4% +$1.31M
PEB icon
1155
Pebblebrook Hotel Trust
PEB
$2.08B
$31M 0.01%
1,265,499
-72,352
-5% -$1.66M
CNMD icon
1156
CONMED
CNMD
$1.49B
$30.9M 0.01%
208,076
+19,745
+10% +$2.76M
PEGA icon
1157
Pegasystems
PEGA
$5.21B
$30.9M 0.01%
766,334
-32,138
-4% -$1.44M
AAL icon
1158
American Airlines Group
AAL
$10.6B
$30.9M 0.01%
1,691,409
+8,659
+0.5% +$147K
BSY icon
1159
Bentley Systems
BSY
$10.7B
$30.9M 0.01%
+698,300
New +$27.9M
TEX icon
1160
Terex
TEX
$7.47B
$30.8M 0.01%
864,728
– –
BNL icon
1161
Broadstone Net Lease
BNL
$4.06B
$30.8M 0.01%
1,412,824
– –
WSFS icon
1162
WSFS Financial
WSFS
$4.2B
$30.7M 0.01%
658,717
+193,037
+41% +$10M
SIX
1163
DELISTED
Six Flags Entertainment Corp.
SIX
$30.7M 0.01%
705,492
– –
WIX icon
1164
WIX.com
WIX
$2.55B
$30.6M 0.01%
293,222
+37,129
+14% +$4.05M
FIX icon
1165
Comfort Systems
FIX
$60.3B
$30.6M 0.01%
344,044
– –
AVA icon
1166
Avista
AVA
$3.22B
$30.6M 0.01%
678,082
-55,700
-8% -$2.45M
PPBI
1167
DELISTED
Pacific Premier Bancorp
PPBI
$30.6M 0.01%
864,334
– –
CATY icon
1168
Cathay General Bancorp
CATY
$4.26B
$30.5M 0.01%
681,097
-41,108
-6% -$1.89M
NEWR
1169
DELISTED
New Relic, Inc.
NEWR
$30.4M 0.01%
454,739
-73,898
-14% -$6.05M
AIN icon
1170
Albany International
AIN
$1.74B
$30.4M 0.01%
360,527
-16,785
-4% -$1.44M
BOH icon
1171
Bank of Hawaii
BOH
$3.12B
$30.2M 0.01%
359,763
+21,000
+6% +$1.81M
HBI
1172
DELISTED
Hanesbrands
HBI
$30.2M 0.01%
2,025,876
-113,632
-5% -$1.79M
CIXX
1173
DELISTED
CI Financial Corp.
CIXX
$30.1M 0.01%
1,896,481
– –
BCC icon
1174
Boise Cascade
BCC
$2.94B
$30M 0.01%
432,541
+83,000
+24% +$6.25M
KNSL icon
1175
Kinsale Capital Group
KNSL
$8.57B
$29.9M 0.01%
130,938
+7,207
+6% +$1.5M
45 46
47
48 49

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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.