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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
CWT icon
1201
California Water Service
CWT
$3.08B
$31.4M 0.01%
436,640
+21,000
+5% +$1.35M
MOG.A icon
1202
Moog Inc Class A
MOG.A
$12.9B
$31.3M 0.01%
386,110
-3,286
-0.8% -$255K
AVA icon
1203
Avista
AVA
$3.25B
$31.2M 0.01%
733,782
-127,090
-15% -$5.11M
ABCB icon
1204
Ameris Bancorp
ABCB
$5.97B
$31.1M 0.01%
627,011
+21,506
+4% +$1.11M
CATY icon
1205
Cathay General Bancorp
CATY
$4.29B
$31M 0.01%
722,205
-5,571
-0.8% -$240K
COKE icon
1206
Coca-Cola Consolidated
COKE
$12.3B
$31M 0.01%
500,720
-11,610
-2% -$573K
ZTO icon
1207
ZTO Express
ZTO
$18B
$31M 0.01%
1,098,671
-200,853
-15% -$6M
LHCG
1208
DELISTED
LHC Group LLC
LHCG
$31M 0.01%
225,861
+54,193
+32% +$7.4M
MGLN
1209
DELISTED
Magellan Health Services, Inc.
MGLN
$30.9M 0.01%
325,587
+89,700
+38% +$8.49M
HUBG icon
1210
HUB Group
HUBG
$2.91B
$30.9M 0.01%
733,442
-30,754
-4% -$1.22M
DAN icon
1211
Dana Inc
DAN
$3.01B
$30.8M 0.01%
1,350,861
-177,800
-12% -$4.13M
GWB
1212
DELISTED
Great Western Bancorp, Inc.
GWB
$30.8M 0.01%
906,717
+243,617
+37% +$8.32M
HLNE icon
1213
Hamilton Lane
HLNE
$5.56B
$30.8M 0.01%
296,959
+21,347
+8% +$2.19M
RRR icon
1214
Red Rock Resorts
RRR
$3.56B
$30.7M 0.01%
558,951
-12,494
-2% -$650K
ATRC icon
1215
AtriCure
ATRC
$2B
$30.7M 0.01%
442,072
+104,186
+31% +$7.57M
ENS icon
1216
EnerSys
ENS
$6.92B
$30.6M 0.01%
386,834
+9,800
+3% +$765K
BB icon
1217
BlackBerry
BB
$5.12B
$30.5M 0.01%
3,266,641
– –
UPBD icon
1218
Upbound Group
UPBD
$1.17B
$30.5M 0.01%
635,817
+17,200
+3% +$860K
ITCI
1219
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$30.5M 0.01%
583,207
+225,619
+63% +$9.48M
EVTC icon
1220
Evertec
EVTC
$1.93B
$30.5M 0.01%
610,151
-26,400
-4% -$1.22M
CELH icon
1221
Celsius Holdings
CELH
$7.45B
$30.5M 0.01%
1,225,734
-59,160
-5% -$1.64M
WIRE
1222
DELISTED
Encore Wire Corp
WIRE
$30.5M 0.01%
212,874
-30,390
-12% -$3.93M
BOKF icon
1223
BOK Financial
BOKF
$8.78B
$30.4M 0.01%
288,507
– –
FHI icon
1224
Federated Hermes
FHI
$4.78B
$30.3M 0.01%
806,914
+51,000
+7% +$1.77M
APLS
1225
DELISTED
Apellis Pharmaceuticals
APLS
$30.3M 0.01%
640,167
+129,989
+25% +$5.12M
47 48
49
50 51

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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.