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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
ABM icon
1251
ABM Industries
ABM
$2.85B
$29.4M 0.01%
720,387
-6,547
-0.9% -$296K
MRCY icon
1252
Mercury Systems
MRCY
$6.53B
$29.4M 0.01%
533,627
+76,714
+17% +$3.89M
PRMW
1253
DELISTED
Primo Water Corporation
PRMW
$29.3M 0.01%
1,662,071
-35,990
-2% -$618K
VSAT icon
1254
Viasat
VSAT
$11.2B
$29.2M 0.01%
656,548
-33,244
-5% -$1.72M
EGHT icon
1255
8x8 Inc
EGHT
$325M
$29.1M 0.01%
1,739,043
+517,760
+42% +$10.9M
ADPT icon
1256
Adaptive Biotechnologies
ADPT
$3.91B
$29.1M 0.01%
1,038,623
+68,914
+7% +$2.11M
NWS icon
1257
News Corp Class B
NWS
$17.5B
$29.1M 0.01%
1,291,628
-206,323
-14% -$4.73M
ONB icon
1258
Old National Bancorp
ONB
$10.3B
$29M 0.01%
1,600,955
+11,669
+0.7% +$208K
NVRO
1259
DELISTED
NEVRO CORP.
NVRO
$28.9M 0.01%
356,692
+150,425
+73% +$15.1M
UDMY
1260
DELISTED
Udemy
UDMY
$28.8M 0.01%
+1,473,567
New +$35.3M
CNO icon
1261
CNO Financial Group
CNO
$5.13B
$28.7M 0.01%
1,205,594
-50,000
-4% -$1.23M
ESGR
1262
DELISTED
Enstar Group
ESGR
$28.7M 0.01%
116,056
-8,581
-7% -$2.04M
FULT icon
1263
Fulton Financial
FULT
$4.75B
$28.7M 0.01%
1,685,756
– –
KLIC icon
1264
Kulicke & Soffa
KLIC
$4.97B
$28.6M 0.01%
473,065
+2,319
+0.5% +$133K
PBH icon
1265
Prestige Consumer Healthcare
PBH
$2.5B
$28.5M 0.01%
469,885
-86,396
-16% -$5.13M
AX icon
1266
Axos Financial
AX
$5.87B
$28.4M 0.01%
507,811
– –
BOH icon
1267
Bank of Hawaii
BOH
$3.14B
$28.4M 0.01%
338,763
– –
PFSI icon
1268
PennyMac Financial
PFSI
$3.92B
$28.3M 0.01%
405,515
– –
SANM icon
1269
Sanmina
SANM
$10.9B
$28.3M 0.01%
681,830
-5,826
-0.8% -$229K
TROX icon
1270
Tronox
TROX
$920M
$28.2M 0.01%
1,175,412
-36,600
-3% -$876K
POST icon
1271
Post Holdings
POST
$4.02B
$28.2M 0.01%
382,518
-433,899
-53% -$29.8M
CVCO icon
1272
Cavco Industries
CVCO
$4.51B
$28.1M 0.01%
88,508
+4,451
+5% +$1.24M
SHAK icon
1273
Shake Shack
SHAK
$2.88B
$28.1M 0.01%
389,014
+102,800
+36% +$7.82M
CSTM icon
1274
Constellium
CSTM
$4.08B
$28M 0.01%
1,563,402
-91,200
-6% -$1.67M
FTDR icon
1275
Frontdoor
FTDR
$5.37B
$28M 0.01%
763,098
+11,811
+2% +$448K
49 50
51
52 53

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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.