Norges Bank Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$2.21B |
| 2 |
Shell
SHEL
|
+$646M |
| 3 |
S&P Global
SPGI
|
+$609M |
| 4 |
Advanced Micro Devices
AMD
|
+$575M |
| 5 |
Thermo Fisher Scientific
TMO
|
+$533M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$2.17B |
| 2 |
Chevron
CVX
|
+$1.22B |
| 3 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$579M |
| 4 |
XLNX
Xilinx Inc
XLNX
|
+$487M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
FOE
1326
DELISTED
Ferro Corporation
FOE
| $22.9M | 0.01% |
1,053,377
| – | – |
|
1327
MillerKnoll
MLKN
$1.62B
| $22.8M | 0.01% |
659,053
-17,464
| -3% | -$644K |
|
1328
Coca-Cola Consolidated
COKE
$12.5B
| $22.8M | 0.01% |
457,910
-42,810
| -9% | -$2.31M |
|
1329
Kennametal
KMT
$2.57B
| $22.6M | ﹤0.01% |
791,318
+386,300
| +95% | +$12.7M |
|
1330
Rush Enterprises Class A
RUSHA
$6.27B
| $22.6M | ﹤0.01% |
666,722
-26,500
| -4% | -$931K |
|
|
XHR
1331
Xenia Hotels & Resorts
XHR
$1.83B
| $22.6M | ﹤0.01% |
1,171,582
| – | – |
|
1332
Ingevity
NGVT
$2.66B
| $22.6M | ﹤0.01% |
352,311
+26,000
| +8% | +$1.74M |
|
1333
OR Royalties Inc
OR
$5.97B
| $22.6M | ﹤0.01% |
1,710,148
| – | – |
|
1334
Iovance Biotherapeutics
IOVA
$2.59B
| $22.5M | ﹤0.01% |
1,353,739
+52,289
| +4% | +$809K |
|
1335
Protolabs
PRLB
$2.14B
| $22.5M | ﹤0.01% |
426,011
| – | – |
|
1336
Verra Mobility
VRRM
$753M
| $22.5M | ﹤0.01% |
1,383,894
+116,200
| +9% | +$1.87M |
|
1337
Ormat Technologies
ORA
$6.65B
| $22.5M | ﹤0.01% |
275,177
+75,643
| +38% | +$5.54M |
|
1338
Nu Skin
NUS
$252M
| $22.5M | ﹤0.01% |
469,811
| – | – |
|
|
ROIC
1339
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $22.5M | ﹤0.01% |
1,158,387
-26,347
| -2% | -$492K |
|
1340
Plexus
PLXS
$7.31B
| $22.4M | ﹤0.01% |
274,407
-16,459
| -6% | -$1.37M |
|
1341
First Financial Bancorp
FFBC
$3.57B
| $22.4M | ﹤0.01% |
970,415
-32,174
| -3% | -$800K |
|
|
SASR
1342
DELISTED
Sandy Spring Bancorp Inc
SASR
| $22.3M | ﹤0.01% |
496,145
+48,300
| +11% | +$2.28M |
|
|
B
1343
DELISTED
Barnes Group Inc.
B
| $22.3M | ﹤0.01% |
554,174
+48,600
| +10% | +$2.18M |
|
1344
CBIZ
CBZ
$2.96B
| $22.3M | ﹤0.01% |
530,408
| – | – |
|
1345
Werner Enterprises
WERN
$2.24B
| $22.2M | ﹤0.01% |
542,546
-27,025
| -5% | -$1.19M |
|
|
PDM
1346
Piedmont Realty Trust
PDM
$1.19B
| $22.2M | ﹤0.01% |
1,290,566
| – | – |
|
|
FBC
1347
DELISTED
Flagstar Bancorp, Inc. New
FBC
| $22.2M | ﹤0.01% |
523,028
-95,200
| -15% | -$4.38M |
|
1348
Minerals Technologies
MTX
$2.37B
| $22.1M | ﹤0.01% |
334,153
| – | – |
|
1349
Dorman Products
DORM
$4.1B
| $22M | ﹤0.01% |
231,535
-5,291
| -2% | -$513K |
|
1350
American Eagle Outfitters
AEO
$2.98B
| $22M | ﹤0.01% |
1,309,113
-210,202
| -14% | -$4.44M |
|
Similar funds
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.