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 | |
|---|---|---|---|---|---|---|
1401
Bread Financial
BFH
$4.54B
| $20M | ﹤0.01% |
355,697
-24,776
| -7% | -$1.62M |
|
1402
Mueller Water Products
MWA
$4.13B
| $19.9M | ﹤0.01% |
1,539,737
-93,049
| -6% | -$1.2M |
|
1403
Graham Holdings Company
GHC
$5.14B
| $19.9M | ﹤0.01% |
32,474
| – | – |
|
1404
J&J Snack Foods
JJSF
$1.59B
| $19.8M | ﹤0.01% |
127,665
| – | – |
|
|
JWN
1405
DELISTED
Nordstrom
JWN
| $19.8M | ﹤0.01% |
729,286
-208,509
| -22% | -$4.88M |
|
1406
Towne Bank
TOWN
$3.5B
| $19.8M | ﹤0.01% |
660,179
+35,393
| +6% | +$1.11M |
|
1407
Cannae Holdings
CNNE
$654M
| $19.7M | ﹤0.01% |
825,132
+30,121
| +4% | +$848K |
|
|
MNTV
1408
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $19.7M | ﹤0.01% |
1,212,828
-650,200
| -35% | -$10.9M |
|
1409
Four Corners Property Trust
FCPT
$2.77B
| $19.7M | ﹤0.01% |
728,026
| – | – |
|
1410
McGrath RentCorp
MGRC
$2.96B
| $19.7M | ﹤0.01% |
231,431
-19,240
| -8% | -$1.53M |
|
1411
Hope Bancorp
HOPE
$1.82B
| $19.7M | ﹤0.01% |
1,222,217
-22,464
| -2% | -$370K |
|
|
GAP
1412
The Gap Inc
GAP
$7.4B
| $19.6M | ﹤0.01% |
1,395,358
-164,003
| -11% | -$2.61M |
|
|
JOYY
1413
JOYY Inc
JOYY
$3.77B
| $19.6M | ﹤0.01% |
534,508
-32,284
| -6% | -$1.46M |
|
|
JOBS
1414
DELISTED
51job Inc
JOBS
| $19.6M | ﹤0.01% |
334,416
| – | – |
|
|
ELME
1415
Elme Communities
ELME
$146M
| $19.3M | ﹤0.01% |
758,765
| – | – |
|
|
FL
1416
DELISTED
Foot Locker
FL
| $19.3M | ﹤0.01% |
651,064
+54,964
| +9% | +$2.1M |
|
1417
Stratasys
SSYS
$778M
| $19.2M | ﹤0.01% |
757,369
| – | – |
|
1418
Equinox Gold
EQX
$8.14B
| $19.2M | ﹤0.01% |
2,326,743
-173,730
| -7% | -$1.22M |
|
1419
Blackbaud
BLKB
$2.08B
| $19.1M | ﹤0.01% |
319,648
-100,382
| -24% | -$6.55M |
|
1420
Appian
APPN
$2.2B
| $19.1M | ﹤0.01% |
314,229
-3,739
| -1% | -$212K |
|
1421
Grocery Outlet
GO
$975M
| $19.1M | ﹤0.01% |
582,451
-64,267
| -10% | -$1.79M |
|
1422
InterDigital
IDCC
$8.53B
| $19.1M | ﹤0.01% |
298,891
| – | – |
|
1423
Materion
MTRN
$6.18B
| $19.1M | ﹤0.01% |
222,378
+17,219
| +8% | +$1.47M |
|
1424
MP Materials
MP
$8.53B
| $18.9M | ﹤0.01% |
330,001
-3,810
| -1% | -$168K |
|
1425
Allogene Therapeutics
ALLO
$673M
| $18.9M | ﹤0.01% |
2,073,517
+444,100
| +27% | +$4.63M |
|
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.