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 |
Walmart Inc
WMT
|
+$629M |
| 2 |
T-Mobile US
TMUS
|
+$562M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$500M |
| 4 |
Autodesk
ADSK
|
+$426M |
| 5 |
Qualcomm
QCOM
|
+$353M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$894M |
| 2 |
Apple
AAPL
|
+$645M |
| 3 |
Visa
V
|
+$405M |
| 4 |
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 | 11.89% |
| 5 | Communication Services | 9.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Regeneron Pharmaceuticals
REGN
$74.7B
| $609M | 0.13% |
964,691
-15,695
| -2% | -$9.65M |
|
152
Stellantis
STLA
$16.9B
| $608M | 0.12% |
32,017,909
-2,919,256
| -8% | -$56.3M |
|
153
Kilroy Realty
KRC
$4.61B
| $602M | 0.12% |
9,057,009
| – | – |
|
154
KLA
KLAC
$244B
| $599M | 0.12% |
13,918,600
-1,309,880
| -9% | -$50.6M |
|
155
HCA Healthcare
HCA
$85B
| $596M | 0.12% |
2,321,329
-103,546
| -4% | -$25.3M |
|
156
3M
MMM
$91.2B
| $596M | 0.12% |
4,015,117
-105,900
| -3% | -$15.8M |
|
157
Uber
UBER
$142B
| $594M | 0.12% |
14,178,129
-1,209,350
| -8% | -$52.1M |
|
158
FedEx
FDX
$73.4B
| $593M | 0.12% |
2,292,873
-65,040
| -3% | -$15.6M |
|
159
Vertex Pharmaceuticals
VRTX
$121B
| $589M | 0.12% |
2,679,899
+153,719
| +6% | +$29.9M |
|
160
Chubb
CB
$134B
| $581M | 0.12% |
3,006,671
-15,343
| -0.5% | -$2.88M |
|
161
Weyerhaeuser
WY
$17.3B
| $580M | 0.12% |
14,085,485
-26,172
| -0.2% | -$994K |
|
|
INFO
162
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $579M | 0.12% |
4,357,372
+173,379
| +4% | +$22.1M |
|
163
Trane Technologies
TT
$101B
| $578M | 0.12% |
2,861,996
+561,054
| +24% | +$106M |
|
|
WCN
164
Waste Connections
WCN
$41.5B
| $576M | 0.12% |
4,225,217
+117,241
| +3% | +$15.6M |
|
165
Automatic Data Processing
ADP
$104B
| $566M | 0.12% |
2,297,177
-899,581
| -28% | -$204M |
|
166
Humana
HUM
$44.5B
| $564M | 0.12% |
1,214,923
-51,604
| -4% | -$22.8M |
|
167
Moody's
MCO
$82.7B
| $564M | 0.12% |
1,442,776
-32,635
| -2% | -$12.6M |
|
168
Boston Scientific
BSX
$67.6B
| $563M | 0.12% |
13,255,827
-482,519
| -4% | -$20.3M |
|
169
Fidelity National Information Services
FIS
$23.4B
| $562M | 0.12% |
5,153,287
-185,446
| -3% | -$21M |
|
170
Progressive
PGR
$122B
| $561M | 0.12% |
5,464,322
-154,046
| -3% | -$14.7M |
|
171
Emerson Electric
EMR
$84.2B
| $558M | 0.11% |
6,003,830
-15,104
| -0.3% | -$1.42M |
|
|
BNY
172
Bank of New York Mellon
BNY
$106B
| $555M | 0.11% |
9,557,213
-280,442
| -3% | -$16.1M |
|
173
Johnson Controls International
JCI
$89.4B
| $552M | 0.11% |
6,793,366
-131,874
| -2% | -$9.97M |
|
174
Dollar General
DG
$27.9B
| $548M | 0.11% |
2,323,115
-46,618
| -2% | -$10.3M |
|
175
Aptiv
APTV
$12.2B
| $545M | 0.11% |
3,304,165
-737,145
| -18% | -$123M |
|
Similar funds
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.