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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
-3.87%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$376B
AUM Growth
-$10.7B
Cap. Flow
+$10.8B
Cap. Flow %
2.88%
Top 10 Hldgs %
23.71%
Holding
2,179
New
127
Increased
1,072
Reduced
569
Closed
90

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.03B
2
AAPL icon
Apple
AAPL
+$741M
3
MSFT icon
Microsoft
MSFT
+$710M
4
TSLA icon
Tesla
TSLA
+$495M
5
AMGN icon
Amgen
AMGN
+$474M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$915M
2
CI icon
Cigna
CI
+$517M
3
UBS icon
UBS Group
UBS
+$413M
4
MS icon
Morgan Stanley
MS
+$300M
5
AZN icon
AstraZeneca
AZN
+$279M

Sector Composition

Rank Sector Weight
1 Technology 23.58%
2 Financials 14.36%
3 Healthcare 14.17%
4 Consumer Discretionary 11.44%
5 Communication Services 8.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNS icon
151
Scotiabank
BNS
$107B
$518M 0.14%
10,902,509
+411,797
+4% +$23.5M
BSX icon
152
Boston Scientific
BSX
$69.5B
$516M 0.14%
13,325,922
+926,565
+7% +$37.2M
APH icon
153
Amphenol
APH
$198B
$512M 0.14%
15,289,698
+114,568
+0.8% +$4.16M
TT icon
154
Trane Technologies
TT
$101B
$508M 0.14%
3,511,061
+292,958
+9% +$43.8M
BMO icon
155
Bank of Montreal
BMO
$126B
$498M 0.13%
5,684,181
+39,656
+0.7% +$3.83M
CB icon
156
Chubb
CB
$135B
$497M 0.13%
2,731,257
+184,832
+7% +$35.1M
PH icon
157
Parker-Hannifin
PH
$123B
$495M 0.13%
2,042,168
+153,437
+8% +$41.5M
MAA icon
158
Mid-America Apartment Communities
MAA
$15.4B
$493M 0.13%
3,177,970
+317,078
+11% +$54.6M
ICE icon
159
Intercontinental Exchange
ICE
$85.6B
$490M 0.13%
5,421,180
-96,697
-2% -$9.7M
TRP icon
160
TC Energy
TRP
$70.2B
$489M 0.13%
12,160,410
+1,287,705
+12% +$63.8M
CNC icon
161
Centene
CNC
$30.7B
$486M 0.13%
6,242,139
+112,697
+2% +$10.1M
ADSK icon
162
Autodesk
ADSK
$49.5B
$478M 0.13%
2,557,997
-1,289,447
-34% -$261M
WY icon
163
Weyerhaeuser
WY
$18B
$477M 0.13%
16,692,834
-1,231,606
-7% -$41.9M
GD icon
164
General Dynamics
GD
$104B
$476M 0.13%
2,245,535
+48,615
+2% +$11M
KLAC icon
165
KLA
KLAC
$239B
$470M 0.12%
15,527,110
+37,380
+0.2% +$1.29M
CSX icon
166
CSX Corp
CSX
$93.4B
$470M 0.12%
17,637,801
-1,070,758
-6% -$33.3M
NTR icon
167
Nutrien
NTR
$33.2B
$458M 0.12%
5,503,871
+681,172
+14% +$58.6M
ORLY icon
168
O'Reilly Automotive
ORLY
$72.9B
$457M 0.12%
9,740,220
-141,180
-1% -$6.58M
CMG icon
169
Chipotle Mexican Grill
CMG
$47.2B
$453M 0.12%
15,057,950
-532,150
-3% -$16.5M
FISV
170
Fiserv Inc
FISV
$28.8B
$444M 0.12%
4,748,545
+103,301
+2% +$10.5M
VLO icon
171
Valero Energy
VLO
$92.9B
$442M 0.12%
4,137,813
-146,286
-3% -$16.1M
AME icon
172
Ametek
AME
$55.4B
$438M 0.12%
3,858,420
+610,329
+19% +$73.2M
GM icon
173
General Motors
GM
$80.4B
$436M 0.12%
13,575,352
+1,096,899
+9% +$40.3M
ADM icon
174
Archer Daniels Midland
ADM
$38.2B
$428M 0.11%
5,323,890
+46,943
+0.9% +$3.86M
NSC icon
175
Norfolk Southern
NSC
$75.4B
$426M 0.11%
2,033,524
+37,035
+2% +$8.91M
5 6
7
8 9

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Norges Bank's Q3 2022 Portfolio in Review

As of Q3 2022, Norges Bank held 2,179 positions worth $376B, down 2.8% from $387B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Norges Bank's Q3 2022 filing shows 127 new, 1,072 increased, 569 reduced and 90 closed positions. Its largest new stake was Neogen: 14,429,817 shares worth $202M. The largest sale was Alphabet (Google) Class C, an estimated $915M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 24% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q3 2022 buy was Neogen: 14,429,817 shares worth $202M.
  • Norges Bank added most to Alphabet (Google) Class A in Q3 2022, an estimated $1.03B increase.
  • Norges Bank's biggest Q3 2022 reduction was Alphabet (Google) Class C, cutting an estimated $915M.
  • Norges Bank fully exited SailPoint Technologies Holdings, Inc. Common Stock in Q3 2022, selling an estimated $93.7M.
  • Norges Bank's ten largest holdings make up 24% of its $376B portfolio in Q3 2022.
  • Norges Bank opened 127 new positions and closed 90 in Q3 2022.
  • Norges Bank's portfolio value fell 2.8% quarter-over-quarter to $376B.

Based on Norges Bank's 13F filing for Q3 2022, filed 14 Nov 2022.