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 | |
|---|---|---|---|---|---|---|
|
GES
1751
DELISTED
Guess Inc
GES
| $8.57M | ﹤0.01% |
392,310
+259,700
| +196% | +$5.63M |
|
|
AVTA
1752
DELISTED
Avantax, Inc. Common Stock
AVTA
| $8.51M | ﹤0.01% |
435,136
| – | – |
|
1753
Urban Outfitters
URBN
$6.65B
| $8.47M | ﹤0.01% |
337,191
-49,025
| -13% | -$1.34M |
|
1754
America Movil
AMX
$74.9B
| $8.46M | ﹤0.01% |
400,000
| – | – |
|
1755
Consensus Cloud Solutions
CCSI
$690M
| $8.44M | ﹤0.01% |
140,306
| – | – |
|
1756
Syndax Pharmaceuticals
SNDX
$1.7B
| $8.43M | ﹤0.01% |
484,900
| – | – |
|
1757
Fulgent Genetics
FLGT
$500M
| $8.33M | ﹤0.01% |
133,499
| – | – |
|
1758
Enviri
NVRI
$651M
| $8.33M | ﹤0.01% |
680,417
-35,227
| -5% | -$518K |
|
|
XM
1759
DELISTED
Qualtrics International Inc. Class A Common Stock
XM
| $8.33M | ﹤0.01% |
291,702
-433,900
| -60% | -$12.5M |
|
1760
FuboTV Inc
FUBO
$281M
| $8.32M | ﹤0.01% |
105,538
+51,090
| +94% | +$5.96M |
|
1761
Grupo Cibest SA
CIB
$21.6B
| $8.32M | ﹤0.01% |
195,000
-50,000
| -20% | -$1.8M |
|
1762
Globus Medical
GMED
$11.1B
| $8.28M | ﹤0.01% |
112,210
-559,503
| -83% | -$38.9M |
|
1763
Orion
OEC
$385M
| $8.26M | ﹤0.01% |
517,076
-42,162
| -8% | -$726K |
|
|
CWAN
1764
DELISTED
Clearwater Analytics
CWAN
| $8.22M | ﹤0.01% |
391,287
-25,000
| -6% | -$467K |
|
1765
Benchmark Electronics
BHE
$2.91B
| $8.17M | ﹤0.01% |
326,345
-40,322
| -11% | -$1.03M |
|
|
KZR
1766
DELISTED
Kezar Life Sciences
KZR
| $8.17M | ﹤0.01% |
49,150
| – | – |
|
|
CVSA
1767
Covista Inc
CVSA
$4.34B
| $8.14M | ﹤0.01% |
274,110
-209,944
| -43% | -$5.64M |
|
|
DVAX
1768
DELISTED
Dynavax Technologies
DVAX
| $8.13M | ﹤0.01% |
750,000
| – | – |
|
1769
TriMas Corp
TRS
$1.45B
| $7.92M | ﹤0.01% |
246,869
-61,900
| -20% | -$2.06M |
|
1770
Choice Hotels
CHH
$4.93B
| $7.89M | ﹤0.01% |
55,670
-229,314
| -80% | -$33M |
|
1771
DoubleVerify
DV
$1.8B
| $7.82M | ﹤0.01% |
+310,830
| New | +$8.09M |
|
|
TSP
1772
DELISTED
TuSimple Holdings Inc. Class A Common Stock
TSP
| $7.72M | ﹤0.01% |
632,924
| – | – |
|
1773
Dillards
DDS
$9.57B
| $7.66M | ﹤0.01% |
28,528
-10,083
| -26% | -$2.6M |
|
|
VNET
1774
VNET Group
VNET
$2.06B
| $7.64M | ﹤0.01% |
1,311,215
| – | – |
|
|
DCH
1775
Dauch Corp
DCH
$1.38B
| $7.63M | ﹤0.01% |
982,890
| – | – |
|
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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.