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 | |
|---|---|---|---|---|---|---|
|
ACCD
1851
DELISTED
Accolade Inc
ACCD
| $5.5M | ﹤0.01% |
312,983
| – | – |
|
1852
F5
FFIV
$23.4B
| $5.47M | ﹤0.01% |
26,190
-586,230
| -96% | -$123M |
|
|
AAWW
1853
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $5.34M | ﹤0.01% |
+61,801
| New | +$5.08M |
|
|
TSC
1854
DELISTED
TriState Capital Holdings, Inc.
TSC
| $5.32M | ﹤0.01% |
160,000
-47,900
| -23% | -$1.53M |
|
1855
Forrester Research
FORR
$228M
| $5.31M | ﹤0.01% |
94,172
-28,500
| -23% | -$1.54M |
|
|
BNT
1856
Brookfield Wealth Solutions
BNT
$12.3B
| $5.28M | ﹤0.01% |
138,749
-6,454
| -4% | -$243K |
|
1857
Airbnb
ABNB
$89B
| $5.24M | ﹤0.01% |
+30,493
| New | +$4.86M |
|
1858
Clear Channel Outdoor Holdings
CCO
$1.24B
| $5.22M | ﹤0.01% |
1,509,000
+307,100
| +26% | +$1.04M |
|
1859
Rocket Pharmaceuticals
RCKT
$376M
| $5.21M | ﹤0.01% |
328,573
-154,206
| -32% | -$2.66M |
|
1860
The RealReal
REAL
$1.53B
| $5.2M | ﹤0.01% |
+716,400
| New | +$6.34M |
|
1861
Privia Health
PRVA
$3B
| $5.19M | ﹤0.01% |
194,200
-63,022
| -25% | -$1.49M |
|
1862
AdaptHealth
AHCO
$913M
| $5.17M | ﹤0.01% |
322,521
-158,562
| -33% | -$2.85M |
|
|
CSII
1863
DELISTED
Cardiovascular Systems, Inc.
CSII
| $5.15M | ﹤0.01% |
227,900
-52,424
| -19% | -$1.02M |
|
1864
Pennant Group
PNTG
$1.34B
| $5.15M | ﹤0.01% |
276,281
-75,045
| -21% | -$1.25M |
|
1865
Calix
CALX
$2.49B
| $5.1M | ﹤0.01% |
118,863
-373,028
| -76% | -$18.9M |
|
1866
Theravance Biopharma
TBPH
$875M
| $5.1M | ﹤0.01% |
533,094
| – | – |
|
|
SRNE
1867
DELISTED
Sorrento Therapeutics, Inc.
SRNE
| $5.09M | ﹤0.01% |
2,183,583
+1,255,291
| +135% | +$3.92M |
|
1868
Live Oak Bancshares
LOB
$2.02B
| $5.06M | ﹤0.01% |
99,389
-17,331
| -15% | -$1.11M |
|
1869
Inovio Pharmaceuticals
INO
$68.5M
| $5.04M | ﹤0.01% |
116,900
| – | – |
|
1870
ICL Group
ICL
$6.65B
| $5.03M | ﹤0.01% |
419,921
-312,297
| -43% | -$3.31M |
|
|
AMRS
1871
DELISTED
Amyris Inc.
AMRS
| $5.02M | ﹤0.01% |
1,151,246
+407,269
| +55% | +$1.83M |
|
1872
Adecoagro
AGRO
$1.33B
| $5.02M | ﹤0.01% |
415,500
| – | – |
|
1873
PMV Pharmaceuticals
PMVP
$62.4M
| $4.96M | ﹤0.01% |
+238,200
| New | +$4.2M |
|
|
CNR
1874
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $4.92M | ﹤0.01% |
202,200
| – | – |
|
1875
Abercrombie & Fitch
ANF
$4.9B
| $4.9M | ﹤0.01% |
153,236
-181,531
| -54% | -$6.3M |
|
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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.