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 | |
|---|---|---|---|---|---|---|
1901
Preferred Bank
PFBC
$1.27B
| $4.16M | ﹤0.01% |
56,200
| – | – |
|
1902
MINISO
MNSO
$3.7B
| $4.16M | ﹤0.01% |
533,716
+411,945
| +338% | +$3.79M |
|
1903
Buckle
BKE
$2.35B
| $4.13M | ﹤0.01% |
124,975
-28,300
| -18% | -$1.05M |
|
1904
Kelly Services Class A
KELYA
$528M
| $4.09M | ﹤0.01% |
188,752
-119,882
| -39% | -$2.33M |
|
1905
Kodiak Sciences
KOD
$2.68B
| $3.99M | ﹤0.01% |
517,216
+242,400
| +88% | +$9.46M |
|
|
INVX
1906
Innovex International
INVX
$2.21B
| $3.96M | ﹤0.01% |
106,015
-167,655
| -61% | -$4.81M |
|
1907
Tactile Systems Technology
TCMD
$680M
| $3.89M | ﹤0.01% |
+192,900
| New | +$3.37M |
|
1908
Republic Bancorp
RBCAA
$1.97B
| $3.88M | ﹤0.01% |
86,303
| – | – |
|
|
AD
1909
Array Digital Infrastructure
AD
$3.06B
| $3.87M | ﹤0.01% |
127,967
| – | – |
|
1910
Allegiant Air
ALGT
$2.82B
| $3.76M | ﹤0.01% |
23,140
-4,388
| -16% | -$740K |
|
1911
National Bank Holdings
NBHC
$1.94B
| $3.67M | ﹤0.01% |
91,200
| – | – |
|
1912
Liberty Latin America Class A
LILA
$1.69B
| $3.66M | ﹤0.01% |
555,303
| – | – |
|
|
SAVE
1913
DELISTED
Spirit Airlines, Inc.
SAVE
| $3.58M | ﹤0.01% |
163,756
+38,946
| +31% | +$891K |
|
1914
Transocean
RIG
$5.78B
| $3.58M | ﹤0.01% |
783,285
-6,048,986
| -89% | -$23M |
|
1915
ZipRecruiter
ZIP
$366M
| $3.55M | ﹤0.01% |
154,600
| – | – |
|
|
ALX
1916
Alexander's
ALX
$1.4B
| $3.53M | ﹤0.01% |
13,771
-3,434
| -20% | -$885K |
|
|
LGF.A
1917
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $3.51M | ﹤0.01% |
216,202
+38,419
| +22% | +$601K |
|
1918
CareDx
CDNA
$2.44B
| $3.44M | ﹤0.01% |
93,121
+11,002
| +13% | +$429K |
|
|
NVEE
1919
DELISTED
NV5 Global
NVEE
| $3.41M | ﹤0.01% |
102,400
| – | – |
|
1920
The Joint Corp
JYNT
$118M
| $3.41M | ﹤0.01% |
+96,300
| New | +$4.45M |
|
1921
Community Health Systems
CYH
$417M
| $3.34M | ﹤0.01% |
281,200
| – | – |
|
1922
Nu Holdings
NU
$69.2B
| $3.28M | ﹤0.01% |
425,000
-205,732
| -33% | -$1.65M |
|
|
FINV
1923
FinVolution Group
FINV
$1.16B
| $3.24M | ﹤0.01% |
816,352
| – | – |
|
1924
Design Therapeutics
DSGN
$826M
| $3.23M | ﹤0.01% |
200,000
| – | – |
|
|
TUYA
1925
Tuya Inc
TUYA
$1.07B
| $3.21M | ﹤0.01% |
1,085,925
+427,560
| +65% | +$2.05M |
|
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.