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 | |
|---|---|---|---|---|---|---|
176
AstraZeneca
AZN
$263B
| $542M | 0.11% |
4,654,339
-35,000
| -0.7% | -$4.12M |
|
177
Illumina
ILMN
$31B
| $533M | 0.11% |
1,439,278
+2,802
| +0.2% | +$1.06M |
|
178
Capital One
COF
$128B
| $529M | 0.11% |
3,643,378
-485,569
| -12% | -$75M |
|
|
FISV
179
Fiserv Inc
FISV
$28.8B
| $523M | 0.11% |
5,036,098
+1,170
| +0% | +$121K |
|
180
Palo Alto Networks
PANW
$270B
| $522M | 0.11% |
5,629,194
-99,498
| -2% | -$8.61M |
|
181
Simon Property Group
SPG
$74.4B
| $519M | 0.11% |
3,247,736
-91,087
| -3% | -$13.9M |
|
182
Synopsys
SNPS
$74.4B
| $515M | 0.11% |
1,398,284
-22,743
| -2% | -$7.67M |
|
183
IQVIA
IQV
$38.7B
| $509M | 0.1% |
1,805,569
-36,065
| -2% | -$9.36M |
|
|
ATVI
184
DELISTED
Activision Blizzard
ATVI
| $507M | 0.1% |
7,622,355
-1,185,059
| -13% | -$81M |
|
185
American International
AIG
$41.7B
| $507M | 0.1% |
8,911,229
+1,646,976
| +23% | +$93.8M |
|
186
Baker Hughes
BKR
$60B
| $501M | 0.1% |
20,832,453
+3,487,048
| +20% | +$86.1M |
|
187
Idexx Laboratories
IDXX
$44.1B
| $495M | 0.1% |
751,576
-9,168
| -1% | -$5.76M |
|
188
NXP Semiconductors
NXPI
$57.8B
| $493M | 0.1% |
2,162,245
-266,581
| -11% | -$56.7M |
|
189
Newmont
NEM
$98.7B
| $490M | 0.1% |
7,893,565
+759,605
| +11% | +$43M |
|
190
Halliburton
HAL
$26.9B
| $488M | 0.1% |
21,333,498
+3,081,891
| +17% | +$73M |
|
|
XLNX
191
DELISTED
Xilinx Inc
XLNX
| $487M | 0.1% |
2,298,658
-413,882
| -15% | -$81.6M |
|
192
Align Technology
ALGN
$12.1B
| $486M | 0.1% |
739,894
+11,993
| +2% | +$7.71M |
|
193
General Dynamics
GD
$104B
| $485M | 0.1% |
2,325,891
-55,951
| -2% | -$11.3M |
|
194
Sea Limited
SE
$65.4B
| $483M | 0.1% |
2,159,808
-376,383
| -15% | -$112M |
|
195
Canadian Imperial Bank of Commerce
CM
$108B
| $479M | 0.1% |
8,210,608
+852,784
| +12% | +$49.6M |
|
196
Mercado Libre
MELI
$95.2B
| $477M | 0.1% |
353,439
+8,099
| +2% | +$11.4M |
|
197
Baxter International
BAX
$13.5B
| $476M | 0.1% |
5,550,220
-93,536
| -2% | -$7.53M |
|
198
Kimberly-Clark
KMB
$36.3B
| $474M | 0.1% |
3,313,403
+115,097
| +4% | +$15.5M |
|
199
Centene
CNC
$30.7B
| $470M | 0.1% |
5,709,421
-49,852
| -0.9% | -$3.65M |
|
200
Amphenol
APH
$198B
| $467M | 0.1% |
10,671,318
-366,488
| -3% | -$14.8M |
|
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.