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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
-3.69%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$459B
AUM Growth
-$27.6B
Cap. Flow
+$61.1M
Cap. Flow %
0.01%
Top 10 Hldgs %
23.45%
Holding
2,291
New
87
Increased
805
Reduced
864
Closed
129

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$2.21B
2
SHEL icon
Shell
SHEL
+$646M
3
SPGI icon
S&P Global
SPGI
+$609M
4
AMD icon
Advanced Micro Devices
AMD
+$575M
5
TMO icon
Thermo Fisher Scientific
TMO
+$533M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$2.17B
2
CVX icon
Chevron
CVX
+$1.22B
3
INFO
IHS Markit Ltd. Common Shares
INFO
+$579M
4
XLNX
Xilinx Inc
XLNX
+$487M
5
NUE icon
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
SNPS icon
176
Synopsys
SNPS
$74.4B
$518M 0.11%
1,553,258
+154,974
+11% +$48.4M
FDX icon
177
FedEx
FDX
$72.7B
$517M 0.11%
2,232,178
-60,695
-3% -$14.3M
NEM icon
178
Newmont
NEM
$98.7B
$515M 0.11%
6,477,135
-1,416,430
-18% -$95.8M
DG icon
179
Dollar General
DG
$28B
$514M 0.11%
2,308,646
-14,469
-0.6% -$3.07M
GM icon
180
General Motors
GM
$80.4B
$512M 0.11%
11,698,370
-435,952
-4% -$21.8M
HAL icon
181
Halliburton
HAL
$26.9B
$511M 0.11%
13,481,219
-7,852,279
-37% -$254M
BNY
182
Bank of New York Mellon
BNY
$106B
$509M 0.11%
10,249,558
+692,345
+7% +$39.4M
MCO icon
183
Moody's
MCO
$82.8B
$507M 0.11%
1,501,246
+58,470
+4% +$19.7M
ADM icon
184
Archer Daniels Midland
ADM
$38.2B
$503M 0.11%
5,575,519
-373,288
-6% -$29.1M
ILMN icon
185
Illumina
ILMN
$31B
$498M 0.11%
1,465,696
+26,418
+2% +$8.92M
MCK icon
186
McKesson
MCK
$100B
$497M 0.11%
1,623,068
+67,254
+4% +$18.3M
FISV
187
Fiserv Inc
FISV
$28.8B
$497M 0.11%
4,897,420
-138,678
-3% -$14M
MMM icon
188
3M
MMM
$90.9B
$495M 0.11%
3,979,128
-35,989
-0.9% -$4.79M
MET icon
189
MetLife
MET
$61.9B
$482M 0.11%
6,852,564
-34,424
-0.5% -$2.33M
CDNS icon
190
Cadence Design Systems
CDNS
$93.6B
$479M 0.1%
2,910,706
+504,361
+21% +$77.4M
CTSH icon
191
Cognizant
CTSH
$24.9B
$479M 0.1%
5,338,219
+90,929
+2% +$7.99M
CMG icon
192
Chipotle Mexican Grill
CMG
$47.2B
$478M 0.1%
15,116,000
+2,247,850
+17% +$67.7M
APTV icon
193
Aptiv
APTV
$12B
$476M 0.1%
3,972,102
+667,937
+20% +$88.9M
HST icon
194
Host Hotels & Resorts
HST
$17.2B
$472M 0.1%
24,280,749
– –
SHW icon
195
Sherwin-Williams
SHW
$82.7B
$471M 0.1%
1,885,877
-12,079
-0.6% -$3.34M
TT icon
196
Trane Technologies
TT
$100B
$469M 0.1%
3,069,227
+207,231
+7% +$33.9M
L icon
197
Loews
L
$23.9B
$458M 0.1%
7,071,045
-277,024
-4% -$17M
MFC icon
198
Manulife Financial
MFC
$73.9B
$455M 0.1%
21,339,758
+2,338,467
+12% +$47.9M
BKR icon
199
Baker Hughes
BKR
$60B
$453M 0.1%
12,444,835
-8,387,618
-40% -$255M
COF icon
200
Capital One
COF
$128B
$451M 0.1%
3,436,635
-206,743
-6% -$30.1M
6 7
8
9 10

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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.