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 | 11.88% |
| 5 | Communication Services | 9.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CMRC
2001
Commerce.com Inc Series 1
CMRC
$262M
| $2.8M | ﹤0.01% |
79,044
+20,000
| +34% | +$941K |
|
2002
SelectQuote
SLQT
$133M
| $2.77M | ﹤0.01% |
305,483
-194,794
| -39% | -$2.14M |
|
2003
Zymeworks
ZYME
$1.6B
| $2.77M | ﹤0.01% |
168,700
+124,509
| +282% | +$2.6M |
|
|
ALLK
2004
DELISTED
Allakos
ALLK
| $2.73M | ﹤0.01% |
279,155
+18,713
| +7% | +$1.53M |
|
|
SAVE
2005
DELISTED
Spirit Airlines, Inc.
SAVE
| $2.73M | ﹤0.01% |
124,810
-93,505
| -43% | -$2.17M |
|
2006
Afya
AFYA
$1.3B
| $2.67M | ﹤0.01% |
169,853
-107,000
| -39% | -$1.72M |
|
2007
Tootsie Roll Industries
TR
$2.96B
| $2.63M | ﹤0.01% |
84,328
| – | – |
|
|
DM
2008
DELISTED
Desktop Metal, Inc.
DM
| $2.62M | ﹤0.01% |
52,838
+18,314
| +53% | +$1.23M |
|
|
BBLN
2009
DELISTED
Babylon Holdings Limited
BBLN
| $2.61M | ﹤0.01% |
+17,933
| New | +$3.82M |
|
|
CD
2010
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
| $2.57M | ﹤0.01% |
390,000
| – | – |
|
2011
Alignment Healthcare
ALHC
$3.02B
| $2.46M | ﹤0.01% |
175,040
| – | – |
|
2012
Ameresco
AMRC
$1.2B
| $2.45M | ﹤0.01% |
30,050
| – | – |
|
|
ITOS
2013
DELISTED
iTeos Therapeutics
ITOS
| $2.44M | ﹤0.01% |
+52,500
| New | +$1.75M |
|
2014
Alpha and Omega Semiconductor
AOSL
$942M
| $2.44M | ﹤0.01% |
40,200
| – | – |
|
2015
RLX Technology
RLX
$2.43B
| $2.42M | ﹤0.01% |
620,750
-3,950,382
| -86% | -$18.2M |
|
|
MRUS
2016
DELISTED
Merus
MRUS
| $2.38M | ﹤0.01% |
+75,000
| New | +$2.12M |
|
|
RDUS
2017
DELISTED
Radius Health, Inc.
RDUS
| $2.38M | ﹤0.01% |
344,577
| – | – |
|
2018
Vericel Corp
VCEL
$2.36B
| $2.24M | ﹤0.01% |
57,059
| – | – |
|
2019
XP
XP
$8.8B
| $2.24M | ﹤0.01% |
77,940
-1,603,709
| -95% | -$52.2M |
|
|
CAN
2020
Canaan Creative
CAN
$132M
| $2.22M | ﹤0.01% |
431,607
| – | – |
|
2021
GrowGeneration
GRWG
$88.3M
| $2.22M | ﹤0.01% |
170,023
| – | – |
|
2022
Relmada Therapeutics
RLMD
$556M
| $2.22M | ﹤0.01% |
98,500
| – | – |
|
2023
Cerus
CERS
$433M
| $2.21M | ﹤0.01% |
324,973
| – | – |
|
2024
Chewy
CHWY
$9.4B
| $2.19M | ﹤0.01% |
37,211
-1,840
| -5% | -$120K |
|
2025
Warner Bros
WBD
$65.4B
| $2.18M | ﹤0.01% |
92,455
+12,934
| +16% | +$322K |
|
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.