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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
MPC icon
201
Marathon Petroleum
MPC
$92.4B
$443M 0.1%
5,182,245
-1,253,961
-19% -$95.3M
DOC icon
202
Healthpeak Properties
DOC
$15.1B
$443M 0.1%
12,897,430
+13,653
+0.1% +$460K
MELI icon
203
Mercado Libre
MELI
$95.2B
$442M 0.1%
371,735
+18,296
+5% +$19.9M
ROP icon
204
Roper Technologies
ROP
$38.8B
$442M 0.1%
936,248
+45,193
+5% +$20.3M
BAX icon
205
Baxter International
BAX
$13.5B
$441M 0.1%
5,691,003
+140,783
+3% +$11.8M
JCI icon
206
Johnson Controls International
JCI
$88.8B
$441M 0.1%
6,728,252
-65,114
-1% -$4.48M
APH icon
207
Amphenol
APH
$198B
$434M 0.09%
11,516,154
+844,836
+8% +$32.7M
ORLY icon
208
O'Reilly Automotive
ORLY
$72.9B
$432M 0.09%
9,469,065
-84,015
-0.9% -$3.75M
SPG icon
209
Simon Property Group
SPG
$74.4B
$426M 0.09%
3,241,605
-6,131
-0.2% -$873K
IQV icon
210
IQVIA
IQV
$38.7B
$422M 0.09%
1,826,960
+21,391
+1% +$5.07M
AZO icon
211
AutoZone
AZO
$49.2B
$421M 0.09%
206,087
+5,695
+3% +$11.1M
IDXX icon
212
Idexx Laboratories
IDXX
$44.1B
$420M 0.09%
767,685
+16,109
+2% +$8.47M
VLO icon
213
Valero Energy
VLO
$90.1B
$419M 0.09%
4,124,716
+247,293
+6% +$21.5M
DLR icon
214
Digital Realty Trust
DLR
$69.7B
$416M 0.09%
2,931,030
+801,733
+38% +$116M
SNOW icon
215
Snowflake
SNOW
$102B
$412M 0.09%
1,796,608
-211,258
-11% -$54.6M
DRE
216
DELISTED
Duke Realty Corp.
DRE
$408M 0.09%
7,031,020
+227,675
+3% +$12.9M
CRWD icon
217
CrowdStrike
CRWD
$194B
$408M 0.09%
7,186,924
+378,084
+6% +$17.6M
EXR icon
218
Extra Space Storage
EXR
$31.3B
$405M 0.09%
1,969,689
+30,567
+2% +$6.08M
DXCM icon
219
DexCom
DXCM
$31.5B
$403M 0.09%
3,154,420
+95,140
+3% +$10.4M
HPQ icon
220
HP
HPQ
$24.9B
$402M 0.09%
11,064,866
-999,143
-8% -$36.9M
MCHP icon
221
Microchip Technology
MCHP
$40.3B
$399M 0.09%
5,305,343
-7,275
-0.1% -$548K
MAR icon
222
Marriott International
MAR
$98.3B
$396M 0.09%
2,255,286
-155,386
-6% -$25.8M
LHX icon
223
L3Harris
LHX
$51.6B
$390M 0.09%
1,571,325
+50,045
+3% +$11.7M
WOLF icon
224
Wolfspeed
WOLF
$1.23B
$390M 0.09%
3,422,960
+251,681
+8% +$25.4M
SYY icon
225
Sysco
SYY
$40.8B
$387M 0.08%
4,738,818
+202,969
+4% +$16.4M
7 8
9
10 11

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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.