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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
+11.12%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$486B
AUM Growth
+$34.4B
Cap. Flow
-$6.45B
Cap. Flow %
-1.33%
Top 10 Hldgs %
23.63%
Holding
2,366
New
96
Increased
712
Reduced
1,022
Closed
162

Top Buys

Rank Stock Value
1
WMT icon
Walmart Inc
WMT
+$629M
2
TMUS icon
T-Mobile US
TMUS
+$562M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$500M
4
ADSK icon
Autodesk
ADSK
+$426M
5
QCOM icon
Qualcomm
QCOM
+$353M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$894M
2
AAPL icon
Apple
AAPL
+$645M
3
V icon
Visa
V
+$405M
4
NET icon
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
IVC
2326
DELISTED
Invacare Corporation
IVC
– –
-121,600
Closed -$579K
POSH
2327
DELISTED
Poshmark, Inc. Class A Common Stock
POSH
– –
-10,000
Closed -$238K
AERI
2328
DELISTED
Aerie Pharmaceuticals
AERI
– –
-201,601
Closed -$2.3M
TEN
2329
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
– –
-146,600
Closed -$2.09M
GNOG
2330
DELISTED
Golden Nugget Online Gaming, Inc. Class A Common Stock
GNOG
– –
-279,100
Closed -$4.85M
LEVL
2331
DELISTED
Level One Bancorp, Inc. Common Stock
LEVL
– –
-10,200
Closed -$300K
GSKY
2332
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
– –
-1,193,200
Closed -$13.3M
MCFE
2333
DELISTED
McAfee Corp. Class A Common Stock
MCFE
– –
-386,258
Closed -$8.54M
ACBI
2334
DELISTED
Atlantic Capital Bancshares, Inc. Common Stock
ACBI
– –
-145,148
Closed -$3.85M
DRNA
2335
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
– –
-303,591
Closed -$6.12M
COR
2336
DELISTED
Coresite Realty Corporation
COR
– –
-355,465
Closed -$49.2M
KSU
2337
DELISTED
Kansas City Southern
KSU
– –
-929,175
Closed -$251M
HRC
2338
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
– –
-631,655
Closed -$94.7M
PPD
2339
DELISTED
PPD, Inc. Common Stock
PPD
– –
-2,105,470
Closed -$98.5M
CXP
2340
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
– –
-1,048,336
Closed -$19.9M
DSPG
2341
DELISTED
DSP Group Inc
DSPG
– –
-241,786
Closed -$5.3M
MDP
2342
DELISTED
Meredith Corporation
MDP
– –
-467,231
Closed -$26M
CVA
2343
DELISTED
Covanta Holding Corporation
CVA
– –
-5,039,572
Closed -$101M
RAVN
2344
DELISTED
Raven Industries Inc
RAVN
– –
-403,278
Closed -$23.2M
INOV
2345
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
– –
-627,677
Closed -$25.3M
ECHO
2346
DELISTED
Echo Global Logistics, Inc.
ECHO
– –
-266,300
Closed -$12.7M
XLRN
2347
DELISTED
Acceleron Pharma
XLRN
– –
-440,168
Closed -$75.8M
CAI
2348
DELISTED
CAI International, Inc.
CAI
– –
-99,000
Closed -$5.54M
EBSB
2349
DELISTED
Meridian Bancorp, Inc.
EBSB
– –
-59,887
Closed -$1.24M
KDMN
2350
DELISTED
Kadmon Holdings, Inc.
KDMN
– –
-1,733,400
Closed -$15.1M
91 92 93
94
95

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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.