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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
+0.6%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$452B
AUM Growth
-$9.33B
Cap. Flow
-$7.26B
Cap. Flow %
-1.61%
Top 10 Hldgs %
22.53%
Holding
2,403
New
197
Increased
630
Reduced
1,246
Closed
133

Top Buys

Rank Stock Value
1
WELL icon
Welltower
WELL
+$851M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$768M
3
BX icon
Blackstone
BX
+$670M
4
AZN icon
AstraZeneca
AZN
+$544M
5
CVX icon
Chevron
CVX
+$483M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.52B
2
MSFT icon
Microsoft
MSFT
+$1.11B
3
AAPL icon
Apple
AAPL
+$825M
4
AMAT icon
Applied Materials
AMAT
+$579M
5
JD icon
JD.com
JD
+$538M

Sector Composition

Rank Sector Weight
1 Technology 23.35%
2 Financials 14.56%
3 Healthcare 12.76%
4 Consumer Discretionary 12.17%
5 Communication Services 10.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PDD icon
226
Pinduoduo
PDD
$128B
$397M 0.09%
4,380,815
-67,060
-2% -$6.52M
TROW icon
227
T. Rowe Price
TROW
$24.1B
$397M 0.09%
2,016,333
-73,837
-4% -$15.5M
HST icon
228
Host Hotels & Resorts
HST
$17.2B
$397M 0.09%
24,280,749
-186,054
-0.8% -$3.02M
HAL icon
229
Halliburton
HAL
$26.5B
$395M 0.09%
18,251,607
+6,366,373
+54% +$130M
MPC icon
230
Marathon Petroleum
MPC
$90.1B
$395M 0.09%
6,383,478
-327,179
-5% -$18.8M
CRWD icon
231
CrowdStrike
CRWD
$206B
$392M 0.09%
6,385,780
+699,080
+12% +$45.1M
STZ icon
232
Constellation Brands
STZ
$22.4B
$390M 0.09%
1,851,515
+224,361
+14% +$49M
MAR icon
233
Marriott International
MAR
$92B
$388M 0.09%
2,618,825
-80,144
-3% -$11.2M
NEM icon
234
Newmont
NEM
$99.8B
$387M 0.09%
7,133,960
+134,957
+2% +$7.96M
BIDU icon
235
Baidu
BIDU
$38.4B
$387M 0.09%
2,517,277
-797,685
-24% -$131M
RACE icon
236
Ferrari
RACE
$70.5B
$386M 0.09%
1,844,099
+53,044
+3% +$11.4M
ROST icon
237
Ross Stores
ROST
$81B
$384M 0.09%
3,529,542
+36,678
+1% +$4.4M
CTSH icon
238
Cognizant
CTSH
$25B
$380M 0.08%
5,127,279
-163,506
-3% -$12.1M
TRP icon
239
TC Energy
TRP
$68.8B
$380M 0.08%
7,896,847
-200,769
-2% -$9.74M
LHX icon
240
L3Harris
LHX
$51.4B
$375M 0.08%
1,703,389
-155,045
-8% -$35.3M
ROK icon
241
Rockwell Automation
ROK
$53.3B
$372M 0.08%
1,265,964
-63,569
-5% -$19.5M
CDNS icon
242
Cadence Design Systems
CDNS
$93.2B
$369M 0.08%
2,437,003
-235,179
-9% -$35.8M
TEAM icon
243
Atlassian
TEAM
$26.5B
$369M 0.08%
941,715
-23,510
-2% -$7.85M
MSI icon
244
Motorola Solutions
MSI
$72.9B
$367M 0.08%
1,580,698
-64,893
-4% -$15.1M
SUI icon
245
Sun Communities
SUI
$15.1B
$366M 0.08%
1,974,836
-6,913
-0.3% -$1.33M
MFC icon
246
Manulife Financial
MFC
$74.2B
$364M 0.08%
18,928,627
-132,660
-0.7% -$2.58M
CNC icon
247
Centene
CNC
$31B
$359M 0.08%
5,759,273
-223,851
-4% -$15M
VEEV icon
248
Veeva Systems
VEEV
$33.9B
$357M 0.08%
1,239,744
-29,019
-2% -$9.21M
PLTR icon
249
Palantir
PLTR
$301B
$353M 0.08%
+14,697,343
New +$358M
AZO icon
250
AutoZone
AZO
$49.3B
$353M 0.08%
208,081
-12,754
-6% -$20.5M
8 9
10
11 12

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Norges Bank's Q3 2021 Portfolio in Review

As of Q3 2021, Norges Bank held 2,403 positions worth $452B, down 2% from $461B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Norges Bank's Q3 2021 filing shows 197 new, 630 increased, 1,246 reduced and 133 closed positions. Its largest new stake was Palantir: 14,697,343 shares worth $353M. The largest sale was Alphabet (Google) Class A, an estimated $1.52B.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q3 2021 buy was Palantir: 14,697,343 shares worth $353M.
  • Norges Bank added most to Welltower in Q3 2021, an estimated $851M increase.
  • Norges Bank's biggest Q3 2021 reduction was Alphabet (Google) Class A, cutting an estimated $1.52B.
  • Norges Bank fully exited Alexion Pharmaceuticals in Q3 2021, selling an estimated $359M.
  • Norges Bank's ten largest holdings make up 23% of its $452B portfolio in Q3 2021.
  • Norges Bank opened 197 new positions and closed 133 in Q3 2021.
  • Norges Bank's portfolio value fell 2% quarter-over-quarter to $452B.

Based on Norges Bank's 13F filing for Q3 2021, filed 5 Nov 2021.