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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
+9.04%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$461B
AUM Growth
+$24.5B
Cap. Flow
-$9.73B
Cap. Flow %
-2.11%
Top 10 Hldgs %
22.33%
Holding
2,310
New
183
Increased
607
Reduced
1,278
Closed
104

Top Buys

Rank Stock Value
1
UDR icon
UDR
UDR
+$330M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$329M
3
ARE icon
Alexandria Real Estate Equities
ARE
+$327M
4
INVH icon
Invitation Homes
INVH
+$309M
5
TSLA icon
Tesla
TSLA
+$260M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$970M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$928M
3
C icon
Citigroup
C
+$368M
4
LIN icon
Linde
LIN
+$354M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$320M

Sector Composition

Rank Sector Weight
1 Technology 23.3%
2 Financials 14.41%
3 Healthcare 12.63%
4 Consumer Discretionary 12.55%
5 Communication Services 10.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADM icon
251
Archer Daniels Midland
ADM
$37.4B
$354M 0.08%
5,837,613
-219,776
-4% -$14M
MXIM
252
DELISTED
Maxim Integrated Products
MXIM
$350M 0.08%
3,321,194
+63,041
+2% +$6.17M
SLF icon
253
Sun Life Financial
SLF
$45.3B
$348M 0.08%
6,758,802
-334,244
-5% -$17.7M
BILI icon
254
Bilibili
BILI
$7.78B
$348M 0.08%
2,854,483
+934,771
+49% +$101M
PRU icon
255
Prudential Financial
PRU
$41.7B
$345M 0.07%
3,368,127
-474,410
-12% -$48.5M
PANW icon
256
Palo Alto Networks
PANW
$296B
$343M 0.07%
5,546,652
-235,758
-4% -$14M
VLO icon
257
Valero Energy
VLO
$87.1B
$340M 0.07%
4,353,327
-171,514
-4% -$13.3M
SUI icon
258
Sun Communities
SUI
$14.9B
$340M 0.07%
1,981,749
+304,830
+18% +$50.5M
EBAY icon
259
eBay
EBAY
$49.4B
$338M 0.07%
4,808,498
+1,498,670
+45% +$94M
MGA icon
260
Magna International
MGA
$19.2B
$337M 0.07%
3,636,982
-80,659
-2% -$7.69M
CARR icon
261
Carrier Global
CARR
$53.9B
$336M 0.07%
6,918,498
-584,999
-8% -$26.1M
D icon
262
Dominion Energy
D
$60B
$335M 0.07%
4,547,688
-1,896,812
-29% -$146M
SBAC icon
263
SBA Communications
SBAC
$18.9B
$330M 0.07%
1,034,510
-18,801
-2% -$5.64M
AZO icon
264
AutoZone
AZO
$50.1B
$330M 0.07%
220,835
-16,794
-7% -$24.3M
ECL icon
265
Ecolab
ECL
$80.3B
$329M 0.07%
1,599,477
-40,345
-2% -$8.77M
DXCM icon
266
DexCom
DXCM
$31.2B
$329M 0.07%
3,084,348
+125,548
+4% +$12.1M
SWKS icon
267
Skyworks Solutions
SWKS
$10.1B
$325M 0.07%
1,697,140
-61,874
-4% -$11M
SWK icon
268
Stanley Black & Decker
SWK
$15.6B
$324M 0.07%
1,580,550
-28,026
-2% -$5.81M
AIG icon
269
American International
AIG
$42.5B
$320M 0.07%
6,727,665
-730,957
-10% -$36.1M
GLW icon
270
Corning
GLW
$135B
$320M 0.07%
7,824,830
-184,409
-2% -$8.04M
MCK icon
271
McKesson
MCK
$103B
$320M 0.07%
1,673,361
-80,945
-5% -$15.6M
MNST icon
272
Monster Beverage
MNST
$92.4B
$320M 0.07%
6,996,820
-31,130
-0.4% -$1.46M
CSGP icon
273
CoStar Group
CSGP
$12.2B
$317M 0.07%
3,823,400
+107,350
+3% +$9.28M
DLR icon
274
Digital Realty Trust
DLR
$72.1B
$316M 0.07%
2,103,485
-244,774
-10% -$37M
DHI icon
275
D.R. Horton
DHI
$42.4B
$315M 0.07%
3,490,963
+73,935
+2% +$6.94M
9 10
11
12 13

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Norges Bank's Q2 2021 Portfolio in Review

As of Q2 2021, Norges Bank held 2,310 positions worth $461B, up 5.6% from $437B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Norges Bank's Q2 2021 filing shows 183 new, 607 increased, 1,278 reduced and 104 closed positions. Its largest new stake was DoorDash: 1,116,782 shares worth $199M. The largest sale was Apple, an estimated $970M.

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 Q2 2021 buy was DoorDash: 1,116,782 shares worth $199M.
  • Norges Bank added most to UDR in Q2 2021, an estimated $330M increase.
  • Norges Bank's biggest Q2 2021 reduction was Apple, cutting an estimated $970M.
  • Norges Bank fully exited INPHI CORPORATION in Q2 2021, selling an estimated $205M.
  • Norges Bank's ten largest holdings make up 22% of its $461B portfolio in Q2 2021.
  • Norges Bank opened 183 new positions and closed 104 in Q2 2021.
  • Norges Bank's portfolio value rose 5.6% quarter-over-quarter to $461B.

Based on Norges Bank's 13F filing for Q2 2021, filed 10 Aug 2021.