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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
KMI icon
301
Kinder Morgan
KMI
$69.3B
$281M 0.06%
15,436,490
-1,711,532
-10% -$30.5M
APD icon
302
Air Products & Chemicals
APD
$65.7B
$281M 0.06%
977,025
+122,321
+14% +$35.9M
WRK
303
DELISTED
WestRock Company
WRK
$281M 0.06%
5,280,471
+448,250
+9% +$25.1M
NKLA
304
DELISTED
Nikola Corporation Common Stock
NKLA
$281M 0.06%
518,129
+22,339
+5% +$9.31M
FTNT icon
305
Fortinet
FTNT
$120B
$279M 0.06%
5,848,400
+909,445
+18% +$38.8M
DELL icon
306
Dell
DELL
$299B
$279M 0.06%
5,513,043
+37,155
+0.7% +$1.86M
OKTA icon
307
Okta
OKTA
$25.6B
$276M 0.06%
1,129,757
+89,142
+9% +$21.5M
LEN icon
308
Lennar Class A
LEN
$21.2B
$276M 0.06%
2,873,984
-117,714
-4% -$11.4M
HAL icon
309
Halliburton
HAL
$26.6B
$275M 0.06%
11,885,234
+74,804
+0.6% +$1.66M
LKQ icon
310
LKQ Corp
LKQ
$6.1B
$272M 0.06%
5,524,612
-1,754,129
-24% -$83.8M
VFC icon
311
VF Corp
VFC
$5.98B
$271M 0.06%
3,301,685
-119,043
-3% -$9.92M
SIVB
312
DELISTED
SVB Financial Group
SIVB
$269M 0.06%
483,590
-16,385
-3% -$9.09M
YUMC icon
313
Yum China
YUMC
$16.3B
$267M 0.06%
4,045,031
+15,807
+0.4% +$1.01M
NTR icon
314
Nutrien
NTR
$32.1B
$267M 0.06%
4,404,079
+958,253
+28% +$56.7M
WFG icon
315
West Fraser Timber
WFG
$5.5B
$267M 0.06%
3,713,235
+490,214
+15% +$37.7M
EXR icon
316
Extra Space Storage
EXR
$31.7B
$266M 0.06%
1,626,759
+415,041
+34% +$62.2M
PARA
317
DELISTED
Paramount Global Class B
PARA
$264M 0.06%
5,846,727
-150,512
-3% -$6.22M
AWK icon
318
American Water Works
AWK
$26.7B
$264M 0.06%
1,712,353
+12,074
+0.7% +$1.88M
ACC
319
DELISTED
American Campus Communities, Inc.
ACC
$263M 0.06%
5,624,583
+1,893,811
+51% +$87.7M
LH icon
320
Labcorp
LH
$25.4B
$262M 0.06%
1,107,335
+48,792
+5% +$11.1M
PTON icon
321
Peloton Interactive
PTON
$2.82B
$262M 0.06%
2,115,076
-126,726
-6% -$13.5M
RMD icon
322
ResMed
RMD
$32.5B
$262M 0.06%
1,062,561
-8,250
-0.8% -$1.73M
TRV icon
323
Travelers Companies
TRV
$79.8B
$259M 0.06%
1,729,478
-76,662
-4% -$11.9M
EFX icon
324
Equifax
EFX
$20.8B
$259M 0.06%
1,080,113
+43,450
+4% +$9.71M
UL icon
325
Unilever
UL
$139B
$258M 0.06%
3,925,068
-284,445
-7% -$18.9M
11 12
13
14 15

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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.