Norges Bank Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Welltower
WELL
|
+$851M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$768M |
| 3 |
Blackstone
BX
|
+$670M |
| 4 |
AstraZeneca
AZN
|
+$544M |
| 5 |
Chevron
CVX
|
+$483M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$1.52B |
| 2 |
Microsoft
MSFT
|
+$1.11B |
| 3 |
Apple
AAPL
|
+$825M |
| 4 |
Applied Materials
AMAT
|
+$579M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
151
HCA Healthcare
HCA
$86.9B
| $589M | 0.13% |
2,424,875
-294,370
| -11% | -$72M |
|
152
Ferguson
FERG
$45.8B
| $588M | 0.13% |
4,221,658
-126,483
| -3% | -$18M |
|
153
CSX Corp
CSX
$93.4B
| $586M | 0.13% |
19,694,153
-3,226,366
| -14% | -$103M |
|
154
Intercontinental Exchange
ICE
$85.8B
| $585M | 0.13% |
5,094,449
-152,032
| -3% | -$18M |
|
155
Mercado Libre
MELI
$95.4B
| $580M | 0.13% |
345,340
-47,363
| -12% | -$82M |
|
156
Emerson Electric
EMR
$84.2B
| $567M | 0.13% |
6,018,934
+448,294
| +8% | +$44.7M |
|
157
Illumina
ILMN
$30.8B
| $567M | 0.13% |
1,436,476
-67,047
| -4% | -$30.8M |
|
|
158
AstraZeneca
AZN
$264B
| $563M | 0.12% |
4,689,339
+4,674,648
| +31,820% | +$544M |
|
159
Equinix
EQIX
$102B
| $561M | 0.12% |
710,173
-29,970
| -4% | -$24.9M |
|
160
Workday
WDAY
$39.6B
| $549M | 0.12% |
2,198,962
+65,270
| +3% | +$16.2M |
|
|
RDS.B
161
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $547M | 0.12% |
12,356,391
-716,300
| -5% | -$28.4M |
|
|
FISV
162
Fiserv Inc
FISV
$28.7B
| $546M | 0.12% |
5,034,928
-142,685
| -3% | -$15.9M |
|
163
Ford
F
$58.7B
| $544M | 0.12% |
38,392,433
+1,112,008
| +3% | +$15.1M |
|
164
Mid-America Apartment Communities
MAA
$15.5B
| $534M | 0.12% |
2,860,892
+164,386
| +6% | +$30.8M |
|
165
Nucor
NUE
$58.8B
| $534M | 0.12% |
5,416,828
-1,355,953
| -20% | -$144M |
|
166
Chubb
CB
$135B
| $524M | 0.12% |
3,022,014
-832,507
| -22% | -$146M |
|
|
XYZ
167
Block Inc
XYZ
$48.6B
| $524M | 0.12% |
2,184,996
-608,329
| -22% | -$156M |
|
168
Moody's
MCO
$83.2B
| $524M | 0.12% |
1,475,411
-51,954
| -3% | -$19.6M |
|
|
WCN
169
Waste Connections
WCN
$42.5B
| $517M | 0.11% |
4,107,976
-68,753
| -2% | -$8.69M |
|
170
FedEx
FDX
$72.9B
| $517M | 0.11% |
2,357,913
+190,361
| +9% | +$51.7M |
|
171
Norfolk Southern
NSC
$75.4B
| $513M | 0.11% |
2,144,348
-220,765
| -9% | -$56.6M |
|
172
Dow Inc
DOW
$21.9B
| $512M | 0.11% |
8,902,872
+1,285,106
| +17% | +$78.7M |
|
173
Snowflake
SNOW
$103B
| $510M | 0.11% |
1,686,785
+1,652,532
| +4,824% | +$470M |
|
|
BNY
174
Bank of New York Mellon
BNY
$106B
| $510M | 0.11% |
9,837,655
+733,467
| +8% | +$38.1M |
|
175
KLA
KLAC
$244B
| $509M | 0.11% |
15,228,480
-543,630
| -3% | -$18.1M |
|
Similar funds
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.