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 | |
|---|---|---|---|---|---|---|
1901
Orthofix Medical
OFIX
$496M
| $5.95M | ﹤0.01% |
156,116
| – | – |
|
1902
RingCentral
RNG
$4.81B
| $5.91M | ﹤0.01% |
27,185
-7,223
| -21% | -$1.83M |
|
|
TBI
1903
Trueblue
TBI
$229M
| $5.71M | ﹤0.01% |
210,888
-120,058
| -36% | -$3.21M |
|
|
FSR
1904
DELISTED
Fisker Inc.
FSR
| $5.69M | ﹤0.01% |
+388,341
| New | +$5.84M |
|
1905
Pennant Group
PNTG
$1.4B
| $5.68M | ﹤0.01% |
202,226
| – | – |
|
|
SAVE
1906
DELISTED
Spirit Airlines, Inc.
SAVE
| $5.66M | ﹤0.01% |
218,315
-170,808
| -44% | -$4.48M |
|
1907
Choice Hotels
CHH
$4.93B
| $5.61M | ﹤0.01% |
44,351
-13,058
| -23% | -$1.56M |
|
|
CAI
1908
DELISTED
CAI International, Inc.
CAI
| $5.54M | ﹤0.01% |
99,000
+4,300
| +5% | +$240K |
|
|
UHT
1909
Universal Health Realty Income Trust
UHT
$592M
| $5.53M | ﹤0.01% |
100,032
| – | – |
|
|
EBIX
1910
DELISTED
Ebix Inc
EBIX
| $5.51M | ﹤0.01% |
204,440
-23,582
| -10% | -$691K |
|
1911
Ares Capital
ARCC
$13.8B
| $5.49M | ﹤0.01% |
269,900
-162,900
| -38% | -$3.26M |
|
1912
Afya
AFYA
$1.3B
| $5.46M | ﹤0.01% |
276,853
| – | – |
|
|
SRNE
1913
DELISTED
Sorrento Therapeutics, Inc.
SRNE
| $5.44M | ﹤0.01% |
+712,535
| New | +$6.04M |
|
|
SWCH
1914
DELISTED
Switch, Inc. Class A Common Stock
SWCH
| $5.43M | ﹤0.01% |
+214,007
| New | +$5.02M |
|
|
THS
1915
DELISTED
Treehouse Foods
THS
| $5.42M | ﹤0.01% |
136,022
+70,914
| +109% | +$2.9M |
|
|
JAMF
1916
DELISTED
Jamf
JAMF
| $5.42M | ﹤0.01% |
140,778
+23,342
| +20% | +$801K |
|
|
LX
1917
LexinFintech Holdings
LX
$242M
| $5.4M | ﹤0.01% |
917,563
-226,586
| -20% | -$1.75M |
|
|
BNT
1918
Brookfield Wealth Solutions
BNT
$12B
| $5.37M | ﹤0.01% |
145,203
-2
| -0% | -$75 |
|
|
BBBY
1919
DELISTED
Bed Bath & Beyond Inc
BBBY
| $5.35M | ﹤0.01% |
309,875
-40,331
| -12% | -$1.09M |
|
1920
Live Oak Bancshares
LOB
$2.03B
| $5.31M | ﹤0.01% |
+83,429
| New | +$4.95M |
|
|
DSPG
1921
DELISTED
DSP Group Inc
DSPG
| $5.3M | ﹤0.01% |
241,786
+114,657
| +90% | +$2.05M |
|
1922
Sabesp
SBS
$19B
| $5.29M | ﹤0.01% |
3,849,581
| – | – |
|
|
TPC
1923
Tutor Perini Cor
TPC
$4.51B
| $5.18M | ﹤0.01% |
399,338
-35,235
| -8% | -$481K |
|
1924
dLocal
DLO
$4.51B
| $5.18M | ﹤0.01% |
94,937
-600,000
| -86% | -$33.5M |
|
1925
Hayward Holdings
HAYW
$3.28B
| $5.15M | ﹤0.01% |
231,754
-22,639
| -9% | -$509K |
|
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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.