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 | |
|---|---|---|---|---|---|---|
2001
Atlanta Braves Holdings Series A
BATRA
$3.49B
| $2.84M | ﹤0.01% |
105,656
| – | – |
|
2002
Health Catalyst
HCAT
$163M
| $2.83M | ﹤0.01% |
56,535
+40,000
| +242% | +$2.18M |
|
2003
Alignment Healthcare
ALHC
$3.02B
| $2.8M | ﹤0.01% |
175,040
-11,793
| -6% | -$228K |
|
2004
Vericel Corp
VCEL
$2.36B
| $2.78M | ﹤0.01% |
57,059
| – | – |
|
|
BNR
2005
Burning Rock Biotech
BNR
$93.2M
| $2.68M | ﹤0.01% |
+15,013
| New | +$3.34M |
|
2006
Chewy
CHWY
$9.4B
| $2.66M | ﹤0.01% |
39,051
| – | – |
|
|
CTEV
2007
Claritev Corp
CTEV
$414M
| $2.65M | ﹤0.01% |
+11,781
| New | +$3.19M |
|
|
MAXN
2008
DELISTED
Maxeon Solar Technologies
MAXN
| $2.64M | ﹤0.01% |
1,498
+429
| +40% | +$733K |
|
|
CAN
2009
Canaan Creative
CAN
$132M
| $2.64M | ﹤0.01% |
+431,607
| New | +$3.35M |
|
2010
Braskem
BAK
$924M
| $2.62M | ﹤0.01% |
120,000
-80,000
| -40% | -$1.85M |
|
2011
Relmada Therapeutics
RLMD
$556M
| $2.58M | ﹤0.01% |
+98,500
| New | +$2.64M |
|
2012
JFrog
FROG
$9.98B
| $2.57M | ﹤0.01% |
76,719
+59,074
| +335% | +$2.37M |
|
2013
SiTime
SITM
$16.5B
| $2.53M | ﹤0.01% |
12,399
-7,601
| -38% | -$1.36M |
|
2014
Alector
ALEC
$168M
| $2.52M | ﹤0.01% |
110,649
-114,324
| -51% | -$3.2M |
|
2015
Precigen
PGEN
$2.36B
| $2.52M | ﹤0.01% |
504,590
+97,324
| +24% | +$560K |
|
2016
Plains GP Holdings
PAGP
$5.15B
| $2.51M | ﹤0.01% |
+232,900
| New | +$2.44M |
|
2017
National Bank Holdings
NBHC
$1.92B
| $2.5M | ﹤0.01% |
+61,700
| New | +$2.26M |
|
2018
Johnson Outdoors
JOUT
$502M
| $2.5M | ﹤0.01% |
23,580
+12,480
| +112% | +$1.43M |
|
|
BEST
2019
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
| $2.48M | ﹤0.01% |
74,380
| – | – |
|
|
DM
2020
DELISTED
Desktop Metal, Inc.
DM
| $2.48M | ﹤0.01% |
+34,524
| New | +$3M |
|
|
WKME
2021
DELISTED
WalkMe Ltd. Ordinary Shares
WKME
| $2.47M | ﹤0.01% |
83,058
-116,942
| -58% | -$3.33M |
|
|
GES
2022
DELISTED
Guess Inc
GES
| $2.45M | ﹤0.01% |
116,574
-250,736
| -68% | -$5.73M |
|
2023
Aveanna Healthcare
AVAH
$2.09B
| $2.44M | ﹤0.01% |
303,615
-468,733
| -61% | -$4.54M |
|
|
OCFT
2024
DELISTED
OneConnect Financial Technology
OCFT
| $2.42M | ﹤0.01% |
59,010
| – | – |
|
2025
AbCellera Biologics
ABCL
$1.78B
| $2.41M | ﹤0.01% |
120,194
+70,194
| +140% | +$1.24M |
|
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.