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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
OTIS icon
201
Otis Worldwide
OTIS
$27.8B
$449M 0.1%
5,489,338
+22,973
+0.4% +$1.77M
L icon
202
Loews
L
$23.7B
$447M 0.1%
8,182,179
-1,842,268
-18% -$103M
MRVL icon
203
Marvell Technology
MRVL
$189B
$445M 0.1%
7,632,081
+2,623,028
+52% +$128M
KMB icon
204
Kimberly-Clark
KMB
$37.3B
$444M 0.1%
3,321,857
-187,306
-5% -$25M
NEM icon
205
Newmont
NEM
$110B
$444M 0.1%
6,999,003
+438,930
+7% +$29.4M
XLNX
206
DELISTED
Xilinx Inc
XLNX
$441M 0.1%
3,046,633
-181,199
-6% -$23M
IFF icon
207
International Flavors & Fragrances
IFF
$22.5B
$439M 0.1%
2,940,594
-947,914
-24% -$136M
ZM icon
208
Zoom
ZM
$29.5B
$438M 0.09%
1,131,302
-218,059
-16% -$72.6M
CNC icon
209
Centene
CNC
$33.1B
$436M 0.09%
5,983,124
-187,491
-3% -$12.8M
ROST icon
210
Ross Stores
ROST
$81.2B
$433M 0.09%
3,492,864
-90,951
-3% -$11.3M
CM icon
211
Canadian Imperial Bank of Commerce
CM
$108B
$432M 0.09%
7,591,598
-996,936
-12% -$54.6M
NTES icon
212
NetEase
NTES
$82B
$427M 0.09%
3,701,341
-817,183
-18% -$90M
CMI icon
213
Cummins
CMI
$89.7B
$425M 0.09%
1,744,599
-167,936
-9% -$42.9M
HST icon
214
Host Hotels & Resorts
HST
$17.2B
$418M 0.09%
24,466,803
+11,139,111
+84% +$194M
MTCH icon
215
Match Group
MTCH
$8.9B
$418M 0.09%
2,591,356
+347,601
+15% +$50.9M
CMG icon
216
Chipotle Mexican Grill
CMG
$43.7B
$416M 0.09%
13,406,000
+855,650
+7% +$24.4M
SLB icon
217
SLB Ltd
SLB
$74.1B
$415M 0.09%
12,965,657
+960,111
+8% +$29.5M
TROW icon
218
T. Rowe Price
TROW
$24.5B
$414M 0.09%
2,090,170
+47,273
+2% +$8.84M
ALL icon
219
Allstate
ALL
$68.1B
$410M 0.09%
3,143,115
-566,610
-15% -$73.2M
A icon
220
Agilent Technologies
A
$39.9B
$408M 0.09%
2,762,172
-135,786
-5% -$18.5M
MRSH
221
Marsh
MRSH
$91.4B
$407M 0.09%
2,896,306
-470,255
-14% -$63.1M
MPC icon
222
Marathon Petroleum
MPC
$86.9B
$405M 0.09%
6,710,657
+59,782
+0.9% +$3.5M
CNH
223
CNH Industrial
CNH
$13.4B
$404M 0.09%
28,088,007
+3,267,114
+13% +$46.6M
LHX icon
224
L3Harris
LHX
$53.3B
$402M 0.09%
1,858,434
-73,699
-4% -$15.8M
DOC icon
225
Healthpeak Properties
DOC
$15B
$401M 0.09%
12,059,726
+2,336,457
+24% +$78.4M
7 8
9
10 11

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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.