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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
+0.6%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$452B
AUM Growth
-$9.33B
Cap. Flow
-$7.26B
Cap. Flow %
-1.61%
Top 10 Hldgs %
22.53%
Holding
2,403
New
197
Increased
630
Reduced
1,246
Closed
133

Top Buys

Rank Stock Value
1
WELL icon
Welltower
WELL
+$851M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$768M
3
BX icon
Blackstone
BX
+$670M
4
AZN icon
AstraZeneca
AZN
+$544M
5
CVX icon
Chevron
CVX
+$483M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.52B
2
MSFT icon
Microsoft
MSFT
+$1.11B
3
AAPL icon
Apple
AAPL
+$825M
4
AMAT icon
Applied Materials
AMAT
+$579M
5
JD icon
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
SPG icon
201
Simon Property Group
SPG
$74.4B
$434M 0.1%
3,338,823
-120,235
-3% -$15.6M
APD icon
202
Air Products & Chemicals
APD
$65.7B
$433M 0.1%
1,690,174
+713,149
+73% +$197M
CNH
203
CNH Industrial
CNH
$12.7B
$432M 0.1%
29,172,550
+1,084,543
+4% +$15.6M
DOC icon
204
Healthpeak Properties
DOC
$15.1B
$431M 0.1%
12,883,777
+824,051
+7% +$29.2M
BKR icon
205
Baker Hughes
BKR
$60B
$429M 0.09%
17,345,405
+7,385,277
+74% +$164M
DOCU
206
DocuSign
DOCU
$10.5B
$425M 0.09%
1,652,772
-57,547
-3% -$16.6M
SNPS icon
207
Synopsys
SNPS
$74.4B
$425M 0.09%
1,421,027
+28,921
+2% +$8.78M
L icon
208
Loews
L
$23.9B
$425M 0.09%
7,874,663
-307,516
-4% -$16.7M
KMB icon
209
Kimberly-Clark
KMB
$36.3B
$424M 0.09%
3,198,306
-123,551
-4% -$16.8M
GPN icon
210
Global Payments
GPN
$23B
$423M 0.09%
2,683,113
-81,933
-3% -$14.2M
CARR icon
211
Carrier Global
CARR
$51B
$423M 0.09%
8,163,569
+1,245,071
+18% +$67M
CTVA icon
212
Corteva
CTVA
$52.6B
$419M 0.09%
9,966,739
+5,091,387
+104% +$220M
LULU icon
213
lululemon athletica
LULU
$13.5B
$414M 0.09%
1,023,779
-34,214
-3% -$13.7M
XLNX
214
DELISTED
Xilinx Inc
XLNX
$410M 0.09%
2,712,540
-334,093
-11% -$49M
CM icon
215
Canadian Imperial Bank of Commerce
CM
$108B
$409M 0.09%
7,357,824
-233,774
-3% -$13.5M
DXCM icon
216
DexCom
DXCM
$32.2B
$409M 0.09%
2,990,116
-94,232
-3% -$11.9M
APH icon
217
Amphenol
APH
$198B
$404M 0.09%
11,037,806
-3,030,768
-22% -$111M
MET icon
218
MetLife
MET
$61.9B
$404M 0.09%
6,537,520
+339,215
+5% +$20.4M
ORLY icon
219
O'Reilly Automotive
ORLY
$72.9B
$402M 0.09%
9,872,295
-402,630
-4% -$16.1M
DB icon
220
Deutsche Bank
DB
$69B
$401M 0.09%
31,391,261
+22,042,573
+236% +$276M
MCHP icon
221
Microchip Technology
MCHP
$40.3B
$400M 0.09%
5,210,366
+62,158
+1% +$4.66M
AIG icon
222
American International
AIG
$41.7B
$399M 0.09%
7,264,253
+536,588
+8% +$27.6M
MTCH icon
223
Match Group
MTCH
$9.19B
$399M 0.09%
2,539,763
-51,593
-2% -$7.86M
DFS
224
DELISTED
Discover Financial Services
DFS
$398M 0.09%
3,235,697
-15,029
-0.5% -$1.88M
TT icon
225
Trane Technologies
TT
$101B
$397M 0.09%
2,300,942
-291,838
-11% -$56.1M
7 8
9
10 11

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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.