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 |
Alphabet (Google) Class A
GOOGL
|
+$576M |
| 2 |
Ferguson
FERG
|
+$574M |
| 3 |
Stellantis
STLA
|
+$471M |
| 4 |
International Flavors & Fragrances
IFF
|
+$425M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$228M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$5.99B |
| 2 |
Apple
AAPL
|
+$1.07B |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$981M |
| 4 |
Tesla
TSLA
|
+$836M |
| 5 |
T-Mobile US
TMUS
|
+$723M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.86% |
| 2 | Financials | 14.58% |
| 3 | Healthcare | 12.62% |
| 4 | Consumer Discretionary | 12.5% |
| 5 | Communication Services | 10.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BBL
426
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
| $177M | 0.04% |
3,055,000
| – | – |
|
427
Expeditors International
EXPD
$23.7B
| $177M | 0.04% |
1,639,045
-57,421
| -3% | -$5.53M |
|
|
NLSN
428
DELISTED
Nielsen Holdings plc
NLSN
| $176M | 0.04% |
7,017,454
+2,019,114
| +40% | +$47.6M |
|
429
Paychex
PAYX
$42.2B
| $176M | 0.04% |
1,798,917
-298,066
| -14% | -$27.5M |
|
430
Arista Networks
ANET
$240B
| $176M | 0.04% |
9,344,992
-543,184
| -5% | -$10.2M |
|
431
Camden Property Trust
CPT
$11B
| $175M | 0.04% |
1,594,148
+692,386
| +77% | +$72M |
|
432
Burlington
BURL
$23.2B
| $175M | 0.04% |
585,047
-36,796
| -6% | -$10M |
|
|
EXAS
433
DELISTED
Exact Sciences
EXAS
| $175M | 0.04% |
1,326,215
-195,611
| -13% | -$26.8M |
|
434
Equity Lifestyle Properties
ELS
$12.6B
| $174M | 0.04% |
2,741,655
+987,057
| +56% | +$61.4M |
|
|
COUP
435
DELISTED
Coupa Software Incorporated
COUP
| $174M | 0.04% |
683,188
+3,825
| +0.6% | +$1.21M |
|
436
First Solar
FSLR
$26.2B
| $173M | 0.04% |
1,987,234
-915,939
| -32% | -$84M |
|
437
Deutsche Bank
DB
$70.4B
| $172M | 0.04% |
14,421,234
+9,187,187
| +176% | +$107M |
|
|
HZNP
438
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $172M | 0.04% |
1,870,774
+189,437
| +11% | +$16M |
|
439
Domino's
DPZ
$12.2B
| $172M | 0.04% |
467,157
-12,965
| -3% | -$4.78M |
|
440
MarketAxess Holdings
MKTX
$5.71B
| $171M | 0.04% |
344,422
-10,095
| -3% | -$5.38M |
|
441
Vipshop
VIPS
$7.49B
| $171M | 0.04% |
5,739,465
-392,070
| -6% | -$13.5M |
|
442
W.W. Grainger
GWW
$61.4B
| $171M | 0.04% |
425,749
-27,581
| -6% | -$10.7M |
|
443
Nasdaq
NDAQ
$52.3B
| $168M | 0.04% |
3,421,314
-104,961
| -3% | -$4.98M |
|
444
Chegg
CHGG
$115M
| $166M | 0.04% |
1,940,332
+681,250
| +54% | +$64.9M |
|
445
Rogers Communications
RCI
$18.3B
| $166M | 0.04% |
3,593,821
+1,563
| +0% | +$73.2K |
|
446
BioMarin Pharmaceuticals
BMRN
$11.7B
| $166M | 0.04% |
2,194,319
+744,823
| +51% | +$60.8M |
|
447
DuPont de Nemours
DD
$19.3B
| $164M | 0.04% |
1,694,966
-5,299,629
| -76% | -$508M |
|
448
Broadridge
BR
$19.5B
| $164M | 0.04% |
1,073,837
-9,768
| -0.9% | -$1.44M |
|
449
Americold
COLD
$4.04B
| $164M | 0.04% |
4,267,464
+2,238,586
| +110% | +$80.4M |
|
450
Norwegian Cruise Line
NCLH
$9.22B
| $163M | 0.04% |
5,918,166
+130,862
| +2% | +$3.48M |
|
Similar funds
Norges Bank's Q1 2021 Portfolio in Review
As of Q1 2021, Norges Bank held 2,241 positions worth $437B, up 2% from $428B the previous quarter. Its ten largest holdings account for 21% of the portfolio.
Norges Bank withdrew a net $15.8B in Q1 2021, closing 114 positions and reducing 1,392 holdings. Its most notable exit was Tiffany & Co., an estimated $229M position sold in full.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 23% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Norges Bank opened a new position in Ferguson worth $562M.
- Norges Bank's largest Q1 2021 buy was Ferguson: 4,706,324 shares worth $562M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2021, an estimated $576M increase.
- Norges Bank's biggest Q1 2021 reduction was Alibaba, cutting an estimated $5.99B.
- Norges Bank fully exited Tiffany & Co. in Q1 2021, selling an estimated $229M.
- Norges Bank's ten largest holdings make up 21% of its $437B portfolio in Q1 2021.
- Norges Bank opened 131 new positions and closed 114 in Q1 2021.
- Norges Bank's portfolio value rose 2% quarter-over-quarter to $437B.
Based on Norges Bank's 13F filing for Q1 2021, filed 7 May 2021.