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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
+7.37%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$437B
AUM Growth
+$8.51B
Cap. Flow
-$15.8B
Cap. Flow %
-3.62%
Top 10 Hldgs %
21.18%
Holding
2,241
New
131
Increased
505
Reduced
1,392
Closed
114

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$576M
2
FERG icon
Ferguson
FERG
+$574M
3
STLA icon
Stellantis
STLA
+$471M
4
IFF icon
International Flavors & Fragrances
IFF
+$425M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$228M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$5.99B
2
AAPL icon
Apple
AAPL
+$1.07B
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$981M
4
TSLA icon
Tesla
TSLA
+$836M
5
TMUS icon
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
MKL icon
501
Markel Group
MKL
$23.3B
$144M 0.03%
126,067
-984
-0.8% -$1.06M
PAYC icon
502
Paycom
PAYC
$8.15B
$143M 0.03%
386,735
+7,965
+2% +$3.14M
CRL icon
503
Charles River Laboratories
CRL
$12.6B
$143M 0.03%
492,922
+10,550
+2% +$2.93M
CNP icon
504
CenterPoint Energy
CNP
$26.8B
$141M 0.03%
6,241,509
-260,405
-4% -$5.55M
MDB icon
505
MongoDB
MDB
$30.3B
$140M 0.03%
524,686
-18,814
-3% -$6.67M
MPWR icon
506
Monolithic Power Systems
MPWR
$66.1B
$140M 0.03%
395,433
-6,227
-2% -$2.27M
DVA icon
507
DaVita
DVA
$12.1B
$140M 0.03%
1,295,582
-353,628
-21% -$39.3M
OTEX icon
508
Open Text
OTEX
$6.22B
$140M 0.03%
2,927,464
-13,783
-0.5% -$645K
LAD icon
509
Lithia Motors
LAD
$8.1B
$139M 0.03%
356,618
-16,564
-4% -$5.95M
PKG icon
510
Packaging Corp of America
PKG
$22.8B
$139M 0.03%
1,032,361
-38,724
-4% -$5.28M
GPK icon
511
Graphic Packaging
GPK
$3.52B
$138M 0.03%
7,625,959
-1,855,769
-20% -$31.7M
PCG icon
512
PG&E
PCG
$37.9B
$138M 0.03%
11,795,972
-3,525,709
-23% -$40.9M
LDOS icon
513
Leidos
LDOS
$16B
$138M 0.03%
1,430,749
+24,043
+2% +$2.43M
WYNN icon
514
Wynn Resorts
WYNN
$10.5B
$138M 0.03%
1,096,829
+107,965
+11% +$13M
WAB icon
515
Wabtec
WAB
$50B
$137M 0.03%
1,735,353
+60,379
+4% +$4.69M
STX icon
516
Seagate
STX
$190B
$137M 0.03%
1,789,648
-431,675
-19% -$30M
XRAY icon
517
Dentsply Sirona
XRAY
$2.76B
$137M 0.03%
2,145,702
-89,608
-4% -$5.2M
FOXA icon
518
Fox Class A
FOXA
$24.6B
$136M 0.03%
3,773,899
-769,747
-17% -$26.9M
ALNY icon
519
Alnylam Pharmaceuticals
ALNY
$30.6B
$136M 0.03%
962,304
-76,684
-7% -$11.5M
WIX icon
520
WIX.com
WIX
$2.7B
$135M 0.03%
482,929
+277,754
+135% +$79.3M
DISCK
521
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$135M 0.03%
3,647,628
-108,107
-3% -$4.58M
TPR icon
522
Tapestry
TPR
$32.2B
$134M 0.03%
3,262,076
-147,944
-4% -$5.7M
LNC icon
523
Lincoln National
LNC
$8.98B
$134M 0.03%
2,148,721
-77,337
-3% -$4.27M
PEG icon
524
Public Service Enterprise Group
PEG
$37.6B
$134M 0.03%
2,221,249
+1,105,509
+99% +$63.8M
SEDG icon
525
SolarEdge
SEDG
$2.06B
$134M 0.03%
464,650
+20,579
+5% +$6.21M
19 20
21
22 23

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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.