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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
PODD icon
526
Insulet
PODD
$9.23B
$134M 0.03%
511,652
+9,044
+2% +$2.42M
LNG icon
527
Cheniere Energy
LNG
$53.4B
$133M 0.03%
1,852,242
+216,711
+13% +$14.8M
AEM icon
528
Agnico Eagle Mines
AEM
$83.8B
$133M 0.03%
2,306,866
-5,785
-0.3% -$374K
CHX
529
DELISTED
ChampionX
CHX
$133M 0.03%
6,126,614
+3,542,140
+137% +$68.8M
MOH icon
530
Molina Healthcare
MOH
$10.2B
$133M 0.03%
569,488
+13,624
+2% +$3.04M
SJR
531
DELISTED
Shaw Communications Inc.
SJR
$133M 0.03%
5,097,601
-151,258
-3% -$2.99M
BEKE icon
532
KE Holdings
BEKE
$18.7B
$132M 0.03%
2,322,465
+671,932
+41% +$42.2M
SJM icon
533
J.M. Smucker
SJM
$12.7B
$132M 0.03%
1,039,648
-214,977
-17% -$25.4M
RP
534
DELISTED
RealPage, Inc.
RP
$131M 0.03%
1,505,714
+622,800
+71% +$54.1M
RVTY icon
535
Revvity
RVTY
$12.8B
$131M 0.03%
1,023,168
+29,509
+3% +$4.09M
AQN icon
536
Algonquin Power & Utilities
AQN
$4.44B
$131M 0.03%
8,269,928
+897,276
+12% +$14.8M
PTC icon
537
PTC
PTC
$15.1B
$131M 0.03%
950,502
+56,220
+6% +$7.48M
PWR icon
538
Quanta Services
PWR
$103B
$130M 0.03%
1,478,146
+23,071
+2% +$1.84M
SNA icon
539
Snap-on
SNA
$21.7B
$130M 0.03%
562,150
-22,232
-4% -$4.38M
MPT
540
Medical Properties Trust
MPT
$2.79B
$129M 0.03%
6,061,226
+629,122
+12% +$13.5M
CTXS
541
DELISTED
Citrix Systems Inc
CTXS
$129M 0.03%
918,233
-189,264
-17% -$25.4M
TECH icon
542
Bio-Techne
TECH
$11.2B
$129M 0.03%
1,347,304
-35,464
-3% -$3.24M
GDDY icon
543
GoDaddy
GDDY
$11.6B
$129M 0.03%
1,655,983
+20,361
+1% +$1.64M
FBIN icon
544
Fortune Brands Innovations
FBIN
$6.24B
$128M 0.03%
1,557,110
-131,291
-8% -$9.94M
CCK icon
545
Crown Holdings
CCK
$13.3B
$127M 0.03%
1,309,741
+62,762
+5% +$6.05M
LUMN icon
546
Lumen
LUMN
$6.26B
$127M 0.03%
9,492,194
-1,423,337
-13% -$17.7M
BAH icon
547
Booz Allen Hamilton
BAH
$8.65B
$126M 0.03%
1,569,313
+214,630
+16% +$18M
TME icon
548
Tencent Music
TME
$15.6B
$126M 0.03%
6,161,685
-438,558
-7% -$11.1M
CHRW icon
549
C.H. Robinson
CHRW
$17.9B
$126M 0.03%
1,322,983
-5,926
-0.4% -$553K
ESTC icon
550
Elastic
ESTC
$7.25B
$126M 0.03%
1,134,927
+532,288
+88% +$75.6M
20 21
22
23 24

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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.