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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
PNW icon
551
Pinnacle West Capital
PNW
$12.3B
$126M 0.03%
1,548,876
+197,388
+15% +$15.3M
PBA icon
552
Pembina Pipeline
PBA
$27.4B
$125M 0.03%
4,334,303
+732,820
+20% +$20.4M
CHKP icon
553
Check Point Software Technologies
CHKP
$12.8B
$125M 0.03%
1,114,331
-20,504
-2% -$2.47M
FNF icon
554
Fidelity National Financial
FNF
$13.8B
$125M 0.03%
3,186,596
-16,156
-0.5% -$613K
HAS icon
555
Hasbro
HAS
$12.9B
$124M 0.03%
1,292,557
+20,622
+2% +$1.96M
NLY icon
556
Annaly Capital Management
NLY
$17.1B
$124M 0.03%
3,601,629
+38,563
+1% +$1.31M
WPC icon
557
W.P. Carey
WPC
$16.4B
$124M 0.03%
1,787,373
+12,781
+0.7% +$857K
FMC icon
558
FMC
FMC
$1.35B
$124M 0.03%
1,117,354
-1,002
-0.1% -$111K
ABMD
559
DELISTED
Abiomed Inc
ABMD
$124M 0.03%
387,678
-15,437
-4% -$4.94M
FLEX icon
560
Flex
FLEX
$45B
$124M 0.03%
8,953,396
+2,030,994
+29% +$28M
DAR icon
561
Darling Ingredients
DAR
$9.19B
$123M 0.03%
1,674,606
-24,235
-1% -$1.67M
AAP icon
562
Advance Auto Parts
AAP
$3.59B
$123M 0.03%
670,749
-414,556
-38% -$69.5M
FFIV icon
563
F5
FFIV
$23.4B
$123M 0.03%
589,242
-97,805
-14% -$19.3M
HRL icon
564
Hormel Foods
HRL
$13.9B
$123M 0.03%
2,564,478
-246,306
-9% -$11.6M
NWSA icon
565
News Corp Class A
NWSA
$15.7B
$121M 0.03%
4,764,870
-954,682
-17% -$21.4M
MHK icon
566
Mohawk Industries
MHK
$9.19B
$121M 0.03%
627,301
-81,258
-11% -$13.5M
MIDD icon
567
Middleby
MIDD
$6.12B
$121M 0.03%
727,640
-207,252
-22% -$30.5M
SBNY
568
DELISTED
Signature Bank
SBNY
$121M 0.03%
533,084
+45,476
+9% +$8.96M
RPRX icon
569
Royalty Pharma
RPRX
$25.6B
$121M 0.03%
2,763,137
+1,740,566
+170% +$82.5M
TDY icon
570
Teledyne Technologies
TDY
$31.7B
$120M 0.03%
291,253
-65,018
-18% -$25.1M
ARRY icon
571
Array Technologies
ARRY
$868M
$120M 0.03%
4,037,050
+2,587,050
+178% +$103M
BIO icon
572
Bio-Rad Laboratories Class A
BIO
$9.31B
$120M 0.03%
210,497
+5,315
+3% +$3.15M
TTD icon
573
Trade Desk
TTD
$8.91B
$120M 0.03%
1,842,920
-1,557,250
-46% -$120M
FICO icon
574
Fair Isaac
FICO
$23.6B
$119M 0.03%
245,807
+65,595
+36% +$31.2M
LUV icon
575
Southwest Airlines
LUV
$23.9B
$119M 0.03%
1,955,372
-198,549
-9% -$10.6M
21 22
23
24 25

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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.