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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
BRKR icon
801
Bruker
BRKR
$7.99B
$67.7M 0.02%
1,052,428
-28,129
-3% -$1.69M
FATE icon
802
Fate Therapeutics
FATE
$303M
$67.6M 0.02%
820,405
-20,308
-2% -$1.95M
COHR
803
DELISTED
Coherent Inc
COHR
$67.5M 0.02%
266,742
-23,514
-8% -$5.22M
MAT icon
804
Mattel
MAT
$4.2B
$67.4M 0.02%
3,385,002
-207,295
-6% -$4.01M
UHAL icon
805
U-Haul Holding Co
UHAL
$14.5B
$67.4M 0.02%
1,100,610
+310,190
+39% +$16.5M
CACI icon
806
CACI
CACI
$11.4B
$67.3M 0.02%
272,778
-17,451
-6% -$4.18M
HRC
807
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
$67.3M 0.02%
609,005
-69,382
-10% -$7.23M
SIRI icon
808
SiriusXM
SIRI
$10.3B
$67M 0.02%
1,100,271
-103,508
-9% -$6.31M
MDU icon
809
MDU Resources
MDU
$4.18B
$67M 0.02%
5,574,541
-33,463
-0.6% -$365K
FLG
810
Flagstar Bank National Association
FLG
$5.96B
$66.9M 0.02%
1,767,133
-4,143
-0.2% -$143K
REXR icon
811
Rexford Industrial Realty
REXR
$8.26B
$66.9M 0.02%
1,326,595
-10,041
-0.8% -$493K
MRTX
812
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$66.8M 0.02%
390,056
-56,434
-13% -$11.2M
SON icon
813
Sonoco
SON
$5.78B
$66.8M 0.02%
1,055,463
+64,816
+7% +$3.95M
NBIX icon
814
Neurocrine Biosciences
NBIX
$16.4B
$66.7M 0.02%
685,602
-21,800
-3% -$2.29M
NVST icon
815
Envista
NVST
$4.66B
$66.7M 0.02%
1,633,951
-363,514
-18% -$13.9M
PB icon
816
Prosperity Bancshares
PB
$8.94B
$66.6M 0.02%
889,011
+55,300
+7% +$4.04M
CUBE icon
817
CubeSmart
CUBE
$9.45B
$66.5M 0.02%
1,758,931
-136,698
-7% -$4.92M
DBX icon
818
Dropbox
DBX
$8.17B
$66.5M 0.02%
2,492,508
-210,895
-8% -$5.07M
RL icon
819
Ralph Lauren
RL
$22.7B
$66.3M 0.02%
538,186
-58,602
-10% -$6.68M
TW icon
820
Tradeweb Markets
TW
$21.6B
$66.2M 0.02%
894,605
-492,470
-36% -$33.8M
TMX
821
DELISTED
Terminix Global Holdings, Inc.
TMX
$66.2M 0.02%
1,387,760
+9,108
+0.7% +$449K
WSC icon
822
WillScot Mobile Mini Holdings
WSC
$4.81B
$66.1M 0.02%
2,382,697
+522,976
+28% +$13.7M
FL
823
DELISTED
Foot Locker
FL
$65.8M 0.02%
1,169,816
+38,712
+3% +$1.97M
ORI icon
824
Old Republic International
ORI
$10.5B
$65.8M 0.02%
3,011,882
-232,740
-7% -$4.66M
AGR
825
DELISTED
Avangrid, Inc.
AGR
$65.7M 0.02%
1,319,185
-71,063
-5% -$3.33M
31 32
33
34 35

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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.