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 | |
|---|---|---|---|---|---|---|
826
Digital Turbine
APPS
$1.65B
| $65.7M | 0.02% |
817,206
+733,431
| +875% | +$53.6M |
|
827
Texas Roadhouse
TXRH
$13.8B
| $65.4M | 0.02% |
681,949
-30,384
| -4% | -$2.65M |
|
828
StoneCo
STNE
$2.71B
| $65.2M | 0.01% |
1,065,499
+315,646
| +42% | +$24.6M |
|
829
Exelixis
EXEL
$13.7B
| $65.2M | 0.01% |
2,886,714
-148,217
| -5% | -$3.35M |
|
830
Regal Rexnord
RRX
$12.2B
| $65.1M | 0.01% |
456,539
-87,376
| -16% | -$12M |
|
831
Chemed
CHE
$7.1B
| $65.1M | 0.01% |
141,623
-6,992
| -5% | -$3.43M |
|
832
Saia
SAIA
$9.64B
| $64.8M | 0.01% |
281,166
-65,456
| -19% | -$13.3M |
|
833
Liberty Global Class A
LBTYA
$3.68B
| $64.8M | 0.01% |
2,526,505
+323,173
| +15% | +$8.17M |
|
834
Emcor
EME
$36.3B
| $64.7M | 0.01% |
577,083
-31,809
| -5% | -$3.19M |
|
835
Lumentum
LITE
$68.2B
| $64.6M | 0.01% |
707,022
-49,711
| -7% | -$4.6M |
|
836
Acuity Brands
AYI
$10.7B
| $64.6M | 0.01% |
391,320
-425,426
| -52% | -$54.2M |
|
837
Wyndham Hotels & Resorts
WH
$5.64B
| $64.5M | 0.01% |
924,099
-17,662
| -2% | -$1.13M |
|
838
ManpowerGroup
MAN
$2.56B
| $64.4M | 0.01% |
651,239
-28,825
| -4% | -$2.76M |
|
839
Post Holdings
POST
$4.13B
| $64.4M | 0.01% |
930,399
+57,301
| +7% | +$3.75M |
|
840
Ingredion
INGR
$6.53B
| $64.2M | 0.01% |
713,572
-56,469
| -7% | -$4.83M |
|
|
ATH
841
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $64.1M | 0.01% |
1,271,927
-125,332
| -9% | -$5.82M |
|
842
Popular Inc
BPOP
$11.3B
| $64M | 0.01% |
910,538
-120,095
| -12% | -$7.78M |
|
843
Brixmor Property Group
BRX
$9.41B
| $63.9M | 0.01% |
3,160,113
-442,350
| -12% | -$8.29M |
|
|
AY
844
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $63.6M | 0.01% |
1,736,140
+705,830
| +69% | +$27.8M |
|
845
Royal Gold
RGLD
$18.3B
| $63.5M | 0.01% |
589,799
-25,925
| -4% | -$2.77M |
|
|
SYNH
846
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $63.3M | 0.01% |
834,233
+89,149
| +12% | +$6.72M |
|
847
Sunstone Hotel Investors
SHO
$2.12B
| $63.1M | 0.01% |
5,067,936
| – | – |
|
848
AptarGroup
ATR
$8.63B
| $63M | 0.01% |
444,633
-57,000
| -11% | -$7.87M |
|
|
GRUB
849
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $62.8M | 0.01% |
523,133
+116,500
| +29% | +$16.2M |
|
850
COPT Defense Properties
CDP
$4.23B
| $62.8M | 0.01% |
2,384,038
+907,177
| +61% | +$24M |
|
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.