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 | |
|---|---|---|---|---|---|---|
876
Affiliated Managers Group
AMG
$9.87B
| $59.8M | 0.01% |
401,537
+453
| +0.1% | +$59.2K |
|
877
Concentrix
CNXC
$1.58B
| $59.5M | 0.01% |
397,560
-27,890
| -7% | -$3.38M |
|
878
Curtiss-Wright
CW
$26.9B
| $59.5M | 0.01% |
501,320
-31,697
| -6% | -$3.67M |
|
879
BJs Wholesale Club
BJ
$12.4B
| $59.3M | 0.01% |
1,321,280
-107,623
| -8% | -$4.51M |
|
880
Pan American Silver
PAAS
$20.1B
| $59.2M | 0.01% |
1,969,830
+106,530
| +6% | +$3.46M |
|
|
CHNG
881
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| $59.1M | 0.01% |
2,674,322
+27,956
| +1% | +$647K |
|
|
AIRC
882
DELISTED
Apartment Income REIT Corp.
AIRC
| $59.1M | 0.01% |
1,381,507
-100,275
| -7% | -$4.13M |
|
|
PFPT
883
DELISTED
Proofpoint, Inc.
PFPT
| $59M | 0.01% |
469,354
-39,318
| -8% | -$5.12M |
|
884
Huntsman Corp
HUN
$1.83B
| $58.9M | 0.01% |
2,044,063
-42,358
| -2% | -$1.19M |
|
|
CCMP
885
DELISTED
CMC Materials, Inc. Common Stock
CCMP
| $58.9M | 0.01% |
333,059
-95,962
| -22% | -$15.9M |
|
886
Webster Financial
WBS
$12.8B
| $58.9M | 0.01% |
1,068,309
-140,597
| -12% | -$7.49M |
|
887
Descartes Systems
DSGX
$6.52B
| $58.8M | 0.01% |
964,287
-246,928
| -20% | -$15M |
|
888
First American
FAF
$7.61B
| $58.4M | 0.01% |
1,031,652
| – | – |
|
889
Eagle Materials
EXP
$6.51B
| $58.4M | 0.01% |
434,731
-54,197
| -11% | -$6.57M |
|
890
Stantec
STN
$8.33B
| $58.4M | 0.01% |
1,363,105
-67,327
| -5% | -$2.59M |
|
891
Landstar System
LSTR
$6.05B
| $58.1M | 0.01% |
352,228
-14,237
| -4% | -$2.21M |
|
892
Cirrus Logic
CRUS
$6.09B
| $58.1M | 0.01% |
685,489
-110,290
| -14% | -$9.55M |
|
893
8x8 Inc
EGHT
$312M
| $58.1M | 0.01% |
1,789,515
+92,794
| +5% | +$3.21M |
|
894
Azenta
AZTA
$1.42B
| $58M | 0.01% |
710,951
-103,571
| -13% | -$8.35M |
|
895
HF Sinclair
DINO
$14.8B
| $58M | 0.01% |
1,621,945
-194,398
| -11% | -$6.49M |
|
|
CIT
896
DELISTED
CIT Group Inc.
CIT
| $57.9M | 0.01% |
1,124,077
-160,822
| -13% | -$7.21M |
|
897
AutoNation
AN
$7.04B
| $57.8M | 0.01% |
619,729
-61,879
| -9% | -$4.96M |
|
|
XLRN
898
DELISTED
Acceleron Pharma
XLRN
| $57.6M | 0.01% |
425,023
-52,632
| -11% | -$6.8M |
|
899
Omnicell
OMCL
$1.65B
| $57.2M | 0.01% |
440,390
-78,128
| -15% | -$10M |
|
|
HBI
900
DELISTED
Hanesbrands
HBI
| $56.9M | 0.01% |
2,894,398
-1,704,039
| -37% | -$30.2M |
|
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.