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 | |
|---|---|---|---|---|---|---|
|
SKX
976
DELISTED
Skechers
SKX
| $49.4M | 0.01% |
1,184,266
-36,503
| -3% | -$1.38M |
|
977
Flowers Foods
FLO
$1.57B
| $49.4M | 0.01% |
2,074,140
-191,002
| -8% | -$4.36M |
|
978
BlackLine
BL
$1.79B
| $49.3M | 0.01% |
455,224
-17,375
| -4% | -$2.17M |
|
979
Autoliv
ALV
$9.02B
| $49.3M | 0.01% |
531,052
-199,044
| -27% | -$18.4M |
|
980
Tandem Diabetes Care
TNDM
$1.34B
| $49.2M | 0.01% |
558,061
-59,522
| -10% | -$5.53M |
|
981
Crocs
CROX
$6.58B
| $49.2M | 0.01% |
611,752
-215,680
| -26% | -$16.4M |
|
982
Q2 Holdings
QTWO
$3.97B
| $49.2M | 0.01% |
490,763
-180,430
| -27% | -$22.4M |
|
983
Valmont Industries
VMI
$9.58B
| $49.1M | 0.01% |
206,515
-98,438
| -32% | -$21.8M |
|
984
Boyd Gaming
BYD
$6.13B
| $49.1M | 0.01% |
832,297
-218,020
| -21% | -$11.9M |
|
985
Timken Company
TKR
$9.1B
| $49.1M | 0.01% |
604,549
-212,057
| -26% | -$16.9M |
|
986
Clarivate
CLVT
$1.24B
| $49.1M | 0.01% |
1,858,940
-198,544
| -10% | -$5.43M |
|
|
QVCGA
987
DELISTED
QVC Group Inc Series A
QVCGA
| $48.9M | 0.01% |
83,170
+275
| +0.3% | +$169K |
|
988
XP
XP
$8.77B
| $48.9M | 0.01% |
+1,297,637
| New | +$55.4M |
|
989
Integra LifeSciences
IART
$1.38B
| $48.7M | 0.01% |
705,112
-8,118
| -1% | -$550K |
|
|
WCC
990
WESCO International
WCC
$18.2B
| $48.7M | 0.01% |
562,479
-105,784
| -16% | -$8.9M |
|
991
FNB Corp
FNB
$6.84B
| $48.6M | 0.01% |
3,825,377
-644,966
| -14% | -$7.46M |
|
992
Mine Safety
MSA
$7.44B
| $48.6M | 0.01% |
323,791
-68,695
| -18% | -$11.1M |
|
|
BCPC
993
Balchem Corp
BCPC
$5.7B
| $48.5M | 0.01% |
386,449
-64,370
| -14% | -$7.82M |
|
994
BlackBerry
BB
$5.12B
| $48.3M | 0.01% |
5,751,650
-1,081,925
| -16% | -$12.1M |
|
995
iQIYI
IQ
$1.24B
| $48.1M | 0.01% |
2,896,841
+220,996
| +8% | +$5.11M |
|
996
Alarm.com
ALRM
$2.8B
| $48M | 0.01% |
555,472
-155,413
| -22% | -$14.7M |
|
997
H&R Block
HRB
$5.82B
| $47.9M | 0.01% |
2,198,414
-285,003
| -11% | -$5.39M |
|
998
Haemonetics
HAE
$3.8B
| $47.8M | 0.01% |
430,417
-72,952
| -14% | -$9.03M |
|
|
PACW
999
DELISTED
PacWest Bancorp
PACW
| $47.6M | 0.01% |
1,247,276
-155,037
| -11% | -$5.44M |
|
1000
Arrowhead Research
ARWR
$12.3B
| $47.5M | 0.01% |
716,613
-142,168
| -17% | -$11M |
|
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.