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 | |
|---|---|---|---|---|---|---|
1101
Semtech
SMTC
$11.3B
| $40.2M | 0.01% |
583,175
-171,148
| -23% | -$12.6M |
|
1102
LivaNova
LIVN
$4.29B
| $40.2M | 0.01% |
544,906
-165,536
| -23% | -$11.8M |
|
1103
Blackbaud
BLKB
$2.08B
| $40.2M | 0.01% |
565,081
-116,324
| -17% | -$8.03M |
|
1104
Commercial Metals
CMC
$8.37B
| $40.1M | 0.01% |
1,301,812
-397,501
| -23% | -$9.84M |
|
1105
Carter's
CRI
$1.47B
| $40.1M | 0.01% |
450,661
-52,604
| -10% | -$4.87M |
|
|
GRP.U
1106
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $40M | 0.01% |
658,411
-74,664
| -10% | -$4.47M |
|
|
VG
1107
DELISTED
Vonage Holdings Corporation
VG
| $40M | 0.01% |
3,386,179
-399,400
| -11% | -$5.2M |
|
1108
Inspire Medical Systems
INSP
$1.74B
| $40M | 0.01% |
193,176
-67,115
| -26% | -$14.3M |
|
1109
Terreno Realty
TRNO
$7.34B
| $40M | 0.01% |
691,628
-38,611
| -5% | -$2.22M |
|
|
EVBG
1110
DELISTED
Everbridge, Inc. Common Stock
EVBG
| $39.8M | 0.01% |
328,663
+4,542
| +1% | +$639K |
|
1111
Ryman Hospitality Properties
RHP
$8.05B
| $39.6M | 0.01% |
511,455
-157,161
| -24% | -$11.6M |
|
|
SAIL
1112
DELISTED
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
| $39.5M | 0.01% |
779,580
-122,718
| -14% | -$6.9M |
|
1113
Innovative Industrial Properties
IIPR
$1.7B
| $39.5M | 0.01% |
219,102
+192,434
| +722% | +$36.9M |
|
1114
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$4.97B
| $39.4M | 0.01% |
702,994
-113,998
| -14% | -$6.86M |
|
1115
RBC Bearings
RBC
$18.1B
| $39.3M | 0.01% |
199,597
-691
| -0.3% | -$130K |
|
1116
Rayonier
RYN
$6.62B
| $39.2M | 0.01% |
1,340,399
-333,619
| -20% | -$9.83M |
|
1117
Intellia Therapeutics
NTLA
$1.53B
| $39.2M | 0.01% |
+488,636
| New | +$32.8M |
|
1118
Insight Enterprises
NSIT
$4.24B
| $39.2M | 0.01% |
410,763
-113,713
| -22% | -$9.74M |
|
1119
Agree Realty
ADC
$9.46B
| $39.1M | 0.01% |
581,644
-11,735
| -2% | -$765K |
|
1120
Hain Celestial
HAIN
$50.3M
| $38.9M | 0.01% |
892,553
-29,119
| -3% | -$1.24M |
|
1121
Iovance Biotherapeutics
IOVA
$1.94B
| $38.8M | 0.01% |
1,224,416
-248,215
| -17% | -$10.3M |
|
1122
United Bankshares
UBSI
$6.72B
| $38.7M | 0.01% |
1,003,554
-258,004
| -20% | -$9.46M |
|
1123
iRhythm Holdings
IRTC
$4.09B
| $38.7M | 0.01% |
278,496
-107,262
| -28% | -$19.2M |
|
|
TRTN
1124
DELISTED
Triton International Limited
TRTN
| $38.7M | 0.01% |
702,983
-92,230
| -12% | -$4.93M |
|
1125
First Hawaiian
FHB
$3.38B
| $38.6M | 0.01% |
1,411,538
-235,454
| -14% | -$6.32M |
|
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.