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 | |
|---|---|---|---|---|---|---|
1151
Madison Square Garden
MSGS
$9.42B
| $37M | 0.01% |
206,450
+6,023
| +3% | +$1.11M |
|
1152
Warner Bros
WBD
$65.1B
| $37M | 0.01% |
850,927
+566,308
| +199% | +$28.3M |
|
1153
Brink's
BCO
$4.77B
| $36.9M | 0.01% |
465,292
+100,368
| +28% | +$7.58M |
|
|
ISBC
1154
DELISTED
Investors Bancorp, Inc.
ISBC
| $36.9M | 0.01% |
2,508,796
-262,943
| -9% | -$3.4M |
|
|
HI
1155
DELISTED
Hillenbrand
HI
| $36.8M | 0.01% |
771,960
-326,062
| -30% | -$15M |
|
|
CTB
1156
DELISTED
Cooper Tire & Rubber Co.
CTB
| $36.7M | 0.01% |
655,321
+27,338
| +4% | +$1.31M |
|
|
APPH
1157
DELISTED
AppHarvest, Inc. Common Stock
APPH
| $36.6M | 0.01% |
+2,000,000
| New | +$51.3M |
|
1158
WD-40
WDFC
$3.15B
| $36.6M | 0.01% |
119,394
-36,935
| -24% | -$11.2M |
|
1159
Franklin Electric
FELE
$4.87B
| $36.6M | 0.01% |
463,033
-207,413
| -31% | -$15.5M |
|
1160
Viavi Solutions
VIAV
$9.6B
| $36.5M | 0.01% |
2,326,448
-661,742
| -22% | -$10.7M |
|
1161
Watts Water Technologies
WTS
$12.1B
| $36.5M | 0.01% |
306,984
-57,389
| -16% | -$7M |
|
1162
Ionis Pharmaceuticals
IONS
$9.01B
| $36.3M | 0.01% |
807,488
+47,063
| +6% | +$2.62M |
|
1163
Grand Canyon Education
LOPE
$3.92B
| $36.2M | 0.01% |
337,543
-89,048
| -21% | -$8.84M |
|
|
VRNT
1164
DELISTED
Verint Systems
VRNT
| $36M | 0.01% |
792,374
-1,008,465
| -56% | -$45.1M |
|
1165
Outfront Media
OUT
$5.64B
| $35.8M | 0.01% |
1,667,453
-336,626
| -17% | -$6.86M |
|
1166
Insmed
INSM
$21.5B
| $35.7M | 0.01% |
1,049,311
+222,775
| +27% | +$8.51M |
|
1167
Constellium
CSTM
$4.02B
| $35.7M | 0.01% |
2,430,286
+967,088
| +66% | +$13.9M |
|
1168
Plexus
PLXS
$7.35B
| $35.7M | 0.01% |
388,789
-36,905
| -9% | -$3.13M |
|
|
PCH
1169
DELISTED
PotlatchDeltic
PCH
| $35.7M | 0.01% |
674,509
-217,240
| -24% | -$11.2M |
|
|
SUM
1170
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $35.7M | 0.01% |
1,295,255
-146,643
| -10% | -$3.69M |
|
1171
Assured Guaranty
AGO
$3.66B
| $35.7M | 0.01% |
843,819
-100,677
| -11% | -$4.03M |
|
|
WRI
1172
DELISTED
Weingarten Realty Investors
WRI
| $35.6M | 0.01% |
1,322,375
-304,710
| -19% | -$7.53M |
|
1173
SSR Mining
SSRM
$6.02B
| $35.4M | 0.01% |
2,482,107
-55,276
| -2% | -$903K |
|
1174
Dana Inc
DAN
$3.01B
| $35.4M | 0.01% |
1,455,619
-552,444
| -28% | -$12.7M |
|
1175
Gibraltar Industries
ROCK
$1.63B
| $35.4M | 0.01% |
386,474
-172,629
| -31% | -$15.8M |
|
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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.