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 | |
|---|---|---|---|---|---|---|
|
QTS
1201
DELISTED
QTS REALTY TRUST, INC.
QTS
| $34.1M | 0.01% |
549,686
-109,895
| -17% | -$6.86M |
|
1202
Cabot Corp
CBT
$4.36B
| $34.1M | 0.01% |
649,792
-166,058
| -20% | -$8.19M |
|
1203
Texas Capital Bancshares
TCBI
$4.35B
| $34M | 0.01% |
479,356
-128,452
| -21% | -$9.44M |
|
1204
Allogene Therapeutics
ALLO
$673M
| $33.9M | 0.01% |
960,171
-176,037
| -15% | -$5.94M |
|
1205
Federal Signal
FSS
$7.95B
| $33.8M | 0.01% |
883,668
+146,311
| +20% | +$5.29M |
|
|
VNET
1206
VNET Group
VNET
$2.06B
| $33.8M | 0.01% |
1,047,255
| – | – |
|
1207
Old National Bancorp
ONB
$10.3B
| $33.8M | 0.01% |
1,748,514
-133,597
| -7% | -$2.48M |
|
|
OPTU
1208
Optimum Communications Inc
OPTU
$307M
| $33.8M | 0.01% |
1,038,613
-604,487
| -37% | -$21.1M |
|
1209
AMN Healthcare
AMN
$1.27B
| $33.7M | 0.01% |
457,230
-89,605
| -16% | -$6.66M |
|
|
PSB
1210
DELISTED
PS Business Parks, Inc.
PSB
| $33.6M | 0.01% |
217,486
-33,276
| -13% | -$4.78M |
|
1211
Ambarella
AMBA
$3.59B
| $33.6M | 0.01% |
334,835
+5,693
| +2% | +$620K |
|
1212
TriNet
TNET
$3.14B
| $33.6M | 0.01% |
430,678
-117,328
| -21% | -$9.47M |
|
1213
Graham Holdings Company
GHC
$5.14B
| $33.5M | 0.01% |
59,504
-8,246
| -12% | -$4.78M |
|
1214
Silgan Holdings
SLGN
$4.51B
| $33.4M | 0.01% |
795,210
-189,102
| -19% | -$7.38M |
|
1215
O-I Glass
OI
$1.15B
| $33.4M | 0.01% |
2,265,463
-525,891
| -19% | -$6.78M |
|
1216
Pebblebrook Hotel Trust
PEB
$2.15B
| $33.4M | 0.01% |
1,374,562
-364,187
| -21% | -$8M |
|
1217
Steven Madden
SHOO
$3.59B
| $33.4M | 0.01% |
895,682
-232,694
| -21% | -$8.47M |
|
|
EQC
1218
DELISTED
Equity Commonwealth
EQC
| $33.4M | 0.01% |
1,200,135
-82,831
| -6% | -$2.34M |
|
1219
Box
BOX
$4.43B
| $33.3M | 0.01% |
1,451,113
-133,895
| -8% | -$2.61M |
|
1220
Cerence
CRNC
$417M
| $33.3M | 0.01% |
371,542
-128,075
| -26% | -$14.1M |
|
1221
Vertiv
VRT
$107B
| $33.3M | 0.01% |
+1,663,789
| New | +$33.6M |
|
1222
Sprouts Farmers Market
SFM
$7.94B
| $33.3M | 0.01% |
1,249,584
-193,048
| -13% | -$4.39M |
|
1223
Bank of Hawaii
BOH
$3.14B
| $33.2M | 0.01% |
371,315
-50,666
| -12% | -$4.41M |
|
|
UFS
1224
DELISTED
DOMTAR CORPORATION (New)
UFS
| $33.2M | 0.01% |
898,240
+114,155
| +15% | +$3.94M |
|
1225
Kulicke & Soffa
KLIC
$4.91B
| $33.2M | 0.01% |
675,691
-173,954
| -20% | -$7.55M |
|
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.