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 | |
|---|---|---|---|---|---|---|
1226
Quaker Houghton
KWR
$2.94B
| $33.1M | 0.01% |
135,979
-6,474
| -5% | -$1.73M |
|
1227
Targa Resources
TRGP
$55.8B
| $33.1M | 0.01% |
1,043,944
+64,665
| +7% | +$2M |
|
1228
Murphy USA
MUSA
$10.7B
| $33.1M | 0.01% |
229,203
-63,008
| -22% | -$8.14M |
|
1229
Lufax Holding
LU
$1.3B
| $33.1M | 0.01% |
569,843
-30,157
| -5% | -$1.85M |
|
|
JHG
1230
DELISTED
Janus Henderson
JHG
| $33.1M | 0.01% |
1,061,863
+213,437
| +25% | +$6.71M |
|
1231
CONMED
CNMD
$1.48B
| $33M | 0.01% |
252,997
-18,146
| -7% | -$2.18M |
|
1232
Signet Jewelers
SIG
$3.75B
| $32.9M | 0.01% |
568,117
-164,163
| -22% | -$7.71M |
|
|
CBPO
1233
DELISTED
China Biologic Products Holdings, Inc.
CBPO
| $32.9M | 0.01% |
278,011
-33,842
| -11% | -$4M |
|
|
SIX
1234
DELISTED
Six Flags Entertainment Corp.
SIX
| $32.9M | 0.01% |
707,863
-213,761
| -23% | -$8.91M |
|
1235
White Mountains Insurance
WTM
$5.23B
| $32.9M | 0.01% |
29,493
-12,544
| -30% | -$14M |
|
1236
Artisan Partners
APAM
$3.04B
| $32.8M | 0.01% |
628,139
+735
| +0.1% | +$37.5K |
|
1237
EXL Service
EXLS
$5.11B
| $32.7M | 0.01% |
1,815,680
-107,685
| -6% | -$1.84M |
|
1238
GATX Corp
GATX
$6.34B
| $32.7M | 0.01% |
352,899
-28,594
| -7% | -$2.66M |
|
1239
Apple Hospitality REIT
APLE
$3.91B
| $32.7M | 0.01% |
2,245,488
-583,319
| -21% | -$8.1M |
|
1240
Werner Enterprises
WERN
$2.27B
| $32.7M | 0.01% |
693,575
-170,035
| -20% | -$7.39M |
|
1241
SPS Commerce
SPSC
$2.61B
| $32.7M | 0.01% |
329,069
-125,769
| -28% | -$13.3M |
|
|
CADE
1242
DELISTED
Cadence Bank
CADE
| $32.7M | 0.01% |
1,005,684
-27,454
| -3% | -$847K |
|
1243
Hawaiian Electric Industries
HE
$2.17B
| $32.6M | 0.01% |
733,539
-135,622
| -16% | -$4.97M |
|
1244
Ingevity
NGVT
$2.65B
| $32.6M | 0.01% |
431,492
-88,617
| -17% | -$6.45M |
|
1245
Terex
TEX
$7.55B
| $32.6M | 0.01% |
707,242
+207,371
| +41% | +$8.5M |
|
|
STAY
1246
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $32.6M | 0.01% |
1,649,747
-469,440
| -22% | -$7.66M |
|
1247
Integer Holdings
ITGR
$4.24B
| $32.5M | 0.01% |
352,472
-79,680
| -18% | -$6.74M |
|
1248
Diodes
DIOD
$3.93B
| $32.5M | 0.01% |
406,580
-216,274
| -35% | -$17.1M |
|
|
SWAV
1249
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
| $32.4M | 0.01% |
248,619
+222,206
| +841% | +$26.7M |
|
1250
Cannae Holdings
CNNE
$654M
| $32.2M | 0.01% |
813,452
-103,737
| -11% | -$4.19M |
|
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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.