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 | |
|---|---|---|---|---|---|---|
|
UCB
1301
United Community Banks
UCB
$4.32B
| $29.4M | 0.01% |
860,625
-152,157
| -15% | -$5M |
|
|
TPH
1302
DELISTED
Tri Pointe Homes
TPH
| $29.3M | 0.01% |
1,438,883
-755,992
| -34% | -$14.9M |
|
1303
BOK Financial
BOKF
$8.8B
| $29.3M | 0.01% |
327,980
+7,693
| +2% | +$652K |
|
1304
Hilton Grand Vacations
HGV
$3.66B
| $29.3M | 0.01% |
781,098
-136,609
| -15% | -$4.92M |
|
1305
Ormat Technologies
ORA
$6.03B
| $29.3M | 0.01% |
372,672
-60,996
| -14% | -$6.04M |
|
1306
Veracyte
VCYT
$3.76B
| $29.3M | 0.01% |
544,459
+518,453
| +1,994% | +$29.9M |
|
1307
Houlihan Lokey
HLI
$8.92B
| $29.2M | 0.01% |
439,202
-168,729
| -28% | -$11.4M |
|
1308
Wolverine World Wide
WWW
$1.6B
| $29.2M | 0.01% |
762,112
-268,312
| -26% | -$9.25M |
|
|
PRMW
1309
DELISTED
Primo Water Corporation
PRMW
| $29.2M | 0.01% |
1,794,560
-438,470
| -20% | -$7.05M |
|
1310
Federated Hermes
FHI
$4.78B
| $29.2M | 0.01% |
931,701
-406,361
| -30% | -$11.9M |
|
|
MANT
1311
DELISTED
Mantech International Corp
MANT
| $29.1M | 0.01% |
334,559
-14,306
| -4% | -$1.25M |
|
1312
Shoals Technologies Group
SHLS
$1.47B
| $29M | 0.01% |
+835,015
| New | +$29.6M |
|
1313
Independent Bank
INDB
$4.08B
| $29M | 0.01% |
344,422
-22,675
| -6% | -$1.89M |
|
|
FMBI
1314
DELISTED
First Midwest Bancorp Inc/IL
FMBI
| $29M | 0.01% |
1,323,446
-125,338
| -9% | -$2.45M |
|
1315
Papa John's
PZZA
$978M
| $29M | 0.01% |
326,795
-24,524
| -7% | -$2.32M |
|
|
PPBI
1316
DELISTED
Pacific Premier Bancorp
PPBI
| $28.9M | 0.01% |
664,865
-551,243
| -45% | -$21.5M |
|
1317
CVB Financial
CVBF
$4.05B
| $28.6M | 0.01% |
1,296,512
-181,877
| -12% | -$3.95M |
|
1318
Brady Corp
BRC
$4.61B
| $28.6M | 0.01% |
535,769
-324,999
| -38% | -$17M |
|
|
FLOW
1319
DELISTED
SPX FLOW, Inc.
FLOW
| $28.5M | 0.01% |
450,201
-151,445
| -25% | -$9.17M |
|
1320
Canadian Solar
CSIQ
$1.04B
| $28.5M | 0.01% |
574,010
-56,374
| -9% | -$2.92M |
|
1321
Medifast
MED
$139M
| $28.5M | 0.01% |
134,422
-15,562
| -10% | -$3.72M |
|
|
CATM
1322
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $28.4M | 0.01% |
731,666
+280,767
| +62% | +$10.9M |
|
1323
Adeia
ADEA
$3.34B
| $28.4M | 0.01% |
4,925,695
-1,015,252
| -17% | -$5.86M |
|
1324
MaxLinear
MXL
$6.26B
| $28.4M | 0.01% |
832,297
-259,366
| -24% | -$9.25M |
|
1325
First Majestic Silver
AG
$8.68B
| $28.2M | 0.01% |
1,809,065
-458,391
| -20% | -$7.35M |
|
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.