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 | |
|---|---|---|---|---|---|---|
1326
Comfort Systems
FIX
$61.1B
| $28.1M | 0.01% |
375,262
-193,272
| -34% | -$12.3M |
|
1327
First Bancorp
FBP
$4.44B
| $28M | 0.01% |
2,486,529
-481,894
| -16% | -$5.06M |
|
|
REGI
1328
DELISTED
Renewable Energy Group, Inc.
REGI
| $28M | 0.01% |
423,591
+374,258
| +759% | +$32.1M |
|
|
NEWR
1329
DELISTED
New Relic, Inc.
NEWR
| $27.9M | 0.01% |
453,657
-19,524
| -4% | -$1.3M |
|
1330
John Wiley & Sons Class A
WLY
$2.76B
| $27.8M | 0.01% |
513,493
-114,813
| -18% | -$5.84M |
|
1331
American States Water
AWR
$3.33B
| $27.8M | 0.01% |
367,770
-72,403
| -16% | -$5.58M |
|
|
CIM
1332
Chimera Investment
CIM
$991M
| $27.7M | 0.01% |
727,031
-74,187
| -9% | -$2.53M |
|
1333
Cardlytics
CDLX
$23.8M
| $27.6M | 0.01% |
25,191
+24,245
| +2,563% | +$32M |
|
1334
New Jersey Resources
NJR
$5.59B
| $27.6M | 0.01% |
692,767
-232,447
| -25% | -$8.86M |
|
1335
Boise Cascade
BCC
$2.98B
| $27.6M | 0.01% |
461,492
-211,069
| -31% | -$11.1M |
|
1336
California Water Service
CWT
$3.08B
| $27.6M | 0.01% |
489,881
-48,388
| -9% | -$2.68M |
|
1337
Westlake Corp
WLK
$10.1B
| $27.6M | 0.01% |
310,670
-31,685
| -9% | -$2.75M |
|
1338
Moog Inc Class A
MOG.A
$12.9B
| $27.6M | 0.01% |
331,668
-48,937
| -13% | -$3.91M |
|
1339
Dave & Buster's
PLAY
$364M
| $27.5M | 0.01% |
574,256
+31,838
| +6% | +$1.24M |
|
1340
First Financial Bancorp
FFBC
$3.61B
| $27.5M | 0.01% |
1,145,507
-160,230
| -12% | -$3.53M |
|
|
DISH
1341
DELISTED
DISH Network Corp.
DISH
| $27.5M | 0.01% |
759,426
+614,859
| +425% | +$20.5M |
|
1342
News Corp Class B
NWS
$17.9B
| $27.5M | 0.01% |
1,171,303
-11,686
| -1% | -$253K |
|
|
CADE
1343
DELISTED
Cadence Bancorporation
CADE
| $27.5M | 0.01% |
1,325,378
-137,928
| -9% | -$2.81M |
|
1344
Coty
COTY
$2.49B
| $27.5M | 0.01% |
3,049,003
-236,635
| -7% | -$1.81M |
|
|
CLDR
1345
DELISTED
Cloudera, Inc.
CLDR
| $27.5M | 0.01% |
2,256,237
+14,587
| +0.7% | +$218K |
|
1346
Axos Financial
AX
$5.89B
| $27.5M | 0.01% |
583,933
-128,533
| -18% | -$5.79M |
|
1347
Winnebago Industries
WGO
$904M
| $27.4M | 0.01% |
357,726
+65,480
| +22% | +$4.72M |
|
|
BHVN
1348
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
| $27.2M | 0.01% |
397,939
-109,699
| -22% | -$8.87M |
|
|
WWE
1349
DELISTED
World Wrestling Entertainment
WWE
| $27.2M | 0.01% |
501,159
-62,033
| -11% | -$3.26M |
|
|
AZEK
1350
DELISTED
The AZEK Co
AZEK
| $27.1M | 0.01% |
644,600
+72,286
| +13% | +$3.09M |
|
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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.