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 | |
|---|---|---|---|---|---|---|
1376
Jack in the Box
JACK
$349M
| $25.9M | 0.01% |
236,314
-111,099
| -32% | -$11.3M |
|
1377
Vir Biotechnology
VIR
$1.54B
| $25.9M | 0.01% |
505,527
-65,717
| -12% | -$3.54M |
|
1378
Trinity Industries
TRN
$2.58B
| $25.9M | 0.01% |
909,422
-432,842
| -32% | -$12.7M |
|
|
BDN
1379
Brandywine Realty Trust
BDN
$549M
| $25.9M | 0.01% |
2,005,820
-390,862
| -16% | -$4.77M |
|
|
RPAI
1380
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $25.9M | 0.01% |
2,468,459
-502,061
| -17% | -$5.13M |
|
1381
Urban Outfitters
URBN
$6.66B
| $25.9M | 0.01% |
695,552
-204,972
| -23% | -$6.63M |
|
1382
InMode
INMD
$873M
| $25.9M | 0.01% |
+714,800
| New | +$23.2M |
|
|
IBTX
1383
DELISTED
Independent Bank Group, Inc.
IBTX
| $25.8M | 0.01% |
357,402
-84,584
| -19% | -$5.93M |
|
1384
Hecla Mining
HL
$11.1B
| $25.8M | 0.01% |
4,532,719
-575,489
| -11% | -$3.51M |
|
|
TWOU
1385
DELISTED
2U Inc
TWOU
| $25.8M | 0.01% |
22,485
-3,708
| -14% | -$4.7M |
|
1386
Cosan
CSAN
$3.06B
| $25.8M | 0.01% |
+1,596,214
| New | +$25.8M |
|
1387
Mueller Industries
MLI
$15.2B
| $25.8M | 0.01% |
2,491,368
-917,780
| -27% | -$9.02M |
|
1388
Essential Properties Realty Trust
EPRT
$6.64B
| $25.7M | 0.01% |
1,125,551
-155,590
| -12% | -$3.48M |
|
1389
Stepan Co
SCL
$1.46B
| $25.7M | 0.01% |
201,910
-155,969
| -44% | -$19.3M |
|
|
CUB
1390
DELISTED
Cubic Corporation
CUB
| $25.5M | 0.01% |
342,133
-56,171
| -14% | -$3.83M |
|
1391
Dorman Products
DORM
$4.27B
| $25.5M | 0.01% |
248,374
-48,500
| -16% | -$4.84M |
|
|
MYOV
1392
DELISTED
Myovant Sciences Ltd.
MYOV
| $25.5M | 0.01% |
1,238,655
-288,885
| -19% | -$6.58M |
|
|
SFBS
1393
ServisFirst Bancshares
SFBS
$4.95B
| $25.5M | 0.01% |
415,596
+138,527
| +50% | +$6.88M |
|
1394
Schrodinger
SDGR
$1.21B
| $25.5M | 0.01% |
333,668
+10,070
| +3% | +$905K |
|
1395
Credicorp
BAP
$31.7B
| $25.4M | 0.01% |
186,322
-105,626
| -36% | -$16.4M |
|
1396
Hilltop Holdings
HTH
$2.28B
| $25.4M | 0.01% |
744,495
-180,094
| -19% | -$5.91M |
|
1397
Atlantic Union Bankshares
AUB
$6.14B
| $25.4M | 0.01% |
661,769
-112,452
| -15% | -$4.15M |
|
1398
Merit Medical Systems
MMSI
$5.2B
| $25.4M | 0.01% |
423,775
-106,683
| -20% | -$6.11M |
|
1399
Columbia Sportswear
COLM
$2.95B
| $25.4M | 0.01% |
240,179
-36,422
| -13% | -$3.6M |
|
1400
Strategic Education
STRA
$1.89B
| $25.4M | 0.01% |
276,010
-109,545
| -28% | -$9.83M |
|
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.