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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+7.37%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$437B
AUM Growth
+$8.51B
Cap. Flow
-$15.8B
Cap. Flow %
-3.62%
Top 10 Hldgs %
21.18%
Holding
2,241
New
131
Increased
505
Reduced
1,392
Closed
114

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$576M
2
FERG icon
Ferguson
FERG
+$574M
3
STLA icon
Stellantis
STLA
+$471M
4
IFF icon
International Flavors & Fragrances
IFF
+$425M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$228M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$5.99B
2
AAPL icon
Apple
AAPL
+$1.07B
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$981M
4
TSLA icon
Tesla
TSLA
+$836M
5
TMUS icon
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
ODP
1401
DELISTED
ODP
ODP
$25.3M 0.01%
584,819
+70,786
+14% +$2.96M
BEN icon
1402
Franklin Resources
BEN
$18B
$25.2M 0.01%
852,741
-181,764
-18% -$4.97M
EDIT icon
1403
Editas Medicine
EDIT
$427M
$25.2M 0.01%
600,729
-71,976
-11% -$4.1M
LPSN icon
1404
LivePerson
LPSN
$25.7M
$25.1M 0.01%
31,670
-9,127
-22% -$8.45M
PD icon
1405
PagerDuty
PD
$861M
$25M 0.01%
621,600
-145,566
-19% -$6.65M
LILAK icon
1406
Liberty Latin America Class C
LILAK
$1.65B
$24.9M 0.01%
2,113,133
-370,919
-15% -$4.06M
AVYA
1407
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
$24.9M 0.01%
889,120
-149,514
-14% -$4M
FCFS icon
1408
FirstCash
FCFS
$9.26B
$24.9M 0.01%
378,893
-226,642
-37% -$14.4M
NTCT icon
1409
NETSCOUT
NTCT
$3.05B
$24.9M 0.01%
883,130
-46,279
-5% -$1.36M
CVLT icon
1410
Commault Systems
CVLT
$5.5B
$24.8M 0.01%
385,117
-103,550
-21% -$6.58M
BEAM icon
1411
Beam Therapeutics
BEAM
$2.78B
$24.8M 0.01%
+309,382
New +$29.4M
CDNA icon
1412
CareDx
CDNA
$2.4B
$24.7M 0.01%
363,071
+345,067
+1,917% +$26.8M
IBOC icon
1413
International Bancshares
IBOC
$4.74B
$24.7M 0.01%
532,365
-250,190
-32% -$11M
LGF.B
1414
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$24.7M 0.01%
1,911,315
+631,674
+49% +$8.32M
AMKR icon
1415
Amkor Technology
AMKR
$13.5B
$24.6M 0.01%
1,037,233
-493,580
-32% -$10.1M
XNCR icon
1416
Xencor
XNCR
$1.48B
$24.6M 0.01%
570,519
-244,412
-30% -$11.6M
MC icon
1417
Moelis & Co
MC
$5.11B
$24.5M 0.01%
447,141
-82,823
-16% -$4.44M
CTRE icon
1418
CareTrust REIT
CTRE
$9.6B
$24.5M 0.01%
1,051,516
-236,718
-18% -$5.43M
GDOT icon
1419
Green Dot
GDOT
$748M
$24.5M 0.01%
534,070
-129,208
-19% -$6.73M
SITC icon
1420
SITE Centers
SITC
$171M
$24.4M 0.01%
2,311,116
-723,025
-24% -$6.94M
OSIS icon
1421
OSI Systems
OSIS
$3.86B
$24.3M 0.01%
252,685
-57,798
-19% -$5.49M
MWA icon
1422
Mueller Water Products
MWA
$4.15B
$24.3M 0.01%
1,746,403
-153,038
-8% -$1.99M
RIG icon
1423
Transocean
RIG
$5.68B
$24.3M 0.01%
6,832,271
-1,153,886
-14% -$4.01M
FBC
1424
DELISTED
Flagstar Bancorp, Inc. New
FBC
$24.1M 0.01%
535,357
-121,736
-19% -$5.5M
FWRD icon
1425
Forward Air
FWRD
$479M
$24.1M 0.01%
271,443
-92,528
-25% -$7.75M
55 56
57
58 59

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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.