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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
EHTH icon
1451
eHealth
EHTH
$40.9M
$23.4M 0.01%
322,198
+46,170
+17% +$2.95M
WAFD icon
1452
WaFd
WAFD
$2.79B
$23.4M 0.01%
760,230
-160,255
-17% -$4.79M
WING icon
1453
Wingstop
WING
$3.37B
$23.4M 0.01%
183,849
-106,117
-37% -$14.9M
APG icon
1454
APi Group
APG
$18.1B
$23.3M 0.01%
1,690,312
+1,568,286
+1,285% +$19.7M
RNST icon
1455
Renasant Corp
RNST
$4.03B
$23.3M 0.01%
563,048
-63,494
-10% -$2.52M
DRH icon
1456
Diamondrock Hospitality Co
DRH
$2.74B
$23.3M 0.01%
2,260,128
-318,348
-12% -$3.02M
NWE icon
1457
NorthWestern Energy
NWE
$4.25B
$23.3M 0.01%
356,680
-178,841
-33% -$10.6M
LPRO
1458
DELISTED
Open Lending Corp
LPRO
$23.2M 0.01%
655,245
+608,268
+1,295% +$22.9M
GWB
1459
DELISTED
Great Western Bancorp, Inc.
GWB
$23.2M 0.01%
765,749
-139,934
-15% -$3.81M
QLYS icon
1460
Qualys
QLYS
$6.55B
$23.1M 0.01%
220,633
-136,686
-38% -$15.3M
XHR
1461
Xenia Hotels & Resorts
XHR
$1.89B
$23.1M 0.01%
1,184,448
-386,531
-25% -$6.83M
VRM icon
1462
Vroom Inc
VRM
$46.9M
$23M 0.01%
7,383
+5,481
+288% +$17.8M
RUSHA icon
1463
Rush Enterprises Class A
RUSHA
$6.43B
$23M 0.01%
693,222
-189,250
-21% -$5.65M
COOP
1464
DELISTED
Mr. Cooper
COOP
$23M 0.01%
661,465
+204,057
+45% +$6.45M
BGC icon
1465
BGC Group
BGC
$5.23B
$22.9M 0.01%
4,747,327
+737,592
+18% +$3.14M
NEU icon
1466
NewMarket
NEU
$8.12B
$22.9M 0.01%
60,239
-4,016
-6% -$1.61M
OR icon
1467
OR Royalties Inc
OR
$5.99B
$22.9M 0.01%
2,077,749
-131,072
-6% -$1.5M
CVSA
1468
Covista Inc
CVSA
$4.41B
$22.9M 0.01%
578,024
-122,353
-17% -$4.77M
CCOI icon
1469
Cogent Communications
CCOI
$642M
$22.8M 0.01%
331,730
-130,808
-28% -$8M
CAKE icon
1470
Cheesecake Factory
CAKE
$5.26B
$22.8M 0.01%
389,252
-77,620
-17% -$3.93M
ARI
1471
Apollo Commercial Real Estate
ARI
$873M
$22.6M 0.01%
1,618,779
-445,779
-22% -$5.72M
POR icon
1472
Portland General Electric
POR
$5.78B
$22.6M 0.01%
475,897
-96,696
-17% -$4.22M
IOSP icon
1473
Innospec
IOSP
$2.27B
$22.6M 0.01%
219,924
-104,864
-32% -$10.4M
CXP
1474
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
$22.5M 0.01%
1,317,503
-99,983
-7% -$1.48M
MCY icon
1475
Mercury Insurance
MCY
$5.97B
$22.5M 0.01%
370,055
-139,062
-27% -$7.96M
57 58
59
60 61

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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.