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 | |
|---|---|---|---|---|---|---|
1476
Four Corners Property Trust
FCPT
$2.76B
| $22.4M | 0.01% |
817,264
-54,216
| -6% | -$1.49M |
|
1477
InterDigital
IDCC
$8.34B
| $22.4M | 0.01% |
352,910
-70,389
| -17% | -$4.6M |
|
1478
Carpenter Technology
CRS
$28.3B
| $22.4M | 0.01% |
543,445
-84,171
| -13% | -$3.2M |
|
1479
First Merchants
FRME
$2.73B
| $22.3M | 0.01% |
480,058
-125,186
| -21% | -$5.39M |
|
1480
Eldorado Gold
EGO
$8.3B
| $22.3M | 0.01% |
2,061,429
-100,427
| -5% | -$1.19M |
|
1481
Primoris Services
PRIM
$4.77B
| $22.3M | 0.01% |
671,865
+68,784
| +11% | +$2.26M |
|
1482
ASML
ASML
$658B
| $22.2M | 0.01% |
36,000
-141,421
| -80% | -$78.4M |
|
1483
Deluxe
DLX
$1.24B
| $22.2M | 0.01% |
529,492
-113,057
| -18% | -$4.26M |
|
1484
JELD-WEN Holding
JELD
$156M
| $22.2M | 0.01% |
802,103
-127,438
| -14% | -$3.54M |
|
1485
Urban Edge Properties
UE
$2.85B
| $22.2M | 0.01% |
1,342,412
-242,609
| -15% | -$3.82M |
|
1486
PBF Energy
PBF
$8.05B
| $22.2M | 0.01% |
1,565,791
+238,408
| +18% | +$2.85M |
|
|
DNB
1487
DELISTED
Dun & Bradstreet
DNB
| $22.2M | 0.01% |
930,512
+384,882
| +71% | +$9.24M |
|
|
GTM
1488
ZoomInfo Technologies
GTM
$1.05B
| $22.2M | 0.01% |
453,004
-668,593
| -60% | -$33.6M |
|
|
APLS
1489
DELISTED
Apellis Pharmaceuticals
APLS
| $22M | 0.01% |
513,050
-149,647
| -23% | -$7.08M |
|
1490
Progress Software
PRGS
$1.7B
| $22M | 0.01% |
499,561
-232,936
| -32% | -$10.2M |
|
1491
Acadia Pharmaceuticals
ACAD
$4.65B
| $22M | 0.01% |
852,671
-239,861
| -22% | -$10.6M |
|
|
SFIX
1492
Stitch Fix
SFIX
$552M
| $22M | 0.01% |
+443,119
| New | +$31.2M |
|
1493
Corcept Therapeutics
CORT
$11.9B
| $21.9M | 0.01% |
922,254
-282,244
| -23% | -$7.54M |
|
|
ONEM
1494
DELISTED
1Life Healthcare
ONEM
| $21.9M | 0.01% |
561,417
-93,200
| -14% | -$4.38M |
|
|
JOBS
1495
DELISTED
51job Inc
JOBS
| $21.9M | 0.01% |
350,266
| – | – |
|
1496
McGrath RentCorp
MGRC
$2.92B
| $21.9M | 0.01% |
271,148
-86,115
| -24% | -$6.61M |
|
1497
AeroVironment
AVAV
$8.55B
| $21.8M | 0.01% |
188,184
-59,250
| -24% | -$6.92M |
|
|
PMT
1498
PennyMac Mortgage Investment
PMT
$823M
| $21.7M | 0.01% |
1,108,657
-144,174
| -12% | -$2.67M |
|
1499
La-Z-Boy
LZB
$1.64B
| $21.7M | 0.01% |
511,477
+105,184
| +26% | +$4.41M |
|
1500
Piper Sandler
PIPR
$5.13B
| $21.7M | 0.01% |
792,528
-124,976
| -14% | -$3.31M |
|
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.