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 | |
|---|---|---|---|---|---|---|
1526
Worthington Enterprises
WOR
$2.83B
| $20.7M | ﹤0.01% |
499,573
-254,835
| -34% | -$9.74M |
|
|
GOOS
1527
Canada Goose Holdings
GOOS
$837M
| $20.7M | ﹤0.01% |
526,303
-55,346
| -10% | -$2.19M |
|
|
MIK
1528
DELISTED
Michaels Stores, Inc
MIK
| $20.7M | ﹤0.01% |
941,579
-111,489
| -11% | -$1.97M |
|
1529
Belden
BDC
$5.05B
| $20.6M | ﹤0.01% |
465,116
-115,020
| -20% | -$5.23M |
|
|
HOUS
1530
DELISTED
Anywhere Real Estate
HOUS
| $20.6M | ﹤0.01% |
1,363,972
-266,549
| -16% | -$4.24M |
|
1531
Kaiser Aluminum
KALU
$2.8B
| $20.6M | ﹤0.01% |
186,719
-2,854
| -2% | -$309K |
|
|
XM
1532
DELISTED
Qualtrics International Inc. Class A Common Stock
XM
| $20.6M | ﹤0.01% |
+624,574
| New | +$25.3M |
|
|
TWO
1533
Two Harbors Investment
TWO
$1.26B
| $20.4M | ﹤0.01% |
694,798
-74,957
| -10% | -$2.05M |
|
1534
Verra Mobility
VRRM
$778M
| $20.3M | ﹤0.01% |
1,502,700
-6,496
| -0.4% | -$90.1K |
|
1535
Bank of N.T. Butterfield & Son
NTB
$2.44B
| $20.3M | ﹤0.01% |
532,064
-182,097
| -25% | -$6.42M |
|
1536
Granite Construction
GVA
$5.32B
| $20.3M | ﹤0.01% |
504,942
-42,035
| -8% | -$1.45M |
|
|
UNIT
1537
Uniti Group
UNIT
$2.33B
| $20.3M | ﹤0.01% |
1,841,443
-974,219
| -35% | -$11.7M |
|
1538
Red Rock Resorts
RRR
$3.68B
| $20.2M | ﹤0.01% |
620,177
-139,376
| -18% | -$4.04M |
|
1539
Ironwood Pharmaceuticals
IRWD
$701M
| $20.2M | ﹤0.01% |
1,807,569
-244,821
| -12% | -$2.59M |
|
1540
AtriCure
ATRC
$2.01B
| $20.1M | ﹤0.01% |
307,199
+278,972
| +988% | +$17.2M |
|
1541
Knowles
KN
$3.36B
| $20.1M | ﹤0.01% |
962,004
-47,771
| -5% | -$972K |
|
|
LTC
1542
LTC Properties
LTC
$2.02B
| $20M | ﹤0.01% |
480,381
-84,190
| -15% | -$3.47M |
|
1543
Tenable Holdings
TENB
$3.98B
| $20M | ﹤0.01% |
552,319
-155,286
| -22% | -$7.02M |
|
|
CORE
1544
DELISTED
Core Mark Holding Co., Inc.
CORE
| $19.9M | ﹤0.01% |
514,527
-56,788
| -10% | -$1.96M |
|
|
POLY
1545
DELISTED
Plantronics, Inc.
POLY
| $19.9M | ﹤0.01% |
510,555
-179,741
| -26% | -$6.75M |
|
1546
Avista
AVA
$3.22B
| $19.8M | ﹤0.01% |
414,282
-68,325
| -14% | -$2.81M |
|
|
MNTV
1547
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $19.8M | ﹤0.01% |
1,079,676
-290,098
| -21% | -$6.53M |
|
1548
Empire State Realty Trust
ESRT
$843M
| $19.7M | ﹤0.01% |
1,773,604
-420,390
| -19% | -$4.38M |
|
1549
Casella Waste Systems
CWST
$5.75B
| $19.7M | ﹤0.01% |
309,544
-231,817
| -43% | -$14M |
|
1550
Cavco Industries
CVCO
$4.45B
| $19.6M | ﹤0.01% |
87,051
-25,947
| -23% | -$5.41M |
|
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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.