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 | |
|---|---|---|---|---|---|---|
|
RAVN
1626
DELISTED
Raven Industries Inc
RAVN
| $16.4M | ﹤0.01% |
428,888
+8,129
| +2% | +$304K |
|
1627
Methode Electronics
MEI
$536M
| $16.4M | ﹤0.01% |
390,137
-113,661
| -23% | -$4.66M |
|
1628
Provident Financial Services
PFS
$3.3B
| $16.3M | ﹤0.01% |
732,788
-224,164
| -23% | -$4.58M |
|
1629
PRA Group
PRAA
$672M
| $16.3M | ﹤0.01% |
440,231
-52,798
| -11% | -$1.92M |
|
1630
Cohen & Steers
CNS
$4.32B
| $16.3M | ﹤0.01% |
249,570
-38,366
| -13% | -$2.62M |
|
1631
Inogen
INGN
$187M
| $16.3M | ﹤0.01% |
310,406
-132,850
| -30% | -$6.63M |
|
1632
SelectQuote
SLQT
$131M
| $16.2M | ﹤0.01% |
550,500
+217,167
| +65% | +$5.69M |
|
|
HTO
1633
H2O America
HTO
$2.6B
| $16.2M | ﹤0.01% |
256,934
-40,908
| -14% | -$2.67M |
|
|
MDLA
1634
DELISTED
Medallia, Inc.
MDLA
| $16.2M | ﹤0.01% |
579,262
-100,821
| -15% | -$3.74M |
|
1635
Kennametal
KMT
$2.75B
| $16.2M | ﹤0.01% |
404,146
-183,518
| -31% | -$7.14M |
|
1636
Newmark Group
NMRK
$2.8B
| $16.1M | ﹤0.01% |
1,611,933
-445,479
| -22% | -$3.99M |
|
1637
Weibo
WB
$1.99B
| $16M | ﹤0.01% |
317,253
-276,110
| -47% | -$13.9M |
|
1638
Astec Industries
ASTE
$1.2B
| $16M | ﹤0.01% |
211,539
+16,070
| +8% | +$1.09M |
|
1639
First Commonwealth Financial
FCF
$2.22B
| $15.9M | ﹤0.01% |
1,106,496
-92,803
| -8% | -$1.23M |
|
1640
AMC Global Media
AMCX
$501M
| $15.8M | ﹤0.01% |
297,599
-164,076
| -36% | -$8.97M |
|
1641
Clearway Energy Class C
CWEN
$4.94B
| $15.6M | ﹤0.01% |
555,449
-137,098
| -20% | -$4.21M |
|
|
SCS
1642
DELISTED
Steelcase
SCS
| $15.6M | ﹤0.01% |
1,083,741
-312,082
| -22% | -$4.42M |
|
1643
Schneider National
SNDR
$6.37B
| $15.5M | ﹤0.01% |
622,515
-176,768
| -22% | -$4.13M |
|
1644
nCino
NCNO
$2.14B
| $15.5M | ﹤0.01% |
231,595
+143,291
| +162% | +$10.2M |
|
|
ALLK
1645
DELISTED
Allakos
ALLK
| $15.4M | ﹤0.01% |
134,225
-149,476
| -53% | -$18.9M |
|
1646
Virgin Galactic
SPCE
$379M
| $15.4M | ﹤0.01% |
25,135
-3,103
| -11% | -$2.34M |
|
1647
Pilgrim's Pride
PPC
$6.42B
| $15.3M | ﹤0.01% |
644,474
-91,659
| -12% | -$2.03M |
|
1648
Sinclair Inc
SBGI
$1.01B
| $15.3M | ﹤0.01% |
522,230
-65,839
| -11% | -$2.19M |
|
1649
Northwest Natural Holdings
NWN
$2.05B
| $15.3M | ﹤0.01% |
282,912
-100,833
| -26% | -$4.84M |
|
|
DCT
1650
DELISTED
Duck Creek Technologies, Inc. Common Stock
DCT
| $15.2M | ﹤0.01% |
337,692
+285,968
| +553% | +$13.8M |
|
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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.