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 | |
|---|---|---|---|---|---|---|
|
ATCO
1651
DELISTED
Atlas Corp.
ATCO
| $15.2M | ﹤0.01% |
1,116,277
-107,921
| -9% | -$1.38M |
|
|
TRQ
1652
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $15.1M | ﹤0.01% |
938,674
| – | – |
|
1653
MakeMyTrip
MMYT
$5.95B
| $15M | ﹤0.01% |
474,887
| – | – |
|
1654
Oxford Industries
OXM
$579M
| $15M | ﹤0.01% |
171,341
-75,344
| -31% | -$5.79M |
|
|
RCM
1655
DELISTED
R1 RCM Inc. Common Stock
RCM
| $15M | ﹤0.01% |
606,210
+539,642
| +811% | +$14.3M |
|
1656
Pediatrix Medical
MD
$2.03B
| $14.9M | ﹤0.01% |
586,864
-378,142
| -39% | -$9.69M |
|
1657
Buckle
BKE
$2.35B
| $14.8M | ﹤0.01% |
377,676
-51,004
| -12% | -$1.92M |
|
1658
AZZ Inc
AZZ
$4.59B
| $14.7M | ﹤0.01% |
292,717
-5,085
| -2% | -$257K |
|
|
CVGW
1659
DELISTED
Calavo Growers
CVGW
| $14.7M | ﹤0.01% |
189,005
-67,879
| -26% | -$5.2M |
|
1660
Dine Brands
DIN
$442M
| $14.6M | ﹤0.01% |
162,502
-17,076
| -10% | -$1.33M |
|
1661
TriMas Corp
TRS
$1.45B
| $14.6M | ﹤0.01% |
481,389
-385,108
| -44% | -$12.7M |
|
1662
Edgewise Therapeutics
EWTX
$4.81B
| $14.6M | ﹤0.01% |
+449,000
| New | +$14.6M |
|
|
DCPH
1663
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $14.6M | ﹤0.01% |
324,868
-109,014
| -25% | -$5.08M |
|
1664
Rocket Pharmaceuticals
RCKT
$376M
| $14.6M | ﹤0.01% |
328,010
+303,010
| +1,212% | +$16.6M |
|
1665
IAMGOLD
IAG
$8.55B
| $14.5M | ﹤0.01% |
4,881,363
-1,680,021
| -26% | -$5.55M |
|
1666
Capitol Federal Financial
CFFN
$1.13B
| $14.5M | ﹤0.01% |
1,096,464
+274,727
| +33% | +$3.64M |
|
1667
Archrock
AROC
$6.26B
| $14.5M | ﹤0.01% |
1,524,907
-481,125
| -24% | -$4.72M |
|
|
PRA
1668
DELISTED
ProAssurance
PRA
| $14.5M | ﹤0.01% |
540,336
-223,521
| -29% | -$5.17M |
|
|
SWI
1669
DELISTED
SolarWinds Corporation Common Stock
SWI
| $14.4M | ﹤0.01% |
783,233
+80,973
| +12% | +$1.39M |
|
1670
CNA Financial
CNA
$14.3B
| $14.4M | ﹤0.01% |
322,522
-96,246
| -23% | -$4.11M |
|
|
BBBY
1671
DELISTED
Bed Bath & Beyond Inc
BBBY
| $14.4M | ﹤0.01% |
493,646
-1,227,492
| -71% | -$34.3M |
|
|
LADR
1672
Ladder Capital
LADR
$1.22B
| $14.4M | ﹤0.01% |
1,216,716
-142,707
| -10% | -$1.55M |
|
|
MCFE
1673
DELISTED
McAfee Corp. Class A Common Stock
MCFE
| $14.3M | ﹤0.01% |
630,457
-1,270,286
| -67% | -$26.4M |
|
1674
Apogee Enterprises
APOG
$888M
| $14.3M | ﹤0.01% |
349,921
-124,042
| -26% | -$4.69M |
|
|
FOE
1675
DELISTED
Ferro Corporation
FOE
| $14.3M | ﹤0.01% |
847,597
-379,656
| -31% | -$6.06M |
|
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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.