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 | |
|---|---|---|---|---|---|---|
1701
Usana Health Sciences
USNA
$286M
| $13.3M | ﹤0.01% |
136,037
-40,878
| -23% | -$3.72M |
|
|
WW
1702
DELISTED
WW International
WW
| $13.2M | ﹤0.01% |
422,369
-278,176
| -40% | -$8.01M |
|
1703
Vicor
VICR
$10.2B
| $13.2M | ﹤0.01% |
154,784
-36,010
| -19% | -$3.39M |
|
1704
Employers Holdings
EIG
$889M
| $12.9M | ﹤0.01% |
300,209
-263,071
| -47% | -$9.16M |
|
|
AVNS
1705
DELISTED
Avanos Medical
AVNS
| $12.9M | ﹤0.01% |
295,490
-91,696
| -24% | -$4.3M |
|
1706
Brookdale Senior Living
BKD
$3.4B
| $12.9M | ﹤0.01% |
2,135,484
+323,319
| +18% | +$1.74M |
|
|
VRE
1707
DELISTED
Veris Residential
VRE
| $12.9M | ﹤0.01% |
833,803
-119,709
| -13% | -$1.69M |
|
|
MDP
1708
DELISTED
Meredith Corporation
MDP
| $12.8M | ﹤0.01% |
430,936
-97,848
| -19% | -$2.58M |
|
1709
Gaotu Techedu
GOTU
$436M
| $12.8M | ﹤0.01% |
377,935
+268,626
| +246% | +$21.9M |
|
1710
Yext
YEXT
$574M
| $12.8M | ﹤0.01% |
883,072
-168,933
| -16% | -$2.82M |
|
1711
DNOW Inc
DNOW
$3.02B
| $12.8M | ﹤0.01% |
1,266,883
-379,519
| -23% | -$3.71M |
|
1712
Matthews International
MATW
$739M
| $12.8M | ﹤0.01% |
323,169
-53,100
| -14% | -$1.87M |
|
|
LMNX
1713
DELISTED
Luminex Corp
LMNX
| $12.8M | ﹤0.01% |
400,374
-233,785
| -37% | -$6.93M |
|
1714
NBT Bancorp
NBTB
$2.74B
| $12.7M | ﹤0.01% |
319,406
+15,617
| +5% | +$574K |
|
1715
Under Armour
UAA
$2.6B
| $12.7M | ﹤0.01% |
574,948
-174,174
| -23% | -$3.64M |
|
|
KRA
1716
DELISTED
Kraton Corporation
KRA
| $12.7M | ﹤0.01% |
347,604
-27,416
| -7% | -$980K |
|
1717
Supernus Pharmaceuticals
SUPN
$2.77B
| $12.7M | ﹤0.01% |
485,679
-45,249
| -9% | -$1.27M |
|
1718
Materion
MTRN
$6.04B
| $12.7M | ﹤0.01% |
190,976
-225,171
| -54% | -$15.6M |
|
|
SAFE
1719
DELISTED
Safehold Inc.
SAFE
| $12.6M | ﹤0.01% |
180,436
-14,900
| -8% | -$1.13M |
|
|
CWEN.A
1720
DELISTED
Clearway Energy Class A
CWEN.A
| $12.6M | ﹤0.01% |
475,948
-445,853
| -48% | -$12.9M |
|
1721
Reynolds Consumer Products
REYN
$5.59B
| $12.6M | ﹤0.01% |
423,543
+16,839
| +4% | +$498K |
|
1722
Core Laboratories
CLB
$521M
| $12.6M | ﹤0.01% |
437,594
-134,803
| -24% | -$4.61M |
|
|
AAMI
1723
Acadian Asset Management
AAMI
$3.2B
| $12.6M | ﹤0.01% |
616,092
-435,471
| -41% | -$8.58M |
|
|
ALEX
1724
DELISTED
Alexander & Baldwin
ALEX
| $12.5M | ﹤0.01% |
746,496
-221,979
| -23% | -$3.8M |
|
1725
Madrigal Pharmaceuticals
MDGL
$11.8B
| $12.5M | ﹤0.01% |
106,566
-42,922
| -29% | -$5M |
|
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.