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 | |
|---|---|---|---|---|---|---|
1776
Southern Copper
SCCO
$163B
| $10.7M | ﹤0.01% |
170,098
+38,127
| +29% | +$2.54M |
|
1777
Enerpac Tool Group
EPAC
$1.9B
| $10.5M | ﹤0.01% |
403,453
-509,880
| -56% | -$12.1M |
|
1778
Palomar
PLMR
$3.61B
| $10.4M | ﹤0.01% |
155,616
-42,152
| -21% | -$3.78M |
|
1779
Groupon
GRPN
$1.04B
| $10.4M | ﹤0.01% |
+206,200
| New | +$8.93M |
|
1780
Theravance Biopharma
TBPH
$875M
| $10.4M | ﹤0.01% |
510,011
-147,670
| -22% | -$2.81M |
|
|
RPT
1781
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $10.3M | ﹤0.01% |
905,531
+155,899
| +21% | +$1.64M |
|
1782
Enviri
NVRI
$671M
| $10.3M | ﹤0.01% |
602,392
-223,032
| -27% | -$4.05M |
|
|
NTUS
1783
DELISTED
Natus Medical Inc
NTUS
| $10.2M | ﹤0.01% |
399,878
-26,358
| -6% | -$676K |
|
|
GTY
1784
Getty Realty Corp
GTY
$2.08B
| $10.2M | ﹤0.01% |
359,058
-116,915
| -25% | -$3.27M |
|
|
OCFT
1785
DELISTED
OneConnect Financial Technology
OCFT
| $10.1M | ﹤0.01% |
68,538
| – | – |
|
|
RUBY
1786
DELISTED
Rubius Therapeutics, Inc
RUBY
| $10.1M | ﹤0.01% |
380,000
-70,000
| -16% | -$1.02M |
|
1787
CTS Corp
CTS
$1.92B
| $10M | ﹤0.01% |
322,682
-113,413
| -26% | -$3.73M |
|
1788
Celestica
CLS
$42.7B
| $10M | ﹤0.01% |
1,197,761
-500,675
| -29% | -$4.27M |
|
|
AZRE
1789
DELISTED
Azure Power Global Limited
AZRE
| $9.94M | ﹤0.01% |
+365,700
| New | +$13.1M |
|
1790
SFL Corp
SFL
$1.61B
| $9.72M | ﹤0.01% |
1,211,548
| – | – |
|
1791
Heron Therapeutics
HRTX
$96.8M
| $9.71M | ﹤0.01% |
599,119
-567,486
| -49% | -$10.1M |
|
1792
Golar LNG
GLNG
$5.03B
| $9.7M | ﹤0.01% |
948,273
+53,936
| +6% | +$606K |
|
1793
Pennant Group
PNTG
$1.34B
| $9.65M | ﹤0.01% |
210,745
-74,234
| -26% | -$4.09M |
|
1794
Stride
LRN
$3.42B
| $9.62M | ﹤0.01% |
319,600
+261,461
| +450% | +$6.79M |
|
1795
Marcus & Millichap
MMI
$1.17B
| $9.56M | ﹤0.01% |
283,744
-68,335
| -19% | -$2.51M |
|
1796
Century Aluminum
CENX
$4.66B
| $9.55M | ﹤0.01% |
540,832
-581,195
| -52% | -$8.28M |
|
|
ITCI
1797
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $9.54M | ﹤0.01% |
281,035
-246,246
| -47% | -$8.54M |
|
1798
CorVel
CRVL
$3.01B
| $9.42M | ﹤0.01% |
275,517
-533,367
| -66% | -$18.6M |
|
|
BPFH
1799
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
| $9.42M | ﹤0.01% |
707,302
-162,995
| -19% | -$2.17M |
|
|
BRSP
1800
BrightSpire Capital
BRSP
$630M
| $9.4M | ﹤0.01% |
1,103,056
| – | – |
|
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.