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 | |
|---|---|---|---|---|---|---|
1801
Skywest
SKYW
$4.55B
| $9.34M | ﹤0.01% |
171,421
-12,587
| -7% | -$620K |
|
1802
Dyne Therapeutics
DYN
$4.84B
| $9.32M | ﹤0.01% |
600,000
+200,000
| +50% | +$3.87M |
|
1803
Heartland Express
HTLD
$977M
| $9.27M | ﹤0.01% |
473,186
-216,544
| -31% | -$4.11M |
|
|
OLO
1804
DELISTED
Olo Inc
OLO
| $9.24M | ﹤0.01% |
+350,000
| New | +$10.5M |
|
|
TVTY
1805
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $9.23M | ﹤0.01% |
413,607
-60,213
| -13% | -$1.38M |
|
1806
Ares Capital
ARCC
$14.1B
| $9.2M | ﹤0.01% |
+491,700
| New | +$8.84M |
|
|
CSR
1807
Centerspace
CSR
$914M
| $9.16M | ﹤0.01% |
134,684
-33,050
| -20% | -$2.36M |
|
1808
Scorpio Tankers
STNG
$3.81B
| $9.14M | ﹤0.01% |
494,894
-107,861
| -18% | -$1.67M |
|
1809
Children's Place
PLCE
$57.6M
| $9.12M | ﹤0.01% |
130,789
-39,065
| -23% | -$2.74M |
|
|
ANAT
1810
DELISTED
American National Group, Inc. Common Stock
ANAT
| $9.1M | ﹤0.01% |
84,338
-76,317
| -48% | -$7.44M |
|
|
EBIX
1811
DELISTED
Ebix Inc
EBIX
| $9.06M | ﹤0.01% |
282,998
-39,278
| -12% | -$1.52M |
|
|
CKH
1812
DELISTED
Seacor Holdings Inc.
CKH
| $9.06M | ﹤0.01% |
222,344
| – | – |
|
|
AAN
1813
DELISTED
The Aaron's Company Inc
AAN
| $9M | ﹤0.01% |
350,451
-19,636
| -5% | -$430K |
|
|
KRTX
1814
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| $8.95M | ﹤0.01% |
74,414
-104,893
| -58% | -$11.9M |
|
1815
Magnachip Semiconductor
MX
$135M
| $8.9M | ﹤0.01% |
+357,534
| New | +$7.02M |
|
|
TPC
1816
Tutor Perini Cor
TPC
$4.55B
| $8.86M | ﹤0.01% |
467,581
| – | – |
|
1817
Atlanta Braves Holdings Series B
BATRK
$3.29B
| $8.85M | ﹤0.01% |
318,256
-51,486
| -14% | -$1.45M |
|
|
AVTA
1818
DELISTED
Avantax, Inc. Common Stock
AVTA
| $8.78M | ﹤0.01% |
527,821
+57,208
| +12% | +$960K |
|
|
CCXI
1819
DELISTED
ChemoCentryx, Inc.
CCXI
| $8.77M | ﹤0.01% |
171,055
-293,042
| -63% | -$17.6M |
|
|
FRTA
1820
DELISTED
Forterra, Inc
FRTA
| $8.63M | ﹤0.01% |
+371,400
| New | +$7.99M |
|
|
KYNB
1821
Kyntra Bio
KYNB
$28.3M
| $8.53M | ﹤0.01% |
9,830
-18,874
| -66% | -$20.1M |
|
|
AIV
1822
Aimco
AIV
$387M
| $8.46M | ﹤0.01% |
1,378,202
-960,135
| -41% | -$4.86M |
|
1823
Camping World
CWH
$685M
| $8.44M | ﹤0.01% |
231,859
-189,418
| -45% | -$6.74M |
|
|
JKS
1824
JinkoSolar
JKS
$827M
| $8.41M | ﹤0.01% |
201,786
| – | – |
|
|
ARR
1825
Armour Residential REIT
ARR
$2.32B
| $8.37M | ﹤0.01% |
137,230
| – | – |
|
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.