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 | |
|---|---|---|---|---|---|---|
|
BFS
1901
Saul Centers
BFS
$842M
| $5.37M | ﹤0.01% |
133,905
-8,212
| -6% | -$292K |
|
1902
Columbia Financial
CLBK
$1.11B
| $5.31M | ﹤0.01% |
303,626
-145,653
| -32% | -$2.42M |
|
|
MTSC
1903
DELISTED
MTS Systems Corp
MTSC
| $5.3M | ﹤0.01% |
91,100
+80,568
| +765% | +$4.72M |
|
1904
ATN International
ATNI
$379M
| $5.27M | ﹤0.01% |
107,245
-96,890
| -47% | -$4.59M |
|
|
RDUS
1905
DELISTED
Radius Health, Inc.
RDUS
| $5.2M | ﹤0.01% |
249,377
-95,200
| -28% | -$2.01M |
|
|
NAGE
1906
Niagen Bioscience
NAGE
$281M
| $5.19M | ﹤0.01% |
+555,800
| New | +$4.41M |
|
|
MORF
1907
DELISTED
Morphic Holding, Inc. Common Stock
MORF
| $5.18M | ﹤0.01% |
+81,900
| New | +$3.76M |
|
|
LGF.A
1908
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $5.16M | ﹤0.01% |
344,860
-993,810
| -74% | -$14.9M |
|
|
XIFR
1909
XPLR Infrastructure LP
XIFR
$1.12B
| $5.09M | ﹤0.01% |
+69,800
| New | +$5.37M |
|
|
CNST
1910
DELISTED
Constellation Pharmaceuticals, Inc.
CNST
| $5M | ﹤0.01% |
+214,000
| New | +$6.48M |
|
|
YALA
1911
Yalla Group
YALA
$840M
| $5M | ﹤0.01% |
200,000
| – | – |
|
|
WIFI
1912
DELISTED
Boingo Wireless, Inc.
WIFI
| $4.89M | ﹤0.01% |
+347,800
| New | +$4.53M |
|
1913
Marten Transport
MRTN
$1.22B
| $4.78M | ﹤0.01% |
281,800
+56,300
| +25% | +$952K |
|
1914
MINISO
MNSO
$3.84B
| $4.7M | ﹤0.01% |
195,515
-274,485
| -58% | -$7.72M |
|
|
GOCO
1915
DELISTED
GoHealth
GOCO
| $4.68M | ﹤0.01% |
26,667
-6,666
| -20% | -$1.34M |
|
|
CMO
1916
DELISTED
Capstead Mortgage Corp.
CMO
| $4.64M | ﹤0.01% |
744,344
-229,276
| -24% | -$1.35M |
|
|
NVMI
1917
Nova
NVMI
$12.5B
| $4.63M | ﹤0.01% |
52,663
-142,910
| -73% | -$11.5M |
|
1918
Broadstone Net Lease
BNL
$4.08B
| $4.57M | ﹤0.01% |
249,704
| – | – |
|
|
GSKY
1919
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
| $4.56M | ﹤0.01% |
+736,426
| New | +$4.22M |
|
1920
Costamare
CMRE
$1.87B
| $4.48M | ﹤0.01% |
+465,286
| New | +$4.34M |
|
|
ZUO
1921
DELISTED
Zuora, Inc.
ZUO
| $4.47M | ﹤0.01% |
302,100
-92,100
| -23% | -$1.37M |
|
1922
Liberty Latin America Class A
LILA
$1.69B
| $4.46M | ﹤0.01% |
511,661
| – | – |
|
1923
Allegro MicroSystems
ALGM
$7.74B
| $4.44M | ﹤0.01% |
175,000
+100,000
| +133% | +$2.86M |
|
|
SY
1924
So-Young International
SY
$193M
| $4.43M | ﹤0.01% |
449,349
| – | – |
|
1925
Leslie's
LESL
$10.1M
| $4.42M | ﹤0.01% |
9,029
-971
| -10% | -$496K |
|
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.