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 | |
|---|---|---|---|---|---|---|
|
AERI
1926
DELISTED
Aerie Pharmaceuticals
AERI
| $4.38M | ﹤0.01% |
245,226
+250
| +0.1% | +$4.32K |
|
|
ECHO
1927
DELISTED
Echo Global Logistics, Inc.
ECHO
| $4.36M | ﹤0.01% |
138,700
+91,000
| +191% | +$2.65M |
|
1928
United Fire Group
UFCS
$1.34B
| $4.34M | ﹤0.01% |
124,746
-247,643
| -67% | -$7.81M |
|
1929
DigitalOcean
DOCN
$14.9B
| $4.32M | ﹤0.01% |
+102,642
| New | +$4.25M |
|
1930
ZIM Integrated Shipping Services
ZIM
$3.14B
| $4.3M | ﹤0.01% |
+176,787
| New | +$3.64M |
|
1931
Gilat Satellite Networks
GILT
$883M
| $4.26M | ﹤0.01% |
407,969
-213,804
| -34% | -$2.63M |
|
|
BRFS
1932
DELISTED
BRF SA
BRFS
| $4.24M | ﹤0.01% |
943,370
| – | – |
|
1933
Alector
ALEC
$168M
| $4.19M | ﹤0.01% |
207,994
-209,360
| -50% | -$3.75M |
|
|
JAMF
1934
DELISTED
Jamf
JAMF
| $4.15M | ﹤0.01% |
117,436
| – | – |
|
1935
CVR Energy
CVI
$3.31B
| $4.11M | ﹤0.01% |
214,083
-298,788
| -58% | -$6.07M |
|
1936
Roblox
RBLX
$26.2B
| $4.1M | ﹤0.01% |
+63,244
| New | +$4.41M |
|
|
VCRA
1937
DELISTED
VOCERA COMMUNICATIONS, INC.
VCRA
| $4.09M | ﹤0.01% |
106,346
-113,581
| -52% | -$4.9M |
|
1938
Lindsay Corp
LNN
$1.15B
| $4.05M | ﹤0.01% |
24,297
-55,219
| -69% | -$8.57M |
|
1939
Forrester Research
FORR
$221M
| $4M | ﹤0.01% |
94,172
-33,884
| -26% | -$1.47M |
|
|
AAWW
1940
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $3.99M | ﹤0.01% |
66,000
-12,900
| -16% | -$721K |
|
1941
Option Care Health
OPCH
$3.55B
| $3.86M | ﹤0.01% |
+217,682
| New | +$4.08M |
|
1942
iHeartMedia
IHRT
$602M
| $3.86M | ﹤0.01% |
212,686
-50,894
| -19% | -$768K |
|
1943
Mercer International
MERC
$44.8M
| $3.85M | ﹤0.01% |
+267,484
| New | +$3.56M |
|
1944
Republic Bancorp
RBCAA
$1.95B
| $3.82M | ﹤0.01% |
86,303
-172,551
| -67% | -$7.14M |
|
1945
Ameresco
AMRC
$1.2B
| $3.8M | ﹤0.01% |
+78,096
| New | +$4.3M |
|
1946
Cerus
CERS
$433M
| $3.75M | ﹤0.01% |
624,027
-629,372
| -50% | -$4.28M |
|
1947
Dime Commercial Bancshares
DCOM
$1.82B
| $3.65M | ﹤0.01% |
+121,273
| New | +$3.47M |
|
|
SEMR
1948
DELISTED
Semrush
SEMR
| $3.57M | ﹤0.01% |
+300,000
| New | +$3.48M |
|
1949
Cars.com
CARS
$676M
| $3.56M | ﹤0.01% |
+274,914
| New | +$3.6M |
|
|
EGRX
1950
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
| $3.55M | ﹤0.01% |
85,141
-87,033
| -51% | -$4.04M |
|
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.