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 | |
|---|---|---|---|---|---|---|
1951
ICL Group
ICL
$6.56B
| $3.55M | ﹤0.01% |
604,985
-3,434,942
| -85% | -$19.5M |
|
|
BEST
1952
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
| $3.48M | ﹤0.01% |
92,496
| – | – |
|
|
KDMN
1953
DELISTED
Kadmon Holdings, Inc.
KDMN
| $3.47M | ﹤0.01% |
+891,200
| New | +$4.08M |
|
1954
Nexa Resources
NEXA
$1.7B
| $3.41M | ﹤0.01% |
332,605
-157,661
| -32% | -$1.55M |
|
1955
American Well
AMWL
$180M
| $3.37M | ﹤0.01% |
9,707
+4,707
| +94% | +$2.55M |
|
|
BPYU
1956
DELISTED
Brookfield Property REIT Inc. Class A Common Stock
BPYU
| $3.33M | ﹤0.01% |
185,294
-340,134
| -65% | -$6.03M |
|
|
BNFT
1957
DELISTED
Benefitfocus, Inc.
BNFT
| $3.2M | ﹤0.01% |
231,500
-20,100
| -8% | -$289K |
|
1958
Vericel Corp
VCEL
$2.36B
| $3.17M | ﹤0.01% |
57,059
+40,616
| +247% | +$1.84M |
|
1959
Immunovant
IMVT
$7.91B
| $3.15M | ﹤0.01% |
196,443
+182,074
| +1,267% | +$4.8M |
|
|
EVLO
1960
DELISTED
Evelo Biosciences, Inc. Common Stock
EVLO
| $3.15M | ﹤0.01% |
+14,712
| New | +$4.07M |
|
1961
Extreme Networks
EXTR
$3.92B
| $3.06M | ﹤0.01% |
349,600
| – | – |
|
1962
Atlanta Braves Holdings Series A
BATRA
$3.49B
| $3.01M | ﹤0.01% |
105,656
-35,108
| -25% | -$1.01M |
|
|
SPNS
1963
DELISTED
Sapiens International
SPNS
| $2.9M | ﹤0.01% |
91,941
-30,306
| -25% | -$983K |
|
|
FFIC
1964
DELISTED
Flushing Financial
FFIC
| $2.87M | ﹤0.01% |
135,386
| – | – |
|
|
BBBY
1965
Bed Bath & Beyond
BBBY
$507M
| $2.87M | ﹤0.01% |
47,637
| – | – |
|
1966
Progyny
PGNY
$2.47B
| $2.85M | ﹤0.01% |
64,109
+45,273
| +240% | +$2.12M |
|
1967
Braskem
BAK
$924M
| $2.84M | ﹤0.01% |
200,000
| – | – |
|
1968
Precigen
PGEN
$2.36B
| $2.81M | ﹤0.01% |
407,266
| – | – |
|
1969
Axcelis
ACLS
$4.03B
| $2.77M | ﹤0.01% |
67,536
-38,397
| -36% | -$1.43M |
|
1970
Atkore
ATKR
$3.16B
| $2.75M | ﹤0.01% |
38,193
+22,820
| +148% | +$1.38M |
|
1971
Zumiez
ZUMZ
$345M
| $2.75M | ﹤0.01% |
+64,000
| New | +$2.85M |
|
1972
Eastern Bankshares
EBC
$5.29B
| $2.64M | ﹤0.01% |
+136,860
| New | +$2.38M |
|
1973
Allot
ALLT
$386M
| $2.62M | ﹤0.01% |
164,282
+152,603
| +1,307% | +$2.22M |
|
|
STFC
1974
DELISTED
State Auto Financial Corp
STFC
| $2.62M | ﹤0.01% |
132,653
-125,808
| -49% | -$2.31M |
|
|
MAXN
1975
DELISTED
Maxeon Solar Technologies
MAXN
| $2.61M | ﹤0.01% |
827
+320
| +63% | +$1.22M |
|
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.