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 | |
|---|---|---|---|---|---|---|
1976
JFrog
FROG
$9.66B
| $2.61M | ﹤0.01% |
58,748
+43,748
| +292% | +$2.52M |
|
1977
Angi Inc
ANGI
$229M
| $2.6M | ﹤0.01% |
19,994
| – | – |
|
1978
AdaptHealth
AHCO
$1.47B
| $2.59M | ﹤0.01% |
+70,381
| New | +$2.49M |
|
|
CSII
1979
DELISTED
Cardiovascular Systems, Inc.
CSII
| $2.58M | ﹤0.01% |
67,249
-154,168
| -70% | -$6.56M |
|
1980
Clear Channel Outdoor Holdings
CCO
$1.23B
| $2.54M | ﹤0.01% |
+1,408,934
| New | +$2.67M |
|
|
FSP
1981
Franklin Street Properties
FSP
$47.2M
| $2.39M | ﹤0.01% |
438,571
-684,729
| -61% | -$3.41M |
|
|
IGMS
1982
DELISTED
IGM Biosciences
IGMS
| $2.37M | ﹤0.01% |
30,933
-22,753
| -42% | -$2.07M |
|
|
PTVE
1983
DELISTED
Pactiv Evergreen Inc. Common stock
PTVE
| $2.37M | ﹤0.01% |
172,186
-621,913
| -78% | -$9.64M |
|
1984
Silicom
SILC
$229M
| $2.33M | ﹤0.01% |
+51,700
| New | +$2.42M |
|
|
DAO
1985
Youdao
DAO
$2.03B
| $2.3M | ﹤0.01% |
96,600
+34,081
| +55% | +$1.08M |
|
|
EGIO
1986
DELISTED
Edgio, Inc. Common Stock
EGIO
| $2.29M | ﹤0.01% |
+16,018
| New | +$2.5M |
|
|
ICPT
1987
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $2.29M | ﹤0.01% |
99,035
-94,586
| -49% | -$2.64M |
|
|
TBIO
1988
DELISTED
Translate Bio, Inc. Common Stock
TBIO
| $2.22M | ﹤0.01% |
134,767
-150,213
| -53% | -$3.42M |
|
1989
NextCure
NXTC
$16.9M
| $2.19M | ﹤0.01% |
+18,271
| New | +$2.65M |
|
|
TCDA
1990
DELISTED
Tricida, Inc. Common Stock
TCDA
| $2.09M | ﹤0.01% |
395,767
-63,802
| -14% | -$401K |
|
|
HSKA
1991
DELISTED
Heska Corp
HSKA
| $2.09M | ﹤0.01% |
+12,400
| New | +$2.2M |
|
1992
Certara
CERT
$1.26B
| $2.05M | ﹤0.01% |
75,000
+55,000
| +275% | +$1.83M |
|
1993
Hudbay
HBM
$10.1B
| $2.04M | ﹤0.01% |
298,229
-518,552
| -63% | -$3.56M |
|
|
NETI
1994
DELISTED
Eneti Inc.
NETI
| $2.03M | ﹤0.01% |
96,726
+44,572
| +85% | +$896K |
|
1995
DMC Global
BOOM
$138M
| $1.98M | ﹤0.01% |
36,508
-28,603
| -44% | -$1.64M |
|
1996
SiTime
SITM
$16B
| $1.97M | ﹤0.01% |
+20,000
| New | +$2.34M |
|
1997
First Interstate BancSystem
FIBK
$3.69B
| $1.96M | ﹤0.01% |
42,626
+16,300
| +62% | +$725K |
|
1998
Black Diamond Therapeutics
BDTX
$96.8M
| $1.94M | ﹤0.01% |
80,000
-20,000
| -20% | -$539K |
|
1999
Vertex
VERX
$2.09B
| $1.88M | ﹤0.01% |
85,714
| – | – |
|
2000
Hydrofarm Holdings
HYFM
$2.57M
| $1.86M | ﹤0.01% |
3,091
+1,591
| +106% | +$1.12M |
|
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.