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 | |
|---|---|---|---|---|---|---|
2051
Clarus
CLAR
$127M
| $1.02M | ﹤0.01% |
+59,900
| New | +$1.02M |
|
|
PROS
2052
DELISTED
ProSight Global, Inc.
PROS
| $1.01M | ﹤0.01% |
+79,956
| New | +$1.01M |
|
2053
Copa Holdings
CPA
$5.96B
| $1M | ﹤0.01% |
12,433
| – | – |
|
|
RDUS
2054
DELISTED
Radius Recycling
RDUS
| $987K | ﹤0.01% |
23,625
-97,498
| -80% | -$3.55M |
|
2055
NN Inc
NNBR
$279M
| $982K | ﹤0.01% |
138,878
| – | – |
|
|
CCRD
2056
DELISTED
CoreCard
CCRD
| $978K | ﹤0.01% |
+23,900
| New | +$978K |
|
2057
Brown-Forman Class A
BF.A
$12.9B
| $972K | ﹤0.01% |
15,267
| – | – |
|
|
ONTF
2058
DELISTED
ON24
ONTF
| $970K | ﹤0.01% |
+20,000
| New | +$1.17M |
|
|
UBA
2059
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
| $967K | ﹤0.01% |
58,051
| – | – |
|
2060
Clearwater Paper
CLW
$359M
| $883K | ﹤0.01% |
23,470
-17,418
| -43% | -$695K |
|
2061
Sprout Social
SPT
$514M
| $866K | ﹤0.01% |
+15,000
| New | +$940K |
|
2062
RLX Technology
RLX
$2.43B
| $858K | ﹤0.01% |
+82,842
| New | +$1.59M |
|
2063
Kymera Therapeutics
KYMR
$8.25B
| $856K | ﹤0.01% |
22,030
+7,030
| +47% | +$423K |
|
|
TUFN
2064
DELISTED
Tufin Software Technologies Ltd.
TUFN
| $853K | ﹤0.01% |
+81,226
| New | +$1.14M |
|
2065
OrthoPediatrics
KIDS
$536M
| $830K | ﹤0.01% |
17,018
+6,828
| +67% | +$328K |
|
2066
Tredegar Corp
TG
$267M
| $814K | ﹤0.01% |
54,222
-50,023
| -48% | -$800K |
|
|
TRST
2067
Trustco Bank Corp NY
TRST
$975M
| $807K | ﹤0.01% |
21,907
-283,190
| -93% | -$9.98M |
|
2068
Ethan Allen Interiors
ETD
$598M
| $787K | ﹤0.01% |
28,496
-34,737
| -55% | -$874K |
|
|
QADA
2069
DELISTED
QAD Inc.
QADA
| $786K | ﹤0.01% |
11,800
| – | – |
|
2070
Arlo Technologies
ARLO
$1.63B
| $782K | ﹤0.01% |
124,478
-363,606
| -74% | -$2.85M |
|
2071
Universal Insurance Holdings
UVE
$1.23B
| $769K | ﹤0.01% |
53,600
-96,200
| -64% | -$1.44M |
|
2072
Orion Energy Systems
OESX
$41.5M
| $764K | ﹤0.01% |
+10,970
| New | +$1.02M |
|
|
YSG
2073
Yatsen Holding
YSG
$307M
| $762K | ﹤0.01% |
12,343
-65,657
| -84% | -$5.97M |
|
2074
BellRing Brands
BRBR
$1.51B
| $746K | ﹤0.01% |
+31,600
| New | +$769K |
|
2075
Modine Manufacturing
MOD
$10.4B
| $668K | ﹤0.01% |
45,254
-87,118
| -66% | -$1.24M |
|
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.