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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+17.57%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$428B
AUM Growth
+$51.8B
Cap. Flow
-$935M
Cap. Flow %
-0.22%
Top 10 Hldgs %
22.21%
Holding
2,221
New
93
Increased
782
Reduced
898
Closed
111

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$445M
2
UL icon
Unilever
UL
+$365M
3
MS icon
Morgan Stanley
MS
+$281M
4
CRM icon
Salesforce
CRM
+$260M
5
QS icon
QuantumScape Corp
QS
+$238M

Top Sells

Rank Stock Value
1
UN
Unilever NV New York Registry Shares
UN
+$368M
2
AIG icon
American International
AIG
+$362M
3
MMM icon
3M
MMM
+$278M
4
LEA icon
Lear
LEA
+$269M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$268M

Sector Composition

Rank Sector Weight
1 Technology 23.44%
2 Consumer Discretionary 14.21%
3 Financials 13.78%
4 Healthcare 12.84%
5 Communication Services 10.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRWD icon
251
CrowdStrike
CRWD
$215B
$304M 0.07%
5,743,088
-1,688,664
-23% -$65.8M
DLR icon
252
Digital Realty Trust
DLR
$71.7B
$304M 0.07%
2,177,329
-151,669
-7% -$21.7M
MSI icon
253
Motorola Solutions
MSI
$73.5B
$302M 0.07%
1,773,225
-20,626
-1% -$3.46M
SPOT icon
254
Spotify
SPOT
$98.3B
$301M 0.07%
957,188
-278,539
-23% -$78.6M
YUM icon
255
Yum! Brands
YUM
$40.3B
$301M 0.07%
2,772,712
+29,911
+1% +$3.05M
SBAC icon
256
SBA Communications
SBAC
$19.9B
$298M 0.07%
1,055,596
+23,831
+2% +$7M
JCI icon
257
Johnson Controls International
JCI
$93.1B
$296M 0.07%
6,351,870
+901,410
+17% +$40M
PSX icon
258
Phillips 66
PSX
$82.5B
$296M 0.07%
4,230,160
+134,845
+3% +$7.92M
VRSK icon
259
Verisk Analytics
VRSK
$25.1B
$295M 0.07%
1,423,237
+11,345
+0.8% +$2.21M
VFC icon
260
VF Corp
VFC
$5.99B
$295M 0.07%
3,451,405
+24,036
+0.7% +$1.92M
WOLF icon
261
Wolfspeed
WOLF
$1.41B
$294M 0.07%
2,780,499
+576,514
+26% +$46.3M
AZO icon
262
AutoZone
AZO
$49.4B
$294M 0.07%
248,197
-12,364
-5% -$14.3M
ADM icon
263
Archer Daniels Midland
ADM
$38.5B
$293M 0.07%
5,819,214
+224,917
+4% +$11.1M
AIG icon
264
American International
AIG
$42.1B
$290M 0.07%
7,668,544
-10,281,620
-57% -$362M
CARR icon
265
Carrier Global
CARR
$54.1B
$288M 0.07%
7,634,664
-326,555
-4% -$11.8M
SWKS icon
266
Skyworks Solutions
SWKS
$10.1B
$288M 0.07%
1,882,932
-112,489
-6% -$16.5M
FSLR icon
267
First Solar
FSLR
$26.2B
$287M 0.07%
2,903,173
+929,663
+47% +$80.6M
MRVL icon
268
Marvell Technology
MRVL
$196B
$287M 0.07%
6,039,219
-81,772
-1% -$3.54M
SWK icon
269
Stanley Black & Decker
SWK
$15.5B
$287M 0.07%
1,607,547
-10,797
-0.7% -$1.91M
EIX icon
270
Edison International
EIX
$27.2B
$285M 0.07%
4,537,639
– –
DXCM icon
271
DexCom
DXCM
$32.8B
$283M 0.07%
3,066,592
+210,916
+7% +$18.8M
MRSH
272
Marsh
MRSH
$91.4B
$283M 0.07%
2,422,131
+197,955
+9% +$22.5M
GLW icon
273
Corning
GLW
$137B
$281M 0.07%
7,796,308
-115,949
-1% -$4.12M
TDG icon
274
TransDigm Group
TDG
$71.3B
$281M 0.07%
453,278
+32,526
+8% +$17.9M
MXIM
275
DELISTED
Maxim Integrated Products
MXIM
$280M 0.07%
3,161,895
-46,382
-1% -$3.66M
9 10
11
12 13

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Norges Bank's Q4 2020 Portfolio in Review

As of Q4 2020, Norges Bank held 2,221 positions worth $428B, up 14% from $376B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Norges Bank's Q4 2020 filing shows 93 new, 782 increased, 898 reduced and 111 closed positions. Its largest new stake was Unilever: 5,372,571 shares worth $365M. The largest sale was Unilever NV New York Registry Shares, an estimated $368M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 24% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Norges Bank's largest Q4 2020 buy was Unilever: 5,372,571 shares worth $365M.
  • Norges Bank added most to Meta Platforms (Facebook) in Q4 2020, an estimated $445M increase.
  • Norges Bank's biggest Q4 2020 reduction was American International, cutting an estimated $362M.
  • Norges Bank fully exited Unilever NV New York Registry Shares in Q4 2020, selling an estimated $368M.
  • Norges Bank's ten largest holdings make up 22% of its $428B portfolio in Q4 2020.
  • Norges Bank opened 93 new positions and closed 111 in Q4 2020.
  • Norges Bank's portfolio value rose 14% quarter-over-quarter to $428B.

Based on Norges Bank's 13F filing for Q4 2020, filed 10 Feb 2021.