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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
WTRG icon
351
Essential Utilities
WTRG
$11.3B
$206M 0.05%
4,356,550
+139,300
+3% +$6.19M
CDW icon
352
CDW
CDW
$17.8B
$205M 0.05%
1,558,572
-4,980
-0.3% -$652K
VTRS icon
353
Viatris
VTRS
$20B
$205M 0.05%
10,943,982
+5,687,185
+108% +$92.8M
GIB icon
354
CGI
GIB
$15B
$205M 0.05%
2,584,069
-53,182
-2% -$3.79M
WRK
355
DELISTED
WestRock Company
WRK
$205M 0.05%
4,702,357
+1,096,845
+30% +$45.3M
CHD icon
356
Church & Dwight Co
CHD
$24.5B
$204M 0.05%
2,344,207
+197,921
+9% +$17.5M
ZBRA icon
357
Zebra Technologies
ZBRA
$17.5B
$203M 0.05%
527,983
-29,622
-5% -$9.97M
MKTX icon
358
MarketAxess Holdings
MKTX
$5.72B
$202M 0.05%
354,517
-97
-0% -$52.8K
KKR icon
359
KKR & Co
KKR
$94B
$202M 0.05%
4,983,624
+649,601
+15% +$24.5M
EXAS
360
DELISTED
Exact Sciences
EXAS
$202M 0.05%
1,521,826
+24,367
+2% +$2.95M
DRE
361
DELISTED
Duke Realty Corp.
DRE
$202M 0.05%
5,044,460
-60,214
-1% -$2.35M
U icon
362
Unity
U
$17.2B
$201M 0.05%
1,308,481
-137,740
-10% -$16.7M
VTR icon
363
Ventas
VTR
$47.5B
$201M 0.05%
4,091,662
+2,849
+0.1% +$132K
BHP icon
364
BHP
BHP
$226B
$199M 0.05%
3,414,250
-145,730
-4% -$7.3M
EFX icon
365
Equifax
EFX
$20.7B
$198M 0.05%
1,026,709
+47,770
+5% +$8.03M
SIVB
366
DELISTED
SVB Financial Group
SIVB
$198M 0.05%
509,898
+27,519
+6% +$8.92M
ETSY icon
367
Etsy
ETSY
$7.57B
$197M 0.05%
1,106,272
+38,342
+4% +$5.77M
EPAM icon
368
EPAM Systems
EPAM
$4.92B
$196M 0.05%
545,769
-506
-0.1% -$169K
PAYX icon
369
Paychex
PAYX
$42.2B
$195M 0.05%
2,096,983
-1,145,424
-35% -$102M
MDB icon
370
MongoDB
MDB
$29.5B
$195M 0.05%
543,500
+21,706
+4% +$6.06M
DELL icon
371
Dell
DELL
$287B
$195M 0.05%
5,246,205
+483,369
+10% +$16.8M
HOLX
372
DELISTED
Hologic
HOLX
$194M 0.05%
2,670,154
+9,347
+0.4% +$660K
DVA icon
373
DaVita
DVA
$11.8B
$194M 0.05%
1,649,210
-174,225
-10% -$17.7M
HIG icon
374
Hartford Financial Services
HIG
$39.5B
$193M 0.05%
3,933,263
-175,336
-4% -$7.56M
DRI icon
375
Darden Restaurants
DRI
$24B
$193M 0.05%
1,617,168
-923,021
-36% -$98.8M
13 14
15
16 17

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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.