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 |
Meta Platforms (Facebook)
META
|
+$445M |
| 2 |
Unilever
UL
|
+$365M |
| 3 |
Morgan Stanley
MS
|
+$281M |
| 4 |
Salesforce
CRM
|
+$260M |
| 5 |
QuantumScape Corp
QS
|
+$238M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UN
Unilever NV New York Registry Shares
UN
|
+$368M |
| 2 |
American International
AIG
|
+$362M |
| 3 |
3M
MMM
|
+$278M |
| 4 |
Lear
LEA
|
+$269M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
426
Incyte
INCY
$24.3B
| $163M | 0.04% |
1,877,425
+585
| +0% | +$50.6K |
|
427
Teradyne
TER
$60.9B
| $163M | 0.04% |
1,361,940
-581,457
| -30% | -$59.4M |
|
428
TransUnion
TRU
$15.3B
| $163M | 0.04% |
1,644,041
| – | – |
|
429
Agnico Eagle Mines
AEM
$83.8B
| $163M | 0.04% |
2,312,651
-27,792
| -1% | -$2.07M |
|
430
Burlington
BURL
$23.2B
| $163M | 0.04% |
621,843
+15,180
| +3% | +$3.38M |
|
431
Enphase Energy
ENPH
$5.15B
| $162M | 0.04% |
923,732
-24,795
| -3% | -$3.14M |
|
|
BBL
432
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
| $162M | 0.04% |
3,055,000
+160,000
| +6% | +$7.34M |
|
433
Expeditors International
EXPD
$23.7B
| $161M | 0.04% |
1,696,466
-59,166
| -3% | -$5.39M |
|
434
Graphic Packaging
GPK
$3.52B
| $161M | 0.04% |
9,481,728
+2,771,432
| +41% | +$41.9M |
|
435
MGM Resorts International
MGM
$11.4B
| $160M | 0.04% |
5,086,820
+306,133
| +6% | +$7.88M |
|
436
NetApp
NTAP
$36.6B
| $159M | 0.04% |
2,402,076
-258,275
| -10% | -$13.6M |
|
437
HubSpot
HUBS
$12.8B
| $158M | 0.04% |
397,998
-13,583
| -3% | -$4.77M |
|
438
Martin Marietta Materials
MLM
$33.2B
| $157M | 0.04% |
551,212
-5,835
| -1% | -$1.55M |
|
439
Nasdaq
NDAQ
$52.9B
| $156M | 0.04% |
3,526,275
-121,740
| -3% | -$5.15M |
|
440
Principal Financial Group
PFG
$24.6B
| $156M | 0.04% |
3,138,035
-90,319
| -3% | -$4.14M |
|
441
Restaurant Brands International
QSR
$25.8B
| $156M | 0.04% |
2,543,980
+151,349
| +6% | +$8.83M |
|
442
Franco-Nevada
FNV
$43.7B
| $155M | 0.04% |
1,235,728
-108,344
| -8% | -$14.6M |
|
443
Steris
STE
$22.7B
| $155M | 0.04% |
816,759
+1,932
| +0.2% | +$360K |
|
444
Ally Financial
ALLY
$13.6B
| $155M | 0.04% |
4,332,719
-68,656
| -2% | -$2.08M |
|
445
Mid-America Apartment Communities
MAA
$15.7B
| $154M | 0.04% |
1,218,973
| – | – |
|
446
Invitation Homes
INVH
$18.1B
| $154M | 0.04% |
5,187,967
+439,828
| +9% | +$12.7M |
|
447
Ulta Beauty
ULTA
$23.2B
| $154M | 0.04% |
536,084
-22,029
| -4% | -$5.57M |
|
448
Cognex
CGNX
$11.8B
| $154M | 0.04% |
1,917,222
+208,643
| +12% | +$15.2M |
|
449
Royal Caribbean
RCL
$87.6B
| $154M | 0.04% |
2,060,497
+132,075
| +7% | +$9.21M |
|
450
Cencora
COR
$61.7B
| $153M | 0.04% |
1,566,194
-128,390
| -8% | -$12.8M |
|
Similar funds
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.