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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
MKL icon
501
Markel Group
MKL
$23.4B
$131M 0.03%
127,051
-525
-0.4% -$523K
HRL icon
502
Hormel Foods
HRL
$13.9B
$131M 0.03%
2,810,784
-352,015
-11% -$17.2M
ABMD
503
DELISTED
Abiomed Inc
ABMD
$131M 0.03%
403,115
-31,634
-7% -$8.75M
FTCH
504
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$130M 0.03%
2,037,021
+183,911
+10% +$8.13M
POOL icon
505
Pool Corp
POOL
$7.46B
$130M 0.03%
348,546
+8,932
+3% +$3.12M
ARMK icon
506
Aramark
ARMK
$14.9B
$130M 0.03%
4,664,418
-24,340
-0.5% -$583K
BKI
507
DELISTED
Black Knight, Inc. Common Stock
BKI
$129M 0.03%
1,460,116
+121,443
+9% +$11M
WAT icon
508
Waters Corp
WAT
$38.8B
$129M 0.03%
520,518
+267
+0.1% +$60.5K
ZS icon
509
Zscaler
ZS
$25.5B
$129M 0.03%
644,415
+48,312
+8% +$7.68M
FMC icon
510
FMC
FMC
$1.34B
$129M 0.03%
1,118,356
-169,399
-13% -$18.9M
PODD icon
511
Insulet
PODD
$9.38B
$128M 0.03%
502,608
-60,387
-11% -$15M
GDS icon
512
GDS Holdings
GDS
$6.31B
$128M 0.03%
1,368,067
+173,781
+15% +$15.4M
BMRN icon
513
BioMarin Pharmaceuticals
BMRN
$11.6B
$127M 0.03%
1,449,496
+32,054
+2% +$2.54M
TME icon
514
Tencent Music
TME
$15.6B
$127M 0.03%
6,600,243
-296,158
-4% -$4.81M
PHM icon
515
Pultegroup
PHM
$25.1B
$127M 0.03%
2,937,843
+9,767
+0.3% +$433K
AVY icon
516
Avery Dennison
AVY
$13.3B
$126M 0.03%
809,903
– –
ENTG icon
517
Entegris
ENTG
$21.5B
$125M 0.03%
1,305,648
– –
CCK icon
518
Crown Holdings
CCK
$13.4B
$125M 0.03%
1,246,979
+65,180
+6% +$5.99M
CHRW icon
519
C.H. Robinson
CHRW
$17.8B
$125M 0.03%
1,328,909
-35,995
-3% -$3.43M
FBIN icon
520
Fortune Brands Innovations
FBIN
$6.17B
$124M 0.03%
1,688,401
+5,615
+0.3% +$410K
CC icon
521
Chemours
CC
$2.23B
$124M 0.03%
4,988,973
+2,551,778
+105% +$60.7M
HZNP
522
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$123M 0.03%
1,681,337
-159,055
-9% -$11.8M
WPC icon
523
W.P. Carey
WPC
$16.6B
$123M 0.03%
1,774,592
-2,319
-0.1% -$155K
WAB icon
524
Wabtec
WAB
$50.1B
$123M 0.03%
1,674,974
+386,048
+30% +$26.4M
AGCO icon
525
AGCO
AGCO
$7.25B
$122M 0.03%
1,181,523
+407,868
+53% +$36.2M
19 20
21
22 23

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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.