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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
RGLD icon
801
Royal Gold
RGLD
$18.5B
$65.5M 0.02%
615,724
+4,339
+0.7% +$501K
CRUS icon
802
Cirrus Logic
CRUS
$6.23B
$65.4M 0.02%
795,779
-67,725
-8% -$5.09M
LSI
803
DELISTED
Life Storage, Inc.
LSI
$65.2M 0.02%
819,717
+30,097
+4% +$2.29M
GRFS
804
Grifois
GRFS
$5.33B
$65.1M 0.02%
3,532,361
-217,686
-6% -$4.03M
PEG icon
805
Public Service Enterprise Group
PEG
$37.4B
$65M 0.02%
1,115,740
-1,573,382
-59% -$91.6M
POWI icon
806
Power Integrations
POWI
$3.29B
$65M 0.02%
793,839
+1,882
+0.2% +$128K
CCMP
807
DELISTED
CMC Materials, Inc. Common Stock
CCMP
$64.9M 0.02%
429,021
-2,408
-0.6% -$361K
PRLB icon
808
Protolabs
PRLB
$2.1B
$64.6M 0.02%
421,175
+43,620
+12% +$6.15M
PEN icon
809
Penumbra
PEN
$12.8B
$64.6M 0.02%
368,907
+21,044
+6% +$4.61M
SITE icon
810
SiteOne Landscape Supply
SITE
$4.3B
$64.5M 0.02%
406,604
+39,630
+11% +$5.43M
PAAS icon
811
Pan American Silver
PAAS
$20.2B
$64.3M 0.02%
1,863,300
– –
TCF
812
DELISTED
TCF Financial Corporation Common Stock
TCF
$64.3M 0.02%
1,736,647
+190,668
+12% +$6.06M
ORI icon
813
Old Republic International
ORI
$10.5B
$64M 0.01%
3,244,622
-86,283
-3% -$1.52M
CUBE icon
814
CubeSmart
CUBE
$9.42B
$63.7M 0.01%
1,895,629
-229,501
-11% -$7.68M
FOLD
815
DELISTED
Amicus Therapeutics
FOLD
$63.4M 0.01%
2,747,126
-963,604
-26% -$19.7M
CARG icon
816
CarGurus
CARG
$3.28B
$63.4M 0.01%
1,999,063
-543,269
-21% -$13.4M
CTVA icon
817
Corteva
CTVA
$51.3B
$63.4M 0.01%
1,636,830
+209,010
+15% +$7.47M
ZWS icon
818
Zurn Elkay Water Solutions
ZWS
$8.6B
$63.2M 0.01%
3,322,136
-472,825
-12% -$8.11M
AGR
819
DELISTED
Avangrid, Inc.
AGR
$63.2M 0.01%
1,390,248
+934,927
+205% +$45.9M
TKR icon
820
Timken Company
TKR
$8.92B
$63.2M 0.01%
816,606
-104
-0% -$7.08K
SGI
821
Somnigroup International
SGI
$13.6B
$63.2M 0.01%
2,339,166
+151,102
+7% +$3.69M
BL icon
822
BlackLine
BL
$1.76B
$63M 0.01%
472,599
+53,691
+13% +$5.99M
STNE icon
823
StoneCo
STNE
$2.69B
$62.9M 0.01%
749,853
+172,805
+30% +$11.6M
MAT icon
824
Mattel
MAT
$4.21B
$62.7M 0.01%
3,592,297
-19,677
-0.5% -$290K
SAIA icon
825
Saia
SAIA
$9.65B
$62.7M 0.01%
346,622
-10,028
-3% -$1.65M
31 32
33
34 35

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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.