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 |
Walmart Inc
WMT
|
+$518M |
| 2 |
Zoom
ZM
|
+$517M |
| 3 |
Alexandria Real Estate Equities
ARE
|
+$376M |
| 4 |
Match Group
MTCH
|
+$249M |
| 5 |
CrowdStrike
CRWD
|
+$217M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$658M |
| 2 |
Linde
LIN
|
+$320M |
| 3 |
Bank of America
BAC
|
+$307M |
| 4 |
PPLI
People Inc
PPLI
|
+$300M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.61% |
| 2 | Consumer Discretionary | 14.53% |
| 3 | Healthcare | 13.24% |
| 4 | Financials | 12.9% |
| 5 | Communication Services | 10.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
RTX Corp
RTX
$290B
| $861M | 0.23% |
14,971,324
-786,223
| -5% | -$47.9M |
|
77
Mondelez International
MDLZ
$79.5B
| $838M | 0.22% |
14,595,107
+118,163
| +0.8% | +$6.58M |
|
78
Gilead Sciences
GILD
$162B
| $837M | 0.22% |
13,241,995
+314,866
| +2% | +$21.8M |
|
79
Advanced Micro Devices
AMD
$776B
| $827M | 0.22% |
10,087,112
+414,192
| +4% | +$30.8M |
|
80
Sempra
SRE
$57.9B
| $823M | 0.22% |
13,906,934
+141,458
| +1% | +$8.71M |
|
81
CVS Health
CVS
$133B
| $807M | 0.21% |
13,826,295
-76,623
| -0.6% | -$4.77M |
|
82
S&P Global
SPGI
$121B
| $806M | 0.21% |
2,234,727
+48,140
| +2% | +$17M |
|
83
Intuit
INTU
$86.5B
| $802M | 0.21% |
2,459,209
-30,432
| -1% | -$9.52M |
|
84
Fidelity National Information Services
FIS
$23.1B
| $785M | 0.21% |
5,334,482
+8,183
| +0.2% | +$1.18M |
|
85
Vertex Pharmaceuticals
VRTX
$121B
| $779M | 0.21% |
2,862,254
+175,851
| +7% | +$48.5M |
|
86
Deere & Co
DE
$160B
| $776M | 0.21% |
3,500,222
+28,833
| +0.8% | +$5.57M |
|
|
87
Zoom
ZM
$28.2B
| $761M | 0.2% |
1,618,109
+1,615,182
| +55,182% | +$517M |
|
88
Canadian National Railway
CNI
$76.9B
| $757M | 0.2% |
7,214,028
-16,209
| -0.2% | -$1.63M |
|
89
Equinix
EQIX
$101B
| $755M | 0.2% |
993,794
-40,714
| -4% | -$30.8M |
|
90
Caterpillar
CAT
$375B
| $738M | 0.2% |
4,945,462
+371,855
| +8% | +$52.2M |
|
91
Zoetis
ZTS
$32.4B
| $736M | 0.2% |
4,452,989
+195,005
| +5% | +$30M |
|
92
Elevance Health
ELV
$81.5B
| $729M | 0.19% |
2,715,203
-1,358
| -0% | -$365K |
|
93
Booking.com
BKNG
$149B
| $727M | 0.19% |
10,625,000
-192,775
| -2% | -$13.5M |
|
94
Intuitive Surgical
ISRG
$127B
| $726M | 0.19% |
3,069,576
+34,251
| +1% | +$7.69M |
|
95
Applied Materials
AMAT
$403B
| $714M | 0.19% |
12,003,856
-53,082
| -0.4% | -$3.28M |
|
96
Illinois Tool Works
ITW
$82.6B
| $714M | 0.19% |
3,693,383
-97,084
| -3% | -$18.4M |
|
97
TJX Companies
TJX
$174B
| $712M | 0.19% |
12,801,578
+10,865
| +0.1% | +$586K |
|
98
3M
MMM
$90.9B
| $712M | 0.19% |
5,313,322
-292,342
| -5% | -$39.3M |
|
|
ATVI
99
DELISTED
Activision Blizzard
ATVI
| $706M | 0.19% |
8,726,575
-233,702
| -3% | -$19M |
|
100
American Express
AXP
$227B
| $705M | 0.19% |
7,034,569
-300,487
| -4% | -$29.6M |
|
Similar funds
Norges Bank's Q3 2020 Portfolio in Review
As of Q3 2020, Norges Bank held 2,199 positions worth $376B, up 8.4% from $347B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Norges Bank's Q3 2020 filing shows 123 new, 615 increased, 1,177 reduced and 71 closed positions. Its largest new stake was Match Group: 2,348,708 shares worth $260M. The largest sale was Apple, an estimated $658M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 23% a quarter earlier, followed by Consumer Discretionary and Healthcare.
- Norges Bank's largest Q3 2020 buy was Match Group: 2,348,708 shares worth $260M.
- Norges Bank added most to Walmart Inc in Q3 2020, an estimated $518M increase.
- Norges Bank's biggest Q3 2020 reduction was Apple, cutting an estimated $658M.
- Norges Bank fully exited Tech Data Corp in Q3 2020, selling an estimated $66.6M.
- Norges Bank's ten largest holdings make up 23% of its $376B portfolio in Q3 2020.
- Norges Bank opened 123 new positions and closed 71 in Q3 2020.
- Norges Bank's portfolio value rose 8.4% quarter-over-quarter to $376B.
Based on Norges Bank's 13F filing for Q3 2020, filed 10 Nov 2020.