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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
UMPQ
1051
DELISTED
Umpqua Holdings Corp
UMPQ
$44.8M 0.01%
2,960,978
+103,653
+4% +$1.42M
VIAV icon
1052
Viavi Solutions
VIAV
$10B
$44.7M 0.01%
2,988,190
+161,417
+6% +$2.15M
GT icon
1053
Goodyear
GT
$1.94B
$44.7M 0.01%
4,096,333
+1,218,460
+42% +$12.3M
ENS icon
1054
EnerSys
ENS
$6.83B
$44.6M 0.01%
537,366
+65,854
+14% +$5.17M
RYN icon
1055
Rayonier
RYN
$6.45B
$44.6M 0.01%
1,674,018
-300,891
-15% -$7.67M
SWX icon
1056
Southwest Gas
SWX
$6.69B
$44.6M 0.01%
734,370
– –
PCH
1057
DELISTED
PotlatchDeltic
PCH
$44.6M 0.01%
891,749
-219,401
-20% -$10.1M
WTS icon
1058
Watts Water Technologies
WTS
$12.6B
$44.3M 0.01%
364,373
-33,997
-9% -$3.89M
NVT icon
1059
nVent Electric
NVT
$26.4B
$44.2M 0.01%
1,897,653
-81,300
-4% -$1.71M
TNET icon
1060
TriNet
TNET
$3.06B
$44.2M 0.01%
548,006
-4,658
-0.8% -$344K
SAGE
1061
DELISTED
Sage Therapeutics
SAGE
$44M 0.01%
509,133
-56,500
-10% -$4.16M
AVNT icon
1062
Avient
AVNT
$3.91B
$44M 0.01%
1,092,335
-4,837
-0.4% -$170K
X
1063
DELISTED
US Steel
X
$44M 0.01%
2,622,955
+158,292
+6% +$1.97M
DIOD icon
1064
Diodes
DIOD
$4.55B
$43.9M 0.01%
622,854
-51,795
-8% -$3.34M
DKS icon
1065
Dick's Sporting Goods
DKS
$17.8B
$43.9M 0.01%
780,845
-6,729
-0.9% -$383K
SKX
1066
DELISTED
Skechers
SKX
$43.9M 0.01%
1,220,769
+42,912
+4% +$1.46M
CCL icon
1067
Carnival Corporation Ltd
CCL
$39.4B
$43.8M 0.01%
2,023,873
+193,753
+11% +$3.44M
ENV
1068
DELISTED
ENVESTNET, INC.
ENV
$43.8M 0.01%
532,413
+50,202
+10% +$4.05M
HI
1069
DELISTED
Hillenbrand
HI
$43.7M 0.01%
1,098,022
+37,300
+4% +$1.29M
UNVR
1070
DELISTED
Univar Solutions Inc.
UNVR
$43.7M 0.01%
2,297,125
-244,898
-10% -$4.42M
CMBT
1071
CMB.TECH NV
CMBT
$4.76B
$43.6M 0.01%
5,423,712
+561,149
+12% +$4.59M
QLYS icon
1072
Qualys
QLYS
$6.29B
$43.5M 0.01%
357,319
-11,717
-3% -$1.16M
COHR
1073
DELISTED
Coherent Inc
COHR
$43.5M 0.01%
290,256
– –
BHVN
1074
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
$43.5M 0.01%
507,638
+19,370
+4% +$1.64M
OLLI icon
1075
Ollie's Bargain Outlet
OLLI
$4.71B
$43.5M 0.01%
531,728
+71,449
+16% +$6.24M
41 42
43
44 45

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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.