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 | |
|---|---|---|---|---|---|---|
1351
Box
BOX
$4.34B
| $28.6M | 0.01% |
1,585,008
+130,017
| +9% | +$2.26M |
|
1352
Minerals Technologies
MTX
$2.4B
| $28.6M | 0.01% |
460,299
+21,400
| +5% | +$1.27M |
|
1353
CorVel
CRVL
$3.06B
| $28.6M | 0.01% |
808,884
| – | – |
|
|
ONEM
1354
DELISTED
1Life Healthcare
ONEM
| $28.6M | 0.01% |
654,617
-34,000
| -5% | -$1.16M |
|
1355
CareTrust REIT
CTRE
$9.74B
| $28.6M | 0.01% |
1,288,234
-58,223
| -4% | -$1.15M |
|
|
BDN
1356
Brandywine Realty Trust
BDN
$551M
| $28.5M | 0.01% |
2,396,682
| – | – |
|
1357
Rambus
RMBS
$10.8B
| $28.5M | 0.01% |
1,632,686
| – | – |
|
1358
Albany International
AIN
$1.72B
| $28.5M | 0.01% |
387,893
-9,000
| -2% | -$567K |
|
|
SUM
1359
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $28.5M | 0.01% |
1,441,898
-919
| -0.1% | -$17.1K |
|
1360
Brookfield Infrastructure
BIPC
$4.89B
| $28.4M | 0.01% |
588,093
+123,949
| +27% | +$5.25M |
|
|
CADE
1361
DELISTED
Cadence Bank
CADE
| $28.3M | 0.01% |
1,033,138
+268,125
| +35% | +$6.77M |
|
1362
Pacira BioSciences
PCRX
$998M
| $28.2M | 0.01% |
471,312
| – | – |
|
|
CSOD
1363
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $28.1M | 0.01% |
638,873
+380,400
| +147% | +$15.7M |
|
1364
Columbia Banking Systems
COLB
$8.91B
| $28.1M | 0.01% |
783,543
+50,869
| +7% | +$1.58M |
|
|
NAV
1365
DELISTED
Navistar International
NAV
| $28.1M | 0.01% |
639,276
| – | – |
|
1366
OR Royalties Inc
OR
$6.05B
| $28M | 0.01% |
2,208,821
+118,527
| +6% | +$1.38M |
|
1367
Forward Air
FWRD
$527M
| $28M | 0.01% |
363,971
-21,823
| -6% | -$1.51M |
|
1368
Westlake Corp
WLK
$10.3B
| $27.9M | 0.01% |
342,355
+23,442
| +7% | +$1.75M |
|
1369
RingCentral
RNG
$5.06B
| $27.8M | 0.01% |
73,329
-454,192
| -86% | -$141M |
|
|
BECN
1370
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $27.8M | 0.01% |
690,940
| – | – |
|
|
VNE
1371
DELISTED
Veoneer, Inc.
VNE
| $27.7M | 0.01% |
1,302,548
+47,822
| +4% | +$905K |
|
1372
GSK
GSK
$105B
| $27.7M | 0.01% |
602,982
+135,418
| +29% | +$6.22M |
|
1373
Cogent Communications
CCOI
$623M
| $27.7M | 0.01% |
462,538
-41,300
| -8% | -$2.44M |
|
|
IBTX
1374
DELISTED
Independent Bank Group, Inc.
IBTX
| $27.6M | 0.01% |
441,986
+33,097
| +8% | +$1.83M |
|
|
JHG
1375
DELISTED
Janus Henderson
JHG
| $27.6M | 0.01% |
848,426
-65,036
| -7% | -$1.86M |
|
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.