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 | |
|---|---|---|---|---|---|---|
126
Vertex Pharmaceuticals
VRTX
$119B
| $655M | 0.15% |
2,771,326
-90,928
| -3% | -$20.9M |
|
127
Automatic Data Processing
ADP
$107B
| $652M | 0.15% |
3,699,029
-458,187
| -11% | -$75.3M |
|
128
Scotiabank
BNS
$108B
| $652M | 0.15% |
12,058,906
+346,903
| +3% | +$16.4M |
|
129
Truist Financial
TFC
$63.4B
| $647M | 0.15% |
13,504,405
+777,517
| +6% | +$35.2M |
|
130
PPG Industries
PPG
$25.3B
| $647M | 0.15% |
4,483,221
+1,458,291
| +48% | +$203M |
|
131
CME Group
CME
$95.7B
| $633M | 0.15% |
3,477,317
-22,942
| -0.7% | -$3.9M |
|
132
DuPont de Nemours
DD
$19.1B
| $624M | 0.15% |
6,994,595
+1,753,159
| +33% | +$138M |
|
133
Equinix
EQIX
$102B
| $617M | 0.14% |
864,371
-129,423
| -13% | -$96.3M |
|
134
Estee Lauder
EL
$30.6B
| $617M | 0.14% |
2,316,494
-19,239
| -0.8% | -$4.63M |
|
135
Federal Realty Investment Trust
FRT
$10.7B
| $614M | 0.14% |
7,212,626
| – | – |
|
136
Progressive
PGR
$122B
| $607M | 0.14% |
6,138,350
+56,938
| +0.9% | +$5.39M |
|
137
Humana
HUM
$45B
| $601M | 0.14% |
1,465,935
-104,868
| -7% | -$43.6M |
|
138
AvalonBay Communities
AVB
$27B
| $599M | 0.14% |
3,730,665
+633,620
| +20% | +$101M |
|
139
Loews
L
$23.9B
| $598M | 0.14% |
13,285,383
-81,779
| -0.6% | -$3.29M |
|
|
XYZ
140
Block Inc
XYZ
$48.9B
| $598M | 0.14% |
2,745,902
-807,006
| -23% | -$157M |
|
141
Intercontinental Exchange
ICE
$85.2B
| $598M | 0.14% |
5,183,110
+160,824
| +3% | +$16.7M |
|
142
General Motors
GM
$79.3B
| $598M | 0.14% |
14,349,406
+1,760,928
| +14% | +$68.5M |
|
143
Global Payments
GPN
$23.6B
| $597M | 0.14% |
2,771,877
+96,832
| +4% | +$18.1M |
|
|
FISV
144
Fiserv Inc
FISV
$29B
| $595M | 0.14% |
5,224,872
-84,436
| -2% | -$9.1M |
|
145
Norfolk Southern
NSC
$75.6B
| $593M | 0.14% |
2,493,597
-16,332
| -0.7% | -$3.72M |
|
146
Enbridge
ENB
$118B
| $582M | 0.14% |
18,207,652
-777,289
| -4% | -$23.6M |
|
147
Canadian Pacific Kansas City
CP
$79.7B
| $581M | 0.14% |
8,384,105
+585,075
| +8% | +$38.1M |
|
148
Sherwin-Williams
SHW
$86B
| $581M | 0.14% |
2,372,487
-91,695
| -4% | -$21.8M |
|
149
Aptiv
APTV
$12.1B
| $576M | 0.13% |
4,423,548
+27,406
| +0.6% | +$3.04M |
|
150
Analog Devices
ADI
$176B
| $575M | 0.13% |
3,891,317
+85,816
| +2% | +$11.4M |
|
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.