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 | |
|---|---|---|---|---|---|---|
1626
Madrigal Pharmaceuticals
MDGL
$11.9B
| $16.6M | ﹤0.01% |
149,488
-9,994
| -6% | -$1.22M |
|
1627
Pennant Group
PNTG
$1.35B
| $16.5M | ﹤0.01% |
284,979
+1
| +0% | +$48 |
|
1628
Schneider National
SNDR
$6.4B
| $16.5M | ﹤0.01% |
799,283
| – | – |
|
1629
Yext
YEXT
$574M
| $16.5M | ﹤0.01% |
1,052,005
+146,497
| +16% | +$2.51M |
|
1630
AMC Global Media
AMCX
$528M
| $16.5M | ﹤0.01% |
461,675
-66,749
| -13% | -$1.87M |
|
1631
IMAX
IMAX
$2.78B
| $16.4M | ﹤0.01% |
912,002
-151,216
| -14% | -$2.08M |
|
1632
Encore Capital Group
ECPG
$1.99B
| $16.4M | ﹤0.01% |
421,733
| – | – |
|
1633
CNA Financial
CNA
$14.2B
| $16.3M | ﹤0.01% |
418,768
-78,373
| -16% | -$2.67M |
|
1634
Dave & Buster's
PLAY
$364M
| $16.3M | ﹤0.01% |
542,418
+35,997
| +7% | +$800K |
|
1635
La-Z-Boy
LZB
$1.66B
| $16.2M | ﹤0.01% |
406,293
-501,751
| -55% | -$18.6M |
|
1636
Oxford Industries
OXM
$580M
| $16.2M | ﹤0.01% |
246,685
| – | – |
|
1637
BGC Group
BGC
$5.18B
| $16M | ﹤0.01% |
4,009,735
| – | – |
|
|
HEES
1638
DELISTED
H&E Equipment Services
HEES
| $16M | ﹤0.01% |
536,015
-39,547
| -7% | -$1.02M |
|
|
CATM
1639
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $15.9M | ﹤0.01% |
450,899
| – | – |
|
|
FARO
1640
DELISTED
Faro Technologies
FARO
| $15.9M | ﹤0.01% |
224,626
| – | – |
|
1641
Acadia Realty Trust
AKR
$2.95B
| $15.9M | ﹤0.01% |
1,117,348
+120,345
| +12% | +$1.51M |
|
1642
Eagle Bancorp
EGBN
$861M
| $15.8M | ﹤0.01% |
381,763
-15,910
| -4% | -$557K |
|
1643
Orion
OEC
$370M
| $15.5M | ﹤0.01% |
903,366
| – | – |
|
1644
Stratasys
SSYS
$778M
| $15.5M | ﹤0.01% |
747,041
+27,989
| +4% | +$449K |
|
|
ANAT
1645
DELISTED
American National Group, Inc. Common Stock
ANAT
| $15.4M | ﹤0.01% |
160,655
-30,782
| -16% | -$2.48M |
|
|
FSR
1646
DELISTED
Fisker Inc.
FSR
| $15.4M | ﹤0.01% |
+1,047,990
| New | +$15.4M |
|
1647
Vir Biotechnology
VIR
$1.54B
| $15.3M | ﹤0.01% |
571,244
-68,094
| -11% | -$2.21M |
|
1648
Cal-Maine
CALM
$4.02B
| $15.2M | ﹤0.01% |
405,515
+25,788
| +7% | +$992K |
|
|
LGF.A
1649
DELISTED
Lions Gate Entertainment Corp. Class A Voting Shares
LGF.A
| $15.2M | ﹤0.01% |
1,338,670
-130,023
| -9% | -$1.17M |
|
1650
Regenxbio
RGNX
$672M
| $15.2M | ﹤0.01% |
334,857
+5,992
| +2% | +$209K |
|
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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.