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 | |
|---|---|---|---|---|---|---|
2001
PagSeguro Digital
PAGS
$2.64B
| $1.29M | ﹤0.01% |
22,743
-150,352
| -87% | -$6.75M |
|
|
ECHO
2002
DELISTED
Echo Global Logistics, Inc.
ECHO
| $1.28M | ﹤0.01% |
+47,700
| New | +$1.34M |
|
2003
Ethan Allen Interiors
ETD
$625M
| $1.28M | ﹤0.01% |
63,233
| – | – |
|
2004
Veracyte
VCYT
$3.84B
| $1.27M | ﹤0.01% |
+26,006
| New | +$1.21M |
|
2005
Atea Pharmaceuticals
AVIR
$387M
| $1.25M | ﹤0.01% |
+30,000
| New | +$967K |
|
|
CELL
2006
DELISTED
PhenomeX Inc. Common Stock
CELL
| $1.25M | ﹤0.01% |
14,000
+10,000
| +250% | +$841K |
|
2007
Stride
LRN
$3.59B
| $1.23M | ﹤0.01% |
58,139
| – | – |
|
|
SNCR
2008
DELISTED
Synchronoss Technologies
SNCR
| $1.23M | ﹤0.01% |
29,176
| – | – |
|
2009
Manitowoc
MTW
$514M
| $1.2M | ﹤0.01% |
90,200
-6,800
| -7% | -$72.5K |
|
2010
V2X
VVX
$2.48B
| $1.2M | ﹤0.01% |
+24,100
| New | +$1.08M |
|
2011
Kiniksa Pharmaceuticals
KNSA
$6.02B
| $1.19M | ﹤0.01% |
67,596
-55,625
| -45% | -$977K |
|
|
LGTY
2012
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $1.17M | ﹤0.01% |
68,166
| – | – |
|
2013
MacroGenics
MGNX
$249M
| $1.17M | ﹤0.01% |
50,958
| – | – |
|
2014
BJ's Restaurants
BJRI
$1.44B
| $1.16M | ﹤0.01% |
+30,000
| New | +$1.02M |
|
2015
Caleres
CAL
$479M
| $1.15M | ﹤0.01% |
73,499
| – | – |
|
2016
Douglas Dynamics
PLOW
$1.03B
| $1.15M | ﹤0.01% |
+26,800
| New | +$1.03M |
|
2017
Koppers
KOP
$989M
| $1.14M | ﹤0.01% |
36,600
-13,700
| -27% | -$357K |
|
2018
Lifecore Biomedical
LFCR
$161M
| $1.14M | ﹤0.01% |
105,044
| – | – |
|
2019
Federal Agricultural Mortgage
AGM
$2.57B
| $1.14M | ﹤0.01% |
+15,300
| New | +$1.06M |
|
2020
Akebia Therapeutics
AKBA
$359M
| $1.13M | ﹤0.01% |
405,178
-409,106
| -50% | -$1.19M |
|
2021
Seer Inc
SEER
$120M
| $1.12M | ﹤0.01% |
+20,000
| New | +$1.27M |
|
2022
Brown-Forman Class A
BF.A
$13.2B
| $1.12M | ﹤0.01% |
15,267
| – | – |
|
|
SEI
2023
Solaris Energy Infrastructure
SEI
$3.53B
| $1.12M | ﹤0.01% |
137,538
| – | – |
|
2024
Adtran
ADTN
$648M
| $1.08M | ﹤0.01% |
73,229
| – | – |
|
2025
The RMR Group
RMR
$325M
| $1.08M | ﹤0.01% |
28,017
| – | – |
|
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.