Norges Bank’s US Bancorp USB Stock Holding History

Norges Bank’s Portfolio USB Stock Details USB Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-35,372,885	Closed	-$1.89B	–	1344
2025 Q4	$1.89B	Buy	+35,372,885	New	+$1.74B	0.2%	91
2025 Q3	–	Sell	-21,464,864	Closed	-$971M	–	1500
2025 Q2	$971M	Buy	21,464,864 +4,773,775	+29%	+$201M	0.12%	159
2025 Q1	$705M	Buy	16,691,089 +435,101	+3%	+$20.1M	0.1%	187
2024 Q4	$778M	Sell	16,255,988 -560,686	-3%	-$27.6M	0.1%	179
2024 Q3	$769M	Buy	16,816,674 +1,682,949	+11%	+$73.8M	0.11%	180
2024 Q2	$601M	Buy	15,133,725 +371,288	+3%	+$15.1M	0.09%	205
2024 Q1	$660M	Sell	14,762,437 -4,354,247	-23%	-$184M	0.1%	196
2023 Q4	$827M	Sell	19,116,684 -6,961,521	-27%	-$254M	0.14%	138
2023 Q3	$862M	Buy	26,078,205 +9,648,760	+59%	+$352M	0.17%	119
2023 Q2	$543M	Buy	16,429,445 +109,850	+0.7%	+$3.55M	0.11%	182
2023 Q1	$588M	Buy	16,319,595 +1,542,334	+10%	+$68.7M	0.13%	157
2022 Q4	$644M	Buy	14,777,261 +563,710	+4%	+$24.1M	0.16%	134
2022 Q3	$573M	Buy	14,213,551 +370,491	+3%	+$17.1M	0.15%	130
2022 Q2	$637M	Sell	13,843,060 -59,479	-0.4%	-$2.97M	0.16%	115
2022 Q1	$739M	Buy	13,902,539 +218,182	+2%	+$12.5M	0.16%	116
2021 Q4	$769M	Buy	13,684,357 +182,266	+1%	+$10.8M	0.16%	119
2021 Q3	$803M	Sell	13,502,091 -405,412	-3%	-$23.1M	0.18%	108
2021 Q2	$792M	Sell	13,907,503 -165,514	-1%	-$9.71M	0.17%	111
2021 Q1	$778M	Sell	14,073,017 -391,774	-3%	-$19.6M	0.18%	108
2020 Q4	$674M	Sell	14,464,791 -110,349	-0.8%	-$4.67M	0.16%	119
2020 Q3	$523M	Buy	14,575,140 +1,182,942	+9%	+$43.3M	0.14%	137
2020 Q2	$493M	Sell	13,392,198 -99,924	-0.7%	-$3.56M	0.14%	132
2020 Q1	$465M	Sell	13,492,122 -1,064,789	-7%	-$51.3M	0.17%	121
2019 Q4	$863M	Hold	14,556,911	–	–	0.24%	74
2019 Q3	$806M	Sell	14,556,911 -316,085	-2%	-$17.1M	0.25%	77
2019 Q2	$779M	Sell	14,872,996 -1,100,000	-7%	-$56.7M	0.24%	74
2019 Q1	$770M	Buy	15,972,996 +145,465	+0.9%	+$7.29M	0.25%	75
2018 Q4	$723M	Sell	15,827,531 -56,807	-0.4%	-$2.92M	0.27%	75
2018 Q3	$839M	Buy	15,884,338 +946,078	+6%	+$50.1M	0.27%	69
2018 Q2	$747M	Buy	14,938,260 +59,665	+0.4%	+$3.03M	0.26%	73
2018 Q1	$751M	Buy	14,878,595 +37,544	+0.3%	+$2.05M	0.27%	69
2017 Q4	$795M	Sell	14,841,051 -610,980	-4%	-$32.9M	0.29%	62
2017 Q3	$828M	Buy	15,452,031 +698,164	+5%	+$36.5M	0.31%	58
2017 Q2	$766M	Buy	14,753,867 +688,294	+5%	+$35.5M	0.3%	61
2017 Q1	$724M	Sell	14,065,573 -277,810	-2%	-$14.8M	0.3%	65
2016 Q4	$737M	Buy	14,343,383 +276,303	+2%	+$13.1M	0.32%	54
2016 Q3	$576M	Sell	14,067,080 -95,488	-0.7%	-$4.06M	0.27%	72
2016 Q2	$571M	Buy	14,162,568 +614,470	+5%	+$25.6M	0.27%	72
2016 Q1	$550M	Buy	13,548,098 +237,013	+2%	+$9.46M	0.27%	74
2015 Q4	$568M	Sell	13,311,085 -97,753	-0.7%	-$4.18M	0.28%	69
2015 Q3	$550M	Buy	13,408,838 +65,918	+0.5%	+$2.86M	0.29%	65
2015 Q2	$579M	Hold	13,342,920	–	–	0.29%	64
2015 Q1	$583M	Buy	13,342,920 +356,890	+3%	+$15.6M	0.29%	68
2014 Q4	$584M	Buy	12,986,030 +397,555	+3%	+$17.1M	0.3%	65
2014 Q3	$527M	Sell	12,588,475 -11,495,051	-48%	-$486M	0.29%	66
2014 Q2	$1.04B	Buy	24,083,526 +12,041,763	+100%	+$503M	0.28%	71
2014 Q1	$516M	Hold	12,041,763	–	–	0.29%	67
2013 Q4	$486M	Sell	12,041,763 -1,300,690	-10%	-$49.9M	0.28%	68
2013 Q3	$488M	Sell	13,342,453 -340,676	-2%	-$12.6M	0.28%	67
2013 Q2	$495M	Buy	+13,683,129	New	+$469M	0.31%	62

Other funds holding USB

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

MUFG Bank Tokyo 100-8388,, Japan $3.04B AUM 15.55% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

VPM

Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Norges Bank's USB Position: Q1 2026 in Review

Norges Bank sold out of US Bancorp (USB) in Q1 2026, closing a stake of 35,372,885 shares — an estimated $1.89B sold.

Norges Bank first reported a position in USB in Q2 2013 and held it in 50 quarters. The position peaked at $1.89B in Q4 2025. 1,966 funds tracked by Wall St. Rank hold USB as of Q1 2026.

Norges Bank reported no remaining US Bancorp position as of Q1 2026 after selling out during the quarter.
Norges Bank sold 35,372,885 US Bancorp shares in Q1 2026, an estimated $1.89B.
Norges Bank first reported a position in US Bancorp in Q2 2013 and held it in 50 quarters.
Norges Bank's US Bancorp position peaked at $1.89B in Q4 2025.
1,966 funds tracked by Wall St. Rank held US Bancorp as of Q1 2026.

Based on Norges Bank's 13F filing for Q1 2026.