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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
-17.59%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$281B
AUM Growth
-$77.8B
Cap. Flow
-$1.13B
Cap. Flow %
-0.4%
Top 10 Hldgs %
21.22%
Holding
2,120
New
46
Increased
634
Reduced
723
Closed
74

Top Buys

Rank Stock Value
1
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$575M
2
WMT icon
Walmart Inc
WMT
+$466M
3
TSLA icon
Tesla
TSLA
+$437M
4
AMZN icon
Amazon
AMZN
+$397M
5
REG icon
Regency Centers
REG
+$345M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$1.09B
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$506M
3
LIN icon
Linde
LIN
+$317M
4
SU icon
Suncor Energy
SU
+$289M
5
BLK icon
Blackrock
BLK
+$260M

Sector Composition

Rank Sector Weight
1 Technology 21.16%
2 Healthcare 14.75%
3 Financials 14.39%
4 Consumer Discretionary 11.88%
5 Communication Services 9.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LULU icon
226
lululemon athletica
LULU
$14B
$228M 0.08%
1,204,094
– –
DXCM icon
227
DexCom
DXCM
$31.2B
$228M 0.08%
3,389,872
-267,752
-7% -$16.7M
ORLY icon
228
O'Reilly Automotive
ORLY
$76.3B
$228M 0.08%
11,368,320
-119,070
-1% -$3.04M
AZO icon
229
AutoZone
AZO
$50.1B
$224M 0.08%
265,088
+1,516
+0.6% +$1.58M
SPLK
230
DELISTED
Splunk Inc
SPLK
$224M 0.08%
1,776,430
+391,866
+28% +$57.7M
STZ icon
231
Constellation Brands
STZ
$22.3B
$222M 0.08%
1,547,250
-51,663
-3% -$9.12M
HPQ icon
232
HP
HPQ
$26.1B
$222M 0.08%
12,762,935
-367,234
-3% -$7.43M
CLX icon
233
Clorox
CLX
$12.8B
$219M 0.08%
1,261,411
+62,783
+5% +$10.4M
A icon
234
Agilent Technologies
A
$39.9B
$217M 0.08%
3,032,836
-38,000
-1% -$3.05M
CERN
235
DELISTED
Cerner Corp
CERN
$217M 0.08%
3,443,819
-98,545
-3% -$7.01M
MSI icon
236
Motorola Solutions
MSI
$72.7B
$217M 0.08%
1,631,217
-22,000
-1% -$3.69M
ED icon
237
Consolidated Edison
ED
$39.9B
$217M 0.08%
2,779,083
-523,686
-16% -$45.9M
MNST icon
238
Monster Beverage
MNST
$92.4B
$211M 0.08%
7,510,656
-629,388
-8% -$20.2M
DOW icon
239
Dow Inc
DOW
$21.4B
$211M 0.08%
7,204,768
-218,009
-3% -$9.27M
XYL icon
240
Xylem
XYL
$28.5B
$207M 0.07%
3,174,525
-311,300
-9% -$24.5M
EDU icon
241
New Oriental
EDU
$9.06B
$206M 0.07%
1,902,378
+17,114
+0.9% +$2.2M
CPRT icon
242
Copart
CPRT
$26.8B
$204M 0.07%
11,920,280
– –
VEEV icon
243
Veeva Systems
VEEV
$34.7B
$204M 0.07%
1,302,214
+2,195
+0.2% +$322K
AWK icon
244
American Water Works
AWK
$26.7B
$202M 0.07%
1,690,896
-73,877
-4% -$9.53M
INFO
245
DELISTED
IHS Markit Ltd. Common Shares
INFO
$199M 0.07%
3,315,252
-62,618
-2% -$4.51M
AMP icon
246
Ameriprise Financial
AMP
$49.6B
$199M 0.07%
1,939,296
+43,906
+2% +$6.51M
XLNX
247
DELISTED
Xilinx Inc
XLNX
$198M 0.07%
2,545,840
-632,000
-20% -$55.1M
YUM icon
248
Yum! Brands
YUM
$41.6B
$198M 0.07%
2,891,543
-56,074
-2% -$5.23M
CTXS
249
DELISTED
Citrix Systems Inc
CTXS
$198M 0.07%
1,398,013
+131,656
+10% +$15.7M
VLO icon
250
Valero Energy
VLO
$87.1B
$197M 0.07%
4,347,473
-258,433
-6% -$18.8M
8 9
10
11 12

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Norges Bank's Q1 2020 Portfolio in Review

As of Q1 2020, Norges Bank held 2,120 positions worth $281B, down 22% from $358B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

Norges Bank's Q1 2020 filing shows 46 new, 634 increased, 723 reduced and 74 closed positions. Its largest new stake was Royal Dutch Shell PLC ADS Class B: 12,264,605 shares worth $401M. The largest sale was Apple, an estimated $1.09B.

By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 19% a quarter earlier, followed by Healthcare and Financials.

  • Norges Bank's largest Q1 2020 buy was Royal Dutch Shell PLC ADS Class B: 12,264,605 shares worth $401M.
  • Norges Bank added most to Walmart Inc in Q1 2020, an estimated $466M increase.
  • Norges Bank's biggest Q1 2020 reduction was Apple, cutting an estimated $1.09B.
  • Norges Bank fully exited Wellcare Health Plans, Inc. in Q1 2020, selling an estimated $164M.
  • Norges Bank's ten largest holdings make up 21% of its $281B portfolio in Q1 2020.
  • Norges Bank opened 46 new positions and closed 74 in Q1 2020.
  • Norges Bank's portfolio value fell 22% quarter-over-quarter to $281B.

Based on Norges Bank's 13F filing for Q1 2020, filed 8 May 2020.