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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
+26.1%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$347B
AUM Growth
+$66.7B
Cap. Flow
+$5.55B
Cap. Flow %
1.6%
Top 10 Hldgs %
22.34%
Holding
2,120
New
74
Increased
993
Reduced
738
Closed
44

Top Buys

Rank Stock Value
1
WMT icon
Walmart Inc
WMT
+$864M
2
TMUS icon
T-Mobile US
TMUS
+$580M
3
META icon
Meta Platforms (Facebook)
META
+$367M
4
ABBV icon
AbbVie
ABBV
+$348M
5
BLK icon
Blackrock
BLK
+$335M

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$692M
2
RTN
Raytheon Company
RTN
+$368M
3
BMY icon
Bristol-Myers Squibb
BMY
+$279M
4
V icon
Visa
V
+$237M
5
INTC icon
Intel
INTC
+$187M

Sector Composition

Rank Sector Weight
1 Technology 22.84%
2 Healthcare 13.58%
3 Financials 13.55%
4 Consumer Discretionary 13.35%
5 Communication Services 10.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSGP icon
226
CoStar Group
CSGP
$11.7B
$278M 0.08%
3,917,300
+691,070
+21% +$44.7M
SLB icon
227
SLB Ltd
SLB
$73.6B
$277M 0.08%
15,049,211
+2,022,880
+16% +$35.4M
PPG icon
228
PPG Industries
PPG
$24.6B
$276M 0.08%
2,603,159
+2,293,695
+741% +$221M
CLX icon
229
Clorox
CLX
$11.6B
$274M 0.08%
1,248,303
-13,108
-1% -$2.62M
VLO icon
230
Valero Energy
VLO
$90.1B
$272M 0.08%
4,622,711
+275,238
+6% +$16.4M
COP icon
231
ConocoPhillips
COP
$147B
$271M 0.08%
6,439,359
-2,637,986
-29% -$107M
NUE icon
232
Nucor
NUE
$58.6B
$270M 0.08%
6,525,792
+1,640,205
+34% +$66.3M
INFO
233
DELISTED
IHS Markit Ltd. Common Shares
INFO
$269M 0.08%
3,558,433
+243,181
+7% +$16.6M
MRSH
234
Marsh
MRSH
$90.5B
$267M 0.08%
2,488,414
-694,294
-22% -$70.3M
A icon
235
Agilent Technologies
A
$39.1B
$267M 0.08%
3,019,705
-13,131
-0.4% -$1.08M
TROW icon
236
T. Rowe Price
TROW
$23.9B
$262M 0.08%
2,120,227
-242,859
-10% -$27.7M
MSCI icon
237
MSCI
MSCI
$41.6B
$262M 0.08%
784,039
-29,135
-4% -$9.42M
MPC icon
238
Marathon Petroleum
MPC
$92.4B
$262M 0.08%
6,998,350
+424,204
+6% +$13.6M
PRU icon
239
Prudential Financial
PRU
$42.4B
$261M 0.08%
4,290,282
-215,357
-5% -$12.6M
XLNX
240
DELISTED
Xilinx Inc
XLNX
$260M 0.08%
2,646,075
+100,235
+4% +$8.89M
EDU icon
241
New Oriental
EDU
$9.37B
$260M 0.07%
1,994,031
+91,653
+5% +$11.2M
MSI icon
242
Motorola Solutions
MSI
$72.3B
$259M 0.07%
1,846,042
+214,825
+13% +$30.4M
COF icon
243
Capital One
COF
$128B
$257M 0.07%
4,103,807
-484,619
-11% -$30.2M
LOGI icon
244
Logitech
LOGI
$14.7B
$257M 0.07%
3,931,014
+35,605
+0.9% +$1.9M
FAST icon
245
Fastenal
FAST
$54.7B
$256M 0.07%
11,951,968
+327,546
+3% +$6.26M
DXCM icon
246
DexCom
DXCM
$31.5B
$255M 0.07%
2,512,912
-876,960
-26% -$78.4M
MNST icon
247
Monster Beverage
MNST
$94.3B
$253M 0.07%
7,291,830
-218,826
-3% -$7.14M
CDNS icon
248
Cadence Design Systems
CDNS
$93.6B
$252M 0.07%
2,626,718
+69,151
+3% +$5.79M
FNV icon
249
Franco-Nevada
FNV
$41.1B
$251M 0.07%
1,320,977
-737,525
-36% -$98M
HPQ icon
250
HP
HPQ
$24.9B
$250M 0.07%
14,354,808
+1,591,873
+12% +$25.3M
8 9
10
11 12

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Norges Bank's Q2 2020 Portfolio in Review

As of Q2 2020, Norges Bank held 2,120 positions worth $347B, up 24% from $281B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Norges Bank's Q2 2020 filing shows 74 new, 993 increased, 738 reduced and 44 closed positions. Its largest new stake was Nikola Corporation Common Stock: 333,333 shares worth $675M. The largest sale was Allergan plc, an estimated $692M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 21% a quarter earlier, followed by Healthcare and Financials.

  • Norges Bank's largest Q2 2020 buy was Nikola Corporation Common Stock: 333,333 shares worth $675M.
  • Norges Bank added most to Walmart Inc in Q2 2020, an estimated $864M increase.
  • Norges Bank's biggest Q2 2020 reduction was Bristol-Myers Squibb, cutting an estimated $279M.
  • Norges Bank fully exited Allergan plc in Q2 2020, selling an estimated $692M.
  • Norges Bank's ten largest holdings make up 22% of its $347B portfolio in Q2 2020.
  • Norges Bank opened 74 new positions and closed 44 in Q2 2020.
  • Norges Bank's portfolio value rose 24% quarter-over-quarter to $347B.

Based on Norges Bank's 13F filing for Q2 2020, filed 7 Aug 2020.