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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
NTRS icon
426
Northern Trust
NTRS
$33.5B
$102M 0.04%
1,353,421
-176,543
-12% -$16.2M
EPAM icon
427
EPAM Systems
EPAM
$4.92B
$102M 0.04%
549,813
+4,219
+0.8% +$911K
LEN icon
428
Lennar Class A
LEN
$21B
$102M 0.04%
2,746,231
+152,330
+6% +$8.62M
NET icon
429
Cloudflare
NET
$113B
$101M 0.04%
4,300,000
+2,702,781
+169% +$52.6M
NBIS
430
Nebius Group N.V.
NBIS
$47.4B
$101M 0.04%
2,952,987
+68,056
+2% +$2.81M
IEX icon
431
IDEX
IEX
$17.3B
$99.9M 0.04%
723,630
– –
ZBRA icon
432
Zebra Technologies
ZBRA
$17.8B
$99.9M 0.04%
543,925
-2,924
-0.5% -$657K
TU icon
433
Telus
TU
$15.6B
$99.2M 0.04%
6,267,275
-1,975,439
-24% -$36.6M
CCEP icon
434
Coca-Cola Europacific Partners
CCEP
$47.7B
$99M 0.04%
2,391,023
+181,100
+8% +$8.8M
XRAY icon
435
Dentsply Sirona
XRAY
$2.44B
$98.9M 0.04%
2,545,743
– –
WAT icon
436
Waters Corp
WAT
$39.3B
$98.7M 0.04%
542,187
-94,098
-15% -$19.8M
AMED
437
DELISTED
Amedisys
AMED
$98.6M 0.04%
537,263
-7,334
-1% -$1.3M
ACGL icon
438
Arch Capital
ACGL
$33.5B
$97.7M 0.03%
3,434,527
+12,443
+0.4% +$504K
TDY icon
439
Teledyne Technologies
TDY
$31.8B
$96.9M 0.03%
326,053
+9,747
+3% +$3.35M
PAYC icon
440
Paycom
PAYC
$10.2B
$96.9M 0.03%
479,553
+18,948
+4% +$5.19M
ELS icon
441
Equity Lifestyle Properties
ELS
$12.6B
$96.7M 0.03%
1,682,588
+60,622
+4% +$4.14M
INVH icon
442
Invitation Homes
INVH
$18.1B
$96.2M 0.03%
4,499,609
+231,242
+5% +$6.55M
KEY icon
443
KeyCorp
KEY
$24.2B
$96.1M 0.03%
9,265,586
+13,793
+0.1% +$230K
HST icon
444
Host Hotels & Resorts
HST
$16.1B
$95.9M 0.03%
8,690,896
-25,309
-0.3% -$382K
MPT
445
Medical Properties Trust
MPT
$2.76B
$95.1M 0.03%
5,498,303
+148,335
+3% +$3.1M
WPC icon
446
W.P. Carey
WPC
$16.3B
$95.1M 0.03%
1,671,030
+68,459
+4% +$5.19M
FMC icon
447
FMC
FMC
$1.33B
$94.7M 0.03%
1,158,958
+239,549
+26% +$22.2M
GPC icon
448
Genuine Parts
GPC
$18.4B
$94.6M 0.03%
1,405,620
+14,795
+1% +$1.32M
PKG icon
449
Packaging Corp of America
PKG
$22.6B
$94M 0.03%
1,082,189
+63,497
+6% +$6.16M
PODD icon
450
Insulet
PODD
$9.56B
$93.8M 0.03%
566,082
-14,303
-2% -$2.61M
16 17
18
19 20

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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.