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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
STLD icon
526
Steel Dynamics
STLD
$37B
$93.3M 0.03%
3,574,208
-17,204
-0.5% -$430K
LYB icon
527
LyondellBasell Industries
LYB
$19.6B
$93M 0.03%
1,414,376
-880,813
-38% -$52.4M
RCL icon
528
Royal Caribbean
RCL
$86.7B
$92.9M 0.03%
1,846,557
-19,554
-1% -$885K
NLY icon
529
Annaly Capital Management
NLY
$17.2B
$92.8M 0.03%
3,535,665
-69,746
-2% -$1.72M
NCLH icon
530
Norwegian Cruise Line
NCLH
$9.07B
$92.7M 0.03%
5,644,705
+3,481,790
+161% +$51M
GGG icon
531
Graco
GGG
$13B
$92.3M 0.03%
1,924,360
+64,322
+3% +$3.03M
ICLR icon
532
Icon
ICLR
$12.2B
$92.3M 0.03%
548,143
-40,639
-7% -$6.4M
ENTG icon
533
Entegris
ENTG
$19.1B
$92.2M 0.03%
1,561,804
-80,717
-5% -$4.48M
GFL icon
534
GFL Environmental
GFL
$15.2B
$92.1M 0.03%
4,908,157
-73,489
-1% -$1.26M
FWONK icon
535
Liberty Media Series C
FWONK
$24.5B
$92.1M 0.03%
3,004,160
-287,323
-9% -$8.53M
AVY icon
536
Avery Dennison
AVY
$13.2B
$91.8M 0.03%
805,022
-12,823
-2% -$1.41M
NBIX icon
537
Neurocrine Biosciences
NBIX
$16.7B
$91.8M 0.03%
752,551
-38,284
-5% -$4.23M
LSXMK
538
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$91M 0.03%
3,409,636
+233,598
+7% +$6.01M
FBIN icon
539
Fortune Brands Innovations
FBIN
$6.22B
$90.8M 0.03%
1,662,172
-24,113
-1% -$1.12M
BBL
540
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
$90.5M 0.03%
2,199,000
+160,000
+8% +$5.82M
DELL icon
541
Dell
DELL
$277B
$90.5M 0.03%
3,249,351
+35,973
+1% +$808K
EG icon
542
Everest Group
EG
$14.4B
$90.3M 0.03%
438,139
+16,649
+4% +$3.24M
BPMC
543
DELISTED
Blueprint Medicines
BPMC
$90.2M 0.03%
1,156,671
-413,141
-26% -$27.9M
CPB icon
544
Campbell Soup
CPB
$6.67B
$90.1M 0.03%
1,816,039
-32,138
-2% -$1.6M
SRPT icon
545
Sarepta Therapeutics
SRPT
$1.68B
$90.1M 0.03%
561,630
-14,493
-3% -$1.97M
HSIC icon
546
Henry Schein
HSIC
$9.85B
$90M 0.03%
1,541,199
-153,026
-9% -$8.55M
IT icon
547
Gartner
IT
$10.1B
$90M 0.03%
741,475
+36,333
+5% +$4.2M
FSLR icon
548
First Solar
FSLR
$25B
$89.8M 0.03%
1,813,940
+23,676
+1% +$1.06M
WHR icon
549
Whirlpool
WHR
$2.54B
$89M 0.03%
687,074
-27,936
-4% -$3.2M
PINS icon
550
Pinterest
PINS
$13.5B
$88.2M 0.03%
3,978,373
+2,421,387
+156% +$47.3M
20 21
22
23 24

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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.