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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
UTHR icon
701
United Therapeutics
UTHR
$23.1B
$50M 0.02%
527,800
– –
POST icon
702
Post Holdings
POST
$3.57B
$49.7M 0.02%
915,322
+51,563
+6% +$3.35M
IPG
703
DELISTED
Interpublic Group of Companies
IPG
$49.5M 0.02%
3,057,083
-875,445
-22% -$18.5M
XLRN
704
DELISTED
Acceleron Pharma
XLRN
$49.4M 0.02%
550,228
– –
CUZ icon
705
Cousins Properties
CUZ
$4.88B
$49.4M 0.02%
1,686,849
– –
LPLA icon
706
LPL Financial
LPLA
$28.6B
$49.3M 0.02%
906,492
-72,552
-7% -$5.85M
ITT icon
707
ITT
ITT
$19.1B
$49.2M 0.02%
1,085,737
+23,402
+2% +$1.45M
ARMK icon
708
Aramark
ARMK
$14.7B
$49.2M 0.02%
3,411,158
-72,402
-2% -$1.91M
PAAS icon
709
Pan American Silver
PAAS
$21.6B
$49.1M 0.02%
2,424,190
+109,034
+5% +$2.26M
BFAM icon
710
Bright Horizons
BFAM
$3.86B
$49M 0.02%
480,316
+11,847
+3% +$1.74M
PTC icon
711
PTC
PTC
$16B
$48.9M 0.02%
798,109
-47,546
-6% -$3.52M
IPGP icon
712
IPG Photonics
IPGP
$3.84B
$48.8M 0.02%
442,339
-35,610
-7% -$4.66M
OPTU
713
Optimum Communications Inc
OPTU
$301M
$48.7M 0.02%
2,183,093
-198,219
-8% -$5.17M
FLO icon
714
Flowers Foods
FLO
$1.57B
$48.6M 0.02%
2,369,694
+175,224
+8% +$3.82M
CMBT
715
CMB.TECH NV
CMBT
$4.73B
$48.3M 0.02%
4,527,876
– –
EGP icon
716
EastGroup Properties
EGP
$10.9B
$48.3M 0.02%
461,815
+16,087
+4% +$2.03M
ADSW
717
DELISTED
Advanced Disposal Services Inc
ADSW
$48.2M 0.02%
1,470,360
-1,540,635
-51% -$50.5M
HELE icon
718
Helen of Troy
HELE
$693M
$48.1M 0.02%
334,090
– –
CDK
719
DELISTED
CDK Global, Inc.
CDK
$48M 0.02%
1,461,132
– –
MDU icon
720
MDU Resources
MDU
$4.3B
$47.9M 0.02%
5,863,694
-731,497
-11% -$7.7M
CF icon
721
CF Industries
CF
$17.3B
$47.8M 0.02%
1,755,756
+240,318
+16% +$8.93M
TREX icon
722
Trex
TREX
$5.01B
$47.7M 0.02%
1,189,210
+26,402
+2% +$1.24M
NUVA
723
DELISTED
NuVasive, Inc.
NUVA
$47.6M 0.02%
940,527
-48,969
-5% -$3.28M
JBL icon
724
Jabil
JBL
$35.8B
$47.5M 0.02%
1,934,036
-97,644
-5% -$3.41M
FCFS icon
725
FirstCash
FCFS
$8.78B
$47.5M 0.02%
662,265
-12,787
-2% -$1.03M
27 28
29
30 31

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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.