Norges Bank Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$864M |
| 2 |
T-Mobile US
TMUS
|
+$580M |
| 3 |
Meta Platforms (Facebook)
META
|
+$367M |
| 4 |
AbbVie
ABBV
|
+$348M |
| 5 |
Blackrock
BLK
|
+$335M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$692M |
| 2 |
RTN
Raytheon Company
RTN
|
+$368M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$279M |
| 4 |
Visa
V
|
+$237M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
176
lululemon athletica
LULU
$13.6B
| $363M | 0.1% |
1,164,494
-39,600
| -3% | -$10.1M |
|
177
Electronic Arts
EA
$52.9B
| $355M | 0.1% |
2,691,477
-139,981
| -5% | -$16.5M |
|
178
L3Harris
LHX
$50.7B
| $353M | 0.1% |
2,082,570
-16,162
| -0.8% | -$3.04M |
|
179
Centene
CNC
$30.1B
| $352M | 0.1% |
5,546,630
-165,958
| -3% | -$10.8M |
|
180
Ferrari
RACE
$69.9B
| $352M | 0.1% |
2,063,636
+184,446
| +10% | +$29.7M |
|
181
Aflac
AFL
$64.8B
| $351M | 0.1% |
9,746,388
+2,352,244
| +32% | +$85M |
|
182
NXP Semiconductors
NXPI
$61.8B
| $350M | 0.1% |
3,072,840
-3,492
| -0.1% | -$349K |
|
183
Lear
LEA
$7.33B
| $350M | 0.1% |
3,209,693
-874,456
| -21% | -$87.1M |
|
|
JBGS
184
JBG SMITH
JBGS
$820M
| $346M | 0.1% |
11,714,255
-1,400,000
| -11% | -$43.4M |
|
185
Cummins
CMI
$87.3B
| $346M | 0.1% |
1,997,403
+266,042
| +15% | +$42.5M |
|
|
WBA
186
DELISTED
Walgreens Boots Alliance
WBA
| $345M | 0.1% |
8,145,117
-24,263
| -0.3% | -$1.03M |
|
187
American International
AIG
$41.8B
| $344M | 0.1% |
11,036,398
+249,279
| +2% | +$7M |
|
188
Roper Technologies
ROP
$38.5B
| $343M | 0.1% |
882,712
-12,604
| -1% | -$4.52M |
|
|
SCHW
189
Charles Schwab
SCHW
$181B
| $342M | 0.1% |
10,133,384
-321,570
| -3% | -$11.5M |
|
190
Cognizant
CTSH
$24.3B
| $339M | 0.1% |
5,972,966
+155,818
| +3% | +$8.37M |
|
191
TAL Education Group
TAL
$6.85B
| $339M | 0.1% |
4,958,295
+477,364
| +11% | +$27.3M |
|
|
PPLI
192
People Inc
PPLI
$3.08B
| $338M | 0.1% |
5,853,177
+1,469,835
| +34% | +$65.3M |
|
193
General Motors
GM
$80B
| $330M | 0.1% |
13,051,841
-1,433,026
| -10% | -$34.9M |
|
194
eBay
EBAY
$50.4B
| $329M | 0.09% |
6,263,463
-1,665,465
| -21% | -$70.4M |
|
195
Workday
WDAY
$39B
| $327M | 0.09% |
1,742,780
+238,305
| +16% | +$38.5M |
|
196
Pinduoduo
PDD
$124B
| $325M | 0.09% |
3,782,862
+1,951,099
| +107% | +$117M |
|
197
Public Storage
PSA
$59.3B
| $324M | 0.09% |
1,687,505
+129,779
| +8% | +$25M |
|
|
UN
198
DELISTED
Unilever NV New York Registry Shares
UN
| $323M | 0.09% |
6,057,817
+1,217,476
| +25% | +$61.9M |
|
199
Ross Stores
ROST
$81B
| $318M | 0.09% |
3,729,117
+70,446
| +2% | +$6.38M |
|
200
O'Reilly Automotive
ORLY
$72.4B
| $317M | 0.09% |
11,281,620
-86,700
| -0.8% | -$2.27M |
|
Similar funds
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.