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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
KR icon
201
Kroger
KR
$35.7B
$258M 0.09%
8,552,805
+163,325
+2% +$4.79M
KMI icon
202
Kinder Morgan
KMI
$69.9B
$257M 0.09%
18,442,887
-580,961
-3% -$11.1M
SBAC icon
203
SBA Communications
SBAC
$19B
$256M 0.09%
946,872
+1,202
+0.1% +$317K
NXPI icon
204
NXP Semiconductors
NXPI
$56.5B
$255M 0.09%
3,076,332
+61,030
+2% +$7.15M
PH icon
205
Parker-Hannifin
PH
$126B
$255M 0.09%
1,964,401
-311,833
-14% -$56.4M
CM icon
206
Canadian Imperial Bank of Commerce
CM
$109B
$254M 0.09%
8,850,846
+456,558
+5% +$17M
AFL icon
207
Aflac
AFL
$64.5B
$253M 0.09%
7,394,144
+775,265
+12% +$35.4M
HIG icon
208
Hartford Financial Services
HIG
$39.2B
$242M 0.09%
6,871,321
+3,159,423
+85% +$165M
MCK icon
209
McKesson
MCK
$96.8B
$242M 0.09%
1,787,522
-184,912
-9% -$27.1M
APTV icon
210
Aptiv
APTV
$12.1B
$240M 0.09%
4,883,176
+262,649
+6% +$20.6M
TAL icon
211
TAL Education Group
TAL
$6.7B
$239M 0.09%
4,480,931
+198,998
+5% +$10.7M
KLAC icon
212
KLA
KLAC
$239B
$239M 0.09%
16,598,200
-200,000
-1% -$3.22M
EBAY icon
213
eBay
EBAY
$47.6B
$238M 0.08%
7,928,928
-1,044,525
-12% -$36.4M
PSX icon
214
Phillips 66
PSX
$82.7B
$238M 0.08%
4,438,865
-107,021
-2% -$8.71M
FDX icon
215
FedEx
FDX
$73.2B
$238M 0.08%
1,960,680
-34,779
-2% -$4.9M
TRI icon
216
Thomson Reuters
TRI
$44.4B
$237M 0.08%
2,355,767
+25,530
+1% +$1.99M
UN
217
DELISTED
Unilever NV New York Registry Shares
UN
$236M 0.08%
+4,840,341
New +$265M
MELI icon
218
Mercado Libre
MELI
$96.3B
$235M 0.08%
481,471
+9,140
+2% +$5.64M
MSCI icon
219
MSCI
MSCI
$41.8B
$235M 0.08%
813,174
-22,392
-3% -$6.34M
PRU icon
220
Prudential Financial
PRU
$42.7B
$235M 0.08%
4,505,639
-1,218,735
-21% -$96.9M
CMI icon
221
Cummins
CMI
$89.5B
$234M 0.08%
1,731,361
+52,000
+3% +$8.11M
XYZ
222
Block Inc
XYZ
$48.9B
$234M 0.08%
4,470,806
+814,241
+22% +$55.7M
COF icon
223
Capital One
COF
$134B
$231M 0.08%
4,588,426
-360,822
-7% -$31.7M
TROW icon
224
T. Rowe Price
TROW
$24.2B
$231M 0.08%
2,363,086
+13,889
+0.6% +$1.7M
SYY icon
225
Sysco
SYY
$40.7B
$230M 0.08%
5,032,239
+298,294
+6% +$20.6M
7 8
9
10 11

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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.