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 |
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
|
+$575M |
| 2 |
Walmart Inc
WMT
|
+$466M |
| 3 |
Tesla
TSLA
|
+$437M |
| 4 |
Amazon
AMZN
|
+$397M |
| 5 |
Regency Centers
REG
|
+$345M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.09B |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$506M |
| 3 |
Linde
LIN
|
+$317M |
| 4 |
Suncor Energy
SU
|
+$289M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
351
Open Text
OTEX
$6.21B
| $131M | 0.05% |
2,670,987
+315,293
| +13% | +$13.4M |
|
352
BioMarin Pharmaceuticals
BMRN
$11.9B
| $131M | 0.05% |
1,553,298
-199,543
| -11% | -$17.2M |
|
353
Celanese
CE
$4.82B
| $131M | 0.05% |
1,780,200
+791,146
| +80% | +$78.3M |
|
|
KSU
354
DELISTED
Kansas City Southern
KSU
| $130M | 0.05% |
1,020,491
-21,743
| -2% | -$3.32M |
|
355
Equifax
EFX
$20.7B
| $129M | 0.05% |
1,081,493
-16,000
| -1% | -$2.33M |
|
356
Agnico Eagle Mines
AEM
$85B
| $129M | 0.05% |
2,300,722
+69,242
| +3% | +$3.65M |
|
357
Steris
STE
$22.6B
| $128M | 0.05% |
915,321
+15,247
| +2% | +$2.28M |
|
358
Teleflex
TFX
$6.15B
| $128M | 0.05% |
437,094
+14,092
| +3% | +$4.92M |
|
359
Entergy
ETR
$49.7B
| $127M | 0.05% |
2,697,470
-145,068
| -5% | -$8.6M |
|
360
International Paper
IP
$21.5B
| $126M | 0.05% |
4,291,001
| – | – |
|
361
Check Point Software Technologies
CHKP
$12.8B
| $126M | 0.05% |
1,257,772
| – | – |
|
362
McCormick & Company Non-Voting
MKC
$14.1B
| $126M | 0.04% |
1,783,228
-204,422
| -10% | -$15.9M |
|
363
Western Digital
WDC
$156B
| $125M | 0.04% |
3,973,771
-41,817
| -1% | -$1.85M |
|
364
W.W. Grainger
GWW
$60.4B
| $125M | 0.04% |
502,872
| – | – |
|
365
Leidos
LDOS
$17B
| $125M | 0.04% |
1,361,762
+16,706
| +1% | +$1.69M |
|
366
Liberty Broadband Class A
LBRDA
$5.32B
| $124M | 0.04% |
1,155,721
+495,149
| +75% | +$60.7M |
|
367
J.M. Smucker
SJM
$12.7B
| $123M | 0.04% |
1,107,983
+27,695
| +3% | +$2.96M |
|
368
Qorvo
QRVO
$8.41B
| $123M | 0.04% |
1,524,969
+78,954
| +5% | +$7.9M |
|
369
NetApp
NTAP
$37.6B
| $122M | 0.04% |
2,935,662
-9,501
| -0.3% | -$491K |
|
370
Labcorp
LH
$25.7B
| $122M | 0.04% |
1,126,242
| – | – |
|
371
Healthpeak Properties
DOC
$14.5B
| $122M | 0.04% |
5,121,585
| – | – |
|
372
BCE
BCE
$21.2B
| $122M | 0.04% |
2,975,530
-90,032
| -3% | -$4.04M |
|
373
Arista Networks
ANET
$243B
| $121M | 0.04% |
9,579,824
| – | – |
|
374
Ingersoll Rand
IR
$34.2B
| $121M | 0.04% |
4,870,815
+2,784,805
| +133% | +$88.4M |
|
|
FITB
375
Fifth Third Bancorp
FITB
$51.7B
| $120M | 0.04% |
8,069,380
-32,456
| -0.4% | -$809K |
|
Similar funds
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.