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 | |
|---|---|---|---|---|---|---|
401
Oneok
OKE
$55.4B
| $110M | 0.04% |
5,049,760
+1,432,482
| +40% | +$87.3M |
|
402
Fox Class B
FOX
$23.2B
| $110M | 0.04% |
4,812,851
-59,489
| -1% | -$1.92M |
|
|
SGEN
403
DELISTED
Seagen Inc. Common Stock
SGEN
| $110M | 0.04% |
953,803
+49,720
| +5% | +$5.51M |
|
404
Gen Digital
GEN
$16.8B
| $110M | 0.04% |
5,860,682
-208,885
| -3% | -$4.52M |
|
405
Jack Henry & Associates
JKHY
$11.2B
| $109M | 0.04% |
703,993
| – | – |
|
406
BHP
BHP
$223B
| $109M | 0.04% |
3,331,296
+2,698,247
| +426% | +$113M |
|
407
Teradyne
TER
$60.2B
| $108M | 0.04% |
2,002,624
-52,798
| -3% | -$3.35M |
|
408
Omnicom Group
OMC
$22.6B
| $108M | 0.04% |
1,964,808
| – | – |
|
409
Alnylam Pharmaceuticals
ALNY
$28.9B
| $108M | 0.04% |
987,765
-15,448
| -2% | -$1.78M |
|
410
Martin Marietta Materials
MLM
$32.3B
| $107M | 0.04% |
563,604
+989
| +0.2% | +$236K |
|
411
Burlington
BURL
$23.4B
| $106M | 0.04% |
671,407
+4,401
| +0.7% | +$927K |
|
412
Keurig Dr Pepper
KDP
$41.3B
| $106M | 0.04% |
4,361,689
+213,580
| +5% | +$5.76M |
|
413
UDR
UDR
$12.3B
| $106M | 0.04% |
2,895,714
| – | – |
|
|
AMTD
414
DELISTED
TD Ameritrade Holding Corp
AMTD
| $105M | 0.04% |
3,040,441
+52,874
| +2% | +$2.3M |
|
415
Ventas
VTR
$47.3B
| $105M | 0.04% |
3,924,097
| – | – |
|
416
Markel Group
MKL
$23.2B
| $105M | 0.04% |
113,304
+4,532
| +4% | +$5.18M |
|
417
Ulta Beauty
ULTA
$23.2B
| $105M | 0.04% |
598,088
+34,200
| +6% | +$8.53M |
|
418
Hewlett Packard
HPE
$69.4B
| $105M | 0.04% |
10,785,718
| – | – |
|
419
Broadridge
BR
$18.8B
| $104M | 0.04% |
1,100,429
| – | – |
|
420
Cheniere Energy
LNG
$54.9B
| $104M | 0.04% |
3,108,320
+1,276,945
| +70% | +$65.4M |
|
|
CCMP
421
DELISTED
CMC Materials, Inc. Common Stock
CCMP
| $103M | 0.04% |
906,520
+255,854
| +39% | +$35.7M |
|
|
HOLX
422
DELISTED
Hologic
HOLX
| $103M | 0.04% |
2,940,163
| – | – |
|
|
DFS
423
DELISTED
Discover Financial Services
DFS
| $103M | 0.04% |
2,876,262
+35,298
| +1% | +$2.34M |
|
424
Tractor Supply
TSCO
$17.9B
| $102M | 0.04% |
6,059,990
| – | – |
|
425
Teladoc Health
TDOC
$1.21B
| $102M | 0.04% |
659,303
+50,087
| +8% | +$5.83M |
|
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.