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 | |
|---|---|---|---|---|---|---|
601
Pultegroup
PHM
$25.3B
| $62.4M | 0.02% |
2,796,963
-58,488
| -2% | -$2.26M |
|
602
Fortune Brands Innovations
FBIN
$6.11B
| $62.3M | 0.02% |
1,686,285
| – | – |
|
|
HZNP
603
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $62.3M | 0.02% |
2,104,185
+5,994
| +0.3% | +$203K |
|
604
Pool Corp
POOL
$7.56B
| $62.3M | 0.02% |
316,458
+1,288
| +0.4% | +$274K |
|
605
FIVE9
FIVN
$2.56B
| $62.3M | 0.02% |
814,219
+341,322
| +72% | +$24.3M |
|
606
Raymond James Financial
RJF
$34.2B
| $62.1M | 0.02% |
1,472,879
+106,349
| +8% | +$6M |
|
|
BBL
607
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
| $61.9M | 0.02% |
+2,039,000
| New | +$80.3M |
|
608
SEI Investments
SEIC
$12.5B
| $61.8M | 0.02% |
1,332,853
| – | – |
|
609
Live Nation Entertainment
LYV
$42.6B
| $61.7M | 0.02% |
1,356,348
| – | – |
|
|
GRA
610
DELISTED
W.R. Grace & Co.
GRA
| $61.6M | 0.02% |
1,730,606
+961,319
| +125% | +$54.9M |
|
611
Whirlpool
WHR
$2.87B
| $61.3M | 0.02% |
715,010
+55,756
| +8% | +$7.32M |
|
|
WBC
612
DELISTED
WABCO HOLDINGS INC.
WBC
| $61.3M | 0.02% |
454,226
| – | – |
|
613
American Financial Group
AFG
$12.1B
| $61.1M | 0.02% |
872,037
+12,999
| +2% | +$1.25M |
|
614
HubSpot
HUBS
$10.5B
| $61M | 0.02% |
457,877
-10,549
| -2% | -$1.75M |
|
615
Service Corp International
SCI
$11.6B
| $60.9M | 0.02% |
1,556,534
| – | – |
|
|
GRFS
616
Grifois
GRFS
$5.47B
| $60.7M | 0.02% |
3,014,693
| – | – |
|
617
Kemper
KMPR
$1.71B
| $60.4M | 0.02% |
811,993
| – | – |
|
618
NiSource
NI
$20.6B
| $60.4M | 0.02% |
2,417,216
-256,454
| -10% | -$7.09M |
|
|
CONE
619
DELISTED
CyrusOne Inc Common Stock
CONE
| $60.2M | 0.02% |
974,756
+35,804
| +4% | +$2.19M |
|
620
Dynatrace
DT
$14.3B
| $60.1M | 0.02% |
2,521,468
+1,582,724
| +169% | +$45.6M |
|
621
Royal Caribbean
RCL
$85.7B
| $60M | 0.02% |
1,866,111
+42,372
| +2% | +$3.87M |
|
|
GFLU
622
DELISTED
GFL Environmental Inc. Tangible Equity Units
GFLU
| $59.5M | 0.02% |
+1,300,000
| New | +$58.4M |
|
623
Neogen
NEOG
$2.48B
| $59.4M | 0.02% |
1,772,400
-97,246
| -5% | -$3.19M |
|
|
MNTA
624
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $59.3M | 0.02% |
2,179,071
-33,094
| -1% | -$921K |
|
625
First American
FAF
$7.64B
| $59.2M | 0.02% |
1,394,744
| – | – |
|
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.