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 | |
|---|---|---|---|---|---|---|
|
CVA
751
DELISTED
Covanta Holding Corporation
CVA
| $44.9M | 0.02% |
5,254,811
+949,991
| +22% | +$12.8M |
|
752
Popular Inc
BPOP
$11.1B
| $44.8M | 0.02% |
1,281,037
-81,599
| -6% | -$4.04M |
|
|
EGOV
753
DELISTED
NIC Inc
EGOV
| $44.8M | 0.02% |
1,948,620
| – | – |
|
754
Kimco Realty
KIM
$16.4B
| $44.8M | 0.02% |
4,631,103
-156,665
| -3% | -$2.69M |
|
|
NLSN
755
DELISTED
Nielsen Holdings plc
NLSN
| $44.8M | 0.02% |
3,570,657
+80,279
| +2% | +$1.5M |
|
|
PCH
756
DELISTED
PotlatchDeltic
PCH
| $44.6M | 0.02% |
1,421,105
-46,619
| -3% | -$1.81M |
|
757
Robert Half
RHI
$4.37B
| $44.5M | 0.02% |
1,178,057
| – | – |
|
758
Brady Corp
BRC
$4.57B
| $44.3M | 0.02% |
981,867
-27,416
| -3% | -$1.4M |
|
759
Douglas Emmett
DEI
$1.96B
| $44.3M | 0.02% |
1,451,733
| – | – |
|
760
SL Green Realty
SLG
$3.99B
| $44.2M | 0.02% |
1,059,605
| – | – |
|
|
AXON
761
Axon Enterprise
AXON
$46.4B
| $44.2M | 0.02% |
624,269
| – | – |
|
762
Maximus
MMS
$3.11B
| $44.1M | 0.02% |
757,611
| – | – |
|
|
TCF
763
DELISTED
TCF Financial Corporation Common Stock
TCF
| $44.1M | 0.02% |
1,944,455
-75,486
| -4% | -$2.83M |
|
764
Zions Bancorporation
ZION
$10.3B
| $44M | 0.02% |
1,645,516
-81,944
| -5% | -$3.37M |
|
765
Ralph Lauren
RL
$23.5B
| $44M | 0.02% |
658,150
-43,920
| -6% | -$4.61M |
|
766
Mine Safety
MSA
$7.49B
| $44M | 0.02% |
434,463
| – | – |
|
767
XPO
XPO
$23.7B
| $43.9M | 0.02% |
2,600,809
-205,352
| -7% | -$5.49M |
|
768
Rayonier
RYN
$6.55B
| $43.8M | 0.02% |
2,051,816
| – | – |
|
769
Teck Resources
TECK
$32.6B
| $43.8M | 0.02% |
5,770,896
-334,567
| -5% | -$4.01M |
|
770
Highwoods Properties
HIW
$3.47B
| $43.6M | 0.02% |
1,229,936
| – | – |
|
771
Nektar Therapeutics
NKTR
$2.58B
| $43.4M | 0.02% |
162,134
| – | – |
|
772
Exponent
EXPO
$3.24B
| $43.3M | 0.02% |
601,909
+19,205
| +3% | +$1.39M |
|
|
HR
773
DELISTED
Healthcare Realty Trust Incorporated
HR
| $43.2M | 0.02% |
1,544,978
| – | – |
|
774
Zillow
Z
$7.56B
| $43.1M | 0.02% |
1,196,822
| – | – |
|
|
CTRA
775
DELISTED
Coterra Energy
CTRA
| $43.1M | 0.02% |
2,505,132
-1,605,065
| -39% | -$25.4M |
|
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.