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 | |
|---|---|---|---|---|---|---|
776
Cogent Communications
CCOI
$497M
| $43M | 0.02% |
525,051
| – | – |
|
777
Quanta Services
PWR
$101B
| $43M | 0.02% |
1,356,012
-86,538
| -6% | -$3.22M |
|
778
Globus Medical
GMED
$11.2B
| $42.8M | 0.02% |
1,005,920
-7,015
| -0.7% | -$347K |
|
779
Clarivate
CLVT
$1.16B
| $42.8M | 0.02% |
+2,060,958
| New | +$41.3M |
|
780
Stepan Co
SCL
$1.48B
| $42.5M | 0.02% |
480,960
-8,173
| -2% | -$780K |
|
781
Landstar System
LSTR
$6.21B
| $42.5M | 0.02% |
443,767
| – | – |
|
|
PINC
782
DELISTED
Premier
PINC
| $42.5M | 0.02% |
1,299,294
+81,964
| +7% | +$2.67M |
|
|
FLIR
783
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $42.5M | 0.02% |
1,331,718
| – | – |
|
|
DAY
784
DELISTED
Dayforce
DAY
| $42.5M | 0.02% |
847,953
+329,000
| +63% | +$21.8M |
|
785
STAG Industrial
STAG
$7.19B
| $42.3M | 0.02% |
1,879,465
+100,000
| +6% | +$2.91M |
|
786
Emcor
EME
$36B
| $42.1M | 0.02% |
685,907
-17,144
| -2% | -$1.32M |
|
787
Lamar Advertising Co
LAMR
$16.3B
| $42M | 0.01% |
818,069
+47,311
| +6% | +$3.81M |
|
|
NUAN
788
DELISTED
Nuance Communications, Inc.
NUAN
| $41.9M | 0.01% |
2,498,947
| – | – |
|
789
Donaldson
DCI
$11.4B
| $41.9M | 0.01% |
1,085,380
+25,265
| +2% | +$1.24M |
|
790
Knight Transportation
KNX
$11.4B
| $41.9M | 0.01% |
1,277,279
+208,403
| +19% | +$7.37M |
|
|
ATH
791
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $41.4M | 0.01% |
1,669,805
+82,785
| +5% | +$3.3M |
|
792
Ziff Davis
ZD
$1.98B
| $41.3M | 0.01% |
634,191
| – | – |
|
793
US Foods
USFD
$24B
| $41.2M | 0.01% |
2,326,922
| – | – |
|
794
Sensient Technologies
SXT
$5.53B
| $41M | 0.01% |
942,414
+485,933
| +106% | +$26.8M |
|
|
EQC
795
DELISTED
Equity Commonwealth
EQC
| $41M | 0.01% |
1,293,043
| – | – |
|
796
Owens Corning
OC
$12.4B
| $40.9M | 0.01% |
1,054,803
| – | – |
|
|
QTS
797
DELISTED
QTS REALTY TRUST, INC.
QTS
| $40.9M | 0.01% |
705,016
+14,898
| +2% | +$832K |
|
798
Deutsche Bank
DB
$71.5B
| $40.9M | 0.01% |
6,202,391
-3,593,899
| -37% | -$29.9M |
|
799
NorthWestern Energy
NWE
$4.43B
| $40.8M | 0.01% |
682,420
+17,103
| +3% | +$1.22M |
|
|
CBPO
800
DELISTED
China Biologic Products Holdings, Inc.
CBPO
| $40.7M | 0.01% |
377,401
-25,862
| -6% | -$2.97M |
|
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.