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 | |
|---|---|---|---|---|---|---|
1001
AerCap
AER
$23.8B
| $29M | 0.01% |
1,272,180
+124,135
| +11% | +$6.13M |
|
1002
Advanced Energy
AEIS
$13B
| $29M | 0.01% |
597,629
-12,666
| -2% | -$804K |
|
1003
Franklin Electric
FELE
$4.84B
| $29M | 0.01% |
614,582
| – | – |
|
|
MANT
1004
DELISTED
Mantech International Corp
MANT
| $28.9M | 0.01% |
398,099
-19,244
| -5% | -$1.5M |
|
1005
Wendy's
WEN
$1.46B
| $28.9M | 0.01% |
1,943,412
| – | – |
|
1006
The Ensign Group
ENSG
$10.7B
| $28.9M | 0.01% |
768,161
+9,428
| +1% | +$414K |
|
1007
PVH
PVH
$4.04B
| $28.8M | 0.01% |
766,436
-58,603
| -7% | -$4.48M |
|
1008
Community Bank
CBU
$3.41B
| $28.8M | 0.01% |
489,252
+17,050
| +4% | +$1.11M |
|
|
GRUB
1009
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $28.8M | 0.01% |
353,151
+33,321
| +10% | +$3.28M |
|
1010
Cullen/Frost Bankers
CFR
$10.2B
| $28.7M | 0.01% |
514,547
-6,264
| -1% | -$511K |
|
|
DISH
1011
DELISTED
DISH Network Corp.
DISH
| $28.7M | 0.01% |
1,434,083
+966,589
| +207% | +$31.3M |
|
|
CZZ
1012
DELISTED
Cosan Limited
CZZ
| $28.6M | 0.01% |
2,329,238
| – | – |
|
1013
EnerSys
ENS
$6.99B
| $28.6M | 0.01% |
578,495
-53,146
| -8% | -$3.47M |
|
|
HBI
1014
DELISTED
Hanesbrands
HBI
| $28.6M | 0.01% |
3,638,368
+23,455
| +0.6% | +$297K |
|
1015
Azenta
AZTA
$1.48B
| $28.6M | 0.01% |
938,730
| – | – |
|
1016
WD-40
WDFC
$3.15B
| $28.6M | 0.01% |
142,548
+19,871
| +16% | +$3.74M |
|
|
AGR
1017
DELISTED
Avangrid, Inc.
AGR
| $28.6M | 0.01% |
653,932
-70,833
| -10% | -$3.56M |
|
|
ENV
1018
DELISTED
ENVESTNET, INC.
ENV
| $28.5M | 0.01% |
530,854
+19,867
| +4% | +$1.42M |
|
1019
Canadian Natural Resources
CNQ
$94.9B
| $28.5M | 0.01% |
4,351,284
-20,443,225
| -82% | -$244M |
|
1020
Elastic
ESTC
$7.81B
| $28.5M | 0.01% |
510,711
+40,741
| +9% | +$2.63M |
|
1021
Zurn Elkay Water Solutions
ZWS
$8.53B
| $28.5M | 0.01% |
2,609,071
+59,591
| +2% | +$869K |
|
|
NVRO
1022
DELISTED
NEVRO CORP.
NVRO
| $28.5M | 0.01% |
284,820
+48,281
| +20% | +$5.81M |
|
1023
Applied Industrial Technologies
AIT
$13.3B
| $28.4M | 0.01% |
621,969
-15,065
| -2% | -$891K |
|
1024
Alamos Gold
AGI
$13.9B
| $28.4M | 0.01% |
4,021,726
+478,648
| +14% | +$2.81M |
|
|
SYNH
1025
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $28.4M | 0.01% |
720,911
-9,787
| -1% | -$572K |
|
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.