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 | |
|---|---|---|---|---|---|---|
1026
Gibraltar Industries
ROCK
$1.49B
| $28.4M | 0.01% |
661,461
+9,325
| +1% | +$466K |
|
1027
Xencor
XNCR
$1.55B
| $28.3M | 0.01% |
947,375
-74,753
| -7% | -$2.48M |
|
|
SINA
1028
DELISTED
Sina Corp
SINA
| $28.3M | 0.01% |
888,739
| – | – |
|
|
GRP.U
1029
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $28.2M | 0.01% |
682,541
-22,026
| -3% | -$1.09M |
|
1030
First Citizens BancShares
FCNCA
$25.3B
| $28.2M | 0.01% |
84,585
-2,921
| -3% | -$1.35M |
|
|
STMP
1031
DELISTED
Stamps.com, Inc.
STMP
| $28.1M | 0.01% |
216,251
+27,188
| +14% | +$2.85M |
|
1032
Clean Harbors
CLH
$16.3B
| $28.1M | 0.01% |
547,601
| – | – |
|
1033
Viavi Solutions
VIAV
$9.66B
| $28.1M | 0.01% |
2,503,320
| – | – |
|
1034
National Fuel Gas
NFG
$7.65B
| $28M | 0.01% |
750,372
-74,505
| -9% | -$3.05M |
|
1035
Brink's
BCO
$4.62B
| $28M | 0.01% |
537,497
+3,404
| +0.6% | +$266K |
|
1036
Eagle Materials
EXP
$6.57B
| $27.9M | 0.01% |
477,384
-15,886
| -3% | -$1.27M |
|
1037
Dick's Sporting Goods
DKS
$18.7B
| $27.9M | 0.01% |
1,311,069
-183,931
| -12% | -$7.06M |
|
1038
Kohl's
KSS
$2.19B
| $27.7M | 0.01% |
1,900,932
-21,957
| -1% | -$823K |
|
1039
Safety Insurance
SAFT
$1.52B
| $27.7M | 0.01% |
328,432
| – | – |
|
1040
Comfort Systems
FIX
$59.6B
| $27.7M | 0.01% |
758,019
-36,631
| -5% | -$1.62M |
|
1041
Timken Company
TKR
$9.03B
| $27.7M | 0.01% |
856,258
-30,617
| -3% | -$1.45M |
|
1042
Spire
SR
$4.85B
| $27.7M | 0.01% |
371,248
-14,202
| -4% | -$1.14M |
|
|
TCO
1043
DELISTED
Taubman Centers Inc.
TCO
| $27.6M | 0.01% |
658,520
| – | – |
|
1044
Halozyme
HALO
$12.2B
| $27.5M | 0.01% |
1,528,524
-179,747
| -11% | -$3.41M |
|
|
CLGX
1045
DELISTED
Corelogic, Inc.
CLGX
| $27.5M | 0.01% |
900,267
| – | – |
|
1046
Harley-Davidson
HOG
$2.71B
| $27.3M | 0.01% |
1,443,838
-54,271
| -4% | -$1.64M |
|
1047
Toll Brothers
TOL
$14.5B
| $27.3M | 0.01% |
1,416,487
-177,822
| -11% | -$6.73M |
|
1048
Alarm.com
ALRM
$2.85B
| $27.3M | 0.01% |
700,474
| – | – |
|
1049
Arcosa
ACA
$7.11B
| $27.2M | 0.01% |
685,389
| – | – |
|
1050
AudioCodes
AUDC
$253M
| $27.2M | 0.01% |
414,614
| – | – |
|
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.