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 | |
|---|---|---|---|---|---|---|
1076
SLM Corp
SLM
$5.15B
| $26M | 0.01% |
3,609,270
+913,124
| +34% | +$8.82M |
|
1077
Tradeweb Markets
TW
$21.6B
| $25.9M | 0.01% |
616,569
-293,832
| -32% | -$13.5M |
|
1078
PPG Industries
PPG
$26.6B
| $25.9M | 0.01% |
309,464
-30,000
| -9% | -$3.33M |
|
1079
Valvoline
VVV
$4.51B
| $25.8M | 0.01% |
1,972,622
+56,252
| +3% | +$1.08M |
|
1080
Saia
SAIA
$9.72B
| $25.8M | 0.01% |
350,856
+31,480
| +10% | +$2.76M |
|
|
LMNX
1081
DELISTED
Luminex Corp
LMNX
| $25.8M | 0.01% |
937,024
| – | – |
|
1082
Telephone and Data Systems
TDS
$3.75B
| $25.8M | 0.01% |
1,537,780
| – | – |
|
1083
Middleby
MIDD
$6.08B
| $25.8M | 0.01% |
453,037
| – | – |
|
1084
NOV
NOV
$7B
| $25.8M | 0.01% |
2,621,125
-188,808
| -7% | -$3.56M |
|
1085
Bank of Hawaii
BOH
$3.13B
| $25.6M | 0.01% |
463,966
+14,995
| +3% | +$1.2M |
|
|
AY
1086
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $25.6M | 0.01% |
1,145,909
-64,225
| -5% | -$1.73M |
|
1087
Kinsale Capital Group
KNSL
$8.51B
| $25.5M | 0.01% |
244,414
+18,306
| +8% | +$2.06M |
|
1088
TriNet
TNET
$3.14B
| $25.5M | 0.01% |
676,235
| – | – |
|
1089
Ironwood Pharmaceuticals
IRWD
$711M
| $25.4M | 0.01% |
2,515,848
-61,274
| -2% | -$720K |
|
|
COHR
1090
DELISTED
Coherent Inc
COHR
| $25.4M | 0.01% |
238,317
-4,836
| -2% | -$676K |
|
1091
World Kinect Corp
WKC
$1.86B
| $25.3M | 0.01% |
1,006,654
| – | – |
|
1092
CONMED
CNMD
$1.47B
| $25.3M | 0.01% |
442,487
-22,687
| -5% | -$2.09M |
|
1093
Evertec
EVTC
$1.78B
| $25.3M | 0.01% |
1,114,840
-37,807
| -3% | -$1.16M |
|
1094
Novanta
NOVT
$5.92B
| $25.3M | 0.01% |
316,785
+48,345
| +18% | +$4.32M |
|
1095
RBC Bearings
RBC
$18B
| $25.2M | 0.01% |
223,838
+34,226
| +18% | +$5.3M |
|
1096
Integer Holdings
ITGR
$4.26B
| $25.2M | 0.01% |
400,835
| – | – |
|
1097
Old National Bancorp
ONB
$10.2B
| $25.1M | 0.01% |
1,903,724
| – | – |
|
1098
Enphase Energy
ENPH
$5.53B
| $25M | 0.01% |
773,573
+200,439
| +35% | +$7.55M |
|
|
ELME
1099
Elme Communities
ELME
$144M
| $24.9M | 0.01% |
1,044,078
+18,737
| +2% | +$532K |
|
1100
Polaris
PII
$4.07B
| $24.9M | 0.01% |
517,224
| – | – |
|
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.