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 | |
|---|---|---|---|---|---|---|
1201
OSI Systems
OSIS
$3.88B
| $21.4M | 0.01% |
311,236
| – | – |
|
1202
Itron
ITRI
$4.51B
| $21.4M | 0.01% |
382,556
-10,349
| -3% | -$787K |
|
1203
Workiva
WK
$3.48B
| $21.3M | 0.01% |
659,071
| – | – |
|
1204
Devon Energy
DVN
$47.6B
| $21.3M | 0.01% |
3,081,655
-1,789,643
| -37% | -$32.3M |
|
|
SCS
1205
DELISTED
Steelcase
SCS
| $21.3M | 0.01% |
2,157,205
-120,653
| -5% | -$1.99M |
|
1206
Cathay General Bancorp
CATY
$4.24B
| $21.3M | 0.01% |
926,827
+47,148
| +5% | +$1.51M |
|
1207
Bankunited
BKU
$3.38B
| $21.3M | 0.01% |
1,137,279
-30,391
| -3% | -$908K |
|
|
FIT
1208
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $21.2M | 0.01% |
3,185,342
+724,299
| +29% | +$4.68M |
|
1209
Tower Semiconductor
TSEM
$28.2B
| $21.2M | 0.01% |
1,322,909
| – | – |
|
1210
Under Armour
UAA
$2.66B
| $21.2M | 0.01% |
2,302,245
| – | – |
|
1211
Insight Enterprises
NSIT
$4.58B
| $21.2M | 0.01% |
502,403
-4,380
| -0.9% | -$253K |
|
|
EFOR
1212
Everforth Inc
EFOR
$1.33B
| $21M | 0.01% |
595,212
| – | – |
|
1213
Pinnacle Financial Partners Inc
PNFP
$16.1B
| $21M | 0.01% |
558,127
+46,871
| +9% | +$2.54M |
|
1214
Simply Good Foods
SMPL
$974M
| $20.9M | 0.01% |
1,086,271
-60,325
| -5% | -$1.32M |
|
1215
Boise Cascade
BCC
$3B
| $20.9M | 0.01% |
877,938
| – | – |
|
1216
GATX Corp
GATX
$6.26B
| $20.8M | 0.01% |
333,157
+3,540
| +1% | +$258K |
|
|
EPZM
1217
DELISTED
Epizyme, Inc
EPZM
| $20.8M | 0.01% |
1,342,904
+457,287
| +52% | +$9.82M |
|
|
ESGR
1218
DELISTED
Enstar Group
ESGR
| $20.8M | 0.01% |
130,579
| – | – |
|
|
WRI
1219
DELISTED
Weingarten Realty Investors
WRI
| $20.7M | 0.01% |
1,437,176
+29,435
| +2% | +$777K |
|
1220
Nelnet
NNI
$4.68B
| $20.7M | 0.01% |
454,881
| – | – |
|
1221
Floor & Decor
FND
$6.57B
| $20.6M | 0.01% |
642,860
-19,124
| -3% | -$893K |
|
|
GWB
1222
DELISTED
Great Western Bancorp, Inc.
GWB
| $20.6M | 0.01% |
1,005,034
-227,923
| -18% | -$6.43M |
|
1223
Huron Consulting
HURN
$2.43B
| $20.6M | 0.01% |
453,548
-17,800
| -4% | -$1.07M |
|
1224
Casella Waste Systems
CWST
$5.57B
| $20.5M | 0.01% |
525,748
+175,729
| +50% | +$8.52M |
|
1225
InterDigital
IDCC
$8.84B
| $20.5M | 0.01% |
459,817
+19,179
| +4% | +$1.01M |
|
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.