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 | |
|---|---|---|---|---|---|---|
1301
Enpro
NPO
$7.12B
| $18.4M | 0.01% |
465,135
-11,858
| -2% | -$654K |
|
1302
Hyatt Hotels
H
$16.9B
| $18.4M | 0.01% |
383,437
-135,185
| -26% | -$10.2M |
|
1303
Kaiser Aluminum
KALU
$2.8B
| $18.4M | 0.01% |
265,111
| – | – |
|
|
NGHC
1304
DELISTED
National General Holdings Corp
NGHC
| $18.4M | 0.01% |
1,108,757
-43,196
| -4% | -$865K |
|
1305
Liberty Media Series A
FWONA
$22.9B
| $18.3M | 0.01% |
742,250
| – | – |
|
1306
CBIZ
CBZ
$2.96B
| $18.3M | 0.01% |
875,989
-39,651
| -4% | -$1.01M |
|
1307
Strategy Inc
MSTR
$37.2B
| $18.3M | 0.01% |
1,550,580
| – | – |
|
1308
ESCO Technologies
ESE
$8.5B
| $18.2M | 0.01% |
240,248
| – | – |
|
|
EPAY
1309
DELISTED
Bottomline Technologies Inc
EPAY
| $18.2M | 0.01% |
496,511
| – | – |
|
1310
Builders FirstSource
BLDR
$7.8B
| $18.2M | 0.01% |
1,485,828
-13,586
| -0.9% | -$307K |
|
1311
Pacira BioSciences
PCRX
$1.02B
| $18.1M | 0.01% |
541,213
| – | – |
|
1312
Axsome Therapeutics
AXSM
$10.8B
| $18.1M | 0.01% |
+308,392
| New | +$25.1M |
|
1313
Mueller Industries
MLI
$15.4B
| $18.1M | 0.01% |
3,029,368
+62,540
| +2% | +$449K |
|
|
CCXI
1314
DELISTED
ChemoCentryx, Inc.
CCXI
| $18.1M | 0.01% |
+451,161
| New | +$19.2M |
|
1315
First Financial Bancorp
FFBC
$3.55B
| $18.1M | 0.01% |
1,212,329
| – | – |
|
|
ANAT
1316
DELISTED
American National Group, Inc. Common Stock
ANAT
| $18M | 0.01% |
218,820
-17,251
| -7% | -$1.74M |
|
1317
Chemours
CC
$2.27B
| $18M | 0.01% |
2,029,877
-1,614,735
| -44% | -$23.3M |
|
1318
Methode Electronics
MEI
$585M
| $18M | 0.01% |
680,838
-56,216
| -8% | -$1.83M |
|
1319
Quaker Houghton
KWR
$2.88B
| $17.9M | 0.01% |
142,072
| – | – |
|
1320
uniQure
QURE
$3.15B
| $17.9M | 0.01% |
378,092
| – | – |
|
1321
Walker & Dunlop
WD
$1.52B
| $17.9M | 0.01% |
444,081
| – | – |
|
1322
American Airlines Group
AAL
$10.6B
| $17.8M | 0.01% |
1,461,307
-513,461
| -26% | -$11.7M |
|
1323
Paylocity
PCTY
$8.04B
| $17.8M | 0.01% |
201,532
| – | – |
|
|
UHT
1324
Universal Health Realty Income Trust
UHT
$585M
| $17.8M | 0.01% |
176,095
| – | – |
|
|
HI
1325
DELISTED
Hillenbrand
HI
| $17.7M | 0.01% |
928,596
| – | – |
|
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.