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 | |
|---|---|---|---|---|---|---|
1351
BellRing Brands
BRBR
$1.41B
| $17.1M | 0.01% |
1,003,223
| – | – |
|
1352
JetBlue
JBLU
$2.34B
| $17.1M | 0.01% |
1,905,507
-463,438
| -20% | -$7.68M |
|
1353
Northwest Natural Holdings
NWN
$2.14B
| $17M | 0.01% |
275,455
-17,671
| -6% | -$1.24M |
|
1354
Cavco Industries
CVCO
$4.45B
| $17M | 0.01% |
117,181
| – | – |
|
1355
TTEC Holdings
TTEC
$127M
| $17M | 0.01% |
462,083
-9,577
| -2% | -$372K |
|
1356
Urban Outfitters
URBN
$6.65B
| $17M | 0.01% |
1,190,371
-96,149
| -7% | -$2.23M |
|
1357
Credit Acceptance
CACC
$6.03B
| $16.9M | 0.01% |
66,244
-36,413
| -35% | -$14.7M |
|
1358
Sinclair Inc
SBGI
$1.07B
| $16.9M | 0.01% |
1,052,969
-248,394
| -19% | -$6.46M |
|
1359
Macy's
M
$6.61B
| $16.9M | 0.01% |
3,446,423
-61,614
| -2% | -$835K |
|
1360
Schneider National
SNDR
$6.17B
| $16.9M | 0.01% |
873,983
+127,977
| +17% | +$2.65M |
|
1361
IAMGOLD
IAG
$9.27B
| $16.9M | 0.01% |
5,983,924
| – | – |
|
1362
Helmerich & Payne
HP
$3.7B
| $16.8M | 0.01% |
1,073,911
+38,761
| +4% | +$1.37M |
|
1363
Wolverine World Wide
WWW
$1.56B
| $16.8M | 0.01% |
1,105,165
| – | – |
|
|
AAT
1364
American Assets Trust
AAT
$1.38B
| $16.8M | 0.01% |
670,901
-10,511
| -2% | -$425K |
|
1365
Ollie's Bargain Outlet
OLLI
$4.71B
| $16.7M | 0.01% |
361,115
| – | – |
|
1366
Kulicke & Soffa
KLIC
$4.74B
| $16.7M | 0.01% |
800,564
+44,066
| +6% | +$1.08M |
|
1367
Hilltop Holdings
HTH
$2.25B
| $16.7M | 0.01% |
1,102,012
-28,623
| -3% | -$606K |
|
1368
Cal-Maine
CALM
$3.98B
| $16.6M | 0.01% |
378,203
-26,897
| -7% | -$1.02M |
|
1369
Global Net Lease
GNL
$1.91B
| $16.6M | 0.01% |
1,243,724
+33,110
| +3% | +$617K |
|
|
CWEN.A
1370
DELISTED
Clearway Energy Class A
CWEN.A
| $16.6M | 0.01% |
967,634
-195,465
| -17% | -$3.89M |
|
1371
Denali Therapeutics
DNLI
$3.92B
| $16.6M | 0.01% |
948,538
+325,000
| +52% | +$6.78M |
|
1372
First Bancorp
FBP
$4.44B
| $16.6M | 0.01% |
3,121,782
-53,799
| -2% | -$442K |
|
1373
Artisan Partners
APAM
$3.06B
| $16.6M | 0.01% |
772,329
| – | – |
|
1374
Fox Factory Holding Corp
FOXF
$791M
| $16.6M | 0.01% |
394,872
+40,736
| +12% | +$2.57M |
|
|
LTC
1375
LTC Properties
LTC
$2.13B
| $16.6M | 0.01% |
536,442
| – | – |
|
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.