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 | |
|---|---|---|---|---|---|---|
|
WBA
151
DELISTED
Walgreens Boots Alliance
WBA
| $374M | 0.13% |
8,169,380
-191,000
| -2% | -$9.69M |
|
152
Norfolk Southern
NSC
$75.6B
| $370M | 0.13% |
2,531,394
-66,627
| -3% | -$12.3M |
|
153
Goldman Sachs
GS
$303B
| $369M | 0.13% |
2,388,822
-246,174
| -9% | -$52.3M |
|
|
RTN
154
DELISTED
Raytheon Company
RTN
| $368M | 0.13% |
2,803,644
-28,022
| -1% | -$5.55M |
|
155
Truist Financial
TFC
$63.4B
| $367M | 0.13% |
11,899,985
-451,001
| -4% | -$21.3M |
|
156
Autodesk
ADSK
$49.6B
| $366M | 0.13% |
2,341,973
-276,506
| -11% | -$50.7M |
|
157
Essex Property Trust
ESS
$18.4B
| $360M | 0.13% |
1,635,914
| – | – |
|
158
Equitable Holdings
EQH
$13.1B
| $356M | 0.13% |
24,658,694
+311,154
| +1% | +$6.8M |
|
159
Sherwin-Williams
SHW
$86B
| $355M | 0.13% |
2,317,461
-27,573
| -1% | -$4.97M |
|
160
Analog Devices
ADI
$176B
| $353M | 0.13% |
3,933,734
+31,887
| +0.8% | +$3.49M |
|
|
SCHW
161
Charles Schwab
SCHW
$184B
| $351M | 0.13% |
10,454,954
-484,515
| -4% | -$20.3M |
|
162
General Dynamics
GD
$103B
| $344M | 0.12% |
2,596,647
+153,416
| +6% | +$25.5M |
|
163
Centene
CNC
$31.5B
| $339M | 0.12% |
5,712,588
+1,594,884
| +39% | +$96.8M |
|
164
Estee Lauder
EL
$30.6B
| $338M | 0.12% |
2,123,867
-22,588
| -1% | -$4.36M |
|
165
Emerson Electric
EMR
$86.7B
| $336M | 0.12% |
7,043,681
+136,757
| +2% | +$9M |
|
166
General Mills
GIS
$19.2B
| $335M | 0.12% |
6,347,462
+237,366
| +4% | +$12.5M |
|
167
Lear
LEA
$6.27B
| $332M | 0.12% |
4,084,149
-1,174,271
| -22% | -$135M |
|
168
Ecolab
ECL
$78.6B
| $331M | 0.12% |
2,123,385
+93,878
| +5% | +$17.6M |
|
169
Moody's
MCO
$83.7B
| $320M | 0.11% |
1,515,148
-20,000
| -1% | -$4.86M |
|
170
Digital Realty Trust
DLR
$70.7B
| $319M | 0.11% |
2,293,185
+469,239
| +26% | +$59.7M |
|
171
Ross Stores
ROST
$81.1B
| $318M | 0.11% |
3,658,671
+49,784
| +1% | +$5.32M |
|
172
MetLife
MET
$62B
| $318M | 0.11% |
10,387,869
+1,008,111
| +11% | +$44.7M |
|
173
Allstate
ALL
$67.6B
| $315M | 0.11% |
3,436,169
+233,144
| +7% | +$25.3M |
|
|
BNY
174
Bank of New York Mellon
BNY
$106B
| $311M | 0.11% |
9,228,919
+347,991
| +4% | +$14.6M |
|
175
Public Storage
PSA
$60.9B
| $309M | 0.11% |
1,557,726
+41,960
| +3% | +$8.99M |
|
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.