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 | |
|---|---|---|---|---|---|---|
|
ARR
1751
Armour Residential REIT
ARR
$2.35B
| $6.66M | ﹤0.01% |
151,187
| – | – |
|
1752
Buckle
BKE
$2.34B
| $6.64M | ﹤0.01% |
484,442
+11,552
| +2% | +$260K |
|
1753
Forrester Research
FORR
$226M
| $6.63M | ﹤0.01% |
226,767
| – | – |
|
1754
Verra Mobility
VRRM
$852M
| $6.58M | ﹤0.01% |
+921,510
| New | +$12.3M |
|
1755
Herc Holdings
HRI
$5.64B
| $6.53M | ﹤0.01% |
318,963
| – | – |
|
1756
Kearny Financial
KRNY
$609M
| $6.52M | ﹤0.01% |
759,031
| – | – |
|
|
HA
1757
DELISTED
Hawaiian Holdings, Inc.
HA
| $6.5M | ﹤0.01% |
622,112
-119,809
| -16% | -$2.73M |
|
1758
Columbia Financial
CLBK
$1.12B
| $6.47M | ﹤0.01% |
449,279
| – | – |
|
1759
The RMR Group
RMR
$324M
| $6.43M | ﹤0.01% |
238,496
| – | – |
|
|
FFG
1760
DELISTED
FBL Financial Group
FFG
| $6.4M | ﹤0.01% |
137,126
-34,750
| -20% | -$1.76M |
|
1761
Resideo Technologies
REZI
$3.97B
| $6.4M | ﹤0.01% |
1,322,086
-61,591
| -4% | -$581K |
|
|
PDCE
1762
DELISTED
PDC Energy, Inc.
PDCE
| $6.39M | ﹤0.01% |
1,029,030
+302,959
| +42% | +$5.46M |
|
1763
Sony
SONY
$132B
| $6.37M | ﹤0.01% |
538,250
| – | – |
|
1764
NETGEAR
NTGR
$654M
| $6.37M | ﹤0.01% |
278,801
-19,518
| -7% | -$438K |
|
|
LADR
1765
Ladder Capital
LADR
$1.2B
| $6.34M | ﹤0.01% |
1,337,287
+63,924
| +5% | +$971K |
|
1766
Celestica
CLS
$41.7B
| $6.33M | ﹤0.01% |
1,803,221
| – | – |
|
1767
Red Rock Resorts
RRR
$3.56B
| $6.3M | ﹤0.01% |
736,952
+45,038
| +7% | +$893K |
|
1768
Dine Brands
DIN
$453M
| $6.3M | ﹤0.01% |
219,660
-3,045
| -1% | -$221K |
|
1769
Virtus Investment Partners
VRTS
$1.08B
| $6.29M | ﹤0.01% |
82,701
| – | – |
|
|
INN
1770
Summit Hotel Properties
INN
$739M
| $6.25M | ﹤0.01% |
1,480,730
| – | – |
|
|
AEGN
1771
DELISTED
Aegion Corp
AEGN
| $6.24M | ﹤0.01% |
348,132
| – | – |
|
|
VCRA
1772
DELISTED
VOCERA COMMUNICATIONS, INC.
VCRA
| $6.2M | ﹤0.01% |
292,089
| – | – |
|
1773
LGI Homes
LGIH
$1.43B
| $6.17M | ﹤0.01% |
136,751
+8,641
| +7% | +$642K |
|
1774
OraSure Technologies
OSUR
$286M
| $6.17M | ﹤0.01% |
573,385
| – | – |
|
|
JKS
1775
JinkoSolar
JKS
$826M
| $6.15M | ﹤0.01% |
413,965
-147,526
| -26% | -$3.1M |
|
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.