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 | |
|---|---|---|---|---|---|---|
1901
Garrett Motion
GTX
$5.87B
| $2.59M | ﹤0.01% |
904,859
| – | – |
|
1902
Helix Energy Solutions
HLX
$1.37B
| $2.58M | ﹤0.01% |
1,575,632
-56,480
| -3% | -$372K |
|
1903
Boot Barn
BOOT
$4.89B
| $2.58M | ﹤0.01% |
199,655
| – | – |
|
1904
Apollo Global Management
APO
$74.9B
| $2.56M | ﹤0.01% |
+76,320
| New | +$3.28M |
|
1905
Quanex
NX
$959M
| $2.51M | ﹤0.01% |
248,671
-288,497
| -54% | -$4.6M |
|
1906
Black Diamond Therapeutics
BDTX
$102M
| $2.5M | ﹤0.01% |
+100,000
| New | +$3.04M |
|
|
CHK
1907
DELISTED
Chesapeake Energy Corporation
CHK
| $2.45M | ﹤0.01% |
70,834
| – | – |
|
1908
Pricesmart
PSMT
$5.76B
| $2.41M | ﹤0.01% |
45,877
-202,146
| -82% | -$11.8M |
|
1909
Levi Strauss
LEVI
$9.48B
| $2.39M | ﹤0.01% |
192,176
| – | – |
|
|
VIVO
1910
DELISTED
Meridian Bioscience Inc
VIVO
| $2.36M | ﹤0.01% |
281,050
| – | – |
|
1911
Clearwater Paper
CLW
$367M
| $2.35M | ﹤0.01% |
107,928
| – | – |
|
1912
E.W. Scripps
SSP
$263M
| $2.35M | ﹤0.01% |
311,060
| – | – |
|
1913
Stock Yards Bancorp
SYBT
$2.63B
| $2.33M | ﹤0.01% |
80,707
+4,162
| +5% | +$150K |
|
1914
Kamada
KMDA
$417M
| $2.32M | ﹤0.01% |
381,963
-17,483
| -4% | -$106K |
|
|
KRA
1915
DELISTED
Kraton Corporation
KRA
| $2.32M | ﹤0.01% |
286,245
-178,571
| -38% | -$2.66M |
|
|
DQ
1916
Daqo New Energy
DQ
$899M
| $2.29M | ﹤0.01% |
197,735
| – | – |
|
|
AZUL
1917
DELISTED
Azul
AZUL
| $2.24M | ﹤0.01% |
220,189
-100,000
| -31% | -$3.17M |
|
1918
MGP Ingredients
MGPI
$379M
| $2.18M | ﹤0.01% |
81,047
-7,337
| -8% | -$251K |
|
1919
Copa Holdings
CPA
$6.13B
| $2.16M | ﹤0.01% |
47,677
-95,792
| -67% | -$8.19M |
|
1920
Genesco
GCO
$442M
| $2.15M | ﹤0.01% |
161,520
| – | – |
|
1921
Lennar Class B
LEN.B
$20.8B
| $2.11M | ﹤0.01% |
76,654
| – | – |
|
1922
Marcus Corp
MCS
$937M
| $2.07M | ﹤0.01% |
167,907
-11,540
| -6% | -$290K |
|
|
WPG
1923
DELISTED
Washington Prime Group Inc.
WPG
| $2.02M | ﹤0.01% |
278,356
| – | – |
|
|
RUBY
1924
DELISTED
Rubius Therapeutics, Inc
RUBY
| $2M | ﹤0.01% |
450,000
| – | – |
|
|
DO
1925
DELISTED
Diamond Offshore Drilling
DO
| $1.99M | ﹤0.01% |
1,089,408
-821,259
| -43% | -$3.36M |
|
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.