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 | |
|---|---|---|---|---|---|---|
2001
XP
XP
$8.62B
| $680K | ﹤0.01% |
35,256
-60,174
| -63% | -$2.03M |
|
2002
Ethan Allen Interiors
ETD
$598M
| $646K | ﹤0.01% |
63,233
-7,420
| -11% | -$108K |
|
2003
Enliven Therapeutics
ELVN
$4.31B
| $641K | ﹤0.01% |
+10,000
| New | +$637K |
|
2004
Angi Inc
ANGI
$201M
| $622K | ﹤0.01% |
+11,844
| New | +$881K |
|
2005
NN Inc
NNBR
$298M
| $609K | ﹤0.01% |
352,008
| – | – |
|
2006
PagerDuty
PD
$856M
| $605K | ﹤0.01% |
35,000
| – | – |
|
2007
Adtran
ADTN
$611M
| $562K | ﹤0.01% |
73,229
-104,782
| -59% | -$895K |
|
|
ALR
2008
DELISTED
AlerisLife Inc
ALR
| $547K | ﹤0.01% |
+196,810
| New | +$828K |
|
2009
Century Aluminum
CENX
$4.55B
| $507K | ﹤0.01% |
140,163
| – | – |
|
|
MDLA
2010
DELISTED
Medallia, Inc.
MDLA
| $501K | ﹤0.01% |
25,000
| – | – |
|
|
MNK
2011
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $487K | ﹤0.01% |
246,002
-1,438,443
| -85% | -$5.45M |
|
|
AAWW
2012
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $478K | ﹤0.01% |
+18,633
| New | +$466K |
|
2013
Afya
AFYA
$1.27B
| $477K | ﹤0.01% |
25,000
| – | – |
|
2014
TFS Financial
TFSL
$5.01B
| $454K | ﹤0.01% |
29,762
+13,467
| +83% | +$264K |
|
|
RVI
2015
DELISTED
Retail Value Inc. Common Shares
RVI
| $428K | ﹤0.01% |
380,629
+34,045
| +10% | +$88.9K |
|
2016
GoPro
GPRO
$126M
| $409K | ﹤0.01% |
155,958
-392,532
| -72% | -$1.46M |
|
2017
Health Catalyst
HCAT
$171M
| $392K | ﹤0.01% |
15,000
| – | – |
|
|
NBP
2018
NovaBridge Biosciences American Depositary Shares
NBP
$197M
| $390K | ﹤0.01% |
+30,000
| New | +$375K |
|
2019
Comscore
SCOR
$113M
| $379K | ﹤0.01% |
6,722
-17,067
| -72% | -$1.29M |
|
2020
Beam Therapeutics
BEAM
$2.81B
| $360K | ﹤0.01% |
+20,000
| New | +$435K |
|
|
PR
2021
Permian Resources
PR
$17B
| $345K | ﹤0.01% |
1,310,962
| – | – |
|
2022
Cabaletta Bio
CABA
$450M
| $344K | ﹤0.01% |
47,100
-17,900
| -28% | -$245K |
|
|
LVGO
2023
DELISTED
Livongo Health, Inc. Common Stock
LVGO
| $342K | ﹤0.01% |
12,000
| – | – |
|
2024
Rio Tinto
RIO
$162B
| $335K | ﹤0.01% |
+7,353
| New | +$377K |
|
|
XYF
2025
X Financial
XYF
$201M
| $331K | ﹤0.01% |
105,000
| – | – |
|
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.