A superconducting bearing having at least one permanent magnet magnetized with a vertical polarization. The lower or stator portion of the bearing includes an array of high-temperature superconducting elements which are comprised of a plurality of annular rings. An annular ring is located below each permanent magnet and an annular ring is offset horizontally from at least one of the permanent magnets. The rings are composed of individual high-temperature superconducting elements located circumferentially along the ring. By constructing the horizontally-offset high-temperature superconducting ring so that the c-axis is oriented in a radial direction, a higher levitation force can be achieved. Such an orientation will also provide substantially lower rotational drag losses in the bearing.