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 |
Meta Platforms (Facebook)
META
|
+$203M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$196M |
| 3 |
AT&T
T
|
+$174M |
| 4 |
NIO
NIO
|
+$163M |
| 5 |
T-Mobile US
TMUS
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GGP
GGP Inc.
GGP
|
+$606M |
| 2 |
Wells Fargo
WFC
|
+$206M |
| 3 |
Oracle
ORCL
|
+$200M |
| 4 |
UBS Group
UBS
|
+$185M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$154M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.96% |
| 2 | Financials | 17.19% |
| 3 | Healthcare | 13.99% |
| 4 | Consumer Discretionary | 11.37% |
| 5 | Communication Services | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AMTD
326
DELISTED
TD Ameritrade Holding Corp
AMTD
| $168M | 0.05% |
3,182,626
-126,254
| -4% | -$7.18M |
|
327
Citizens Financial Group
CFG
$30.1B
| $168M | 0.05% |
4,351,854
-1,124,776
| -21% | -$45.4M |
|
328
KeyCorp
KEY
$23.8B
| $168M | 0.05% |
8,430,209
| – | – |
|
329
Tyson Foods
TSN
$21.5B
| $167M | 0.05% |
2,807,756
-100,629
| -3% | -$6.29M |
|
|
CTXS
330
DELISTED
Citrix Systems Inc
CTXS
| $167M | 0.05% |
1,499,527
| – | – |
|
331
Sun Life Financial
SLF
$45.6B
| $167M | 0.05% |
4,193,125
+808,831
| +24% | +$32.4M |
|
|
FDC
332
DELISTED
First Data Corporation
FDC
| $167M | 0.05% |
6,807,369
+3,061,732
| +82% | +$73.8M |
|
333
Cardinal Health
CAH
$53.7B
| $166M | 0.05% |
3,082,882
-101,457
| -3% | -$5.19M |
|
334
CGI
GIB
$15.4B
| $166M | 0.05% |
2,580,513
-61,453
| -2% | -$3.99M |
|
335
MSCI
MSCI
$42.4B
| $166M | 0.05% |
936,035
| – | – |
|
336
Labcorp
LH
$25.2B
| $166M | 0.05% |
1,111,809
+52,049
| +5% | +$7.92M |
|
337
M&T Bank
MTB
$36.3B
| $165M | 0.05% |
1,000,002
| – | – |
|
338
Verisk Analytics
VRSK
$27.7B
| $164M | 0.05% |
1,362,111
-39,881
| -3% | -$4.64M |
|
339
Thomson Reuters
TRI
$46.4B
| $162M | 0.05% |
3,062,709
-156,432
| -5% | -$7.83M |
|
340
TransUnion
TRU
$16B
| $162M | 0.05% |
2,201,076
-174,236
| -7% | -$13M |
|
341
Conagra Brands
CAG
$7.42B
| $162M | 0.05% |
4,758,555
| – | – |
|
342
TransDigm Group
TDG
$70.7B
| $161M | 0.05% |
433,622
+2,703
| +0.6% | +$973K |
|
343
CenterPoint Energy
CNP
$28.3B
| $161M | 0.05% |
5,807,805
+1,375,292
| +31% | +$38.5M |
|
344
Willis Towers Watson
WTW
$29.8B
| $160M | 0.05% |
1,134,077
-68,245
| -6% | -$10.3M |
|
|
INFO
345
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $159M | 0.05% |
2,948,287
+55,000
| +2% | +$2.96M |
|
346
Incyte
INCY
$25.8B
| $158M | 0.05% |
2,294,400
-146,896
| -6% | -$10.1M |
|
347
Teck Resources
TECK
$28.2B
| $158M | 0.05% |
6,559,111
+806,174
| +14% | +$19.4M |
|
348
Quest Diagnostics
DGX
$26B
| $158M | 0.05% |
1,462,022
-27,972
| -2% | -$3.07M |
|
349
Synopsys
SNPS
$71.6B
| $157M | 0.05% |
1,596,917
-44,290
| -3% | -$4.22M |
|
|
PPL
350
PPL Corp
PPL
$26.9B
| $156M | 0.05% |
5,328,873
-38,285
| -0.7% | -$1.12M |
|
Similar funds
Norges Bank's Q3 2018 Portfolio in Review
As of Q3 2018, Norges Bank held 2,209 positions worth $308B, up 5.7% from $291B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Norges Bank's Q3 2018 filing shows 74 new, 715 increased, 609 reduced and 67 closed positions. Its largest new stake was NIO: 19,750,000 shares worth $138M. The largest sale was GGP Inc., an estimated $606M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q3 2018 buy was NIO: 19,750,000 shares worth $138M.
- Norges Bank added most to Meta Platforms (Facebook) in Q3 2018, an estimated $203M increase.
- Norges Bank's biggest Q3 2018 reduction was Wells Fargo, cutting an estimated $206M.
- Norges Bank fully exited GGP Inc. in Q3 2018, selling an estimated $606M.
- Norges Bank's ten largest holdings make up 17% of its $308B portfolio in Q3 2018.
- Norges Bank opened 74 new positions and closed 67 in Q3 2018.
- Norges Bank's portfolio value rose 5.7% quarter-over-quarter to $308B.
Based on Norges Bank's 13F filing for Q3 2018, filed 9 Nov 2018.