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 |
Alibaba
BABA
|
+$713M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$532M |
| 3 |
AvalonBay Communities
AVB
|
+$338M |
| 4 |
Essex Property Trust
ESS
|
+$322M |
| 5 |
Equity Residential
EQR
|
+$295M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CELG
Celgene Corp
CELG
|
+$783M |
| 2 |
STI
SunTrust Banks, Inc.
STI
|
+$286M |
| 3 |
Morgan Stanley
MS
|
+$196M |
| 4 |
Bank of America
BAC
|
+$170M |
| 5 |
Ameriprise Financial
AMP
|
+$166M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.16% |
| 2 | Financials | 16.45% |
| 3 | Healthcare | 13.43% |
| 4 | Consumer Discretionary | 11.44% |
| 5 | Communication Services | 9.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Ball Corp
BALL
$16.7B
| $191M | 0.05% |
2,952,664
| – | – |
|
327
Halliburton
HAL
$26.9B
| $191M | 0.05% |
7,801,976
| – | – |
|
328
CoStar Group
CSGP
$12B
| $189M | 0.05% |
3,161,220
-33,810
| -1% | -$1.97M |
|
329
KeyCorp
KEY
$24.8B
| $187M | 0.05% |
9,251,793
+173,261
| +2% | +$3.27M |
|
330
International Paper
IP
$22.4B
| $187M | 0.05% |
4,291,001
+151,361
| +4% | +$6.35M |
|
331
Walmart Inc
WMT
$876B
| $187M | 0.05% |
+4,711,437
| New | +$187M |
|
332
Clorox
CLX
$12.3B
| $184M | 0.05% |
1,198,628
+174,597
| +17% | +$26.1M |
|
333
Logitech
LOGI
$15.4B
| $184M | 0.05% |
3,884,792
+43,887
| +1% | +$1.87M |
|
334
Regions Financial
RF
$27.2B
| $184M | 0.05% |
10,701,492
| – | – |
|
335
Trip.com Group
TCOM
$29.6B
| $183M | 0.05% |
5,469,010
-57,000
| -1% | -$1.84M |
|
336
NetApp
NTAP
$37.6B
| $183M | 0.05% |
2,945,163
| – | – |
|
337
Keysight
KEYS
$58B
| $183M | 0.05% |
1,785,847
| – | – |
|
338
Veeva Systems
VEEV
$34.2B
| $183M | 0.05% |
1,300,019
+25,810
| +2% | +$3.79M |
|
339
Fortis
FTS
$29B
| $183M | 0.05% |
4,402,768
+99,145
| +2% | +$4.05M |
|
340
Essential Utilities
WTRG
$11.1B
| $182M | 0.05% |
3,887,287
+50,495
| +1% | +$2.27M |
|
341
ResMed
RMD
$31.9B
| $181M | 0.05% |
1,168,977
| – | – |
|
342
Yum China
YUMC
$16.4B
| $181M | 0.05% |
3,768,773
-91,000
| -2% | -$4.04M |
|
343
D.R. Horton
DHI
$41.6B
| $179M | 0.05% |
3,399,758
| – | – |
|
344
Incyte
INCY
$24.2B
| $179M | 0.05% |
2,049,032
-58,915
| -3% | -$5.03M |
|
345
Seagate
STX
$194B
| $178M | 0.05% |
2,994,120
+8,354
| +0.3% | +$480K |
|
346
Agnico Eagle Mines
AEM
$76.8B
| $178M | 0.05% |
2,231,480
+122,880
| +6% | +$7.13M |
|
347
Fox Class B
FOX
$21.9B
| $177M | 0.05% |
4,872,340
+253,729
| +5% | +$8.52M |
|
|
MXIM
348
DELISTED
Maxim Integrated Products
MXIM
| $177M | 0.05% |
2,882,142
+53,144
| +2% | +$3.1M |
|
349
Healthpeak Properties
DOC
$14.8B
| $177M | 0.05% |
5,121,585
+160,000
| +3% | +$5.6M |
|
350
Fortinet
FTNT
$122B
| $175M | 0.05% |
8,208,265
| – | – |
|
Similar funds
Norges Bank's Q4 2019 Portfolio in Review
As of Q4 2019, Norges Bank held 2,137 positions worth $358B, up 9.8% from $327B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Norges Bank's Q4 2019 filing shows 45 new, 503 increased, 473 reduced and 63 closed positions. Its largest new stake was Walmart Inc: 4,711,437 shares worth $187M. The largest sale was Celgene Corp, an estimated $783M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q4 2019 buy was Walmart Inc: 4,711,437 shares worth $187M.
- Norges Bank added most to Alibaba in Q4 2019, an estimated $713M increase.
- Norges Bank's biggest Q4 2019 reduction was Morgan Stanley, cutting an estimated $196M.
- Norges Bank fully exited Celgene Corp in Q4 2019, selling an estimated $783M.
- Norges Bank's ten largest holdings make up 19% of its $358B portfolio in Q4 2019.
- Norges Bank opened 45 new positions and closed 63 in Q4 2019.
- Norges Bank's portfolio value rose 9.8% quarter-over-quarter to $358B.
Based on Norges Bank's 13F filing for Q4 2019, filed 12 Feb 2020.