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 | |
|---|---|---|---|---|---|---|
401
Cheniere Energy
LNG
$54.2B
| $129M | 0.04% |
1,855,187
| – | – |
|
|
SIVB
402
DELISTED
SVB Financial Group
SIVB
| $128M | 0.04% |
411,191
+22,191
| +6% | +$7M |
|
403
IQVIA
IQV
$40.7B
| $127M | 0.04% |
982,180
-7,995
| -0.8% | -$960K |
|
404
Equifax
EFX
$22B
| $127M | 0.04% |
975,356
+55,550
| +6% | +$7.24M |
|
|
CA
405
DELISTED
CA, Inc.
CA
| $127M | 0.04% |
2,877,997
| – | – |
|
|
NBL
406
DELISTED
Noble Energy, Inc.
NBL
| $127M | 0.04% |
4,067,196
+713,757
| +21% | +$22.9M |
|
407
Markel Group
MKL
$25.2B
| $127M | 0.04% |
106,678
+1,562
| +1% | +$1.84M |
|
408
Celanese
CE
$4.82B
| $127M | 0.04% |
1,110,416
-800,000
| -42% | -$91.7M |
|
409
Tetra Tech
TTEK
$8.77B
| $126M | 0.04% |
9,256,380
-700,000
| -7% | -$9.27M |
|
410
Fortinet
FTNT
$112B
| $126M | 0.04% |
6,847,130
+2,860,820
| +72% | +$43.7M |
|
411
MGM Resorts International
MGM
$11.7B
| $126M | 0.04% |
4,520,866
+27,774
| +0.6% | +$805K |
|
412
Yum China
YUMC
$15.7B
| $126M | 0.04% |
3,591,179
| – | – |
|
413
Liberty Media Series C
FWONK
$25.5B
| $126M | 0.04% |
3,496,293
| – | – |
|
414
Hershey
HSY
$37.3B
| $125M | 0.04% |
1,222,413
| – | – |
|
|
ETFC
415
DELISTED
E*Trade Financial Corporation
ETFC
| $125M | 0.04% |
2,377,760
| – | – |
|
416
NOV
NOV
$6.84B
| $124M | 0.04% |
2,884,943
+81,532
| +3% | +$3.65M |
|
417
ResMed
RMD
$31.1B
| $124M | 0.04% |
1,074,715
| – | – |
|
418
Expeditors International
EXPD
$22.3B
| $124M | 0.04% |
1,680,794
-60,169
| -3% | -$4.45M |
|
419
CDW
CDW
$18.9B
| $123M | 0.04% |
1,378,725
+45,864
| +3% | +$3.97M |
|
420
Mercado Libre
MELI
$94.5B
| $122M | 0.04% |
359,239
-37,884
| -10% | -$12.8M |
|
|
DISCK
421
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $122M | 0.04% |
4,125,953
+103,412
| +3% | +$2.69M |
|
422
United Rentals
URI
$65.7B
| $122M | 0.04% |
743,076
-6,488
| -0.9% | -$1.01M |
|
|
KSU
423
DELISTED
Kansas City Southern
KSU
| $121M | 0.04% |
1,069,387
| – | – |
|
|
LLL
424
DELISTED
L3 Technologies, Inc.
LLL
| $121M | 0.04% |
568,595
| – | – |
|
425
Universal Health Services
UHS
$10.2B
| $121M | 0.04% |
944,768
+24,397
| +3% | +$2.99M |
|
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.