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 | |
|---|---|---|---|---|---|---|
501
Icon
ICLR
$12.8B
| $100M | 0.03% |
651,092
-8,518
| -1% | -$1.22M |
|
502
CarMax
KMX
$8.33B
| $99.9M | 0.03% |
1,338,220
-14,500
| -1% | -$1.11M |
|
503
Hormel Foods
HRL
$14B
| $99.5M | 0.03% |
2,524,694
| – | – |
|
504
Alnylam Pharmaceuticals
ALNY
$27.4B
| $99.2M | 0.03% |
1,132,931
+314,695
| +38% | +$31.7M |
|
505
Shopify
SHOP
$159B
| $99.1M | 0.03% |
6,025,670
+401,470
| +7% | +$6.12M |
|
506
Bio-Techne
TECH
$11.2B
| $98.9M | 0.03% |
1,937,772
| – | – |
|
507
Trimble
TRMB
$13.3B
| $98.4M | 0.03% |
2,264,620
-88,976
| -4% | -$3.48M |
|
|
LSXMA
508
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $98.2M | 0.03% |
3,129,022
| – | – |
|
509
C.H. Robinson
CHRW
$17.3B
| $98.2M | 0.03% |
1,002,849
+72,967
| +8% | +$6.85M |
|
510
Regency Centers
REG
$14.7B
| $97.8M | 0.03% |
1,512,792
| – | – |
|
511
Ovintiv
OVV
$17B
| $97.7M | 0.03% |
1,491,587
+23,100
| +2% | +$1.5M |
|
|
UNVR
512
DELISTED
Univar Solutions Inc.
UNVR
| $97.5M | 0.03% |
3,181,358
-38,062
| -1% | -$1.06M |
|
513
Albemarle
ALB
$13.9B
| $97.3M | 0.03% |
974,834
-9,777
| -1% | -$946K |
|
514
Arch Capital
ACGL
$34.5B
| $96.9M | 0.03% |
3,251,085
+65,082
| +2% | +$1.94M |
|
515
Coty
COTY
$2.37B
| $96.6M | 0.03% |
7,693,306
+2,758,162
| +56% | +$35.7M |
|
516
Ralph Lauren
RL
$23B
| $96.6M | 0.03% |
702,070
-25,514
| -4% | -$3.4M |
|
517
Credicorp
BAP
$32B
| $96.2M | 0.03% |
431,445
+156,098
| +57% | +$34.9M |
|
518
Nasdaq
NDAQ
$53.2B
| $96M | 0.03% |
3,357,729
+640,023
| +24% | +$19.7M |
|
519
Western Union
WU
$2.4B
| $95.9M | 0.03% |
5,031,668
-54,543
| -1% | -$1.06M |
|
520
Molina Healthcare
MOH
$10.2B
| $95.8M | 0.03% |
644,568
+61,308
| +11% | +$7.83M |
|
|
VMW
521
DELISTED
VMware, Inc
VMW
| $95.8M | 0.03% |
613,706
+347,768
| +131% | +$53.2M |
|
522
Tyler Technologies
TYL
$13.3B
| $95.7M | 0.03% |
390,487
+12,536
| +3% | +$2.98M |
|
|
HDS
523
DELISTED
HD Supply Holdings, Inc.
HDS
| $95.6M | 0.03% |
2,233,202
| – | – |
|
524
CF Industries
CF
$19.3B
| $95.5M | 0.03% |
1,755,103
-783,585
| -31% | -$37.8M |
|
525
American Financial Group
AFG
$11.8B
| $95.3M | 0.03% |
859,038
| – | – |
|
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.