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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+1.52%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$327B
AUM Growth
+$2.93B
Cap. Flow
+$1.58B
Cap. Flow %
0.48%
Top 10 Hldgs %
17.4%
Holding
2,164
New
59
Increased
636
Reduced
513
Closed
72

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.13B
2
BABA icon
Alibaba
BABA
+$831M
3
FIS icon
Fidelity National Information Services
FIS
+$349M
4
UBS icon
UBS Group
UBS
+$322M
5
JCI icon
Johnson Controls International
JCI
+$258M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$934M
2
APC
Anadarko Petroleum
APC
+$362M
3
WP
Worldpay, Inc.
WP
+$357M
4
RHT
Red Hat Inc
RHT
+$332M
5
AAPL icon
Apple
AAPL
+$246M

Sector Composition

Rank Sector Weight
1 Technology 18.41%
2 Financials 16.77%
3 Healthcare 13%
4 Consumer Discretionary 11.43%
5 Communication Services 9.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLIBA
526
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$97.4M 0.03%
1,568,525
-15,627
-1% -$967K
KL
527
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
$97.2M 0.03%
2,167,329
-375,030
-15% -$17.1M
UAL icon
528
United Airlines
UAL
$39.4B
$97.1M 0.03%
1,098,770
– –
CVE icon
529
Cenovus Energy
CVE
$55.7B
$97.1M 0.03%
10,342,146
+220,744
+2% +$2M
SIRI icon
530
SiriusXM
SIRI
$9.98B
$96.6M 0.03%
1,543,899
– –
TWLO icon
531
Twilio
TWLO
$30B
$96.4M 0.03%
876,920
+52,437
+6% +$6.8M
SNA icon
532
Snap-on
SNA
$21.2B
$96.4M 0.03%
615,819
– –
OTEX icon
533
Open Text
OTEX
$6.15B
$96.2M 0.03%
2,355,694
+40,400
+2% +$1.65M
USFD icon
534
US Foods
USFD
$22.2B
$95.6M 0.03%
2,326,922
-18,590
-0.8% -$718K
KSS icon
535
Kohl's
KSS
$2.17B
$95.5M 0.03%
1,922,889
– –
FFIV icon
536
F5
FFIV
$22.9B
$95.5M 0.03%
679,989
+17,904
+3% +$2.48M
ICLR icon
537
Icon
ICLR
$12.6B
$95M 0.03%
644,564
-6,528
-1% -$1M
TECH icon
538
Bio-Techne
TECH
$11.2B
$94.9M 0.03%
1,939,356
– –
CCK icon
539
Crown Holdings
CCK
$12.8B
$94.8M 0.03%
1,434,692
-131,545
-8% -$8.43M
ZTO icon
540
ZTO Express
ZTO
$18.3B
$94.6M 0.03%
4,436,691
– –
IRM icon
541
Iron Mountain
IRM
$36.4B
$94.2M 0.03%
2,906,782
+126,751
+5% +$3.98M
BAH icon
542
Booz Allen Hamilton
BAH
$8.39B
$94.1M 0.03%
1,324,455
+14,810
+1% +$1.05M
LSXMA
543
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$94M 0.03%
3,129,022
– –
BKI
544
DELISTED
Black Knight, Inc. Common Stock
BKI
$93.5M 0.03%
1,530,814
-128,829
-8% -$7.99M
OKTA icon
545
Okta
OKTA
$24.7B
$93.3M 0.03%
947,367
-235,012
-20% -$29.4M
NBIS
546
Nebius Group N.V.
NBIS
$48.3B
$93.2M 0.03%
2,661,239
– –
AVY icon
547
Avery Dennison
AVY
$13B
$92.9M 0.03%
817,845
– –
AFG icon
548
American Financial Group
AFG
$11.8B
$92.6M 0.03%
859,038
– –
LBTYA icon
549
Liberty Global Class A
LBTYA
$3.62B
$92.3M 0.03%
3,729,266
-82,440
-2% -$2.2M
AZPN
550
DELISTED
ASPEN TECHNOLOGY INC
AZPN
$92M 0.03%
747,658
+85,121
+13% +$10.5M
20 21
22
23 24

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Norges Bank's Q3 2019 Portfolio in Review

As of Q3 2019, Norges Bank held 2,164 positions worth $327B, up 0.9% from $324B the previous quarter. Its ten largest holdings account for 17% of the portfolio.

Norges Bank's Q3 2019 filing shows 59 new, 636 increased, 513 reduced and 72 closed positions. Its largest new stake was Johnson Controls International: 6,095,447 shares worth $268M. The largest sale was Alphabet (Google) Class C, an estimated $934M.

By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q3 2019 buy was Johnson Controls International: 6,095,447 shares worth $268M.
  • Norges Bank added most to Alphabet (Google) Class A in Q3 2019, an estimated $1.13B increase.
  • Norges Bank's biggest Q3 2019 reduction was Alphabet (Google) Class C, cutting an estimated $934M.
  • Norges Bank fully exited Anadarko Petroleum in Q3 2019, selling an estimated $362M.
  • Norges Bank's ten largest holdings make up 17% of its $327B portfolio in Q3 2019.
  • Norges Bank opened 59 new positions and closed 72 in Q3 2019.
  • Norges Bank's portfolio value rose 0.9% quarter-over-quarter to $327B.

Based on Norges Bank's 13F filing for Q3 2019, filed 8 Nov 2019.