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 | |
|---|---|---|---|---|---|---|
551
Huntington Bancshares
HBAN
$34.5B
| $88.8M | 0.03% |
5,953,843
| – | – |
|
552
Avery Dennison
AVY
$13.4B
| $88.6M | 0.03% |
817,845
| – | – |
|
553
Zions Bancorporation
ZION
$10.1B
| $88.4M | 0.03% |
1,761,916
| – | – |
|
|
PF
554
DELISTED
Pinnacle Foods, Inc.
PF
| $88.2M | 0.03% |
1,360,939
+45,167
| +3% | +$2.99M |
|
555
Zebra Technologies
ZBRA
$13.7B
| $88.2M | 0.03% |
498,539
-19,668
| -4% | -$3.15M |
|
556
NVR
NVR
$16.8B
| $88.2M | 0.03% |
35,677
-198
| -0.6% | -$547K |
|
|
NBIS
557
Nebius Group N.V.
NBIS
$47.8B
| $88.1M | 0.03% |
2,678,743
-55,266
| -2% | -$1.87M |
|
558
PBF Energy
PBF
$8.65B
| $87.9M | 0.03% |
1,760,749
-143,845
| -8% | -$6.83M |
|
559
Invesco
IVZ
$13B
| $87.8M | 0.03% |
3,838,141
-411,313
| -10% | -$10.3M |
|
560
SEI Investments
SEIC
$12.4B
| $87.8M | 0.03% |
1,436,363
| – | – |
|
561
Vail Resorts
MTN
$5.45B
| $87.4M | 0.03% |
318,462
| – | – |
|
562
United Airlines
UAL
$40.1B
| $87.2M | 0.03% |
979,547
-91,126
| -9% | -$7.52M |
|
563
Cboe Global Markets
CBOE
$31B
| $87.2M | 0.03% |
908,331
| – | – |
|
|
NLSN
564
DELISTED
Nielsen Holdings plc
NLSN
| $87.1M | 0.03% |
3,150,456
+155,693
| +5% | +$4.19M |
|
565
IPG Photonics
IPGP
$3.6B
| $87M | 0.03% |
557,353
+128,878
| +30% | +$23.9M |
|
566
Teradyne
TER
$57.2B
| $87M | 0.03% |
2,351,628
| – | – |
|
567
ON Semiconductor
ON
$32.6B
| $84.9M | 0.03% |
4,607,849
| – | – |
|
568
Liberty Global Class C
LBTYK
$3.49B
| $84.3M | 0.03% |
2,993,333
-1,895,759
| -39% | -$51.2M |
|
569
Perrigo
PRGO
$1.43B
| $84.1M | 0.03% |
1,187,833
-191,302
| -14% | -$14.4M |
|
570
Voya Financial
VOYA
$9.09B
| $83.7M | 0.03% |
1,685,820
| – | – |
|
|
VER
571
DELISTED
VEREIT, Inc.
VER
| $83.7M | 0.03% |
2,306,726
| – | – |
|
|
SPR
572
DELISTED
Spirit AeroSystems
SPR
| $83.4M | 0.03% |
910,296
-58,492
| -6% | -$5.14M |
|
573
Church & Dwight Co
CHD
$23.1B
| $83.4M | 0.03% |
1,405,188
+52,475
| +4% | +$2.97M |
|
574
UGI
UGI
$7.76B
| $83.2M | 0.03% |
1,500,089
| – | – |
|
575
Murphy Oil
MUR
$5.48B
| $83.2M | 0.03% |
2,495,094
| – | – |
|
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.