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 | |
|---|---|---|---|---|---|---|
576
Iron Mountain
IRM
$36.9B
| $92.6M | 0.03% |
2,906,782
| – | – |
|
|
VMW
577
DELISTED
VMware, Inc
VMW
| $92.5M | 0.03% |
609,532
| – | – |
|
|
ABMD
578
DELISTED
Abiomed Inc
ABMD
| $92.4M | 0.03% |
541,403
-13,439
| -2% | -$2.49M |
|
579
Generac Holdings
GNRC
$11.9B
| $92.1M | 0.03% |
915,180
-31,498
| -3% | -$2.93M |
|
580
FMC
FMC
$1.3B
| $91.8M | 0.03% |
919,409
+49,957
| +6% | +$4.65M |
|
581
Gaming and Leisure Properties
GLPI
$12.7B
| $91.2M | 0.03% |
2,119,427
+146,610
| +7% | +$6.02M |
|
582
Brown & Brown
BRO
$24B
| $91.2M | 0.03% |
2,308,937
+11,526
| +0.5% | +$433K |
|
583
Omega Healthcare
OHI
$14.7B
| $91M | 0.03% |
2,148,941
+9,690
| +0.5% | +$410K |
|
|
AMED
584
DELISTED
Amedisys
AMED
| $90.9M | 0.03% |
544,597
| – | – |
|
|
IPG
585
DELISTED
Interpublic Group of Companies
IPG
| $90.8M | 0.03% |
3,932,528
| – | – |
|
|
ZEN
586
DELISTED
ZENDESK INC
ZEN
| $90.4M | 0.03% |
1,180,072
+335,546
| +40% | +$24.6M |
|
587
LPL Financial
LPLA
$28.8B
| $90.3M | 0.03% |
979,044
-18,978
| -2% | -$1.63M |
|
588
Lennox International
LII
$15B
| $89.8M | 0.03% |
368,002
| – | – |
|
|
CY
589
DELISTED
Cypress Semiconductor
CY
| $89.7M | 0.03% |
3,846,529
| – | – |
|
590
Zions Bancorporation
ZION
$10.3B
| $89.7M | 0.03% |
1,727,460
| – | – |
|
|
BKI
591
DELISTED
Black Knight, Inc. Common Stock
BKI
| $89.5M | 0.03% |
1,388,253
-142,561
| -9% | -$8.83M |
|
|
HDS
592
DELISTED
HD Supply Holdings, Inc.
HDS
| $88.6M | 0.02% |
2,202,396
-30,806
| -1% | -$1.23M |
|
593
Cable One
CABO
$254M
| $88.4M | 0.02% |
59,423
-7,816
| -12% | -$11.1M |
|
594
Reliance Steel & Aluminium
RS
$20.9B
| $88M | 0.02% |
734,556
| – | – |
|
595
Twilio
TWLO
$29.8B
| $87.9M | 0.02% |
894,553
+17,633
| +2% | +$1.8M |
|
596
Sensata Technologies
ST
$6.81B
| $87.6M | 0.02% |
1,626,880
| – | – |
|
597
Vail Resorts
MTN
$5.32B
| $87.6M | 0.02% |
365,335
+4,324
| +1% | +$1.02M |
|
|
WUBA
598
DELISTED
58.com Inc
WUBA
| $87.3M | 0.02% |
1,348,509
-34,812
| -3% | -$1.96M |
|
599
SEI Investments
SEIC
$12.5B
| $87.3M | 0.02% |
1,332,853
| – | – |
|
600
Nexstar Media Group
NXST
$5.88B
| $87.1M | 0.02% |
742,933
| – | – |
|
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.