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 | |
|---|---|---|---|---|---|---|
826
Autoliv
ALV
$9.09B
| $57.5M | 0.02% |
680,637
| – | – |
|
827
Nutanix
NTNX
$16.4B
| $57.3M | 0.02% |
1,831,921
+531,651
| +41% | +$15.7M |
|
828
White Mountains Insurance
WTM
$5.21B
| $57.3M | 0.02% |
51,336
| – | – |
|
829
PG&E
PCG
$37.7B
| $56.9M | 0.02% |
5,229,990
+126,418
| +2% | +$1.08M |
|
830
Graham Holdings Company
GHC
$5.09B
| $56.8M | 0.02% |
88,938
-2,061
| -2% | -$1.32M |
|
|
KW
831
DELISTED
Kennedy-Wilson Holdings
KW
| $56.7M | 0.02% |
2,540,539
| – | – |
|
832
American Airlines Group
AAL
$10.6B
| $56.6M | 0.02% |
1,974,768
-212,261
| -10% | -$6.05M |
|
|
SKX
833
DELISTED
Skechers
SKX
| $56.5M | 0.02% |
1,307,082
| – | – |
|
834
Maximus
MMS
$3.24B
| $56.4M | 0.02% |
757,611
| – | – |
|
835
FirstService
FSV
$6.51B
| $56.3M | 0.02% |
468,410
+84,833
| +22% | +$7.99M |
|
|
PFPT
836
DELISTED
Proofpoint, Inc.
PFPT
| $56.3M | 0.02% |
490,288
| – | – |
|
837
STAG Industrial
STAG
$7.35B
| $56.2M | 0.02% |
1,779,465
| – | – |
|
838
Darling Ingredients
DAR
$9.51B
| $56.1M | 0.02% |
1,997,858
| – | – |
|
839
Carter's
CRI
$1.49B
| $56.1M | 0.02% |
512,635
| – | – |
|
840
MasTec
MTZ
$20.7B
| $56M | 0.02% |
873,487
+171,174
| +24% | +$11.3M |
|
841
AGCO
AGCO
$7.23B
| $55.8M | 0.02% |
722,778
| – | – |
|
842
Harley-Davidson
HOG
$2.65B
| $55.7M | 0.02% |
1,498,109
-90,198
| -6% | -$3.36M |
|
843
Unifirst Corp
UNF
$5.32B
| $55.3M | 0.02% |
273,737
| – | – |
|
|
BCPC
844
Balchem Corp
BCPC
$5.57B
| $55.3M | 0.02% |
543,981
+105,176
| +24% | +$10.6M |
|
845
Zillow
Z
$7.93B
| $55M | 0.02% |
1,196,822
| – | – |
|
846
Mine Safety
MSA
$7.48B
| $54.9M | 0.02% |
434,463
| – | – |
|
|
SNV
847
DELISTED
Synovus
SNV
| $54.9M | 0.02% |
1,400,063
| – | – |
|
|
CIT
848
DELISTED
CIT Group Inc.
CIT
| $54.7M | 0.02% |
1,199,698
-65,204
| -5% | -$2.92M |
|
849
International Flavors & Fragrances
IFF
$20.3B
| $54.7M | 0.02% |
420,690
-58,777
| -12% | -$7.51M |
|
|
CZR
850
DELISTED
Caesars Entertainment Corporation
CZR
| $54.6M | 0.02% |
4,011,300
| – | – |
|
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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.