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 | |
|---|---|---|---|---|---|---|
926
Quanta Services
PWR
$100B
| $46.4M | 0.02% |
1,391,097
-184,247
| -12% | -$6.27M |
|
927
Unifirst Corp
UNF
$5.3B
| $46.4M | 0.02% |
267,258
| – | – |
|
928
National Fuel Gas
NFG
$7.82B
| $46.2M | 0.02% |
824,877
| – | – |
|
929
Silicon Laboratories
SLAB
$7.17B
| $46.2M | 0.02% |
503,039
| – | – |
|
930
First Horizon
FHN
$12.2B
| $46.2M | 0.02% |
2,675,126
| – | – |
|
931
Monolithic Power Systems
MPWR
$70.1B
| $46M | 0.01% |
366,363
+15,059
| +4% | +$2.1M |
|
|
ARGO
932
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $46M | 0.01% |
729,072
| – | – |
|
|
OSB
933
DELISTED
Norbord Inc.
OSB
| $45.9M | 0.01% |
1,387,050
| – | – |
|
934
Penumbra
PEN
$12.6B
| $45.8M | 0.01% |
305,831
+56,027
| +22% | +$7.85M |
|
|
TSG
935
DELISTED
The Stars Group Inc.
TSG
| $45.7M | 0.01% |
1,841,932
+298,077
| +19% | +$9.07M |
|
936
Telephone and Data Systems
TDS
$3.82B
| $45.7M | 0.01% |
1,502,453
+58,120
| +4% | +$1.66M |
|
|
ELLI
937
DELISTED
Ellie Mae Inc
ELLI
| $45.7M | 0.01% |
481,800
+57,062
| +13% | +$5.86M |
|
938
Brixmor Property Group
BRX
$9.67B
| $45.6M | 0.01% |
2,601,536
| – | – |
|
939
Alkermes
ALKS
$8.22B
| $45.5M | 0.01% |
1,072,314
-23,424
| -2% | -$1.02M |
|
|
GPT
940
DELISTED
Gramercy Property Trust
GPT
| $45.3M | 0.01% |
1,651,314
| – | – |
|
941
Ziff Davis
ZD
$1.96B
| $45.3M | 0.01% |
628,275
+14,122
| +2% | +$1.03M |
|
|
FLG
942
Flagstar Bank National Association
FLG
$5.93B
| $45.2M | 0.01% |
1,452,868
| – | – |
|
943
AMC Global Media
AMCX
$492M
| $45.2M | 0.01% |
681,012
| – | – |
|
944
Semtech
SMTC
$11B
| $45M | 0.01% |
809,639
-124,239
| -13% | -$6.5M |
|
945
Howard Hughes
HHH
$3.81B
| $45M | 0.01% |
379,967
| – | – |
|
|
LSI
946
DELISTED
Life Storage, Inc.
LSI
| $45M | 0.01% |
708,729
| – | – |
|
947
Hyatt Hotels
H
$16.4B
| $45M | 0.01% |
564,891
+69,279
| +14% | +$5.44M |
|
948
Exelixis
EXEL
$13.3B
| $44.9M | 0.01% |
2,536,452
| – | – |
|
|
MDSO
949
DELISTED
Medidata Solutions, Inc.
MDSO
| $44.8M | 0.01% |
611,007
+12,102
| +2% | +$968K |
|
|
PFPT
950
DELISTED
Proofpoint, Inc.
PFPT
| $44.7M | 0.01% |
420,402
+9,610
| +2% | +$1.12M |
|
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.