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 |
Alphabet (Google) Class A
GOOGL
|
+$1.13B |
| 2 |
Alibaba
BABA
|
+$831M |
| 3 |
Fidelity National Information Services
FIS
|
+$349M |
| 4 |
UBS Group
UBS
|
+$322M |
| 5 |
Johnson Controls International
JCI
|
+$258M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
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 |
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 | |
|---|---|---|---|---|---|---|
926
Cullen/Frost Bankers
CFR
$10.4B
| $45.4M | 0.01% |
512,826
+11,304
| +2% | +$1M |
|
927
Jefferies Financial Group
JEF
$12.6B
| $45.4M | 0.01% |
2,580,277
-175,459
| -6% | -$3.12M |
|
928
Nektar Therapeutics
NKTR
$2.39B
| $45.2M | 0.01% |
165,500
+13,476
| +9% | +$4.94M |
|
929
Graphic Packaging
GPK
$3.17B
| $45M | 0.01% |
3,052,003
| – | – |
|
930
Huazhu Hotels Group
HTHT
$13.1B
| $44.9M | 0.01% |
1,360,538
| – | – |
|
931
TriMas Corp
TRS
$1.43B
| $44.9M | 0.01% |
1,463,522
| – | – |
|
932
Frontdoor
FTDR
$5.1B
| $44.6M | 0.01% |
918,541
+62,687
| +7% | +$3.03M |
|
933
Cinemark Holdings
CNK
$4.24B
| $44.6M | 0.01% |
1,154,457
+12,960
| +1% | +$495K |
|
934
MillerKnoll
MLKN
$1.53B
| $44.6M | 0.01% |
967,765
| – | – |
|
935
Prosperity Bancshares
PB
$8.97B
| $44.5M | 0.01% |
630,155
-3,441
| -0.5% | -$231K |
|
936
Eagle Materials
EXP
$6.29B
| $44.4M | 0.01% |
493,270
+81,186
| +20% | +$6.97M |
|
937
PBF Energy
PBF
$8.57B
| $44M | 0.01% |
1,618,341
| – | – |
|
|
RP
938
DELISTED
RealPage, Inc.
RP
| $44M | 0.01% |
699,550
+59,960
| +9% | +$3.76M |
|
939
Grand Canyon Education
LOPE
$3.85B
| $43.8M | 0.01% |
446,485
-21,381
| -5% | -$2.55M |
|
940
Essent Group
ESNT
$6.08B
| $43.8M | 0.01% |
919,348
| – | – |
|
|
TWO
941
Two Harbors Investment
TWO
$1.27B
| $43.7M | 0.01% |
832,989
+19,350
| +2% | +$1.02M |
|
942
Churchill Downs
CHDN
$5.88B
| $43.7M | 0.01% |
708,732
| – | – |
|
943
KB Home
KBH
$3.37B
| $43.7M | 0.01% |
1,285,639
| – | – |
|
944
Watts Water Technologies
WTS
$11.5B
| $43.7M | 0.01% |
466,297
| – | – |
|
945
Semtech
SMTC
$11B
| $43.7M | 0.01% |
898,937
| – | – |
|
|
TECD
946
DELISTED
Tech Data Corp
TECD
| $43.7M | 0.01% |
418,907
-15,735
| -4% | -$1.53M |
|
|
EQC
947
DELISTED
Equity Commonwealth
EQC
| $43.6M | 0.01% |
1,274,187
| – | – |
|
|
BLD
948
DELISTED
TopBuild
BLD
| $43.6M | 0.01% |
452,051
-24,151
| -5% | -$2.13M |
|
|
BLUE
949
DELISTED
bluebird bio
BLUE
| $43.6M | 0.01% |
36,630
| – | – |
|
|
BCPC
950
Balchem Corp
BCPC
$5.38B
| $43.5M | 0.01% |
438,805
+21,678
| +5% | +$2.07M |
|
Similar funds
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.