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 | |
|---|---|---|---|---|---|---|
1001
World Kinect Corp
WKC
$2.04B
| $40.2M | 0.01% |
1,006,654
| – | – |
|
1002
Telephone and Data Systems
TDS
$3.82B
| $40.2M | 0.01% |
1,557,273
-59,099
| -4% | -$1.65M |
|
1003
MongoDB
MDB
$27.1B
| $40.2M | 0.01% |
333,287
+113,742
| +52% | +$16.4M |
|
|
TMHC
1004
DELISTED
Taylor Morrison
TMHC
| $40.1M | 0.01% |
1,546,115
-162,798
| -10% | -$3.75M |
|
1005
FNB Corp
FNB
$6.73B
| $40.1M | 0.01% |
3,474,797
+47,961
| +1% | +$542K |
|
|
LM
1006
DELISTED
Legg Mason, Inc.
LM
| $40M | 0.01% |
1,047,684
+25,595
| +3% | +$968K |
|
1007
Southern Copper
SCCO
$143B
| $40M | 0.01% |
1,262,652
| – | – |
|
1008
Federated Hermes
FHI
$4.55B
| $39.9M | 0.01% |
1,232,062
| – | – |
|
1009
Affiliated Managers Group
AMG
$9.69B
| $39.9M | 0.01% |
478,481
+7,100
| +2% | +$593K |
|
1010
Marriott Vacations Worldwide
VAC
$3.35B
| $39.8M | 0.01% |
384,551
| – | – |
|
1011
Glacier Bancorp
GBCI
$6.42B
| $39.7M | 0.01% |
981,911
+246,093
| +33% | +$9.84M |
|
|
CMBT
1012
CMB.TECH NV
CMBT
$4.69B
| $39.7M | 0.01% |
4,347,876
| – | – |
|
1013
HealthEquity
HQY
$8.41B
| $39.7M | 0.01% |
694,777
+76,479
| +12% | +$5.08M |
|
1014
JetBlue
JBLU
$2.28B
| $39.7M | 0.01% |
2,368,945
| – | – |
|
|
SF
1015
Stifel
SF
$12.6B
| $39.6M | 0.01% |
1,551,906
+9,817
| +0.6% | +$247K |
|
1016
American Eagle Outfitters
AEO
$2.88B
| $39.5M | 0.01% |
2,432,475
| – | – |
|
1017
Hawaiian Electric Industries
HE
$2.23B
| $39.4M | 0.01% |
863,093
| – | – |
|
|
IBKC
1018
DELISTED
IBERIABANK Corp
IBKC
| $39.4M | 0.01% |
521,120
-36,958
| -7% | -$2.73M |
|
1019
ScottsMiracle-Gro
SMG
$3.82B
| $39.4M | 0.01% |
386,541
+21,632
| +6% | +$2.27M |
|
1020
FirstService
FSV
$6.48B
| $39.4M | 0.01% |
383,577
| – | – |
|
1021
ONE Gas
OGS
$4.87B
| $39.3M | 0.01% |
408,800
| – | – |
|
1022
Cameco
CCJ
$37.6B
| $39.3M | 0.01% |
4,132,831
+187,710
| +5% | +$1.76M |
|
1023
Bankunited
BKU
$3.37B
| $39.3M | 0.01% |
1,167,670
-61,304
| -5% | -$2M |
|
|
BPYU
1024
DELISTED
Brookfield Property REIT Inc. Class A Common Stock
BPYU
| $39.2M | 0.01% |
1,922,539
-40,700
| -2% | -$786K |
|
1025
Ashland
ASH
$3.33B
| $39.2M | 0.01% |
508,228
+16,690
| +3% | +$1.27M |
|
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.