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 | |
|---|---|---|---|---|---|---|
1001
Affiliated Managers Group
AMG
$9.91B
| $43.9M | 0.01% |
517,717
+39,236
| +8% | +$3.22M |
|
1002
Simpson Manufacturing
SSD
$7.87B
| $43.8M | 0.01% |
546,381
+24,729
| +5% | +$1.93M |
|
|
VRNT
1003
DELISTED
Verint Systems
VRNT
| $43.8M | 0.01% |
1,553,387
+48,414
| +3% | +$1.18M |
|
1004
World Kinect Corp
WKC
$2.03B
| $43.7M | 0.01% |
1,006,654
| – | – |
|
1005
Colliers International
CIGI
$5.18B
| $43.7M | 0.01% |
440,967
+3,668
| +0.8% | +$264K |
|
|
MNTA
1006
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $43.6M | 0.01% |
2,212,165
+50,000
| +2% | +$800K |
|
1007
Frontdoor
FTDR
$5.24B
| $43.6M | 0.01% |
918,541
| – | – |
|
|
EGOV
1008
DELISTED
NIC Inc
EGOV
| $43.6M | 0.01% |
1,948,620
| – | – |
|
|
SYNH
1009
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $43.5M | 0.01% |
730,698
| – | – |
|
1010
Advanced Energy
AEIS
$11.7B
| $43.5M | 0.01% |
610,295
| – | – |
|
1011
Liberty Global Class C
LBTYK
$3.6B
| $43.4M | 0.01% |
1,992,841
+694,898
| +54% | +$15.6M |
|
1012
Sinclair Inc
SBGI
$1.02B
| $43.4M | 0.01% |
1,301,363
-129,251
| -9% | -$4.81M |
|
|
CLR
1013
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $43.2M | 0.01% |
1,260,386
| – | – |
|
|
WCC
1014
WESCO International
WCC
$17.3B
| $43.2M | 0.01% |
727,749
-13,802
| -2% | -$720K |
|
1015
Sunstone Hotel Investors
SHO
$2.22B
| $43.2M | 0.01% |
3,104,519
| – | – |
|
1016
National Health Investors
NHI
$3.72B
| $43.2M | 0.01% |
530,279
+26,867
| +5% | +$2.2M |
|
1017
Wendy's
WEN
$1.43B
| $43.2M | 0.01% |
1,943,412
| – | – |
|
1018
Texas Roadhouse
TXRH
$14B
| $43.2M | 0.01% |
766,362
| – | – |
|
|
GWB
1019
DELISTED
Great Western Bancorp, Inc.
GWB
| $42.8M | 0.01% |
1,232,957
| – | – |
|
|
SF
1020
Stifel
SF
$12.7B
| $42.8M | 0.01% |
1,588,509
+36,603
| +2% | +$957K |
|
1021
Grand Canyon Education
LOPE
$3.91B
| $42.8M | 0.01% |
446,485
| – | – |
|
1022
Bank of Hawaii
BOH
$3.18B
| $42.7M | 0.01% |
448,971
+6,068
| +1% | +$540K |
|
|
MFA
1023
MFA Financial
MFA
$938M
| $42.7M | 0.01% |
1,395,204
+25,639
| +2% | +$783K |
|
1024
Bankunited
BKU
$3.41B
| $42.7M | 0.01% |
1,167,670
| – | – |
|
1025
Hancock Whitney
HWC
$6.26B
| $42.7M | 0.01% |
972,687
+42,671
| +5% | +$1.73M |
|
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.