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 | |
|---|---|---|---|---|---|---|
1076
Progress Software
PRGS
$1.66B
| $39.2M | 0.01% |
944,229
| – | – |
|
1077
Southwest Gas
SWX
$6.47B
| $39.1M | 0.01% |
515,305
| – | – |
|
1078
Telephone and Data Systems
TDS
$3.82B
| $39.1M | 0.01% |
1,537,780
-19,493
| -1% | -$478K |
|
|
IBKC
1079
DELISTED
IBERIABANK Corp
IBKC
| $39M | 0.01% |
521,120
| – | – |
|
|
CMD
1080
DELISTED
Cantel Medical Corporation
CMD
| $38.8M | 0.01% |
547,182
-72,163
| -12% | -$5.23M |
|
|
PRO
1081
DELISTED
PROS Holdings
PRO
| $38.8M | 0.01% |
647,068
+65,789
| +11% | +$3.8M |
|
1082
Avient
AVNT
$3.33B
| $38.5M | 0.01% |
1,045,559
| – | – |
|
|
AL
1083
DELISTED
Air Lease Corp
AL
| $38.5M | 0.01% |
809,403
| – | – |
|
|
PLAN
1084
DELISTED
Anaplan, Inc.
PLAN
| $38.4M | 0.01% |
732,984
| – | – |
|
1085
LXP Industrial Trust
LXP
$3.57B
| $38.4M | 0.01% |
722,973
+50,713
| +8% | +$2.71M |
|
1086
National Fuel Gas
NFG
$7.82B
| $38.4M | 0.01% |
824,877
| – | – |
|
1087
Knight Transportation
KNX
$11.3B
| $38.3M | 0.01% |
1,068,876
+138,327
| +15% | +$5.08M |
|
1088
TriNet
TNET
$3.02B
| $38.3M | 0.01% |
676,235
-56,324
| -8% | -$3.13M |
|
1089
Cabot Corp
CBT
$4.54B
| $38.3M | 0.01% |
805,530
| – | – |
|
1090
Badger Meter
BMI
$3.89B
| $38.1M | 0.01% |
587,208
| – | – |
|
1091
Builders FirstSource
BLDR
$7.15B
| $38.1M | 0.01% |
1,499,414
-172,980
| -10% | -$4.13M |
|
1092
NewMarket
NEU
$7.82B
| $38M | 0.01% |
78,208
| – | – |
|
1093
ONE Gas
OGS
$4.87B
| $38M | 0.01% |
406,148
-2,652
| -0.6% | -$243K |
|
1094
Ashland
ASH
$3.33B
| $37.9M | 0.01% |
495,581
-12,647
| -2% | -$960K |
|
1095
International Bancshares
IBOC
$4.76B
| $37.8M | 0.01% |
878,498
| – | – |
|
1096
Goodyear
GT
$2B
| $37.8M | 0.01% |
2,428,504
| – | – |
|
1097
Wayfair
W
$11.2B
| $37.6M | 0.01% |
416,418
-31,872
| -7% | -$2.97M |
|
|
IMMU
1098
DELISTED
Immunomedics Inc
IMMU
| $37.6M | 0.01% |
1,778,360
+100,000
| +6% | +$1.76M |
|
|
LM
1099
DELISTED
Legg Mason, Inc.
LM
| $37.6M | 0.01% |
1,047,684
| – | – |
|
1100
Viavi Solutions
VIAV
$9.12B
| $37.5M | 0.01% |
2,503,320
| – | – |
|
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.