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 | |
|---|---|---|---|---|---|---|
|
QTS
1101
DELISTED
QTS REALTY TRUST, INC.
QTS
| $37.5M | 0.01% |
690,118
+17,504
| +3% | +$918K |
|
|
ICPT
1102
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $37.4M | 0.01% |
301,988
| – | – |
|
1103
ICU Medical
ICUI
$4.21B
| $37.4M | 0.01% |
199,880
-1,883
| -0.9% | -$324K |
|
1104
Sanmina
SANM
$9.95B
| $37.3M | 0.01% |
1,090,010
+20,694
| +2% | +$663K |
|
1105
Wolverine World Wide
WWW
$1.61B
| $37.3M | 0.01% |
1,105,165
| – | – |
|
|
AGR
1106
DELISTED
Avangrid, Inc.
AGR
| $37.1M | 0.01% |
724,765
| – | – |
|
|
SEM
1107
DELISTED
Select Medical
SEM
| $37M | 0.01% |
2,944,681
-37,965
| -1% | -$409K |
|
|
MZTI
1108
The Marzetti Company
MZTI
$2.93B
| $37M | 0.01% |
230,865
| – | – |
|
1109
Mercury Systems
MRCY
$5.83B
| $36.9M | 0.01% |
534,178
| – | – |
|
|
CSOD
1110
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $36.9M | 0.01% |
630,466
| – | – |
|
|
EE
1111
DELISTED
El Paso Electric Company
EE
| $36.9M | 0.01% |
542,891
| – | – |
|
1112
Hilton Grand Vacations
HGV
$3.59B
| $36.8M | 0.01% |
1,071,273
| – | – |
|
1113
Cameco
CCJ
$37.6B
| $36.7M | 0.01% |
4,132,831
| – | – |
|
|
COUP
1114
DELISTED
Coupa Software Incorporated
COUP
| $36.5M | 0.01% |
249,539
-20,884
| -8% | -$2.98M |
|
1115
Vishay Intertechnology
VSH
$5.25B
| $36.5M | 0.01% |
1,713,618
+41,536
| +2% | +$806K |
|
1116
J&J Snack Foods
JJSF
$1.43B
| $36.4M | 0.01% |
197,751
+6,130
| +3% | +$1.15M |
|
1117
Kennametal
KMT
$2.59B
| $36.4M | 0.01% |
985,755
| – | – |
|
1118
Mattel
MAT
$4.38B
| $36.3M | 0.01% |
2,676,312
| – | – |
|
1119
Iovance Biotherapeutics
IOVA
$1.82B
| $36.2M | 0.01% |
1,308,979
+701,550
| +115% | +$16M |
|
1120
Columbia Sportswear
COLM
$3.04B
| $36M | 0.01% |
359,495
| – | – |
|
1121
Clearway Energy Class C
CWEN
$4.94B
| $36M | 0.01% |
1,804,170
+10,000
| +0.6% | +$194K |
|
|
B
1122
DELISTED
Barnes Group Inc.
B
| $35.9M | 0.01% |
579,684
| – | – |
|
1123
HUB Group
HUBG
$2.85B
| $35.9M | 0.01% |
1,399,298
| – | – |
|
1124
Cimpress
CMPR
$2.39B
| $35.9M | 0.01% |
285,122
| – | – |
|
|
P
1125
Everpure Inc
P
$25.7B
| $35.8M | 0.01% |
2,094,803
| – | – |
|
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.