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 |
Meta Platforms (Facebook)
META
|
+$203M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$196M |
| 3 |
AT&T
T
|
+$174M |
| 4 |
NIO
NIO
|
+$163M |
| 5 |
T-Mobile US
TMUS
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GGP
GGP Inc.
GGP
|
+$606M |
| 2 |
Wells Fargo
WFC
|
+$206M |
| 3 |
Oracle
ORCL
|
+$200M |
| 4 |
UBS Group
UBS
|
+$185M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$154M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.96% |
| 2 | Financials | 17.19% |
| 3 | Healthcare | 13.99% |
| 4 | Consumer Discretionary | 11.37% |
| 5 | Communication Services | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1126
Bloomin' Brands
BLMN
$741M
| $35.9M | 0.01% |
1,812,332
| – | – |
|
|
ORBK
1127
DELISTED
Orbotech Ltd
ORBK
| $35.9M | 0.01% |
603,209
| – | – |
|
|
SEM
1128
DELISTED
Select Medical
SEM
| $35.8M | 0.01% |
3,611,095
| – | – |
|
1129
Cameco
CCJ
$37.6B
| $35.7M | 0.01% |
3,134,851
| – | – |
|
|
ICPT
1130
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $35.6M | 0.01% |
282,045
+94,276
| +50% | +$9.98M |
|
1131
Bank OZK
OZK
$5.6B
| $35.4M | 0.01% |
932,496
+299,277
| +47% | +$12.3M |
|
|
AHL
1132
DELISTED
ASPEN Insurance Holding Limited
AHL
| $35.4M | 0.01% |
846,157
-56,392
| -6% | -$2.25M |
|
|
WLL
1133
DELISTED
Whiting Petroleum Corporation
WLL
| $35.4M | 0.01% |
8,891
+890
| +11% | +$3.28M |
|
|
SONC
1134
DELISTED
Sonic Corp
SONC
| $35.4M | 0.01% |
815,909
+94,594
| +13% | +$3.4M |
|
|
SKX
1135
DELISTED
Skechers
SKX
| $35.2M | 0.01% |
1,261,726
+27,817
| +2% | +$806K |
|
|
VNE
1136
DELISTED
Veoneer, Inc.
VNE
| $35.2M | 0.01% |
+639,242
| New | +$32.9M |
|
|
SF
1137
Stifel
SF
$12.6B
| $35.1M | 0.01% |
1,542,089
+268,911
| +21% | +$6.47M |
|
1138
Eagle Materials
EXP
$6.29B
| $35.1M | 0.01% |
412,084
+17,880
| +5% | +$1.74M |
|
|
ODP
1139
DELISTED
ODP
ODP
| $35.1M | 0.01% |
1,093,213
-76,893
| -7% | -$2.3M |
|
|
SWN
1140
DELISTED
Southwestern Energy Company
SWN
| $35.1M | 0.01% |
6,859,398
+5,054,781
| +280% | +$26.8M |
|
1141
Deluxe
DLX
$1.18B
| $35M | 0.01% |
615,057
| – | – |
|
1142
Crocs
CROX
$6.14B
| $35M | 0.01% |
1,644,724
-158,820
| -9% | -$3.05M |
|
1143
Zurn Elkay Water Solutions
ZWS
$8.38B
| $35M | 0.01% |
2,357,450
-2,259,169
| -49% | -$32.2M |
|
|
PRMW
1144
DELISTED
Primo Water Corporation
PRMW
| $35M | 0.01% |
2,165,767
-293,272
| -12% | -$4.64M |
|
|
CIM
1145
Chimera Investment
CIM
$1.04B
| $34.9M | 0.01% |
642,355
+17,693
| +3% | +$995K |
|
1146
Forward Air
FWRD
$444M
| $34.9M | 0.01% |
487,016
-75,290
| -13% | -$4.79M |
|
1147
EastGroup Properties
EGP
$11.2B
| $34.9M | 0.01% |
364,633
| – | – |
|
1148
HEICO Corp
HEI
$49.8B
| $34.8M | 0.01% |
376,060
-144,854
| -28% | -$11.9M |
|
1149
UMB Financial
UMBF
$11.1B
| $34.8M | 0.01% |
490,680
+91,442
| +23% | +$6.87M |
|
1150
Ubiquiti
UI
$33.7B
| $34.8M | 0.01% |
351,782
-50,192
| -12% | -$4.43M |
|
Similar funds
Norges Bank's Q3 2018 Portfolio in Review
As of Q3 2018, Norges Bank held 2,209 positions worth $308B, up 5.7% from $291B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Norges Bank's Q3 2018 filing shows 74 new, 715 increased, 609 reduced and 67 closed positions. Its largest new stake was NIO: 19,750,000 shares worth $138M. The largest sale was GGP Inc., an estimated $606M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q3 2018 buy was NIO: 19,750,000 shares worth $138M.
- Norges Bank added most to Meta Platforms (Facebook) in Q3 2018, an estimated $203M increase.
- Norges Bank's biggest Q3 2018 reduction was Wells Fargo, cutting an estimated $206M.
- Norges Bank fully exited GGP Inc. in Q3 2018, selling an estimated $606M.
- Norges Bank's ten largest holdings make up 17% of its $308B portfolio in Q3 2018.
- Norges Bank opened 74 new positions and closed 67 in Q3 2018.
- Norges Bank's portfolio value rose 5.7% quarter-over-quarter to $308B.
Based on Norges Bank's 13F filing for Q3 2018, filed 9 Nov 2018.