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 | |
|---|---|---|---|---|---|---|
1126
Knight Transportation
KNX
$11.3B
| $33.8M | 0.01% |
930,549
-199,613
| -18% | -$6.94M |
|
1127
Acadia Healthcare
ACHC
$2.76B
| $33.8M | 0.01% |
1,086,312
+83,947
| +8% | +$2.56M |
|
1128
Elastic
ESTC
$6.84B
| $33.7M | 0.01% |
408,758
+311,418
| +320% | +$27.7M |
|
1129
Spire
SR
$4.73B
| $33.6M | 0.01% |
385,450
-11,279
| -3% | -$950K |
|
1130
Mercury Insurance
MCY
$5.94B
| $33.6M | 0.01% |
601,733
| – | – |
|
|
CSGS
1131
DELISTED
CSG Systems International
CSGS
| $33.6M | 0.01% |
650,160
| – | – |
|
|
OPLN
1132
Openlane
OPLN
$4.22B
| $33.6M | 0.01% |
1,368,446
+137,406
| +11% | +$3.52M |
|
1133
Safety Insurance
SAFT
$1.52B
| $33.5M | 0.01% |
331,095
| – | – |
|
1134
Horace Mann Educators
HMN
$2.1B
| $33.5M | 0.01% |
724,069
| – | – |
|
1135
RLJ Lodging Trust
RLJ
$1.87B
| $33.5M | 0.01% |
1,969,841
| – | – |
|
1136
Medpace
MEDP
$16.1B
| $33.4M | 0.01% |
397,225
| – | – |
|
|
LOGM
1137
DELISTED
LogMein, Inc.
LOGM
| $33.3M | 0.01% |
469,908
+18,421
| +4% | +$1.32M |
|
|
PRA
1138
DELISTED
ProAssurance
PRA
| $33.3M | 0.01% |
825,793
| – | – |
|
|
ACIA
1139
DELISTED
Acacia Communications Inc
ACIA
| $33.2M | 0.01% |
508,342
-45,225
| -8% | -$2.86M |
|
1140
Zurn Elkay Water Solutions
ZWS
$8.38B
| $33.2M | 0.01% |
2,549,480
| – | – |
|
1141
Pan American Silver
PAAS
$18.2B
| $33.2M | 0.01% |
2,116,192
+24,469
| +1% | +$396K |
|
1142
Atlantic Union Bankshares
AUB
$6.01B
| $33.1M | 0.01% |
887,528
| – | – |
|
1143
Moog Inc Class A
MOG.A
$12.3B
| $33M | 0.01% |
407,286
| – | – |
|
1144
Stantec
STN
$8.05B
| $33M | 0.01% |
1,489,473
| – | – |
|
|
PDM
1145
Piedmont Realty Trust
PDM
$1.21B
| $32.9M | 0.01% |
1,577,428
| – | – |
|
1146
Colliers International
CIGI
$5.03B
| $32.9M | 0.01% |
437,299
| – | – |
|
|
RPAI
1147
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $32.8M | 0.01% |
2,662,922
| – | – |
|
|
VRNT
1148
DELISTED
Verint Systems
VRNT
| $32.8M | 0.01% |
1,504,973
| – | – |
|
1149
Old National Bancorp
ONB
$10.2B
| $32.8M | 0.01% |
1,903,724
+57,937
| +3% | +$989K |
|
1150
Enpro
NPO
$6.63B
| $32.7M | 0.01% |
476,993
| – | – |
|
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.