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 | |
|---|---|---|---|---|---|---|
1201
Advanced Energy
AEIS
$11.6B
| $32.6M | 0.01% |
630,529
| – | – |
|
|
WEB
1202
DELISTED
Web.com Group, Inc.
WEB
| $32.5M | 0.01% |
1,166,564
-35,746
| -3% | -$965K |
|
|
BDN
1203
Brandywine Realty Trust
BDN
$524M
| $32.5M | 0.01% |
2,069,394
| – | – |
|
1204
Shenandoah Telecom
SHEN
$664M
| $32.5M | 0.01% |
839,465
| – | – |
|
|
RPAI
1205
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $32.5M | 0.01% |
2,662,922
| – | – |
|
1206
Advanced Drainage Systems
WMS
$10.6B
| $32.3M | 0.01% |
1,045,547
| – | – |
|
|
UNT
1207
DELISTED
UNIT Corporation
UNT
| $32.3M | 0.01% |
1,239,177
+154,010
| +14% | +$4M |
|
|
AXE
1208
DELISTED
Anixter International Inc
AXE
| $32.3M | 0.01% |
459,254
-44,430
| -9% | -$3.11M |
|
1209
Brink's
BCO
$4.88B
| $32.2M | 0.01% |
461,649
| – | – |
|
1210
Weibo
WB
$2B
| $32M | 0.01% |
438,134
+84,100
| +24% | +$6.77M |
|
|
EE
1211
DELISTED
El Paso Electric Company
EE
| $32M | 0.01% |
560,141
-42,134
| -7% | -$2.58M |
|
|
FLOW
1212
DELISTED
SPX FLOW, Inc.
FLOW
| $32M | 0.01% |
616,104
-40,329
| -6% | -$1.9M |
|
|
ENV
1213
DELISTED
ENVESTNET, INC.
ENV
| $32M | 0.01% |
525,523
-49,777
| -9% | -$3.01M |
|
1214
Valmont Industries
VMI
$9.3B
| $32M | 0.01% |
230,861
-18,569
| -7% | -$2.61M |
|
1215
Boise Cascade
BCC
$2.69B
| $31.9M | 0.01% |
868,015
| – | – |
|
1216
Boyd Gaming
BYD
$6.18B
| $31.9M | 0.01% |
942,927
| – | – |
|
1217
Strategy Inc
MSTR
$34.1B
| $31.9M | 0.01% |
2,266,400
-68,110
| -3% | -$957K |
|
1218
BGC Group
BGC
$5.45B
| $31.8M | 0.01% |
4,182,124
-552,649
| -12% | -$4.09M |
|
1219
Wabtec
WAB
$49.1B
| $31.7M | 0.01% |
302,520
+10,182
| +3% | +$1.1M |
|
1220
NewMarket
NEU
$7.82B
| $31.7M | 0.01% |
78,208
| – | – |
|
|
UNIT
1221
Uniti Group
UNIT
$2.36B
| $31.7M | 0.01% |
1,571,930
+69,169
| +5% | +$1.37M |
|
1222
Viasat
VSAT
$10.6B
| $31.6M | 0.01% |
494,757
+29,188
| +6% | +$1.92M |
|
1223
Mattel
MAT
$4.38B
| $31.6M | 0.01% |
2,014,653
-214,267
| -10% | -$3.43M |
|
1224
UFP Industries
UFPI
$4.9B
| $31.6M | 0.01% |
894,840
-28,105
| -3% | -$1.04M |
|
1225
Bank of Hawaii
BOH
$3.15B
| $31.6M | 0.01% |
400,317
| – | – |
|
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.