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 | |
|---|---|---|---|---|---|---|
1226
Invesco Mortgage Capital
IVR
$759M
| $31.6M | 0.01% |
190,007
+12,966
| +7% | +$2.08M |
|
|
OPLN
1227
Openlane
OPLN
$4.21B
| $31.6M | 0.01% |
1,451,065
+82,619
| +6% | +$1.88M |
|
1228
Horace Mann Educators
HMN
$2.1B
| $31.6M | 0.01% |
724,069
| – | – |
|
1229
GSK
GSK
$104B
| $31.5M | 0.01% |
536,805
+72,287
| +16% | +$4.02M |
|
1230
OSI Systems
OSIS
$3.65B
| $31.4M | 0.01% |
311,236
+5,851
| +2% | +$578K |
|
1231
Fulton Financial
FULT
$4.66B
| $31.3M | 0.01% |
1,795,108
-40,887
| -2% | -$695K |
|
|
DOOR
1232
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $31.3M | 0.01% |
433,152
| – | – |
|
|
AAT
1233
American Assets Trust
AAT
$1.45B
| $31.3M | 0.01% |
681,412
+7,766
| +1% | +$363K |
|
1234
Tandem Diabetes Care
TNDM
$1.34B
| $31.3M | 0.01% |
524,502
-9,759
| -2% | -$602K |
|
|
DLPH
1235
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
| $31.2M | 0.01% |
2,435,123
+1,014,909
| +71% | +$13.1M |
|
1236
LCI Industries
LCII
$2.49B
| $31.2M | 0.01% |
291,243
+2,430
| +0.8% | +$246K |
|
|
SIX
1237
DELISTED
Six Flags Entertainment Corp.
SIX
| $31.2M | 0.01% |
691,318
| – | – |
|
1238
Dropbox
DBX
$7.6B
| $31.2M | 0.01% |
1,739,805
+425,136
| +32% | +$8.01M |
|
|
GRUB
1239
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $31.1M | 0.01% |
319,830
-8,875
| -3% | -$813K |
|
1240
Liberty Media Series A
FWONA
$22.5B
| $31.1M | 0.01% |
742,250
| – | – |
|
1241
FIVE9
FIVN
$2.11B
| $31M | 0.01% |
472,897
+19,702
| +4% | +$1.21M |
|
|
AVLR
1242
DELISTED
Avalara, Inc.
AVLR
| $31M | 0.01% |
423,115
+60,898
| +17% | +$4.42M |
|
1243
Genworth Financial
GNW
$3.76B
| $30.9M | 0.01% |
7,030,917
| – | – |
|
|
HI
1244
DELISTED
Hillenbrand
HI
| $30.9M | 0.01% |
928,596
+33,418
| +4% | +$1.06M |
|
|
CHX
1245
DELISTED
ChampionX
CHX
| $30.9M | 0.01% |
915,419
| – | – |
|
|
OSB
1246
DELISTED
Norbord Inc.
OSB
| $30.9M | 0.01% |
1,155,182
-16,084
| -1% | -$429K |
|
1247
BHP
BHP
$215B
| $30.9M | 0.01% |
633,049
| – | – |
|
1248
First Financial Bancorp
FFBC
$3.55B
| $30.8M | 0.01% |
1,212,329
| – | – |
|
1249
AAR Corp
AIR
$5.59B
| $30.8M | 0.01% |
683,594
+6,374
| +0.9% | +$277K |
|
|
AIMC
1250
DELISTED
Altra Industrial Motion Corp
AIMC
| $30.7M | 0.01% |
849,035
-264
| -0% | -$8.39K |
|
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.