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 | |
|---|---|---|---|---|---|---|
1376
Philips
PHG
$25.7B
| $25.8M | 0.01% |
729,801
| – | – |
|
1377
Federal Signal
FSS
$7.63B
| $25.8M | 0.01% |
962,298
-169,648
| -15% | -$4.29M |
|
1378
Mercury Systems
MRCY
$5.83B
| $25.8M | 0.01% |
465,571
+36,747
| +9% | +$1.78M |
|
1379
EXL Service
EXLS
$5.14B
| $25.7M | 0.01% |
1,942,415
-448,540
| -19% | -$5.55M |
|
1380
World Kinect Corp
WKC
$2.04B
| $25.7M | 0.01% |
927,876
| – | – |
|
|
LGF.B
1381
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $25.6M | 0.01% |
1,100,330
+245,941
| +29% | +$5.53M |
|
|
PRSU
1382
Pursuit Attractions and Hospitality Inc
PRSU
$1.39B
| $25.6M | 0.01% |
432,326
| – | – |
|
1383
Pan American Silver
PAAS
$18.2B
| $25.5M | 0.01% |
1,732,670
+130,459
| +8% | +$2.08M |
|
1384
United Fire Group
UFCS
$1.32B
| $25.5M | 0.01% |
501,950
| – | – |
|
1385
Helios Technologies
HLIO
$2.57B
| $25.4M | 0.01% |
464,309
+23,407
| +5% | +$1.19M |
|
|
PEGI
1386
DELISTED
Pattern Energy Group Inc. Class A
PEGI
| $25.4M | 0.01% |
1,277,314
-476,139
| -27% | -$9.19M |
|
|
CHX
1387
DELISTED
ChampionX
CHX
| $25.4M | 0.01% |
582,020
| – | – |
|
1388
Liberty Media Series A
FWONA
$22.5B
| $25.3M | 0.01% |
742,250
| – | – |
|
1389
Commercial Metals
CMC
$7.6B
| $25.3M | 0.01% |
1,232,126
+236,179
| +24% | +$5.08M |
|
1390
Liberty Latin America Class C
LILAK
$1.63B
| $25.3M | 0.01% |
1,430,988
-61,842
| -4% | -$1.04M |
|
1391
AMN Healthcare
AMN
$1.3B
| $25.3M | 0.01% |
461,633
+86,865
| +23% | +$4.97M |
|
|
QEP
1392
DELISTED
QEP RESOURCES, INC.
QEP
| $25.2M | 0.01% |
2,230,291
| – | – |
|
1393
Algonquin Power & Utilities
AQN
$4.49B
| $25.1M | 0.01% |
2,432,157
+383,851
| +19% | +$3.88M |
|
1394
Oil States International
OIS
$489M
| $25.1M | 0.01% |
755,730
| – | – |
|
1395
The Ensign Group
ENSG
$10.4B
| $25.1M | 0.01% |
706,825
+59,367
| +9% | +$2.07M |
|
1396
IMAX
IMAX
$2.62B
| $24.9M | 0.01% |
965,928
+88,486
| +10% | +$2.08M |
|
1397
Atlantic Union Bankshares
AUB
$6.02B
| $24.9M | 0.01% |
646,757
| – | – |
|
1398
Benchmark Electronics
BHE
$2.87B
| $24.9M | 0.01% |
1,064,186
-61,022
| -5% | -$1.61M |
|
1399
Ultragenyx Pharmaceutical
RARE
$2.45B
| $24.9M | 0.01% |
325,514
-230,880
| -41% | -$18.8M |
|
|
GCI
1400
DELISTED
Gannett Co., Inc
GCI
| $24.8M | 0.01% |
2,481,244
| – | – |
|
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.