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 | |
|---|---|---|---|---|---|---|
|
LADR
1451
Ladder Capital
LADR
$1.21B
| $23M | 0.01% |
1,273,363
+72,077
| +6% | +$1.24M |
|
1452
American States Water
AWR
$3.36B
| $23M | 0.01% |
265,050
| – | – |
|
1453
Cavco Industries
CVCO
$4.22B
| $22.9M | 0.01% |
117,181
| – | – |
|
1454
Rogers Corp
ROG
$2.21B
| $22.8M | 0.01% |
182,753
+3,069
| +2% | +$415K |
|
1455
National Vision
EYE
$1.77B
| $22.7M | 0.01% |
699,602
+457,923
| +189% | +$12.6M |
|
1456
Kenon Holdings
KEN
$3.51B
| $22.7M | 0.01% |
307,217
+44,219
| +17% | +$942K |
|
1457
SPX Corp
SPXC
$11B
| $22.6M | 0.01% |
443,197
| – | – |
|
1458
United Parks & Resorts
PRKS
$2.1B
| $22.5M | 0.01% |
709,521
-95,935
| -12% | -$2.77M |
|
|
HTLF
1459
DELISTED
Heartland Financial USA, Inc.
HTLF
| $22.5M | 0.01% |
451,624
+26,562
| +6% | +$1.25M |
|
|
SNBR
1460
DELISTED
Sleep Number
SNBR
| $22.4M | 0.01% |
455,445
-25,178
| -5% | -$1.2M |
|
|
AVX
1461
DELISTED
AVX Corporation
AVX
| $22.4M | 0.01% |
1,092,597
-59,836
| -5% | -$1.03M |
|
|
CWEN.A
1462
DELISTED
Clearway Energy Class A
CWEN.A
| $22.2M | 0.01% |
1,163,099
-150,000
| -11% | -$2.76M |
|
1463
First Merchants
FRME
$2.68B
| $22.2M | 0.01% |
534,579
| – | – |
|
1464
ESCO Technologies
ESE
$8.17B
| $22.2M | 0.01% |
240,248
+16,629
| +7% | +$1.42M |
|
|
HEES
1465
DELISTED
H&E Equipment Services
HEES
| $22.2M | 0.01% |
664,693
| – | – |
|
1466
Interactive Brokers
IBKR
$39.2B
| $22.2M | 0.01% |
1,904,616
| – | – |
|
1467
AutoNation
AN
$7.11B
| $22.2M | 0.01% |
455,948
| – | – |
|
1468
Rambus
RMBS
$9.87B
| $22.2M | 0.01% |
1,608,792
| – | – |
|
1469
Strategy Inc
MSTR
$34.1B
| $22.1M | 0.01% |
1,550,580
| – | – |
|
1470
Winnebago Industries
WGO
$856M
| $22.1M | 0.01% |
416,858
+998
| +0.2% | +$46.7K |
|
1471
CNX Resources
CNX
$5.3B
| $22M | 0.01% |
2,483,711
-1,107,164
| -31% | -$8.64M |
|
|
TWNK
1472
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $22M | 0.01% |
1,511,082
+90,916
| +6% | +$1.24M |
|
|
AVNS
1473
DELISTED
Avanos Medical
AVNS
| $22M | 0.01% |
651,702
| – | – |
|
1474
Ultragenyx Pharmaceutical
RARE
$2.45B
| $21.9M | 0.01% |
512,564
| – | – |
|
1475
Terex
TEX
$7.18B
| $21.8M | 0.01% |
732,389
| – | – |
|
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.