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 | |
|---|---|---|---|---|---|---|
1501
TTM Technologies
TTMI
$12B
| $19.2M | 0.01% |
1,574,709
| – | – |
|
1502
Supernus Pharmaceuticals
SUPN
$2.65B
| $19.2M | 0.01% |
698,547
-31,298
| -4% | -$927K |
|
|
HEES
1503
DELISTED
H&E Equipment Services
HEES
| $19.2M | 0.01% |
664,693
+10,524
| +2% | +$285K |
|
|
LTXB
1504
DELISTED
LegacyTexas Financial Group Inc
LTXB
| $19.1M | 0.01% |
439,561
| – | – |
|
1505
Energizer
ENR
$1.44B
| $19.1M | 0.01% |
438,788
-139,223
| -24% | -$5.54M |
|
|
DLPH
1506
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
| $19M | 0.01% |
1,420,214
-125,000
| -8% | -$1.98M |
|
1507
Terex
TEX
$7.11B
| $19M | 0.01% |
732,389
| – | – |
|
|
HTLF
1508
DELISTED
Heartland Financial USA, Inc.
HTLF
| $19M | 0.01% |
425,062
+88,825
| +26% | +$3.96M |
|
1509
NovaGold Resources
NG
$2.66B
| $19M | 0.01% |
3,129,928
| – | – |
|
1510
Caleres
CAL
$437M
| $19M | 0.01% |
811,394
| – | – |
|
|
CALY
1511
Callaway Golf Company
CALY
$3.33B
| $18.9M | 0.01% |
975,209
-216,583
| -18% | -$3.93M |
|
|
PPBI
1512
DELISTED
Pacific Premier Bancorp
PPBI
| $18.9M | 0.01% |
605,313
| – | – |
|
1513
Kelly Services Class A
KELYA
$521M
| $18.8M | 0.01% |
777,051
+18,109
| +2% | +$470K |
|
|
BHVN
1514
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
| $18.8M | 0.01% |
450,803
| – | – |
|
|
TBI
1515
Trueblue
TBI
$222M
| $18.8M | 0.01% |
891,107
+12,766
| +1% | +$264K |
|
1516
Scholastic
SCHL
$789M
| $18.7M | 0.01% |
495,526
-30,204
| -6% | -$1.06M |
|
1517
Merit Medical Systems
MMSI
$4.97B
| $18.7M | 0.01% |
612,574
| – | – |
|
1518
Enovis
ENOV
$1.69B
| $18.6M | 0.01% |
372,781
+52,813
| +17% | +$2.49M |
|
1519
Moelis & Co
MC
$5.08B
| $18.6M | 0.01% |
567,204
+28,985
| +5% | +$983K |
|
|
VNE
1520
DELISTED
Veoneer, Inc.
VNE
| $18.6M | 0.01% |
1,242,844
| – | – |
|
|
FARO
1521
DELISTED
Faro Technologies
FARO
| $18.6M | 0.01% |
385,020
| – | – |
|
1522
Theravance Biopharma
TBPH
$873M
| $18.6M | 0.01% |
955,589
+27,333
| +3% | +$552K |
|
|
AYR
1523
DELISTED
Aircastle Ltd
AYR
| $18.6M | 0.01% |
828,943
| – | – |
|
1524
Constellium
CSTM
$3.89B
| $18.5M | 0.01% |
1,455,916
+95,877
| +7% | +$1.13M |
|
|
PEGI
1525
DELISTED
Pattern Energy Group Inc. Class A
PEGI
| $18.3M | 0.01% |
679,446
-149,522
| -18% | -$3.77M |
|
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.