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 | |
|---|---|---|---|---|---|---|
1601
Signet Jewelers
SIG
$3.84B
| $17.2M | ﹤0.01% |
790,454
| – | – |
|
1602
News Corp Class B
NWS
$17.7B
| $17.2M | ﹤0.01% |
1,182,989
| – | – |
|
1603
Edgewell Personal Care
EPC
$1.3B
| $17.1M | ﹤0.01% |
551,755
+45,231
| +9% | +$1.46M |
|
|
CNH
1604
CNH Industrial
CNH
$13.3B
| $17.1M | ﹤0.01% |
1,786,589
-786,688
| -31% | -$7.39M |
|
1605
Ormat Technologies
ORA
$5.8B
| $17M | ﹤0.01% |
228,116
| – | – |
|
1606
PRA Group
PRAA
$672M
| $17M | ﹤0.01% |
467,016
| – | – |
|
1607
Antero Midstream
AM
$10.2B
| $16.9M | ﹤0.01% |
2,229,553
+1,116,927
| +100% | +$7.07M |
|
|
SWI
1608
DELISTED
SolarWinds Corporation Common Stock
SWI
| $16.8M | ﹤0.01% |
859,484
-416,239
| -33% | -$8.26M |
|
|
INVX
1609
Innovex International
INVX
$1.8B
| $16.8M | ﹤0.01% |
357,359
+23,406
| +7% | +$1.07M |
|
|
TARO
1610
DELISTED
Taro Pharmaceutical Industries Ltd.
TARO
| $16.7M | ﹤0.01% |
190,476
-10,485
| -5% | -$884K |
|
|
FBC
1611
DELISTED
Flagstar Bancorp, Inc. New
FBC
| $16.7M | ﹤0.01% |
437,346
+122,174
| +39% | +$4.57M |
|
1612
Interparfums
IPAR
$4.07B
| $16.7M | ﹤0.01% |
229,884
| – | – |
|
1613
Usana Health Sciences
USNA
$419M
| $16.7M | ﹤0.01% |
212,154
| – | – |
|
1614
CarGurus
CARG
$3.34B
| $16.6M | ﹤0.01% |
472,772
| – | – |
|
|
TERP
1615
DELISTED
TerraForm Power, Inc
TERP
| $16.6M | ﹤0.01% |
1,079,017
-68,957
| -6% | -$1.11M |
|
|
DISH
1616
DELISTED
DISH Network Corp.
DISH
| $16.6M | ﹤0.01% |
467,494
-51,908
| -10% | -$1.8M |
|
1617
Red Rock Resorts
RRR
$3.84B
| $16.6M | ﹤0.01% |
691,914
| – | – |
|
1618
Supernus Pharmaceuticals
SUPN
$2.7B
| $16.6M | ﹤0.01% |
698,547
| – | – |
|
1619
SiriusPoint
SPNT
$3.03B
| $16.5M | ﹤0.01% |
1,572,240
-48,205
| -3% | -$468K |
|
1620
Atara Biotherapeutics
ATRA
$72.6M
| $16.5M | ﹤0.01% |
40,150
| – | – |
|
|
AIMT
1621
DELISTED
Aimmune Therapeutics
AIMT
| $16.5M | ﹤0.01% |
493,939
+71,254
| +17% | +$1.99M |
|
1622
BGC Group
BGC
$5.64B
| $16.5M | ﹤0.01% |
2,780,048
| – | – |
|
1623
Resideo Technologies
REZI
$5.4B
| $16.5M | ﹤0.01% |
1,383,677
-133,325
| -9% | -$1.52M |
|
1624
Sturm, Ruger & Co
RGR
$603M
| $16.5M | ﹤0.01% |
350,767
-5,484
| -2% | -$249K |
|
1625
Core Laboratories
CLB
$455M
| $16.5M | ﹤0.01% |
437,916
| – | – |
|
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.