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 | |
|---|---|---|---|---|---|---|
151
Progressive
PGR
$129B
| $455M | 0.14% |
5,890,990
+64,927
| +1% | +$5.11M |
|
152
MetLife
MET
$62.8B
| $449M | 0.14% |
9,512,394
-1,547,567
| -14% | -$73.8M |
|
153
EOG Resources
EOG
$77.4B
| $448M | 0.14% |
6,041,763
+251,921
| +4% | +$20.4M |
|
154
Sun Life Financial
SLF
$45.9B
| $444M | 0.14% |
9,923,168
+2,788,988
| +39% | +$117M |
|
155
Global Payments
GPN
$23.8B
| $442M | 0.14% |
2,779,052
+1,320,528
| +91% | +$216M |
|
156
Ameriprise Financial
AMP
$48.2B
| $436M | 0.13% |
2,965,780
-364,304
| -11% | -$51.1M |
|
157
Constellation Brands
STZ
$22.7B
| $433M | 0.13% |
2,091,282
-203,576
| -9% | -$40.9M |
|
158
Sherwin-Williams
SHW
$83.9B
| $430M | 0.13% |
2,345,034
| – | – |
|
159
Marathon Petroleum
MPC
$90.8B
| $430M | 0.13% |
7,070,104
-18,037
| -0.3% | -$951K |
|
160
L3Harris
LHX
$55.5B
| $428M | 0.13% |
2,051,033
+969,490
| +90% | +$198M |
|
161
Analog Devices
ADI
$175B
| $427M | 0.13% |
3,817,368
+6,565
| +0.2% | +$743K |
|
162
Estee Lauder
EL
$30.1B
| $415M | 0.13% |
2,086,735
+1,066
| +0.1% | +$204K |
|
163
Occidental Petroleum
OXY
$55.7B
| $414M | 0.13% |
9,302,494
+1,503,757
| +19% | +$71.1M |
|
|
MRSH
164
Marsh
MRSH
$93.9B
| $414M | 0.13% |
4,134,261
-70,529
| -2% | -$7.05M |
|
165
Vertex Pharmaceuticals
VRTX
$124B
| $404M | 0.12% |
2,382,379
| – | – |
|
166
Ecolab
ECL
$78.8B
| $403M | 0.12% |
2,034,922
+24,702
| +1% | +$4.95M |
|
167
Baidu
BIDU
$35.4B
| $403M | 0.12% |
3,918,690
+329,182
| +9% | +$35.4M |
|
168
Manulife Financial
MFC
$73.1B
| $402M | 0.12% |
21,891,696
| – | – |
|
169
Kinder Morgan
KMI
$71.3B
| $399M | 0.12% |
19,364,315
+12,272
| +0.1% | +$252K |
|
|
ATVI
170
DELISTED
Activision Blizzard
ATVI
| $397M | 0.12% |
7,509,770
-49,803
| -0.7% | -$2.48M |
|
171
Ross Stores
ROST
$80.1B
| $396M | 0.12% |
3,608,887
| – | – |
|
172
Exelon
EXC
$48.3B
| $395M | 0.12% |
11,474,527
| – | – |
|
173
Valero Energy
VLO
$90.7B
| $395M | 0.12% |
4,635,745
-30,141
| -0.6% | -$2.44M |
|
174
Capital One
COF
$130B
| $393M | 0.12% |
4,318,021
| – | – |
|
175
DuPont de Nemours
DD
$18.6B
| $391M | 0.12% |
4,373,670
-1,288,901
| -23% | -$113M |
|
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.