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 | |
|---|---|---|---|---|---|---|
1726
Skywest
SKYW
$4.35B
| $12.8M | ﹤0.01% |
198,155
+39,817
| +25% | +$2.43M |
|
1727
Buckle
BKE
$2.32B
| $12.8M | ﹤0.01% |
472,890
-24,069
| -5% | -$572K |
|
1728
Corcept Therapeutics
CORT
$9.98B
| $12.8M | ﹤0.01% |
1,055,507
| – | – |
|
1729
Astec Industries
ASTE
$1.17B
| $12.7M | ﹤0.01% |
302,752
+21,935
| +8% | +$796K |
|
1730
Kratos Defense & Security Solutions
KTOS
$8.23B
| $12.7M | ﹤0.01% |
704,888
+77,613
| +12% | +$1.44M |
|
1731
Inspire Medical Systems
INSP
$1.47B
| $12.7M | ﹤0.01% |
170,897
-11,284
| -6% | -$725K |
|
|
JKS
1732
JinkoSolar
JKS
$764M
| $12.6M | ﹤0.01% |
561,491
| – | – |
|
1733
Penske Automotive Group
PAG
$14.7B
| $12.6M | ﹤0.01% |
251,285
| – | – |
|
1734
Oil States International
OIS
$466M
| $12.6M | ﹤0.01% |
770,730
| – | – |
|
|
RDFN
1735
DELISTED
Redfin
RDFN
| $12.5M | ﹤0.01% |
591,510
+63,270
| +12% | +$1.21M |
|
|
CSR
1736
Centerspace
CSR
$952M
| $12.5M | ﹤0.01% |
172,182
| – | – |
|
1737
Acushnet Holdings
GOLF
$6B
| $12.5M | ﹤0.01% |
383,830
| – | – |
|
|
BRSP
1738
BrightSpire Capital
BRSP
$634M
| $12.5M | ﹤0.01% |
946,605
+567,933
| +150% | +$7.72M |
|
|
GTY
1739
Getty Realty Corp
GTY
$2.16B
| $12.4M | ﹤0.01% |
378,620
| – | – |
|
|
STFC
1740
DELISTED
State Auto Financial Corp
STFC
| $12.4M | ﹤0.01% |
400,961
| – | – |
|
1741
ATN International
ATNI
$365M
| $12.4M | ﹤0.01% |
224,357
| – | – |
|
1742
Gossamer Bio
GOSS
$101M
| $12.4M | ﹤0.01% |
794,275
+51,284
| +7% | +$1.03M |
|
|
BPFH
1743
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
| $12.3M | ﹤0.01% |
1,021,129
+23,384
| +2% | +$271K |
|
1744
Cars.com
CARS
$722M
| $12.3M | ﹤0.01% |
1,004,727
| – | – |
|
1745
U-Haul Holding Co
UHAL
$14B
| $12.3M | ﹤0.01% |
326,230
| – | – |
|
1746
Ambarella
AMBA
$3.04B
| $12.1M | ﹤0.01% |
199,906
+23,649
| +13% | +$1.31M |
|
1747
eHealth
EHTH
$41.9M
| $12.1M | ﹤0.01% |
125,906
+13,710
| +12% | +$1.06M |
|
1748
Zai Lab
ZLAB
$2.07B
| $12.1M | ﹤0.01% |
290,100
| – | – |
|
1749
AeroVironment
AVAV
$7.19B
| $11.9M | ﹤0.01% |
193,123
| – | – |
|
1750
Stratasys
SSYS
$666M
| $11.9M | ﹤0.01% |
589,267
+48,804
| +9% | +$972K |
|
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.