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 | |
|---|---|---|---|---|---|---|
1751
Tencent Music
TME
$15.5B
| $10.7M | ﹤0.01% |
838,982
+154,320
| +23% | +$2.17M |
|
|
LKFT
1752
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.81B
| $10.7M | ﹤0.01% |
70,000
| – | – |
|
1753
Eldorado Gold
EGO
$8.53B
| $10.7M | ﹤0.01% |
1,378,433
| – | – |
|
|
HOUS
1754
DELISTED
Anywhere Real Estate
HOUS
| $10.7M | ﹤0.01% |
1,594,936
+148,685
| +10% | +$858K |
|
|
DO
1755
DELISTED
Diamond Offshore Drilling
DO
| $10.6M | ﹤0.01% |
1,910,667
| – | – |
|
1756
Baytex Energy
BTE
$3.04B
| $10.6M | ﹤0.01% |
7,161,119
| – | – |
|
|
STMP
1757
DELISTED
Stamps.com, Inc.
STMP
| $10.5M | ﹤0.01% |
141,651
+4,327
| +3% | +$254K |
|
1758
Coeur Mining
CDE
$15.9B
| $10.5M | ﹤0.01% |
2,184,767
+577,709
| +36% | +$2.86M |
|
|
HTT
1759
High Templar Tech Ltd
HTT
$379M
| $10.5M | ﹤0.01% |
1,519,268
| – | – |
|
1760
Tronox
TROX
$999M
| $10.5M | ﹤0.01% |
1,261,172
-6,000,000
| -83% | -$57.8M |
|
|
CVET
1761
DELISTED
Covetrus, Inc. Common Stock
CVET
| $10.4M | ﹤0.01% |
873,806
+67,616
| +8% | +$1.25M |
|
|
WPG
1762
DELISTED
Washington Prime Group Inc.
WPG
| $10.4M | ﹤0.01% |
278,356
| – | – |
|
1763
City Holding Co
CHCO
$2.04B
| $10.3M | ﹤0.01% |
135,728
| – | – |
|
1764
AeroVironment
AVAV
$7.42B
| $10.3M | ﹤0.01% |
193,123
-11,776
| -6% | -$646K |
|
1765
Garrett Motion
GTX
$5.78B
| $10.3M | ﹤0.01% |
1,036,559
| – | – |
|
|
CMO
1766
DELISTED
Capstead Mortgage Corp.
CMO
| $10.3M | ﹤0.01% |
1,402,066
+214,559
| +18% | +$1.72M |
|
|
SAVE
1767
DELISTED
Spirit Airlines, Inc.
SAVE
| $10.3M | ﹤0.01% |
283,585
| – | – |
|
1768
Oil States International
OIS
$456M
| $10.3M | ﹤0.01% |
770,730
+15,000
| +2% | +$216K |
|
1769
Buckle
BKE
$2.27B
| $10.2M | ﹤0.01% |
496,959
+18,609
| +4% | +$358K |
|
1770
Encore Capital Group
ECPG
$2.02B
| $10.2M | ﹤0.01% |
307,146
| – | – |
|
|
FFG
1771
DELISTED
FBL Financial Group
FFG
| $10.2M | ﹤0.01% |
171,876
| – | – |
|
|
ENDP
1772
DELISTED
Endo International plc
ENDP
| $10.2M | ﹤0.01% |
3,178,145
+271,613
| +9% | +$876K |
|
1773
Alcoa
AA
$11.9B
| $10.1M | ﹤0.01% |
505,296
-24,000
| -5% | -$499K |
|
|
TUP
1774
DELISTED
Tupperware Brands Corporation
TUP
| $10.1M | ﹤0.01% |
638,966
| – | – |
|
1775
Acushnet Holdings
GOLF
$5.88B
| $10.1M | ﹤0.01% |
383,830
| – | – |
|
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.