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 |
Meta Platforms (Facebook)
META
|
+$203M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$196M |
| 3 |
AT&T
T
|
+$174M |
| 4 |
NIO
NIO
|
+$163M |
| 5 |
T-Mobile US
TMUS
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GGP
GGP Inc.
GGP
|
+$606M |
| 2 |
Wells Fargo
WFC
|
+$206M |
| 3 |
Oracle
ORCL
|
+$200M |
| 4 |
UBS Group
UBS
|
+$185M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$154M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.96% |
| 2 | Financials | 17.19% |
| 3 | Healthcare | 13.99% |
| 4 | Consumer Discretionary | 11.37% |
| 5 | Communication Services | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2001
Arbutus Biopharma
ABUS
$847M
| $3.49M | ﹤0.01% |
+369,720
| New | +$3.67M |
|
|
USX
2002
DELISTED
U.S. Xpress Enterprises, Inc. Class A Common Stock
USX
| $3.45M | ﹤0.01% |
250,000
| – | – |
|
2003
Bloom Energy
BE
$48.2B
| $3.41M | ﹤0.01% |
+100,000
| New | +$2.8M |
|
2004
Lands' End
LE
$378M
| $3.39M | ﹤0.01% |
193,392
+57,471
| +42% | +$1.35M |
|
|
SFBS
2005
ServisFirst Bancshares
SFBS
$4.9B
| $3.32M | ﹤0.01% |
84,912
| – | – |
|
2006
Glaukos
GKOS
$9.49B
| $3.24M | ﹤0.01% |
+49,908
| New | +$2.45M |
|
|
CUB
2007
DELISTED
Cubic Corporation
CUB
| $3.19M | ﹤0.01% |
43,676
+13,253
| +44% | +$949K |
|
|
LADR
2008
Ladder Capital
LADR
$1.24B
| $3.18M | ﹤0.01% |
187,539
| – | – |
|
|
SMAR
2009
DELISTED
Smartsheet Inc.
SMAR
| $3.13M | ﹤0.01% |
100,000
| – | – |
|
2010
Artesian Resources
ARTNA
$360M
| $3.09M | ﹤0.01% |
83,994
-66,680
| -44% | -$2.48M |
|
2011
Banco Bilbao Vizcaya Argentaria
BBVA
$142B
| $3.09M | ﹤0.01% |
490,133
| – | – |
|
2012
Greenlight Captial
GLRE
$579M
| $3.09M | ﹤0.01% |
249,056
-159,151
| -39% | -$2.1M |
|
2013
Andersons Inc
ANDE
$2.39B
| $3.05M | ﹤0.01% |
81,056
+50,031
| +161% | +$1.89M |
|
2014
Precigen
PGEN
$1.94B
| $2.97M | ﹤0.01% |
172,687
+160,321
| +1,296% | +$2.38M |
|
|
ANH
2015
DELISTED
Anworth Mortgage Asset Corporation
ANH
| $2.9M | ﹤0.01% |
626,405
-1,011,309
| -62% | -$4.96M |
|
|
XYF
2016
X Financial
XYF
$193M
| $2.85M | ﹤0.01% |
+105,000
| New | +$3.07M |
|
2017
Lexicon Pharmaceuticals
LXRX
$1.03B
| $2.84M | ﹤0.01% |
266,463
| – | – |
|
2018
Veeco
VECO
$2.62B
| $2.81M | ﹤0.01% |
274,055
| – | – |
|
2019
Lennar Class B
LEN.B
$19.9B
| $2.81M | ﹤0.01% |
76,654
| – | – |
|
2020
Atkore
ATKR
$2.41B
| $2.77M | ﹤0.01% |
104,550
| – | – |
|
|
ASRT
2021
DELISTED
Assertio
ASRT
| $2.76M | ﹤0.01% |
7,828
-2,646
| -25% | -$1.16M |
|
2022
Digimarc Corp
DMRC
$143M
| $2.74M | ﹤0.01% |
87,071
| – | – |
|
2023
MeiraGTx Holdings
MGTX
$1.08B
| $2.72M | ﹤0.01% |
200,000
-125,000
| -38% | -$1.35M |
|
2024
Griffon
GFF
$4.02B
| $2.69M | ﹤0.01% |
166,797
-132,230
| -44% | -$2.36M |
|
|
CRAY
2025
DELISTED
Cray, Inc.
CRAY
| $2.69M | ﹤0.01% |
125,251
| – | – |
|
Similar funds
Norges Bank's Q3 2018 Portfolio in Review
As of Q3 2018, Norges Bank held 2,209 positions worth $308B, up 5.7% from $291B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Norges Bank's Q3 2018 filing shows 74 new, 715 increased, 609 reduced and 67 closed positions. Its largest new stake was NIO: 19,750,000 shares worth $138M. The largest sale was GGP Inc., an estimated $606M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q3 2018 buy was NIO: 19,750,000 shares worth $138M.
- Norges Bank added most to Meta Platforms (Facebook) in Q3 2018, an estimated $203M increase.
- Norges Bank's biggest Q3 2018 reduction was Wells Fargo, cutting an estimated $206M.
- Norges Bank fully exited GGP Inc. in Q3 2018, selling an estimated $606M.
- Norges Bank's ten largest holdings make up 17% of its $308B portfolio in Q3 2018.
- Norges Bank opened 74 new positions and closed 67 in Q3 2018.
- Norges Bank's portfolio value rose 5.7% quarter-over-quarter to $308B.
Based on Norges Bank's 13F filing for Q3 2018, filed 9 Nov 2018.