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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+14.99%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$310B
AUM Growth
+$40.7B
Cap. Flow
+$3.72B
Cap. Flow %
1.2%
Top 10 Hldgs %
16.68%
Holding
2,169
New
45
Increased
778
Reduced
400
Closed
43

Top Buys

Rank Stock Value
1
DIS icon
Walt Disney
DIS
+$382M
2
BABA icon
Alibaba
BABA
+$346M
3
META icon
Meta Platforms (Facebook)
META
+$240M
4
C icon
Citigroup
C
+$223M
5
PG icon
Procter & Gamble
PG
+$194M

Top Sells

Rank Stock Value
1
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
+$631M
2
LIN icon
Linde
LIN
+$310M
3
AA icon
Alcoa
AA
+$208M
4
BLK icon
Blackrock
BLK
+$158M
5
ORCL icon
Oracle
ORCL
+$157M

Sector Composition

Rank Sector Weight
1 Technology 17.87%
2 Financials 16.34%
3 Healthcare 13.72%
4 Consumer Discretionary 11.63%
5 Communication Services 9.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MTB icon
251
M&T Bank
MTB
$35.9B
$230M 0.07%
1,462,295
+245,177
+20% +$40.3M
MCK icon
252
McKesson
MCK
$100B
$229M 0.07%
1,953,397
– –
SYF icon
253
Synchrony
SYF
$24.8B
$228M 0.07%
7,160,462
-31,416
-0.4% -$945K
KLAC icon
254
KLA
KLAC
$242B
$228M 0.07%
19,121,140
+1,508,010
+9% +$16.2M
IQV icon
255
IQVIA
IQV
$38.5B
$226M 0.07%
1,569,043
+496,427
+46% +$66.2M
LNC icon
256
Lincoln National
LNC
$8.77B
$226M 0.07%
3,843,074
– –
AMD icon
257
Advanced Micro Devices
AMD
$795B
$225M 0.07%
8,828,982
-4,845,173
-35% -$110M
ALL icon
258
Allstate
ALL
$68.6B
$224M 0.07%
2,376,349
+88,464
+4% +$8M
RACE icon
259
Ferrari
RACE
$69.2B
$223M 0.07%
1,658,943
-221,278
-12% -$27.1M
KHC icon
260
Kraft Heinz
KHC
$30.9B
$221M 0.07%
6,775,811
-1,494,924
-18% -$60.9M
VRSN icon
261
VeriSign
VRSN
$26.2B
$221M 0.07%
1,218,075
-39,318
-3% -$6.75M
VTR icon
262
Ventas
VTR
$47.7B
$220M 0.07%
3,441,559
+68,836
+2% +$4.3M
TCOM icon
263
Trip.com Group
TCOM
$29.5B
$219M 0.07%
5,012,886
+543,085
+12% +$19.1M
PEG icon
264
Public Service Enterprise Group
PEG
$38.5B
$217M 0.07%
3,656,890
+216,790
+6% +$12.1M
CCL icon
265
Carnival Corporation Ltd
CCL
$37.9B
$216M 0.07%
4,257,370
– –
NTAP icon
266
NetApp
NTAP
$34.8B
$216M 0.07%
3,111,036
-361,239
-10% -$23.3M
HLT icon
267
Hilton Worldwide
HLT
$71.7B
$214M 0.07%
2,576,583
– –
RCL icon
268
Royal Caribbean
RCL
$85.1B
$213M 0.07%
1,856,133
+184,158
+11% +$20.9M
O icon
269
Realty Income
O
$59.4B
$212M 0.07%
2,977,418
+175,899
+6% +$11.7M
CNC icon
270
Centene
CNC
$30.6B
$210M 0.07%
3,960,978
-303,700
-7% -$18.4M
WTW icon
271
Willis Towers Watson
WTW
$31.7B
$208M 0.07%
1,185,825
– –
FITB
272
Fifth Third Bancorp
FITB
$51.3B
$207M 0.07%
8,196,701
+1,350,590
+20% +$36M
GPN icon
273
Global Payments
GPN
$23.2B
$207M 0.07%
1,514,057
+240,484
+19% +$29.2M
CPRT icon
274
Copart
CPRT
$27B
$202M 0.07%
13,349,056
-133,620
-1% -$1.82M
TSN icon
275
Tyson Foods
TSN
$21.2B
$202M 0.07%
2,904,088
+96,332
+3% +$5.96M
9 10
11
12 13

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CIM
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Norges Bank's Q1 2019 Portfolio in Review

As of Q1 2019, Norges Bank held 2,169 positions worth $310B, up 15% from $269B the previous quarter. Its ten largest holdings account for 17% of the portfolio.

Trading was light in Q1 2019: portfolio turnover was 4.1%. Norges Bank opened 45 new positions and exited 43, leaving the 2,169-position portfolio largely intact.

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 Q1 2019 buy was Fox Class B: 4,938,483 shares worth $177M.
  • Norges Bank added most to Walt Disney in Q1 2019, an estimated $382M increase.
  • Norges Bank's biggest Q1 2019 reduction was Linde, cutting an estimated $310M.
  • Norges Bank fully exited Twenty-First Century Fox, Inc. Class B in Q1 2019, selling an estimated $631M.
  • Norges Bank's ten largest holdings make up 17% of its $310B portfolio in Q1 2019.
  • Norges Bank opened 45 new positions and closed 43 in Q1 2019.
  • Norges Bank's portfolio value rose 15% quarter-over-quarter to $310B.

Based on Norges Bank's 13F filing for Q1 2019, filed 9 May 2019.