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 |
Walt Disney
DIS
|
+$382M |
| 2 |
Alibaba
BABA
|
+$346M |
| 3 |
Meta Platforms (Facebook)
META
|
+$240M |
| 4 |
Citigroup
C
|
+$223M |
| 5 |
Procter & Gamble
PG
|
+$194M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$631M |
| 2 |
Linde
LIN
|
+$310M |
| 3 |
Alcoa
AA
|
+$208M |
| 4 |
Blackrock
BLK
|
+$158M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
301
Microchip Technology
MCHP
$40.7B
| $182M | 0.06% |
4,376,744
+51,364
| +1% | +$2.13M |
|
302
International Paper
IP
$21.9B
| $181M | 0.06% |
4,139,640
| – | – |
|
303
MSCI
MSCI
$42B
| $181M | 0.06% |
907,836
-28,199
| -3% | -$4.91M |
|
304
Citizens Financial Group
CFG
$30.3B
| $180M | 0.06% |
5,550,230
+1,230,000
| +28% | +$42.6M |
|
305
Deutsche Bank
DB
$68.9B
| $180M | 0.06% |
22,069,070
+1,756,782
| +9% | +$15.4M |
|
306
Travelers Companies
TRV
$79.1B
| $179M | 0.06% |
1,307,568
+109,931
| +9% | +$14.1M |
|
307
Nucor
NUE
$58.5B
| $179M | 0.06% |
3,067,115
-341,875
| -10% | -$20M |
|
308
CGI
GIB
$15.2B
| $179M | 0.06% |
2,596,025
+15,512
| +0.6% | +$1.02M |
|
309
L3Harris
LHX
$51.6B
| $179M | 0.06% |
1,117,767
| – | – |
|
310
Hewlett Packard
HPE
$62.8B
| $178M | 0.06% |
11,567,627
-67,401
| -0.6% | -$1.04M |
|
311
Synopsys
SNPS
$73.5B
| $178M | 0.06% |
1,543,854
-43,235
| -3% | -$4.28M |
|
312
Fox Class B
FOX
$21.8B
| $177M | 0.06% |
+4,938,483
| New | +$188M |
|
313
Magna International
MGA
$18.3B
| $177M | 0.06% |
3,635,434
+52,161
| +1% | +$2.63M |
|
314
CBRE Group
CBRE
$42.7B
| $177M | 0.06% |
3,569,582
+349,579
| +11% | +$16.4M |
|
315
Teck Resources
TECK
$29.5B
| $175M | 0.06% |
7,554,372
-5,697,249
| -43% | -$128M |
|
|
CERN
316
DELISTED
Cerner Corp
CERN
| $174M | 0.06% |
3,042,364
+71,724
| +2% | +$3.99M |
|
317
DXC Technology
DXC
$1.84B
| $174M | 0.06% |
2,704,548
-68,505
| -2% | -$4.38M |
|
|
ANSS
318
DELISTED
Ansys
ANSS
| $174M | 0.06% |
950,956
-50,948
| -5% | -$8.62M |
|
319
Waters Corp
WAT
$37B
| $174M | 0.06% |
689,902
| – | – |
|
320
Ball Corp
BALL
$17.2B
| $173M | 0.06% |
2,984,182
| – | – |
|
321
Chipotle Mexican Grill
CMG
$47.6B
| $172M | 0.06% |
12,099,650
| – | – |
|
322
Newmont
NEM
$98.3B
| $172M | 0.06% |
4,804,777
+1,007,153
| +27% | +$34.1M |
|
|
PPL
323
PPL Corp
PPL
$26.7B
| $171M | 0.06% |
5,381,026
| – | – |
|
324
SBA Communications
SBAC
$18.9B
| $171M | 0.06% |
855,397
| – | – |
|
325
Essex Property Trust
ESS
$18.3B
| $169M | 0.05% |
582,579
+284
| +0% | +$77.5K |
|
Similar funds
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.