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 | |
|---|---|---|---|---|---|---|
|
LLL
351
DELISTED
L3 Technologies, Inc.
LLL
| $154M | 0.05% |
745,762
| – | – |
|
352
Devon Energy
DVN
$52.1B
| $154M | 0.05% |
4,871,298
| – | – |
|
353
Hershey
HSY
$35.2B
| $153M | 0.05% |
1,329,561
| – | – |
|
354
Genuine Parts
GPC
$17.1B
| $152M | 0.05% |
1,354,453
-27,732
| -2% | -$2.87M |
|
355
McCormick & Company Non-Voting
MKC
$13.7B
| $151M | 0.05% |
2,008,570
+30,066
| +2% | +$2.03M |
|
356
Skyworks Solutions
SWKS
$9.37B
| $151M | 0.05% |
1,825,395
+12,238
| +0.7% | +$945K |
|
357
Sun Life Financial
SLF
$46B
| $150M | 0.05% |
3,913,477
-811,783
| -17% | -$29.8M |
|
|
WCG
358
DELISTED
Wellcare Health Plans, Inc.
WCG
| $150M | 0.05% |
554,455
-69,947
| -11% | -$18.1M |
|
|
MXIM
359
DELISTED
Maxim Integrated Products
MXIM
| $149M | 0.05% |
2,810,363
| – | – |
|
360
CoStar Group
CSGP
$11.7B
| $149M | 0.05% |
3,186,430
| – | – |
|
|
INXN
361
DELISTED
Interxion Holding N.V.
INXN
| $148M | 0.05% |
2,210,434
-286,606
| -11% | -$17.8M |
|
362
Logitech
LOGI
$14.7B
| $147M | 0.05% |
3,746,894
+230,840
| +7% | +$8.32M |
|
363
Western Digital
WDC
$188B
| $147M | 0.05% |
4,032,976
| – | – |
|
364
Veeva Systems
VEEV
$33.1B
| $146M | 0.05% |
1,153,747
+66,559
| +6% | +$7.51M |
|
365
Labcorp
LH
$25B
| $146M | 0.05% |
1,111,809
| – | – |
|
366
Credicorp
BAP
$31.8B
| $146M | 0.05% |
608,213
+150,674
| +33% | +$35.9M |
|
|
CTXS
367
DELISTED
Citrix Systems Inc
CTXS
| $145M | 0.05% |
1,458,033
+18,962
| +1% | +$1.97M |
|
368
Keysight
KEYS
$54.5B
| $145M | 0.05% |
1,662,254
-92,770
| -5% | -$7.2M |
|
369
Northern Trust
NTRS
$33.3B
| $145M | 0.05% |
1,599,903
| – | – |
|
370
Teva Pharmaceuticals
TEVA
$40.8B
| $144M | 0.05% |
9,210,016
-266,666
| -3% | -$4.7M |
|
371
Cardinal Health
CAH
$53.9B
| $144M | 0.05% |
2,997,424
| – | – |
|
372
Norwegian Cruise Line
NCLH
$8.51B
| $144M | 0.05% |
2,621,381
-477,293
| -15% | -$24.6M |
|
373
Healthpeak Properties
DOC
$15.1B
| $144M | 0.05% |
4,601,686
+1,873
| +0% | +$57.1K |
|
374
Principal Financial Group
PFG
$24.3B
| $144M | 0.05% |
2,859,125
| – | – |
|
375
Alexandria Real Estate Equities
ARE
$8.97B
| $143M | 0.05% |
1,003,652
+139,387
| +16% | +$18.4M |
|
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.