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 | |
|---|---|---|---|---|---|---|
|
KL
551
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $86.9M | 0.03% |
2,857,970
-64,063
| -2% | -$2.03M |
|
552
Cboe Global Markets
CBOE
$32.5B
| $86.7M | 0.03% |
908,331
| – | – |
|
553
Etsy
ETSY
$7.75B
| $86.7M | 0.03% |
1,289,393
+141,558
| +12% | +$8.45M |
|
|
LSXMA
554
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $86.3M | 0.03% |
3,129,022
| – | – |
|
555
Dell
DELL
$262B
| $85.8M | 0.03% |
2,882,944
+36,809
| +1% | +$970K |
|
|
FDC
556
DELISTED
First Data Corporation
FDC
| $85.7M | 0.03% |
3,262,355
-3,504,665
| -52% | -$83.2M |
|
557
Iron Mountain
IRM
$36.4B
| $85M | 0.03% |
2,397,844
+443,369
| +23% | +$15.7M |
|
558
Invitation Homes
INVH
$17.7B
| $84.5M | 0.03% |
3,473,352
| – | – |
|
|
ADSW
559
DELISTED
Advanced Disposal Services Inc
ADSW
| $84.3M | 0.03% |
3,010,995
+123,217
| +4% | +$3.2M |
|
|
Y
560
DELISTED
Alleghany Corp
Y
| $84.1M | 0.03% |
137,383
+76
| +0.1% | +$47.5K |
|
561
Molson Coors Class B
TAP
$7.79B
| $84.1M | 0.03% |
1,409,383
+344,774
| +32% | +$21.3M |
|
|
WUBA
562
DELISTED
58.com Inc
WUBA
| $84M | 0.03% |
1,279,529
+251,278
| +24% | +$15.8M |
|
563
Camden Property Trust
CPT
$11B
| $84M | 0.03% |
827,389
+145,059
| +21% | +$13.9M |
|
|
ULTI
564
DELISTED
Ultimate Software Group Inc
ULTI
| $83.8M | 0.03% |
253,815
+16,414
| +7% | +$5.03M |
|
|
GAP
565
The Gap Inc
GAP
$7.23B
| $83.7M | 0.03% |
3,196,683
| – | – |
|
566
Voya Financial
VOYA
$9.01B
| $83.7M | 0.03% |
1,674,431
| – | – |
|
567
BorgWarner
BWA
$13.1B
| $82.8M | 0.03% |
2,449,505
| – | – |
|
568
American Financial Group
AFG
$11.8B
| $82.6M | 0.03% |
859,038
| – | – |
|
|
VIAB
569
DELISTED
Viacom Inc. Class B
VIAB
| $82.5M | 0.03% |
2,939,470
| – | – |
|
570
Petrobras
PBR
$125B
| $82.4M | 0.03% |
5,177,390
+1,300,000
| +34% | +$20.6M |
|
571
Amdocs
DOX
$5.92B
| $82.4M | 0.03% |
1,522,773
| – | – |
|
572
IPG Photonics
IPGP
$3.61B
| $82.2M | 0.03% |
541,814
-61,289
| -10% | -$8.68M |
|
|
GG
573
DELISTED
Goldcorp Inc
GG
| $82.2M | 0.03% |
7,178,827
+969,559
| +16% | +$10.4M |
|
574
Revvity
RVTY
$12.6B
| $81.9M | 0.03% |
850,407
+3,412
| +0.4% | +$307K |
|
575
US Foods
USFD
$22.2B
| $81.9M | 0.03% |
2,345,512
| – | – |
|
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.