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 |
Alcon
ALC
|
+$602M |
| 2 |
Alexandria Real Estate Equities
ARE
|
+$488M |
| 3 |
Dow Inc
DOW
|
+$384M |
| 4 |
UBS Group
UBS
|
+$245M |
| 5 |
Regency Centers
REG
|
+$175M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameriprise Financial
AMP
|
+$280M |
| 2 |
Johnson Controls International
JCI
|
+$235M |
| 3 |
Linde
LIN
|
+$197M |
| 4 |
Baxter International
BAX
|
+$193M |
| 5 |
DuPont de Nemours
DD
|
+$140M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.05% |
| 2 | Financials | 16.91% |
| 3 | Healthcare | 13.48% |
| 4 | Consumer Discretionary | 11.5% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
726
AerCap
AER
$23.7B
| $64.8M | 0.02% |
1,245,290
| – | – |
|
727
Pentair
PNR
$10.4B
| $64.6M | 0.02% |
1,737,631
| – | – |
|
728
Bath & Body Works
BBWI
$4.06B
| $64.5M | 0.02% |
3,057,368
+13,217
| +0.4% | +$261K |
|
729
Owens Corning
OC
$11.2B
| $64.3M | 0.02% |
1,104,618
-40,764
| -4% | -$2.08M |
|
730
Assured Guaranty
AGO
$3.66B
| $64.2M | 0.02% |
1,526,265
| – | – |
|
731
Jabil
JBL
$33B
| $64.2M | 0.02% |
2,031,680
+72,690
| +4% | +$2.09M |
|
732
NOV
NOV
$6.93B
| $64.1M | 0.02% |
2,884,943
| – | – |
|
733
Howard Hughes
HHH
$3.81B
| $64.1M | 0.02% |
543,177
+163,210
| +43% | +$16.7M |
|
734
ACI Worldwide
ACIW
$5.83B
| $64.1M | 0.02% |
1,866,281
| – | – |
|
735
Hexcel
HXL
$7.79B
| $64M | 0.02% |
791,696
+5,749
| +0.7% | +$418K |
|
736
Royal Gold
RGLD
$16.8B
| $64M | 0.02% |
624,404
-34,710
| -5% | -$3.13M |
|
737
Portland General Electric
POR
$5.8B
| $63.9M | 0.02% |
1,180,302
-38,063
| -3% | -$2.01M |
|
738
Blackbaud
BLKB
$1.94B
| $63.4M | 0.02% |
759,680
| – | – |
|
|
ACC
739
DELISTED
American Campus Communities, Inc.
ACC
| $63.4M | 0.02% |
1,372,592
+25,000
| +2% | +$1.17M |
|
|
OPTU
740
Optimum Communications Inc
OPTU
$298M
| $63.3M | 0.02% |
2,601,174
+200,000
| +8% | +$4.75M |
|
|
COR
741
DELISTED
Coresite Realty Corporation
COR
| $63.3M | 0.02% |
549,606
+146,873
| +36% | +$16.7M |
|
|
TMX
742
DELISTED
Terminix Global Holdings, Inc.
TMX
| $63.1M | 0.02% |
1,211,708
| – | – |
|
|
AMED
743
DELISTED
Amedisys
AMED
| $63.1M | 0.02% |
519,851
-25,750
| -5% | -$3.06M |
|
744
Saic
SAIC
$4.95B
| $63.1M | 0.02% |
728,855
-68,026
| -9% | -$5.34M |
|
745
Emcor
EME
$35.2B
| $62.9M | 0.02% |
714,401
+8,804
| +1% | +$714K |
|
746
Graham Holdings Company
GHC
$5.1B
| $62.8M | 0.02% |
90,999
+1,034
| +1% | +$722K |
|
747
Wolfspeed
WOLF
$1.23B
| $62.7M | 0.02% |
1,116,805
| – | – |
|
|
GRA
748
DELISTED
W.R. Grace & Co.
GRA
| $62.7M | 0.02% |
823,795
-18,724
| -2% | -$1.4M |
|
749
Hubbell
HUBB
$25B
| $62.5M | 0.02% |
479,615
| – | – |
|
|
ZNGA
750
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $62.3M | 0.02% |
10,170,287
+165,562
| +2% | +$976K |
|
Similar funds
Norges Bank's Q2 2019 Portfolio in Review
As of Q2 2019, Norges Bank held 2,175 positions worth $324B, up 4.5% from $310B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Norges Bank's Q2 2019 filing shows 49 new, 658 increased, 482 reduced and 69 closed positions. Its largest new stake was Alcon: 10,263,150 shares worth $635M. The largest sale was Ameriprise Financial, an estimated $280M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2019 buy was Alcon: 10,263,150 shares worth $635M.
- Norges Bank added most to Alexandria Real Estate Equities in Q2 2019, an estimated $488M increase.
- Norges Bank's biggest Q2 2019 reduction was Ameriprise Financial, cutting an estimated $280M.
- Norges Bank fully exited Johnson Controls International in Q2 2019, selling an estimated $235M.
- Norges Bank's ten largest holdings make up 17% of its $324B portfolio in Q2 2019.
- Norges Bank opened 49 new positions and closed 69 in Q2 2019.
- Norges Bank's portfolio value rose 4.5% quarter-over-quarter to $324B.
Based on Norges Bank's 13F filing for Q2 2019, filed 9 Aug 2019.