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 | |
|---|---|---|---|---|---|---|
801
Primerica
PRI
$9.98B
| $55.3M | 0.02% |
452,743
| – | – |
|
802
Brixmor Property Group
BRX
$9.67B
| $55.3M | 0.02% |
3,009,264
+1,070
| +0% | +$18.2K |
|
|
KW
803
DELISTED
Kennedy-Wilson Holdings
KW
| $55.2M | 0.02% |
2,582,931
| – | – |
|
|
HPP
804
Hudson Pacific Properties
HPP
$747M
| $55.1M | 0.02% |
228,536
+4,735
| +2% | +$1.08M |
|
805
Sinclair Inc
SBGI
$992M
| $55M | 0.02% |
1,430,614
| – | – |
|
806
Healthcare Realty
HR
$7.28B
| $55M | 0.02% |
1,925,220
+39,510
| +2% | +$1.1M |
|
807
General Dynamics
GD
$104B
| $55M | 0.02% |
+325,005
| New | +$54.8M |
|
808
Arrow Electronics
ARW
$11.1B
| $55M | 0.02% |
713,698
| – | – |
|
809
Kinross Gold
KGC
$27.4B
| $55M | 0.02% |
15,975,552
+1,171,505
| +8% | +$3.91M |
|
810
ITT
ITT
$17.5B
| $54.9M | 0.02% |
946,709
+21,244
| +2% | +$1.16M |
|
811
Pebblebrook Hotel Trust
PEB
$2.15B
| $54.9M | 0.02% |
1,766,911
+267,755
| +18% | +$8.44M |
|
|
CONE
812
DELISTED
CyrusOne Inc Common Stock
CONE
| $54.7M | 0.02% |
1,043,686
| – | – |
|
|
CYBR
813
DELISTED
CyberArk
CYBR
| $54.6M | 0.02% |
458,933
-16,560
| -3% | -$1.58M |
|
814
Grand Canyon Education
LOPE
$3.79B
| $54.6M | 0.02% |
476,929
| – | – |
|
815
nVent Electric
NVT
$24.9B
| $54.5M | 0.02% |
2,018,286
| – | – |
|
816
Quanta Services
PWR
$100B
| $54.4M | 0.02% |
1,442,550
| – | – |
|
817
Hexcel
HXL
$7.79B
| $54.4M | 0.02% |
785,947
+14,496
| +2% | +$975K |
|
818
BJs Wholesale Club
BJ
$12.5B
| $54.3M | 0.02% |
1,981,928
+511,685
| +35% | +$13.1M |
|
819
AptarGroup
ATR
$8.55B
| $54.1M | 0.02% |
508,732
| – | – |
|
820
Monolithic Power Systems
MPWR
$70.1B
| $54.1M | 0.02% |
399,238
+24,307
| +6% | +$3.19M |
|
|
RP
821
DELISTED
RealPage, Inc.
RP
| $54M | 0.02% |
889,993
-120,579
| -12% | -$6.91M |
|
822
Owens Corning
OC
$11.2B
| $54M | 0.02% |
1,145,382
-59,516
| -5% | -$2.91M |
|
823
American Eagle Outfitters
AEO
$2.88B
| $53.9M | 0.02% |
2,432,475
| – | – |
|
824
Avnet
AVT
$7.29B
| $53.7M | 0.02% |
1,238,834
-45,372
| -4% | -$1.91M |
|
|
ONC
825
BeOne Medicines Ltd
ONC
$32.8B
| $53.7M | 0.02% |
406,908
+66,122
| +19% | +$8.92M |
|
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.