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 |
Linde
LIN
|
+$2.66B |
| 2 |
Cigna
CI
|
+$285M |
| 3 |
Boston Properties
BXP
|
+$242M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$242M |
| 5 |
Aptiv
APTV
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$646M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$543M |
| 3 |
PX
Praxair Inc
PX
|
+$305M |
| 4 |
COL
Rockwell Collins
COL
|
+$240M |
| 5 |
ANDV
Andeavor
ANDV
|
+$222M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.08% |
| 2 | Financials | 16.89% |
| 3 | Healthcare | 14.43% |
| 4 | Consumer Discretionary | 11.2% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
TD Synnex
SNX
$20.4B
| $44.4M | 0.02% |
1,099,030
+432,236
| +65% | +$17.1M |
|
827
Perrigo
PRGO
$1.4B
| $44.4M | 0.02% |
1,145,461
-42,372
| -4% | -$2.69M |
|
828
Primerica
PRI
$9.98B
| $44.2M | 0.02% |
452,743
| – | – |
|
829
Hexcel
HXL
$7.79B
| $44.2M | 0.02% |
771,451
| – | – |
|
830
Brixmor Property Group
BRX
$9.67B
| $44.2M | 0.02% |
3,008,194
+406,658
| +16% | +$6.41M |
|
831
Cullen/Frost Bankers
CFR
$10.4B
| $44.1M | 0.02% |
501,522
+39,838
| +9% | +$3.88M |
|
|
SGEN
832
DELISTED
Seagen Inc. Common Stock
SGEN
| $44.1M | 0.02% |
778,011
-38,221
| -5% | -$2.4M |
|
833
Chemed
CHE
$7.07B
| $43.9M | 0.02% |
154,963
+6,866
| +5% | +$2.07M |
|
834
Highwoods Properties
HIW
$3.65B
| $43.9M | 0.02% |
1,133,570
| – | – |
|
|
MFGP
835
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
| $43.8M | 0.02% |
2,105,465
| – | – |
|
836
Globus Medical
GMED
$10.7B
| $43.8M | 0.02% |
1,012,935
| – | – |
|
|
BLUE
837
DELISTED
bluebird bio
BLUE
| $43.8M | 0.02% |
34,098
+1,769
| +5% | +$2.71M |
|
838
Texas Roadhouse
TXRH
$13.5B
| $43.8M | 0.02% |
733,283
| – | – |
|
839
Autohome
ATHM
$2.67B
| $43.7M | 0.02% |
558,919
+55,944
| +11% | +$4.22M |
|
840
Monolithic Power Systems
MPWR
$70.1B
| $43.6M | 0.02% |
374,931
+8,568
| +2% | +$1.03M |
|
841
AXIS Capital
AXS
$7.68B
| $43.5M | 0.02% |
841,497
+109,334
| +15% | +$5.98M |
|
842
Quanta Services
PWR
$100B
| $43.4M | 0.02% |
1,442,550
+51,453
| +4% | +$1.66M |
|
843
Euronet Worldwide
EEFT
$2.72B
| $43.3M | 0.02% |
423,351
| – | – |
|
|
GRUB
844
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $43.3M | 0.02% |
281,876
+17,160
| +6% | +$3.22M |
|
845
Brady Corp
BRC
$4.44B
| $43.2M | 0.02% |
993,755
| – | – |
|
|
HMSY
846
DELISTED
HMS Holdings Corp.
HMSY
| $42.9M | 0.02% |
1,525,301
| – | – |
|
847
Delek US
DK
$4.16B
| $42.9M | 0.02% |
1,318,457
+91,063
| +7% | +$3.44M |
|
848
Twilio
TWLO
$30B
| $42.8M | 0.02% |
479,458
+48,810
| +11% | +$3.97M |
|
849
Howmet Aerospace
HWM
$113B
| $42.8M | 0.02% |
3,306,446
+198,667
| +6% | +$3.1M |
|
850
Planet Fitness
PLNT
$4.42B
| $42.7M | 0.02% |
797,243
+77,178
| +11% | +$3.96M |
|
Similar funds
Norges Bank's Q4 2018 Portfolio in Review
As of Q4 2018, Norges Bank held 2,178 positions worth $269B, down 13% from $308B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Trading was light in Q4 2018: portfolio turnover was 4.1%. Norges Bank opened 36 new positions and exited 54, leaving the 2,178-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q4 2018 buy was Linde: 16,803,065 shares worth $2.62B.
- Norges Bank added most to Cigna in Q4 2018, an estimated $285M increase.
- Norges Bank's biggest Q4 2018 reduction was Boston Scientific, cutting an estimated $168M.
- Norges Bank fully exited Aetna Inc in Q4 2018, selling an estimated $646M.
- Norges Bank's ten largest holdings make up 16% of its $269B portfolio in Q4 2018.
- Norges Bank opened 36 new positions and closed 54 in Q4 2018.
- Norges Bank's portfolio value fell 13% quarter-over-quarter to $269B.
Based on Norges Bank's 13F filing for Q4 2018, filed 8 Feb 2019.