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 | |
|---|---|---|---|---|---|---|
851
Macerich
MAC
$7.33B
| $51.7M | 0.02% |
1,543,425
| – | – |
|
852
Crane NXT
CXT
$2.99B
| $51.7M | 0.02% |
1,782,982
| – | – |
|
853
Unifirst Corp
UNF
$5.3B
| $51.6M | 0.02% |
273,737
| – | – |
|
854
Under Armour
UAA
$2.84B
| $51.6M | 0.02% |
2,034,101
| – | – |
|
855
White Mountains Insurance
WTM
$5.2B
| $51.5M | 0.02% |
50,381
+18,997
| +61% | +$18.3M |
|
|
CZR
856
DELISTED
Caesars Entertainment Corporation
CZR
| $51.4M | 0.02% |
4,348,143
-103,092
| -2% | -$977K |
|
857
Generac Holdings
GNRC
$11.6B
| $51.4M | 0.02% |
740,346
+37,218
| +5% | +$2.18M |
|
858
TriNet
TNET
$3.02B
| $51.4M | 0.02% |
757,743
| – | – |
|
859
Herbalife
HLF
$1.29B
| $51.3M | 0.02% |
1,200,741
+18,392
| +2% | +$871K |
|
860
AXIS Capital
AXS
$7.68B
| $51.3M | 0.02% |
860,246
-14,199
| -2% | -$826K |
|
|
GRUB
861
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $51.3M | 0.02% |
328,705
+2,635
| +0.8% | +$359K |
|
862
TD Synnex
SNX
$20.4B
| $51.2M | 0.02% |
1,040,878
-58,152
| -5% | -$2.89M |
|
863
Regal Rexnord
RRX
$13.7B
| $51.2M | 0.02% |
626,003
-57,289
| -8% | -$4.61M |
|
864
WEX
WEX
$6.37B
| $51.1M | 0.02% |
245,527
| – | – |
|
865
Flowers Foods
FLO
$1.49B
| $51.1M | 0.02% |
2,194,470
| – | – |
|
866
Arrow Electronics
ARW
$11.1B
| $50.9M | 0.02% |
713,698
| – | – |
|
867
ICU Medical
ICUI
$4.21B
| $50.8M | 0.02% |
201,763
+20,711
| +11% | +$4.8M |
|
868
Associated Banc-Corp
ASB
$5.83B
| $50.8M | 0.02% |
2,404,256
+552,631
| +30% | +$12M |
|
869
Highwoods Properties
HIW
$3.65B
| $50.8M | 0.02% |
1,229,936
| – | – |
|
870
Coty
COTY
$2.42B
| $50.7M | 0.02% |
3,781,226
-1,317,906
| -26% | -$16.2M |
|
871
PBF Energy
PBF
$8.57B
| $50.7M | 0.02% |
1,618,341
| – | – |
|
872
Glaukos
GKOS
$9.83B
| $50.6M | 0.02% |
670,737
+328,728
| +96% | +$23.6M |
|
873
Blackstone Mortgage Trust
BXMT
$2.45B
| $50.5M | 0.02% |
1,418,891
+80,000
| +6% | +$2.85M |
|
|
DNKN
874
DELISTED
Dunkin' Brands Group, Inc.
DNKN
| $50.5M | 0.02% |
633,463
+41,641
| +7% | +$3.17M |
|
|
ONC
875
BeOne Medicines Ltd
ONC
$32.8B
| $50.4M | 0.02% |
406,908
| – | – |
|
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.