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 | |
|---|---|---|---|---|---|---|
|
SNV
876
DELISTED
Synovus
SNV
| $49.1M | 0.02% |
1,429,817
+240,212
| +20% | +$8.82M |
|
877
Commerce Bancshares
CBSH
$8.53B
| $49M | 0.02% |
1,188,407
+48,643
| +4% | +$2.08M |
|
|
ELLI
878
DELISTED
Ellie Mae Inc
ELLI
| $49M | 0.02% |
496,141
-61,035
| -11% | -$5.3M |
|
879
RenaissanceRe
RNR
$13.3B
| $48.8M | 0.02% |
340,204
+37,572
| +12% | +$5.26M |
|
880
Cullen/Frost Bankers
CFR
$10.3B
| $48.7M | 0.02% |
501,522
| – | – |
|
881
Watsco Inc
WSO
$12.7B
| $48.5M | 0.02% |
339,003
| – | – |
|
882
Littelfuse
LFUS
$11.2B
| $48.5M | 0.02% |
265,822
| – | – |
|
883
Ziff Davis
ZD
$1.96B
| $48.5M | 0.02% |
643,948
| – | – |
|
884
FirstCash
FCFS
$8.85B
| $48.3M | 0.02% |
558,833
-71,410
| -11% | -$5.96M |
|
|
ACB
885
Aurora Cannabis
ACB
$173M
| $48.3M | 0.02% |
44,476
-7,422
| -14% | -$6.64M |
|
886
Performance Food Group
PFGC
$18B
| $48.2M | 0.02% |
1,216,569
+61,590
| +5% | +$2.26M |
|
887
Strategic Education
STRA
$1.85B
| $48.1M | 0.02% |
366,398
-6,305
| -2% | -$768K |
|
888
Leggett & Platt
LEG
$1.34B
| $48.1M | 0.02% |
1,139,072
| – | – |
|
889
Guidewire Software
GWRE
$12.6B
| $47.9M | 0.02% |
493,155
+16,035
| +3% | +$1.43M |
|
890
AXIS Capital
AXS
$7.68B
| $47.9M | 0.02% |
874,445
+32,948
| +4% | +$1.83M |
|
891
Landstar System
LSTR
$5.93B
| $47.9M | 0.02% |
437,567
| – | – |
|
892
Texas Roadhouse
TXRH
$13.5B
| $47.7M | 0.02% |
766,362
+33,079
| +5% | +$2.07M |
|
893
Dolby
DLB
$5.51B
| $47.6M | 0.02% |
755,501
+31,584
| +4% | +$2.02M |
|
|
IRBT
894
DELISTED
iRobot
IRBT
| $47.5M | 0.02% |
403,477
| – | – |
|
895
Casey's General Stores
CASY
$32.2B
| $47.4M | 0.02% |
368,079
+7,717
| +2% | +$1.01M |
|
|
AAN.A
896
DELISTED
The Aaron's Company Inc Class A
AAN.A
| $47.3M | 0.02% |
899,421
-19,323
| -2% | -$1.02M |
|
897
WEX
WEX
$6.37B
| $47.1M | 0.02% |
245,527
+13,536
| +6% | +$2.29M |
|
898
Brady Corp
BRC
$4.44B
| $47.1M | 0.02% |
1,014,514
+20,759
| +2% | +$954K |
|
899
AGCO
AGCO
$7.15B
| $47M | 0.02% |
675,647
+85,866
| +15% | +$5.56M |
|
|
LSI
900
DELISTED
Life Storage, Inc.
LSI
| $47M | 0.02% |
724,302
| – | – |
|
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.