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 | |
|---|---|---|---|---|---|---|
|
SRC
876
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $50.4M | 0.02% |
1,181,779
+175,000
| +17% | +$7.39M |
|
877
Commerce Bancshares
CBSH
$8.53B
| $50.4M | 0.02% |
1,188,407
| – | – |
|
878
NovoCure
NVCR
$1.73B
| $50.3M | 0.02% |
796,220
-82,615
| -9% | -$4.19M |
|
879
OneMain Financial
OMF
$7.2B
| $50.3M | 0.02% |
1,487,780
-160,000
| -10% | -$5.22M |
|
880
Wintrust Financial
WTFC
$10.8B
| $50.1M | 0.02% |
684,406
+178,867
| +35% | +$13.1M |
|
|
SNV
881
DELISTED
Synovus
SNV
| $50M | 0.02% |
1,429,817
| – | – |
|
882
Brady Corp
BRC
$4.44B
| $50M | 0.02% |
1,014,514
| – | – |
|
883
Ingevity
NGVT
$2.51B
| $49.9M | 0.02% |
474,366
| – | – |
|
884
Ziff Davis
ZD
$1.96B
| $49.8M | 0.02% |
643,948
| – | – |
|
885
Performance Food Group
PFGC
$18B
| $49.7M | 0.02% |
1,241,278
+24,709
| +2% | +$990K |
|
886
Credit Acceptance
CACC
$5.95B
| $49.7M | 0.02% |
102,657
-7,610
| -7% | -$3.62M |
|
887
Lincoln Electric
LECO
$14.2B
| $49.6M | 0.02% |
603,118
-33,383
| -5% | -$2.78M |
|
888
Penumbra
PEN
$12.7B
| $49.5M | 0.02% |
309,460
-221,371
| -42% | -$32M |
|
889
Huazhu Hotels Group
HTHT
$13.1B
| $49.3M | 0.02% |
1,360,538
+95,419
| +8% | +$3.57M |
|
890
Axalta
AXTA
$7.66B
| $49.2M | 0.02% |
1,653,185
+50,000
| +3% | +$1.33M |
|
891
nVent Electric
NVT
$24.9B
| $49.2M | 0.02% |
1,983,075
-35,211
| -2% | -$907K |
|
892
Telephone and Data Systems
TDS
$3.82B
| $49.1M | 0.02% |
1,616,372
| – | – |
|
893
Pebblebrook Hotel Trust
PEB
$2.15B
| $48.7M | 0.02% |
1,726,740
-40,171
| -2% | -$1.21M |
|
894
Helmerich & Payne
HP
$3.45B
| $48.3M | 0.01% |
954,607
| – | – |
|
|
PRSP
895
DELISTED
Perspecta Inc. Common Stock
PRSP
| $48.3M | 0.01% |
2,061,804
| – | – |
|
896
Flowserve
FLS
$9.71B
| $48.1M | 0.01% |
913,751
| – | – |
|
897
EastGroup Properties
EGP
$11.2B
| $48.1M | 0.01% |
415,108
| – | – |
|
898
Autoliv
ALV
$9.02B
| $48M | 0.01% |
680,637
| – | – |
|
|
IAA
899
DELISTED
IAA, Inc. Common Stock
IAA
| $47.7M | 0.01% |
+1,231,040
| New | +$47.7M |
|
|
LSI
900
DELISTED
Life Storage, Inc.
LSI
| $47.7M | 0.01% |
753,089
+28,787
| +4% | +$1.85M |
|
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.