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 | |
|---|---|---|---|---|---|---|
901
Delek US
DK
$4.16B
| $46.9M | 0.02% |
1,287,697
-30,760
| -2% | -$1.05M |
|
902
RB Global
RBA
$20.4B
| $46.9M | 0.02% |
1,380,261
| – | – |
|
903
Flowers Foods
FLO
$1.49B
| $46.8M | 0.02% |
2,194,470
| – | – |
|
|
NATI
904
DELISTED
National Instruments Corp
NATI
| $46.8M | 0.02% |
1,054,687
+48,393
| +5% | +$2.19M |
|
905
EastGroup Properties
EGP
$11.2B
| $46.3M | 0.02% |
415,108
| – | – |
|
906
Blackstone Mortgage Trust
BXMT
$2.45B
| $46.3M | 0.01% |
1,338,891
+29,112
| +2% | +$988K |
|
907
Cousins Properties
CUZ
$5.19B
| $46.1M | 0.01% |
1,194,360
| – | – |
|
|
CGC
908
Canopy Growth
CGC
$387M
| $45.8M | 0.01% |
105,807
-7,198
| -6% | -$3.15M |
|
|
SKX
909
DELISTED
Skechers
SKX
| $45.8M | 0.01% |
1,362,380
+60,654
| +5% | +$1.81M |
|
910
Hudbay
HBM
$10.1B
| $45.8M | 0.01% |
6,404,545
| – | – |
|
911
Semtech
SMTC
$11B
| $45.8M | 0.01% |
898,937
+21,829
| +2% | +$1.13M |
|
912
Ryder
R
$9.83B
| $45.7M | 0.01% |
737,175
| – | – |
|
913
Donaldson
DCI
$10.9B
| $45.6M | 0.01% |
911,437
+89,411
| +11% | +$4.32M |
|
914
Cable One
CABO
$227M
| $45.5M | 0.01% |
46,401
+1,177
| +3% | +$1.07M |
|
915
Mine Safety
MSA
$7.35B
| $45.4M | 0.01% |
439,032
+31,241
| +8% | +$3.15M |
|
|
GRUB
916
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $45.3M | 0.01% |
326,070
+44,194
| +16% | +$6.85M |
|
917
TriNet
TNET
$3.02B
| $45.3M | 0.01% |
757,743
-8,128
| -1% | -$429K |
|
918
Olin
OLN
$2.11B
| $45.2M | 0.01% |
1,955,288
| – | – |
|
919
Wolverine World Wide
WWW
$1.61B
| $45.2M | 0.01% |
1,265,882
| – | – |
|
|
HMSY
920
DELISTED
HMS Holdings Corp.
HMSY
| $45.2M | 0.01% |
1,525,301
| – | – |
|
|
UFS
921
DELISTED
DOMTAR CORPORATION (New)
UFS
| $45.1M | 0.01% |
908,689
+39,450
| +5% | +$1.88M |
|
922
Southern Copper
SCCO
$143B
| $45.1M | 0.01% |
1,225,853
| – | – |
|
|
ZAYO
923
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $45M | 0.01% |
1,584,198
| – | – |
|
|
HR
924
DELISTED
Healthcare Realty Trust Incorporated
HR
| $44.9M | 0.01% |
1,398,277
+20,000
| +1% | +$628K |
|
925
Nomad Foods
NOMD
$1.66B
| $44.9M | 0.01% |
2,194,823
+544,652
| +33% | +$10.5M |
|
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.