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 | |
|---|---|---|---|---|---|---|
976
Graphic Packaging
GPK
$3.17B
| $41.7M | 0.01% |
3,304,618
-498,525
| -13% | -$6.05M |
|
|
PRSP
977
DELISTED
Perspecta Inc. Common Stock
PRSP
| $41.7M | 0.01% |
2,061,804
| – | – |
|
|
BBBY
978
DELISTED
Bed Bath & Beyond Inc
BBBY
| $41.7M | 0.01% |
2,452,347
| – | – |
|
|
EQC
979
DELISTED
Equity Commonwealth
EQC
| $41.7M | 0.01% |
1,274,187
-60,278
| -5% | -$1.93M |
|
980
Zillow
Z
$7.79B
| $41.6M | 0.01% |
1,196,822
-34,000
| -3% | -$1.21M |
|
981
ASML
ASML
$626B
| $41.5M | 0.01% |
220,577
| – | – |
|
982
Cirrus Logic
CRUS
$6.53B
| $41.5M | 0.01% |
985,529
-36,195
| -4% | -$1.4M |
|
983
Brink's
BCO
$4.88B
| $41.4M | 0.01% |
548,708
+28,789
| +6% | +$2.14M |
|
|
WRI
984
DELISTED
Weingarten Realty Investors
WRI
| $41.3M | 0.01% |
1,407,741
| – | – |
|
|
UMPQ
985
DELISTED
Umpqua Holdings Corp
UMPQ
| $41.3M | 0.01% |
2,505,715
| – | – |
|
986
Columbia Sportswear
COLM
$3.04B
| $41.3M | 0.01% |
396,671
| – | – |
|
987
Flowserve
FLS
$9.71B
| $41.2M | 0.01% |
913,751
+32,201
| +4% | +$1.41M |
|
|
SWN
988
DELISTED
Southwestern Energy Company
SWN
| $41.2M | 0.01% |
8,787,717
| – | – |
|
989
Levi Strauss
LEVI
$9.44B
| $41.2M | 0.01% |
+1,750,000
| New | +$39.2M |
|
990
EnerSys
ENS
$6.78B
| $41.2M | 0.01% |
631,641
-13,783
| -2% | -$1.04M |
|
|
CIM
991
Chimera Investment
CIM
$1.04B
| $41.1M | 0.01% |
731,846
+18,705
| +3% | +$1.05M |
|
992
Spotify
SPOT
$103B
| $41.1M | 0.01% |
296,412
+55,127
| +23% | +$7.54M |
|
993
Bankunited
BKU
$3.37B
| $41M | 0.01% |
1,228,974
| – | – |
|
994
Integra LifeSciences
IART
$1.29B
| $41M | 0.01% |
735,936
+23,272
| +3% | +$1.19M |
|
995
Jefferies Financial Group
JEF
$12.6B
| $41M | 0.01% |
2,437,562
| – | – |
|
996
Hyatt Hotels
H
$16.4B
| $41M | 0.01% |
564,891
| – | – |
|
997
First Horizon
FHN
$12.2B
| $41M | 0.01% |
2,931,435
+67,024
| +2% | +$990K |
|
998
Vermilion Energy
VET
$1.82B
| $41M | 0.01% |
1,658,913
+145,113
| +10% | +$3.56M |
|
|
EFOR
999
Everforth Inc
EFOR
$1.17B
| $41M | 0.01% |
645,084
-15,297
| -2% | -$956K |
|
1000
Apple Hospitality REIT
APLE
$3.9B
| $40.9M | 0.01% |
2,509,064
+73,570
| +3% | +$1.18M |
|
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.