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 | |
|---|---|---|---|---|---|---|
1001
Mercury Systems
MRCY
$5.83B
| $41.2M | 0.01% |
585,571
+120,000
| +26% | +$8.33M |
|
1002
Progress Software
PRGS
$1.66B
| $41.2M | 0.01% |
944,229
| – | – |
|
|
SKX
1003
DELISTED
Skechers
SKX
| $41.2M | 0.01% |
1,307,082
-55,298
| -4% | -$1.71M |
|
1004
Texas Roadhouse
TXRH
$13.5B
| $41.1M | 0.01% |
766,362
| – | – |
|
1005
American Eagle Outfitters
AEO
$2.88B
| $41.1M | 0.01% |
2,432,475
| – | – |
|
|
CMBT
1006
CMB.TECH NV
CMBT
$4.69B
| $40.8M | 0.01% |
4,347,876
| – | – |
|
1007
Churchill Downs
CHDN
$5.88B
| $40.8M | 0.01% |
708,732
| – | – |
|
1008
First Citizens BancShares
FCNCA
$24.9B
| $40.5M | 0.01% |
89,963
| – | – |
|
|
SF
1009
Stifel
SF
$12.6B
| $40.5M | 0.01% |
1,542,089
| – | – |
|
1010
HealthEquity
HQY
$8.41B
| $40.4M | 0.01% |
618,298
+67,017
| +12% | +$4.66M |
|
1011
FNB Corp
FNB
$6.73B
| $40.3M | 0.01% |
3,426,836
| – | – |
|
1012
RB Global
RBA
$20.4B
| $40.2M | 0.01% |
1,207,006
-173,255
| -13% | -$5.93M |
|
1013
Federated Hermes
FHI
$4.55B
| $40M | 0.01% |
1,232,062
| – | – |
|
1014
Tradeweb Markets
TW
$21.4B
| $40M | 0.01% |
+912,897
| New | +$38.1M |
|
1015
Integra LifeSciences
IART
$1.29B
| $40M | 0.01% |
716,042
-19,894
| -3% | -$1.02M |
|
1016
Boston Beer
SAM
$1.91B
| $40M | 0.01% |
105,816
+8,705
| +9% | +$2.76M |
|
1017
Petrobras Class A
PBR.A
$111B
| $39.9M | 0.01% |
2,812,665
+400,000
| +17% | +$5.5M |
|
|
NUAN
1018
DELISTED
Nuance Communications, Inc.
NUAN
| $39.9M | 0.01% |
2,886,284
| – | – |
|
|
WCC
1019
WESCO International
WCC
$16.7B
| $39.9M | 0.01% |
787,559
| – | – |
|
1020
Evercore
EVR
$12.4B
| $39.8M | 0.01% |
449,402
| – | – |
|
1021
Algonquin Power & Utilities
AQN
$4.49B
| $39.8M | 0.01% |
3,276,898
+75,515
| +2% | +$883K |
|
1022
Apple Hospitality REIT
APLE
$3.9B
| $39.8M | 0.01% |
2,509,064
| – | – |
|
1023
Darling Ingredients
DAR
$9.64B
| $39.7M | 0.01% |
1,997,858
+110,928
| +6% | +$2.27M |
|
|
SUM
1024
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| $39.7M | 0.01% |
2,098,768
+731,032
| +53% | +$11.6M |
|
1025
Kirby Corp
KEX
$7.01B
| $39.7M | 0.01% |
502,069
+25,246
| +5% | +$2.03M |
|
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.