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 | |
|---|---|---|---|---|---|---|
1026
Q2 Holdings
QTWO
$3.8B
| $39.2M | 0.01% |
566,595
+45,534
| +9% | +$2.84M |
|
|
LOGM
1027
DELISTED
LogMein, Inc.
LOGM
| $39.2M | 0.01% |
489,288
+24,489
| +5% | +$2.09M |
|
|
PSB
1028
DELISTED
PS Business Parks, Inc.
PSB
| $39.2M | 0.01% |
249,656
| – | – |
|
1029
CNX Resources
CNX
$5.3B
| $39.1M | 0.01% |
3,633,820
| – | – |
|
1030
Applied Industrial Technologies
AIT
$12.8B
| $38.9M | 0.01% |
654,198
-180,959
| -22% | -$10.5M |
|
1031
Teladoc Health
TDOC
$1.22B
| $38.8M | 0.01% |
698,434
+50,620
| +8% | +$3.09M |
|
|
BCPC
1032
Balchem Corp
BCPC
$5.38B
| $38.7M | 0.01% |
417,127
-12,262
| -3% | -$1.06M |
|
1033
Timken Company
TKR
$9.56B
| $38.7M | 0.01% |
886,875
| – | – |
|
1034
Emergent Biosolutions
EBS
$373M
| $38.7M | 0.01% |
765,714
-70,685
| -8% | -$4.17M |
|
|
CZR
1035
DELISTED
Caesars Entertainment Corporation
CZR
| $38.7M | 0.01% |
4,451,235
-1,100,000
| -20% | -$9.54M |
|
|
EV
1036
DELISTED
Eaton Vance Corp.
EV
| $38.7M | 0.01% |
959,175
| – | – |
|
1037
Myriad Genetics
MYGN
$270M
| $38.6M | 0.01% |
1,162,812
| – | – |
|
1038
GrafTech
EAF
$175M
| $38.5M | 0.01% |
301,113
-196,328
| -39% | -$26.1M |
|
1039
Tenet Healthcare
THC
$20.5B
| $38.5M | 0.01% |
1,334,972
-36,136
| -3% | -$892K |
|
1040
Webster Financial
WBS
$12.5B
| $38.5M | 0.01% |
759,786
+18,165
| +2% | +$985K |
|
1041
Ashland
ASH
$3.33B
| $38.4M | 0.01% |
491,538
+60,165
| +14% | +$4.63M |
|
1042
NETSCOUT
NTCT
$2.96B
| $38.4M | 0.01% |
1,367,277
| – | – |
|
1043
Urban Outfitters
URBN
$6.35B
| $38.1M | 0.01% |
1,286,520
| – | – |
|
1044
First Hawaiian
FHB
$3.38B
| $38.1M | 0.01% |
1,463,447
+4,457
| +0.3% | +$115K |
|
1045
Sprouts Farmers Market
SFM
$8.13B
| $38.1M | 0.01% |
1,767,946
| – | – |
|
|
TVPT
1046
DELISTED
Travelport Worldwide Limited
TVPT
| $38M | 0.01% |
2,418,275
| – | – |
|
1047
Antero Resources
AR
$11.1B
| $37.9M | 0.01% |
4,294,737
| – | – |
|
1048
Merit Medical Systems
MMSI
$5.08B
| $37.9M | 0.01% |
612,574
| – | – |
|
1049
Evertec
EVTC
$1.88B
| $37.8M | 0.01% |
1,360,424
-34,674
| -2% | -$980K |
|
|
GWR
1050
DELISTED
Genesee & Wyoming Inc.
GWR
| $37.8M | 0.01% |
434,077
+59,142
| +16% | +$4.8M |
|
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.