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 |
Linde
LIN
|
+$2.66B |
| 2 |
Cigna
CI
|
+$285M |
| 3 |
Boston Properties
BXP
|
+$242M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$242M |
| 5 |
Aptiv
APTV
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$646M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$543M |
| 3 |
PX
Praxair Inc
PX
|
+$305M |
| 4 |
COL
Rockwell Collins
COL
|
+$240M |
| 5 |
ANDV
Andeavor
ANDV
|
+$222M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.08% |
| 2 | Financials | 16.89% |
| 3 | Healthcare | 14.43% |
| 4 | Consumer Discretionary | 11.2% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PBCT
1076
DELISTED
People's United Financial Inc
PBCT
| $32M | 0.01% |
2,217,308
| – | – |
|
1077
Ligand Pharmaceuticals
LGND
$5.76B
| $32M | 0.01% |
377,886
+20,864
| +6% | +$2.22M |
|
1078
Kennametal
KMT
$2.59B
| $32M | 0.01% |
960,299
+115,387
| +14% | +$4.38M |
|
1079
Vermilion Energy
VET
$1.82B
| $31.9M | 0.01% |
1,513,800
+389,955
| +35% | +$10.1M |
|
1080
Alaska Air
ALK
$5.29B
| $31.9M | 0.01% |
523,712
| – | – |
|
1081
BHP
BHP
$215B
| $31.8M | 0.01% |
739,174
| – | – |
|
|
WWE
1082
DELISTED
World Wrestling Entertainment
WWE
| $31.7M | 0.01% |
424,408
+309,604
| +270% | +$23.3M |
|
1083
Old National Bancorp
ONB
$10.2B
| $31.7M | 0.01% |
2,057,340
-159,758
| -7% | -$2.85M |
|
1084
Qualys
QLYS
$5.1B
| $31.7M | 0.01% |
423,839
| – | – |
|
1085
Alkermes
ALKS
$8.22B
| $31.6M | 0.01% |
1,072,314
| – | – |
|
1086
Morningstar
MORN
$7.22B
| $31.6M | 0.01% |
287,802
| – | – |
|
|
BPYU
1087
DELISTED
Brookfield Property REIT Inc. Class A Common Stock
BPYU
| $31.6M | 0.01% |
1,963,239
| – | – |
|
1088
Kulicke & Soffa
KLIC
$4.67B
| $31.4M | 0.01% |
1,549,464
-109,052
| -7% | -$2.26M |
|
1089
ScottsMiracle-Gro
SMG
$3.82B
| $31.3M | 0.01% |
509,925
| – | – |
|
1090
STAG Industrial
STAG
$7.38B
| $31.3M | 0.01% |
1,259,132
+153,365
| +14% | +$4.01M |
|
|
VG
1091
DELISTED
Vonage Holdings Corporation
VG
| $31.2M | 0.01% |
3,576,051
| – | – |
|
|
SC
1092
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $31.1M | 0.01% |
1,770,072
+52,882
| +3% | +$983K |
|
|
PRMW
1093
DELISTED
Primo Water Corporation
PRMW
| $31.1M | 0.01% |
2,234,130
+68,363
| +3% | +$1.01M |
|
1094
Huazhu Hotels Group
HTHT
$13.1B
| $31.1M | 0.01% |
1,087,099
+76,394
| +8% | +$2.2M |
|
1095
Mercury Insurance
MCY
$5.93B
| $31.1M | 0.01% |
601,733
| – | – |
|
|
TMHC
1096
DELISTED
Taylor Morrison
TMHC
| $31M | 0.01% |
1,949,244
+60,679
| +3% | +$991K |
|
1097
Clearway Energy Class C
CWEN
$4.94B
| $30.9M | 0.01% |
1,794,170
| – | – |
|
|
ACB
1098
Aurora Cannabis
ACB
$173M
| $30.9M | 0.01% |
+51,898
| New | +$38.3M |
|
1099
Viasat
VSAT
$10.6B
| $30.8M | 0.01% |
523,255
+28,498
| +6% | +$1.85M |
|
1100
Azenta
AZTA
$1.3B
| $30.8M | 0.01% |
1,177,095
| – | – |
|
Similar funds
Norges Bank's Q4 2018 Portfolio in Review
As of Q4 2018, Norges Bank held 2,178 positions worth $269B, down 13% from $308B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Trading was light in Q4 2018: portfolio turnover was 4.1%. Norges Bank opened 36 new positions and exited 54, leaving the 2,178-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q4 2018 buy was Linde: 16,803,065 shares worth $2.62B.
- Norges Bank added most to Cigna in Q4 2018, an estimated $285M increase.
- Norges Bank's biggest Q4 2018 reduction was Boston Scientific, cutting an estimated $168M.
- Norges Bank fully exited Aetna Inc in Q4 2018, selling an estimated $646M.
- Norges Bank's ten largest holdings make up 16% of its $269B portfolio in Q4 2018.
- Norges Bank opened 36 new positions and closed 54 in Q4 2018.
- Norges Bank's portfolio value fell 13% quarter-over-quarter to $269B.
Based on Norges Bank's 13F filing for Q4 2018, filed 8 Feb 2019.