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 | |
|---|---|---|---|---|---|---|
|
AEL
1076
DELISTED
American Equity Investment Life Holding Company
AEL
| $37.1M | 0.01% |
1,366,387
| – | – |
|
|
BPYU
1077
DELISTED
Brookfield Property REIT Inc. Class A Common Stock
BPYU
| $37.1M | 0.01% |
1,963,239
| – | – |
|
1078
Marriott Vacations Worldwide
VAC
$3.35B
| $37.1M | 0.01% |
384,551
| – | – |
|
1079
FirstService
FSV
$6.48B
| $37M | 0.01% |
383,577
| – | – |
|
1080
Clean Harbors
CLH
$16.5B
| $36.9M | 0.01% |
519,458
| – | – |
|
1081
ONE Gas
OGS
$4.87B
| $36.9M | 0.01% |
408,800
+26,226
| +7% | +$2.32M |
|
1082
Azenta
AZTA
$1.3B
| $36.9M | 0.01% |
951,839
-85,496
| -8% | -$3.07M |
|
1083
LiveRamp
RAMP
$2.3B
| $36.9M | 0.01% |
760,220
-19,462
| -2% | -$1.05M |
|
|
CLGX
1084
DELISTED
Corelogic, Inc.
CLGX
| $36.8M | 0.01% |
880,717
| – | – |
|
1085
Cracker Barrel
CBRL
$1.26B
| $36.8M | 0.01% |
215,635
+6,959
| +3% | +$1.14M |
|
1086
Columbia Sportswear
COLM
$3.04B
| $36.8M | 0.01% |
367,553
-29,118
| -7% | -$2.89M |
|
1087
Bank of Hawaii
BOH
$3.15B
| $36.7M | 0.01% |
442,903
+27,603
| +7% | +$2.22M |
|
|
AGR
1088
DELISTED
Avangrid, Inc.
AGR
| $36.6M | 0.01% |
724,765
| – | – |
|
1089
Merit Medical Systems
MMSI
$5.08B
| $36.5M | 0.01% |
612,574
| – | – |
|
1090
Hilton Grand Vacations
HGV
$3.59B
| $36.3M | 0.01% |
1,142,169
| – | – |
|
1091
Terreno Realty
TRNO
$7.57B
| $36.3M | 0.01% |
739,810
| – | – |
|
1092
WaFd
WAFD
$2.72B
| $36.2M | 0.01% |
1,037,167
-30,450
| -3% | -$985K |
|
1093
World Kinect Corp
WKC
$2.04B
| $36.2M | 0.01% |
1,006,654
| – | – |
|
|
COHR
1094
DELISTED
Coherent Inc
COHR
| $36.2M | 0.01% |
265,371
+27,098
| +11% | +$3.66M |
|
|
BID
1095
DELISTED
Sotheby's
BID
| $36.1M | 0.01% |
621,801
| – | – |
|
1096
Dolby
DLB
$5.51B
| $36.1M | 0.01% |
559,319
-196,182
| -26% | -$12.5M |
|
1097
Vermilion Energy
VET
$1.82B
| $36.1M | 0.01% |
1,658,913
| – | – |
|
|
EFOR
1098
Everforth Inc
EFOR
$1.17B
| $36.1M | 0.01% |
595,212
-49,872
| -8% | -$3M |
|
|
CSOD
1099
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $36M | 0.01% |
621,966
+37,671
| +6% | +$2.04M |
|
1100
KBR
KBR
$4.62B
| $36M | 0.01% |
1,441,733
| – | – |
|
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.