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 | |
|---|---|---|---|---|---|---|
|
CMBT
1101
CMB.TECH NV
CMBT
$4.69B
| $30.7M | 0.01% |
4,347,876
| – | – |
|
1102
Ashland
ASH
$3.33B
| $30.6M | 0.01% |
431,373
| – | – |
|
|
MIK
1103
DELISTED
Michaels Stores, Inc
MIK
| $30.5M | 0.01% |
2,255,263
| – | – |
|
|
UFS
1104
DELISTED
DOMTAR CORPORATION (New)
UFS
| $30.5M | 0.01% |
869,239
+21,772
| +3% | +$954K |
|
1105
Dana Inc
DAN
$2.9B
| $30.5M | 0.01% |
2,238,992
| – | – |
|
1106
Cracker Barrel
CBRL
$1.26B
| $30.5M | 0.01% |
190,528
| – | – |
|
1107
Integer Holdings
ITGR
$4.12B
| $30.5M | 0.01% |
399,393
| – | – |
|
1108
ONE Gas
OGS
$4.87B
| $30.5M | 0.01% |
382,574
| – | – |
|
1109
Essent Group
ESNT
$6.08B
| $30.4M | 0.01% |
890,092
| – | – |
|
1110
DigitalBridge
DBRG
$2.93B
| $30.4M | 0.01% |
1,624,888
| – | – |
|
|
TSG
1111
DELISTED
The Stars Group Inc.
TSG
| $30.4M | 0.01% |
1,841,932
| – | – |
|
1112
Valley National Bancorp
VLY
$7.9B
| $30.3M | 0.01% |
3,411,841
+180,045
| +6% | +$1.82M |
|
|
CGC
1113
Canopy Growth
CGC
$387M
| $30.3M | 0.01% |
113,005
+15,452
| +16% | +$5.8M |
|
1114
Hudbay
HBM
$10.1B
| $30.3M | 0.01% |
6,404,545
+476,290
| +8% | +$2.24M |
|
1115
Spire
SR
$4.72B
| $30.3M | 0.01% |
408,797
+13,430
| +3% | +$1.02M |
|
1116
International Bancshares
IBOC
$4.76B
| $30.2M | 0.01% |
878,498
| – | – |
|
|
B
1117
DELISTED
Barnes Group Inc.
B
| $30.2M | 0.01% |
562,976
| – | – |
|
1118
Watts Water Technologies
WTS
$11.5B
| $30.1M | 0.01% |
466,297
| – | – |
|
|
JOYY
1119
JOYY Inc
JOYY
$3.71B
| $30.1M | 0.01% |
502,340
| – | – |
|
|
ANAT
1120
DELISTED
American National Group, Inc. Common Stock
ANAT
| $30M | 0.01% |
236,071
| – | – |
|
|
SWN
1121
DELISTED
Southwestern Energy Company
SWN
| $30M | 0.01% |
8,787,717
+1,928,319
| +28% | +$9.48M |
|
1122
Vishay Intertechnology
VSH
$5.25B
| $30M | 0.01% |
1,663,178
| – | – |
|
1123
HealthEquity
HQY
$8.41B
| $29.9M | 0.01% |
502,093
+103,987
| +26% | +$8.38M |
|
|
VSM
1124
DELISTED
Versum Materials, Inc.
VSM
| $29.9M | 0.01% |
1,080,433
| – | – |
|
1125
La-Z-Boy
LZB
$1.58B
| $29.9M | 0.01% |
1,079,716
-71,718
| -6% | -$2.02M |
|
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.