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 | |
|---|---|---|---|---|---|---|
1101
Hilton Grand Vacations
HGV
$3.59B
| $35.2M | 0.01% |
1,142,169
-114,342
| -9% | -$3.5M |
|
1102
Diodes
DIOD
$3.78B
| $35.1M | 0.01% |
1,012,093
-76,311
| -7% | -$2.74M |
|
1103
Liberty Global Class C
LBTYK
$3.53B
| $35.1M | 0.01% |
1,450,592
-808,178
| -36% | -$19.1M |
|
|
MZTI
1104
The Marzetti Company
MZTI
$2.93B
| $35.1M | 0.01% |
224,104
| – | – |
|
|
PCH
1105
DELISTED
PotlatchDeltic
PCH
| $35.1M | 0.01% |
928,455
+317,803
| +52% | +$11.3M |
|
1106
Qualys
QLYS
$5.1B
| $35.1M | 0.01% |
423,839
| – | – |
|
1107
Western Alliance Bancorporation
WAL
$8.79B
| $35M | 0.01% |
853,176
| – | – |
|
|
GSKY
1108
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
| $35M | 0.01% |
2,703,721
| – | – |
|
1109
Nutrien
NTR
$33.2B
| $35M | 0.01% |
+662,726
| New | +$34.5M |
|
|
DOCU
1110
DocuSign
DOCU
$10.5B
| $34.9M | 0.01% |
673,002
+68,456
| +11% | +$3.49M |
|
1111
JetBlue
JBLU
$2.28B
| $34.9M | 0.01% |
2,130,982
| – | – |
|
1112
Korn Ferry
KFY
$4.18B
| $34.8M | 0.01% |
777,539
+49,932
| +7% | +$2.28M |
|
1113
Eagle Materials
EXP
$6.29B
| $34.7M | 0.01% |
412,084
| – | – |
|
1114
Hancock Whitney
HWC
$6.2B
| $34.7M | 0.01% |
859,050
| – | – |
|
1115
RLJ Lodging Trust
RLJ
$1.86B
| $34.6M | 0.01% |
1,969,841
| – | – |
|
1116
DigitalBridge
DBRG
$2.93B
| $34.6M | 0.01% |
1,624,888
| – | – |
|
|
CVSA
1117
Covista Inc
CVSA
$4.25B
| $34.6M | 0.01% |
746,417
| – | – |
|
1118
Petrobras Class A
PBR.A
$111B
| $34.5M | 0.01% |
2,412,665
+600,000
| +33% | +$8.4M |
|
|
ENV
1119
DELISTED
ENVESTNET, INC.
ENV
| $34.4M | 0.01% |
525,523
| – | – |
|
1120
Pinduoduo
PDD
$126B
| $34.3M | 0.01% |
+1,384,031
| New | +$37.1M |
|
1121
Diamondrock Hospitality Co
DRH
$2.71B
| $34.3M | 0.01% |
3,164,617
+591,669
| +23% | +$6.12M |
|
1122
FirstService
FSV
$6.48B
| $34.2M | 0.01% |
383,577
| – | – |
|
|
AUY
1123
DELISTED
Yamana Gold, Inc.
AUY
| $34.1M | 0.01% |
13,105,041
+1,575,748
| +14% | +$4.08M |
|
|
SIX
1124
DELISTED
Six Flags Entertainment Corp.
SIX
| $34.1M | 0.01% |
691,318
| – | – |
|
1125
ONE Gas
OGS
$4.87B
| $34.1M | 0.01% |
382,574
| – | – |
|
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.