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 | |
|---|---|---|---|---|---|---|
1126
UMB Financial
UMBF
$11.1B
| $29.9M | 0.01% |
490,680
| – | – |
|
|
SEM
1127
DELISTED
Select Medical
SEM
| $29.9M | 0.01% |
3,611,095
| – | – |
|
1128
Rexford Industrial Realty
REXR
$8.42B
| $29.8M | 0.01% |
1,012,399
+62,212
| +7% | +$1.97M |
|
|
SKX
1129
DELISTED
Skechers
SKX
| $29.8M | 0.01% |
1,301,726
+40,000
| +3% | +$1.05M |
|
1130
Hancock Whitney
HWC
$6.2B
| $29.8M | 0.01% |
859,050
+79,335
| +10% | +$3.21M |
|
1131
Cushman & Wakefield Ltd
CWK
$3.14B
| $29.7M | 0.01% |
2,049,649
+16,315
| +0.8% | +$272K |
|
1132
Enviri
NVRI
$623M
| $29.6M | 0.01% |
1,492,280
| – | – |
|
|
SCS
1133
DELISTED
Steelcase
SCS
| $29.6M | 0.01% |
1,997,661
| – | – |
|
|
VISN
1134
Vistance Networks Inc
VISN
$2.65B
| $29.6M | 0.01% |
1,807,027
+116,418
| +7% | +$2.47M |
|
1135
Thor Industries
THO
$3.9B
| $29.6M | 0.01% |
569,301
+12,696
| +2% | +$859K |
|
1136
Wabtec
WAB
$49.1B
| $29.5M | 0.01% |
420,102
+117,582
| +39% | +$10.3M |
|
|
CLGX
1137
DELISTED
Corelogic, Inc.
CLGX
| $29.4M | 0.01% |
880,717
| – | – |
|
1138
TriMas Corp
TRS
$1.43B
| $29.4M | 0.01% |
1,078,282
| – | – |
|
1139
Trinity Industries
TRN
$2.49B
| $29.3M | 0.01% |
1,421,459
-552,948
| -28% | -$12.7M |
|
1140
Wayfair
W
$11.2B
| $29.2M | 0.01% |
324,255
+45,809
| +16% | +$4.82M |
|
1141
Algonquin Power & Utilities
AQN
$4.49B
| $29.2M | 0.01% |
2,904,667
+472,510
| +19% | +$4.86M |
|
|
NGHC
1142
DELISTED
National General Holdings Corp
NGHC
| $29.1M | 0.01% |
1,201,496
+125,872
| +12% | +$3.2M |
|
1143
Employers Holdings
EIG
$908M
| $29M | 0.01% |
690,542
| – | – |
|
|
RPAI
1144
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $28.9M | 0.01% |
2,662,922
| – | – |
|
1145
Kaiser Aluminum
KALU
$2.61B
| $28.9M | 0.01% |
323,386
-11,061
| -3% | -$1.07M |
|
1146
Vipshop
VIPS
$7.37B
| $28.8M | 0.01% |
5,283,571
+1,738,700
| +49% | +$9.36M |
|
1147
Nelnet
NNI
$4.88B
| $28.8M | 0.01% |
550,870
| – | – |
|
1148
Churchill Downs
CHDN
$5.88B
| $28.8M | 0.01% |
708,732
-22,374
| -3% | -$987K |
|
1149
Energizer
ENR
$1.44B
| $28.8M | 0.01% |
637,676
| – | – |
|
1150
Korn Ferry
KFY
$4.18B
| $28.8M | 0.01% |
727,607
+24,624
| +4% | +$1.11M |
|
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.