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 | |
|---|---|---|---|---|---|---|
|
BDN
1126
Brandywine Realty Trust
BDN
$524M
| $34.1M | 0.01% |
2,147,094
+77,700
| +4% | +$1.17M |
|
1127
MillerKnoll
MLKN
$1.53B
| $34M | 0.01% |
967,765
-206,026
| -18% | -$7.18M |
|
1128
Wintrust Financial
WTFC
$10.8B
| $34M | 0.01% |
505,539
+13,877
| +3% | +$992K |
|
1129
First Financial Bankshares
FFIN
$5.04B
| $34M | 0.01% |
1,177,056
+596,252
| +103% | +$18.2M |
|
1130
NewMarket
NEU
$7.82B
| $33.9M | 0.01% |
78,208
| – | – |
|
|
ODP
1131
DELISTED
ODP
ODP
| $33.9M | 0.01% |
933,414
-159,799
| -15% | -$5.13M |
|
1132
Kaiser Aluminum
KALU
$2.61B
| $33.9M | 0.01% |
323,386
| – | – |
|
|
DHC
1133
Diversified Healthcare Trust
DHC
$2.15B
| $33.8M | 0.01% |
2,873,403
| – | – |
|
1134
Abercrombie & Fitch
ANF
$4.42B
| $33.8M | 0.01% |
1,234,234
-48,449
| -4% | -$1.09M |
|
|
TSE
1135
DELISTED
Trinseo
TSE
| $33.8M | 0.01% |
745,881
| – | – |
|
|
COHR
1136
DELISTED
Coherent Inc
COHR
| $33.8M | 0.01% |
238,273
+56,034
| +31% | +$7.09M |
|
1137
Old National Bancorp
ONB
$10.2B
| $33.7M | 0.01% |
2,057,340
| – | – |
|
1138
Cracker Barrel
CBRL
$1.26B
| $33.7M | 0.01% |
208,676
+18,148
| +10% | +$2.98M |
|
1139
Spire
SR
$4.72B
| $33.6M | 0.01% |
408,797
| – | – |
|
1140
MaxLinear
MXL
$6.06B
| $33.5M | 0.01% |
1,312,842
| – | – |
|
|
OSB
1141
DELISTED
Norbord Inc.
OSB
| $33.4M | 0.01% |
1,212,343
-210,444
| -15% | -$5.76M |
|
1142
International Bancshares
IBOC
$4.76B
| $33.4M | 0.01% |
878,498
| – | – |
|
1143
Valvoline
VVV
$4.9B
| $33.4M | 0.01% |
1,797,659
+52,465
| +3% | +$1.04M |
|
1144
Mattel
MAT
$4.38B
| $33.3M | 0.01% |
2,562,182
+547,529
| +27% | +$7.31M |
|
1145
Conduent
CNDT
$244M
| $33.3M | 0.01% |
2,408,363
| – | – |
|
|
EGOV
1146
DELISTED
NIC Inc
EGOV
| $33.3M | 0.01% |
1,948,620
| – | – |
|
|
TEN
1147
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $33.3M | 0.01% |
1,501,761
-222,169
| -13% | -$7.01M |
|
1148
Dana Inc
DAN
$2.9B
| $33.3M | 0.01% |
1,875,400
-363,592
| -16% | -$6.45M |
|
1149
Cabot Corp
CBT
$4.54B
| $33.3M | 0.01% |
799,087
| – | – |
|
1150
Ollie's Bargain Outlet
OLLI
$4.44B
| $33.2M | 0.01% |
389,647
+154,827
| +66% | +$12.5M |
|
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.