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 | |
|---|---|---|---|---|---|---|
1151
First Financial Bancorp
FFBC
$3.55B
| $28.8M | 0.01% |
1,212,329
+110,778
| +10% | +$2.92M |
|
1152
Zillow
ZG
$7.94B
| $28.8M | 0.01% |
914,858
+100,000
| +12% | +$3.53M |
|
|
MOMO
1153
Hello Group
MOMO
$885M
| $28.7M | 0.01% |
1,206,979
| – | – |
|
1154
Avient
AVNT
$3.33B
| $28.6M | 0.01% |
1,001,306
| – | – |
|
1155
WaFd
WAFD
$2.72B
| $28.5M | 0.01% |
1,067,617
| – | – |
|
1156
NovoCure
NVCR
$1.73B
| $28.5M | 0.01% |
850,410
+29,726
| +4% | +$1.09M |
|
|
ICPT
1157
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $28.4M | 0.01% |
282,045
| – | – |
|
1158
Fulton Financial
FULT
$4.66B
| $28.4M | 0.01% |
1,835,995
+61,162
| +3% | +$995K |
|
1159
United Bankshares
UBSI
$6.63B
| $28.4M | 0.01% |
912,662
| – | – |
|
|
SF
1160
Stifel
SF
$12.6B
| $28.4M | 0.01% |
1,542,089
| – | – |
|
1161
Xencor
XNCR
$1.5B
| $28.3M | 0.01% |
781,835
+216,061
| +38% | +$7.93M |
|
|
ISBC
1162
DELISTED
Investors Bancorp, Inc.
ISBC
| $28.2M | 0.01% |
2,714,467
| – | – |
|
|
ODP
1163
DELISTED
ODP
ODP
| $28.2M | 0.01% |
1,093,213
| – | – |
|
1164
Yelp
YELP
$1.45B
| $28.2M | 0.01% |
805,648
+71,367
| +10% | +$2.73M |
|
1165
Caleres
CAL
$431M
| $28.1M | 0.01% |
1,009,170
-33,579
| -3% | -$1.08M |
|
1166
Brinker International
EAT
$9.17B
| $28M | 0.01% |
637,335
-62,647
| -9% | -$2.98M |
|
1167
Bank of Hawaii
BOH
$3.15B
| $28M | 0.01% |
415,300
+14,983
| +4% | +$1.14M |
|
1168
Strategy Inc
MSTR
$34.1B
| $28M | 0.01% |
2,188,060
-78,340
| -3% | -$992K |
|
|
WMGI
1169
DELISTED
Wright Medical Group Inc
WMGI
| $27.8M | 0.01% |
1,022,533
+106,242
| +12% | +$2.94M |
|
1170
United Fire Group
UFCS
$1.32B
| $27.8M | 0.01% |
501,950
| – | – |
|
|
BBBY
1171
DELISTED
Bed Bath & Beyond Inc
BBBY
| $27.8M | 0.01% |
2,452,347
-67,796
| -3% | -$886K |
|
|
GWR
1172
DELISTED
Genesee & Wyoming Inc.
GWR
| $27.8M | 0.01% |
374,935
| – | – |
|
|
STMP
1173
DELISTED
Stamps.com, Inc.
STMP
| $27.7M | 0.01% |
178,082
| – | – |
|
1174
Power Integrations
POWI
$3.38B
| $27.7M | 0.01% |
908,846
+35,906
| +4% | +$1.06M |
|
|
ARRY
1175
DELISTED
Array Biopharma Inc
ARRY
| $27.7M | 0.01% |
1,943,059
| – | – |
|
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.