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 | |
|---|---|---|---|---|---|---|
1151
Murphy USA
MUSA
$11.2B
| $33.2M | 0.01% |
388,095
+50,190
| +15% | +$3.97M |
|
1152
Westlake Corp
WLK
$9.03B
| $33.1M | 0.01% |
488,048
| – | – |
|
1153
United Bankshares
UBSI
$6.63B
| $33.1M | 0.01% |
912,662
| – | – |
|
1154
Sally Beauty Holdings
SBH
$1.43B
| $32.9M | 0.01% |
1,789,051
+435,000
| +32% | +$7.77M |
|
|
PDM
1155
Piedmont Realty Trust
PDM
$1.21B
| $32.9M | 0.01% |
1,577,428
+58,685
| +4% | +$1.15M |
|
1156
Bank OZK
OZK
$5.6B
| $32.9M | 0.01% |
1,133,688
+201,192
| +22% | +$6.09M |
|
1157
Trex
TREX
$4.51B
| $32.8M | 0.01% |
1,067,000
-132,438
| -11% | -$4.63M |
|
|
CLGX
1158
DELISTED
Corelogic, Inc.
CLGX
| $32.8M | 0.01% |
880,717
| – | – |
|
1159
Bank of Hawaii
BOH
$3.15B
| $32.8M | 0.01% |
415,300
| – | – |
|
1160
Valley National Bancorp
VLY
$7.9B
| $32.7M | 0.01% |
3,411,841
| – | – |
|
1161
TriMas Corp
TRS
$1.43B
| $32.6M | 0.01% |
1,078,282
| – | – |
|
|
RPAI
1162
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $32.5M | 0.01% |
2,662,922
| – | – |
|
|
AXON
1163
Axon Enterprise
AXON
$42.5B
| $32.4M | 0.01% |
595,523
+57,723
| +11% | +$2.96M |
|
1164
Exponent
EXPO
$3.24B
| $32.4M | 0.01% |
561,081
+20,064
| +4% | +$1.08M |
|
1165
Hawaiian Electric Industries
HE
$2.23B
| $32.3M | 0.01% |
791,304
+128,319
| +19% | +$4.88M |
|
|
TSG
1166
DELISTED
The Stars Group Inc.
TSG
| $32.2M | 0.01% |
1,841,932
| – | – |
|
|
ISBC
1167
DELISTED
Investors Bancorp, Inc.
ISBC
| $32.2M | 0.01% |
2,714,467
| – | – |
|
1168
Silgan Holdings
SLGN
$4.23B
| $32.1M | 0.01% |
1,084,520
+35,945
| +3% | +$991K |
|
|
CSOD
1169
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $32M | 0.01% |
584,295
+37,629
| +7% | +$2.08M |
|
1170
KB Home
KBH
$3.37B
| $32M | 0.01% |
1,323,532
| – | – |
|
1171
Churchill Downs
CHDN
$5.88B
| $32M | 0.01% |
708,732
| – | – |
|
|
EE
1172
DELISTED
El Paso Electric Company
EE
| $31.9M | 0.01% |
542,891
| – | – |
|
|
CXP
1173
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
| $31.9M | 0.01% |
1,417,486
| – | – |
|
|
XHR
1174
Xenia Hotels & Resorts
XHR
$1.9B
| $31.8M | 0.01% |
1,451,248
+73,721
| +5% | +$1.4M |
|
1175
Power Integrations
POWI
$3.38B
| $31.8M | 0.01% |
908,846
| – | – |
|
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.