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 |
Alcon
ALC
|
+$602M |
| 2 |
Alexandria Real Estate Equities
ARE
|
+$488M |
| 3 |
Dow Inc
DOW
|
+$384M |
| 4 |
UBS Group
UBS
|
+$245M |
| 5 |
Regency Centers
REG
|
+$175M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameriprise Financial
AMP
|
+$280M |
| 2 |
Johnson Controls International
JCI
|
+$235M |
| 3 |
Linde
LIN
|
+$197M |
| 4 |
Baxter International
BAX
|
+$193M |
| 5 |
DuPont de Nemours
DD
|
+$140M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.05% |
| 2 | Financials | 16.91% |
| 3 | Healthcare | 13.48% |
| 4 | Consumer Discretionary | 11.5% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AAT
1176
American Assets Trust
AAT
$1.45B
| $32.3M | 0.01% |
686,433
+100,000
| +17% | +$4.6M |
|
1177
ATI
ATI
$25.6B
| $32.3M | 0.01% |
1,283,512
+127,186
| +11% | +$3.1M |
|
1178
UMB Financial
UMBF
$11.1B
| $32.3M | 0.01% |
490,680
| – | – |
|
1179
RLI Corp
RLI
$5.62B
| $32.2M | 0.01% |
750,470
+32,374
| +5% | +$1.33M |
|
1180
Silgan Holdings
SLGN
$4.23B
| $32.2M | 0.01% |
1,051,020
-33,500
| -3% | -$1M |
|
1181
MasTec
MTZ
$21.1B
| $32.1M | 0.01% |
623,778
+19,131
| +3% | +$945K |
|
|
AY
1182
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $32.1M | 0.01% |
1,414,010
-48,899
| -3% | -$1.04M |
|
|
CSGS
1183
DELISTED
CSG Systems International
CSGS
| $31.7M | 0.01% |
650,160
-85,767
| -12% | -$3.92M |
|
1184
Avista
AVA
$3.34B
| $31.7M | 0.01% |
711,638
+68,426
| +11% | +$2.91M |
|
1185
H.B. Fuller
FUL
$2.97B
| $31.7M | 0.01% |
683,013
+143,614
| +27% | +$6.62M |
|
1186
LXP Industrial Trust
LXP
$3.57B
| $31.6M | 0.01% |
672,260
-21,762
| -3% | -$1M |
|
1187
RBC Bearings
RBC
$17.4B
| $31.6M | 0.01% |
189,612
+9,657
| +5% | +$1.37M |
|
1188
Shenandoah Telecom
SHEN
$664M
| $31.6M | 0.01% |
819,287
| – | – |
|
1189
Safety Insurance
SAFT
$1.52B
| $31.5M | 0.01% |
331,095
| – | – |
|
|
TSG
1190
DELISTED
The Stars Group Inc.
TSG
| $31.5M | 0.01% |
1,841,932
| – | – |
|
|
PDM
1191
Piedmont Realty Trust
PDM
$1.21B
| $31.4M | 0.01% |
1,577,428
| – | – |
|
1192
Avient
AVNT
$3.33B
| $31.4M | 0.01% |
1,001,306
| – | – |
|
1193
Sensient Technologies
SXT
$5.26B
| $31.4M | 0.01% |
427,324
+13,704
| +3% | +$968K |
|
1194
Atlantic Union Bankshares
AUB
$6.02B
| $31.4M | 0.01% |
887,528
+88,261
| +11% | +$3.07M |
|
1195
NewMarket
NEU
$7.82B
| $31.4M | 0.01% |
78,208
| – | – |
|
1196
Colliers International
CIGI
$5.04B
| $31.3M | 0.01% |
437,299
| – | – |
|
1197
Cathay General Bancorp
CATY
$4.22B
| $31.3M | 0.01% |
872,357
+71,874
| +9% | +$2.55M |
|
|
RPAI
1198
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $31.3M | 0.01% |
2,662,922
| – | – |
|
1199
Wolverine World Wide
WWW
$1.61B
| $31.3M | 0.01% |
1,136,710
-129,172
| -10% | -$4.11M |
|
1200
Materion
MTRN
$4.39B
| $31.3M | 0.01% |
461,249
| – | – |
|
Similar funds
Norges Bank's Q2 2019 Portfolio in Review
As of Q2 2019, Norges Bank held 2,175 positions worth $324B, up 4.5% from $310B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Norges Bank's Q2 2019 filing shows 49 new, 658 increased, 482 reduced and 69 closed positions. Its largest new stake was Alcon: 10,263,150 shares worth $635M. The largest sale was Ameriprise Financial, an estimated $280M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2019 buy was Alcon: 10,263,150 shares worth $635M.
- Norges Bank added most to Alexandria Real Estate Equities in Q2 2019, an estimated $488M increase.
- Norges Bank's biggest Q2 2019 reduction was Ameriprise Financial, cutting an estimated $280M.
- Norges Bank fully exited Johnson Controls International in Q2 2019, selling an estimated $235M.
- Norges Bank's ten largest holdings make up 17% of its $324B portfolio in Q2 2019.
- Norges Bank opened 49 new positions and closed 69 in Q2 2019.
- Norges Bank's portfolio value rose 4.5% quarter-over-quarter to $324B.
Based on Norges Bank's 13F filing for Q2 2019, filed 9 Aug 2019.