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 | |
|---|---|---|---|---|---|---|
|
EGOV
1201
DELISTED
NIC Inc
EGOV
| $31.3M | 0.01% |
1,948,620
| – | – |
|
|
XHR
1202
Xenia Hotels & Resorts
XHR
$1.9B
| $31.2M | 0.01% |
1,497,267
+46,019
| +3% | +$995K |
|
1203
Cogent Communications
CCOI
$676M
| $31.2M | 0.01% |
525,051
+18,152
| +4% | +$1.04M |
|
1204
Hudbay
HBM
$10.1B
| $31.2M | 0.01% |
5,743,868
-660,677
| -10% | -$3.92M |
|
1205
Korn Ferry
KFY
$4.18B
| $31.2M | 0.01% |
777,539
| – | – |
|
|
TCF
1206
DELISTED
TCF Financial Corporation Common Stock
TCF
| $31.1M | 0.01% |
756,308
+61,347
| +9% | +$2.55M |
|
|
QTS
1207
DELISTED
QTS REALTY TRUST, INC.
QTS
| $31.1M | 0.01% |
672,614
| – | – |
|
|
ARI
1208
Apollo Commercial Real Estate
ARI
$867M
| $31.1M | 0.01% |
1,688,508
+140,000
| +9% | +$2.61M |
|
1209
Rogers Corp
ROG
$2.21B
| $31M | 0.01% |
179,684
-7,359
| -4% | -$1.2M |
|
|
DLPH
1210
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
| $30.9M | 0.01% |
1,545,214
-101,921
| -6% | -$2.09M |
|
|
OPLN
1211
Openlane
OPLN
$4.21B
| $30.8M | 0.01% |
1,231,040
-2,021,368
| -62% | -$43.5M |
|
1212
Ultragenyx Pharmaceutical
RARE
$2.45B
| $30.8M | 0.01% |
484,506
+43,999
| +10% | +$2.8M |
|
1213
Designer Brands
DBI
$307M
| $30.8M | 0.01% |
1,604,164
| – | – |
|
|
BDN
1214
Brandywine Realty Trust
BDN
$524M
| $30.7M | 0.01% |
2,147,094
| – | – |
|
1215
Old National Bancorp
ONB
$10.2B
| $30.6M | 0.01% |
1,845,787
-211,553
| -10% | -$3.53M |
|
|
BSMX
1216
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
| $30.6M | 0.01% |
+4,000,000
| New | +$30.9M |
|
1217
Enpro
NPO
$6.63B
| $30.5M | 0.01% |
476,993
+195,253
| +69% | +$12.8M |
|
|
COUP
1218
DELISTED
Coupa Software Incorporated
COUP
| $30.4M | 0.01% |
240,423
-75,570
| -24% | -$8.11M |
|
1219
Nelnet
NNI
$4.88B
| $30.4M | 0.01% |
512,802
| – | – |
|
1220
Innospec
IOSP
$2.12B
| $30.3M | 0.01% |
332,614
+12,178
| +4% | +$1.03M |
|
1221
Clearway Energy Class C
CWEN
$4.94B
| $30.3M | 0.01% |
1,794,170
| – | – |
|
1222
Grupo Cibest SA
CIB
$22B
| $30.2M | 0.01% |
592,564
| – | – |
|
1223
Pegasystems
PEGA
$5.02B
| $30.2M | 0.01% |
849,262
| – | – |
|
|
CHX
1224
DELISTED
ChampionX
CHX
| $30.1M | 0.01% |
898,036
+287,494
| +47% | +$10.4M |
|
1225
Commault Systems
CVLT
$4.88B
| $30.1M | 0.01% |
606,875
| – | – |
|
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.