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 | |
|---|---|---|---|---|---|---|
|
AY
1251
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $28.5M | 0.01% |
1,462,909
-291,542
| -17% | -$5.54M |
|
1252
Quaker Houghton
KWR
$2.76B
| $28.5M | 0.01% |
142,072
| – | – |
|
1253
Fulton Financial
FULT
$4.66B
| $28.4M | 0.01% |
1,835,995
| – | – |
|
|
ERF
1254
DELISTED
Enerplus Corporation
ERF
| $28.3M | 0.01% |
3,378,179
| – | – |
|
1255
Empire State Realty Trust
ESRT
$872M
| $28.3M | 0.01% |
1,788,250
| – | – |
|
1256
Nelnet
NNI
$4.88B
| $28.2M | 0.01% |
512,802
-38,068
| -7% | -$2.05M |
|
|
ARI
1257
Apollo Commercial Real Estate
ARI
$867M
| $28.2M | 0.01% |
1,548,508
| – | – |
|
1258
Agios Pharmaceuticals
AGIO
$1.79B
| $28.2M | 0.01% |
417,825
| – | – |
|
|
ELME
1259
Elme Communities
ELME
$143M
| $28.2M | 0.01% |
992,228
| – | – |
|
1260
PENN Entertainment
PENN
$2.75B
| $28.1M | 0.01% |
1,399,359
| – | – |
|
1261
Acadia Pharmaceuticals
ACAD
$4.43B
| $28.1M | 0.01% |
1,047,051
+75,075
| +8% | +$1.75M |
|
1262
HNI Corp
HNI
$3.24B
| $28.1M | 0.01% |
774,603
| – | – |
|
1263
Pediatrix Medical
MD
$2.18B
| $28.1M | 0.01% |
1,034,483
| – | – |
|
1264
Ironwood Pharmaceuticals
IRWD
$696M
| $28.1M | 0.01% |
2,479,034
+223,796
| +10% | +$2.5M |
|
1265
Sensient Technologies
SXT
$5.26B
| $28M | 0.01% |
413,620
+77,923
| +23% | +$4.91M |
|
1266
Edgewell Personal Care
EPC
$1.25B
| $28M | 0.01% |
638,118
-259,955
| -29% | -$10.8M |
|
|
LM
1267
DELISTED
Legg Mason, Inc.
LM
| $28M | 0.01% |
1,022,089
| – | – |
|
1268
Enviri
NVRI
$623M
| $28M | 0.01% |
1,387,130
-105,150
| -7% | -$2.26M |
|
1269
Under Armour Class C
UA
$2.77B
| $27.9M | 0.01% |
1,478,163
+993,403
| +205% | +$18.8M |
|
|
FNSR
1270
DELISTED
Finisar Corp
FNSR
| $27.8M | 0.01% |
1,201,137
| – | – |
|
1271
Yelp
YELP
$1.45B
| $27.8M | 0.01% |
805,648
| – | – |
|
1272
UFP Industries
UFPI
$4.9B
| $27.8M | 0.01% |
929,478
| – | – |
|
1273
Dillards
DDS
$9.19B
| $27.8M | 0.01% |
385,460
| – | – |
|
1274
Employers Holdings
EIG
$908M
| $27.7M | 0.01% |
690,542
| – | – |
|
1275
Pan American Silver
PAAS
$18.2B
| $27.6M | 0.01% |
2,091,723
+359,053
| +21% | +$5.03M |
|
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.