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 | |
|---|---|---|---|---|---|---|
|
OSB
1251
DELISTED
Norbord Inc.
OSB
| $29.1M | 0.01% |
1,171,266
-41,077
| -3% | -$969K |
|
1252
Franklin Electric
FELE
$4.63B
| $29M | 0.01% |
609,864
+29,205
| +5% | +$1.38M |
|
1253
Quaker Houghton
KWR
$2.76B
| $28.8M | 0.01% |
142,072
| – | – |
|
1254
Forward Air
FWRD
$444M
| $28.8M | 0.01% |
487,016
| – | – |
|
1255
Myriad Genetics
MYGN
$270M
| $28.8M | 0.01% |
1,036,869
-125,943
| -11% | -$3.56M |
|
1256
Guardant Health
GH
$21.7B
| $28.7M | 0.01% |
332,821
+292,821
| +732% | +$22.4M |
|
1257
Mattel
MAT
$4.38B
| $28.7M | 0.01% |
2,562,182
| – | – |
|
|
PRMW
1258
DELISTED
Primo Water Corporation
PRMW
| $28.7M | 0.01% |
2,149,120
+1,961
| +0.1% | +$27.5K |
|
1259
Globant
GLOB
$1.58B
| $28.6M | 0.01% |
283,383
| – | – |
|
1260
Pinnacle Financial Partners Inc
PNFP
$15.9B
| $28.6M | 0.01% |
497,226
+17,513
| +4% | +$986K |
|
|
AZUL
1261
DELISTED
Azul
AZUL
| $28.5M | 0.01% |
853,022
+148,200
| +21% | +$4.3M |
|
1262
Lithia Motors
LAD
$8.47B
| $28.5M | 0.01% |
239,929
| – | – |
|
1263
Green Dot
GDOT
$743M
| $28.5M | 0.01% |
582,756
| – | – |
|
|
BBBY
1264
DELISTED
Bed Bath & Beyond Inc
BBBY
| $28.5M | 0.01% |
2,452,347
| – | – |
|
1265
Enerpac Tool Group
EPAC
$1.83B
| $28.5M | 0.01% |
1,146,929
+38,669
| +3% | +$949K |
|
|
VISN
1266
Vistance Networks Inc
VISN
$2.65B
| $28.4M | 0.01% |
1,807,027
| – | – |
|
|
AVNS
1267
DELISTED
Avanos Medical
AVNS
| $28.4M | 0.01% |
651,702
-90,728
| -12% | -$3.88M |
|
|
FNSR
1268
DELISTED
Finisar Corp
FNSR
| $28.4M | 0.01% |
1,242,154
+41,017
| +3% | +$940K |
|
1269
CorVel
CRVL
$3.06B
| $28.4M | 0.01% |
978,243
| – | – |
|
1270
Valmont Industries
VMI
$9.3B
| $28.4M | 0.01% |
223,689
| – | – |
|
1271
Builders FirstSource
BLDR
$7.15B
| $28.2M | 0.01% |
1,672,394
| – | – |
|
1272
Halozyme
HALO
$9.79B
| $28.1M | 0.01% |
1,635,203
+16,443
| +1% | +$265K |
|
|
WAGE
1273
DELISTED
WageWorks, Inc.
WAGE
| $28.1M | 0.01% |
552,791
+69,670
| +14% | +$3.29M |
|
1274
Kaiser Aluminum
KALU
$2.61B
| $27.9M | 0.01% |
286,313
-37,073
| -11% | -$3.62M |
|
1275
Insight Enterprises
NSIT
$3.89B
| $27.9M | 0.01% |
479,361
| – | – |
|
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.