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 | |
|---|---|---|---|---|---|---|
1301
Zscaler
ZS
$24.5B
| $26.7M | 0.01% |
+376,102
| New | +$20M |
|
|
QEP
1302
DELISTED
QEP RESOURCES, INC.
QEP
| $26.6M | 0.01% |
3,415,528
| – | – |
|
|
TARO
1303
DELISTED
Taro Pharmaceutical Industries Ltd.
TARO
| $26.6M | 0.01% |
246,049
| – | – |
|
1304
Gibraltar Industries
ROCK
$1.25B
| $26.5M | 0.01% |
652,136
| – | – |
|
1305
Insight Enterprises
NSIT
$3.89B
| $26.4M | 0.01% |
479,361
+23,969
| +5% | +$1.21M |
|
|
SFLY
1306
DELISTED
Shutterfly, Inc.
SFLY
| $26.4M | 0.01% |
649,243
| – | – |
|
1307
Trustmark
TRMK
$2.76B
| $26.4M | 0.01% |
783,967
| – | – |
|
1308
Materion
MTRN
$4.39B
| $26.3M | 0.01% |
461,249
| – | – |
|
|
AAMI
1309
Acadian Asset Management
AAMI
$3.08B
| $26.3M | 0.01% |
1,936,874
| – | – |
|
1310
Pinnacle Financial Partners Inc
PNFP
$15.9B
| $26.2M | 0.01% |
479,713
+56,557
| +13% | +$3.12M |
|
1311
H.B. Fuller
FUL
$2.97B
| $26.2M | 0.01% |
539,399
+46,439
| +9% | +$2.23M |
|
|
SYKE
1312
DELISTED
SYKES Enterprises Inc
SYKE
| $26.2M | 0.01% |
927,606
| – | – |
|
1313
Xencor
XNCR
$1.5B
| $26.2M | 0.01% |
843,558
+61,723
| +8% | +$2.05M |
|
1314
Avista
AVA
$3.34B
| $26.1M | 0.01% |
643,212
+48,403
| +8% | +$1.99M |
|
1315
Federal Signal
FSS
$7.63B
| $26.1M | 0.01% |
1,004,815
| – | – |
|
1316
Tower Semiconductor
TSEM
$24.8B
| $26.1M | 0.01% |
1,582,577
| – | – |
|
1317
Halozyme
HALO
$9.79B
| $26.1M | 0.01% |
1,618,760
| – | – |
|
1318
Crocs
CROX
$6.14B
| $26.1M | 0.01% |
1,011,862
-537,760
| -35% | -$14.7M |
|
1319
HEICO Corp
HEI
$49.8B
| $26M | 0.01% |
274,440
+25,191
| +10% | +$2.2M |
|
|
DCH
1320
Dauch Corp
DCH
$1.34B
| $25.9M | 0.01% |
1,810,893
-422,506
| -19% | -$6.11M |
|
1321
Worthington Enterprises
WOR
$2.75B
| $25.9M | 0.01% |
1,125,486
+91,459
| +9% | +$2.09M |
|
|
IMMU
1322
DELISTED
Immunomedics Inc
IMMU
| $25.9M | 0.01% |
1,348,025
+216,918
| +19% | +$3.5M |
|
1323
Minerals Technologies
MTX
$2.36B
| $25.9M | 0.01% |
440,150
| – | – |
|
|
VRE
1324
DELISTED
Veris Residential
VRE
| $25.9M | 0.01% |
1,165,051
| – | – |
|
1325
Atlantic Union Bankshares
AUB
$6.02B
| $25.8M | 0.01% |
799,267
+89,884
| +13% | +$3M |
|
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.