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 |
Linde
LIN
|
+$2.66B |
| 2 |
Cigna
CI
|
+$285M |
| 3 |
Boston Properties
BXP
|
+$242M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$242M |
| 5 |
Aptiv
APTV
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$646M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$543M |
| 3 |
PX
Praxair Inc
PX
|
+$305M |
| 4 |
COL
Rockwell Collins
COL
|
+$240M |
| 5 |
ANDV
Andeavor
ANDV
|
+$222M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.08% |
| 2 | Financials | 16.89% |
| 3 | Healthcare | 14.43% |
| 4 | Consumer Discretionary | 11.2% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1326
SLM Corp
SLM
$4.89B
| $22.4M | 0.01% |
2,696,146
+98,911
| +4% | +$984K |
|
|
GRP.U
1327
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $22.4M | 0.01% |
574,567
+24,459
| +4% | +$1.01M |
|
1328
Monro
MNRO
$383M
| $22.3M | 0.01% |
325,060
| – | – |
|
1329
CorVel
CRVL
$3.06B
| $22.3M | 0.01% |
1,083,861
-72,891
| -6% | -$1.49M |
|
1330
Trustmark
TRMK
$2.76B
| $22.3M | 0.01% |
783,967
| – | – |
|
1331
Northwest Bancshares
NWBI
$2.3B
| $22.2M | 0.01% |
1,312,517
| – | – |
|
1332
Worthington Enterprises
WOR
$2.77B
| $22.2M | 0.01% |
1,034,027
| – | – |
|
1333
Boston Beer
SAM
$1.91B
| $22.2M | 0.01% |
92,068
| – | – |
|
|
FTCH
1334
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $22.1M | 0.01% |
1,250,000
-1,250,000
| -50% | -$27.1M |
|
|
GES
1335
DELISTED
Guess Inc
GES
| $22.1M | 0.01% |
1,061,846
-92,041
| -8% | -$1.95M |
|
|
VIVO
1336
DELISTED
Meridian Bioscience Inc
VIVO
| $22.1M | 0.01% |
1,270,257
| – | – |
|
1337
Mercury Systems
MRCY
$5.83B
| $22M | 0.01% |
465,571
| – | – |
|
1338
CBIZ
CBZ
$2.99B
| $22M | 0.01% |
1,115,209
| – | – |
|
|
VRN
1339
DELISTED
Veren
VRN
| $21.9M | 0.01% |
7,234,529
+1,335,331
| +23% | +$5.69M |
|
|
MDP
1340
DELISTED
Meredith Corporation
MDP
| $21.9M | 0.01% |
422,158
| – | – |
|
|
CHK
1341
DELISTED
Chesapeake Energy Corporation
CHK
| $21.8M | 0.01% |
51,972
| – | – |
|
1342
Americold
COLD
$4.02B
| $21.8M | 0.01% |
853,005
+156,764
| +23% | +$4.02M |
|
1343
iQIYI
IQ
$1.23B
| $21.7M | 0.01% |
1,458,377
+708,377
| +94% | +$14.8M |
|
|
PRSU
1344
Pursuit Attractions and Hospitality Inc
PRSU
$1.39B
| $21.7M | 0.01% |
432,326
| – | – |
|
|
GWB
1345
DELISTED
Great Western Bancorp, Inc.
GWB
| $21.6M | 0.01% |
691,938
+46,819
| +7% | +$1.7M |
|
1346
SM Energy
SM
$7.8B
| $21.6M | 0.01% |
1,392,630
+211,943
| +18% | +$4.9M |
|
1347
O-I Glass
OI
$1.1B
| $21.5M | 0.01% |
1,249,726
+250,680
| +25% | +$4.38M |
|
1348
The Greenbrier Companies
GBX
$1.52B
| $21.5M | 0.01% |
543,830
| – | – |
|
|
LTC
1349
LTC Properties
LTC
$2.06B
| $21.4M | 0.01% |
513,940
+22,451
| +5% | +$984K |
|
|
ARNA
1350
DELISTED
Arena Pharmaceuticals Inc
ARNA
| $21.4M | 0.01% |
548,744
+383,323
| +232% | +$15.1M |
|
Similar funds
Norges Bank's Q4 2018 Portfolio in Review
As of Q4 2018, Norges Bank held 2,178 positions worth $269B, down 13% from $308B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Trading was light in Q4 2018: portfolio turnover was 4.1%. Norges Bank opened 36 new positions and exited 54, leaving the 2,178-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q4 2018 buy was Linde: 16,803,065 shares worth $2.62B.
- Norges Bank added most to Cigna in Q4 2018, an estimated $285M increase.
- Norges Bank's biggest Q4 2018 reduction was Boston Scientific, cutting an estimated $168M.
- Norges Bank fully exited Aetna Inc in Q4 2018, selling an estimated $646M.
- Norges Bank's ten largest holdings make up 16% of its $269B portfolio in Q4 2018.
- Norges Bank opened 36 new positions and closed 54 in Q4 2018.
- Norges Bank's portfolio value fell 13% quarter-over-quarter to $269B.
Based on Norges Bank's 13F filing for Q4 2018, filed 8 Feb 2019.