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 | |
|---|---|---|---|---|---|---|
1326
SLM Corp
SLM
$4.89B
| $26.2M | 0.01% |
2,696,146
| – | – |
|
|
PDCE
1327
DELISTED
PDC Energy, Inc.
PDCE
| $26.2M | 0.01% |
726,071
| – | – |
|
1328
Badger Meter
BMI
$3.89B
| $26.2M | 0.01% |
438,478
+17,304
| +4% | +$959K |
|
1329
Cannae Holdings
CNNE
$639M
| $26.1M | 0.01% |
901,811
| – | – |
|
|
ACIA
1330
DELISTED
Acacia Communications Inc
ACIA
| $26.1M | 0.01% |
553,567
+328,182
| +146% | +$17.3M |
|
1331
Pediatrix Medical
MD
$2.18B
| $26.1M | 0.01% |
1,034,483
| – | – |
|
1332
Genworth Financial
GNW
$3.76B
| $26.1M | 0.01% |
7,030,917
| – | – |
|
1333
Huron Consulting
HURN
$2.41B
| $26M | 0.01% |
516,999
-20,605
| -4% | -$1.01M |
|
1334
Element Solutions
ESI
$8.95B
| $26M | 0.01% |
2,517,326
| – | – |
|
1335
Medpace
MEDP
$16.1B
| $26M | 0.01% |
397,225
+53,761
| +16% | +$3.1M |
|
|
MGLN
1336
DELISTED
Magellan Health Services, Inc.
MGLN
| $26M | 0.01% |
349,985
-57,754
| -14% | -$3.88M |
|
|
AL
1337
DELISTED
Air Lease Corp
AL
| $26M | 0.01% |
628,218
| – | – |
|
1338
B2Gold
BTG
$5B
| $26M | 0.01% |
8,526,772
+363,242
| +4% | +$994K |
|
1339
Pilgrim's Pride
PPC
$6.51B
| $25.9M | 0.01% |
1,021,361
| – | – |
|
1340
Cimpress
CMPR
$2.39B
| $25.9M | 0.01% |
285,122
| – | – |
|
|
MNTA
1341
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $25.9M | 0.01% |
2,077,204
+223,735
| +12% | +$2.97M |
|
1342
EXL Service
EXLS
$5.14B
| $25.7M | 0.01% |
1,942,415
| – | – |
|
1343
Columbia Banking Systems
COLB
$8.84B
| $25.6M | 0.01% |
707,718
+80,713
| +13% | +$2.86M |
|
1344
Lattice Semiconductor
LSCC
$17.6B
| $25.6M | 0.01% |
1,753,183
| – | – |
|
|
FOLD
1345
DELISTED
Amicus Therapeutics
FOLD
| $25.5M | 0.01% |
2,045,287
+483,402
| +31% | +$6.13M |
|
|
SEM
1346
DELISTED
Select Medical
SEM
| $25.5M | 0.01% |
2,982,646
-628,449
| -17% | -$4.97M |
|
1347
LCI Industries
LCII
$2.49B
| $25.5M | 0.01% |
283,169
+41,904
| +17% | +$3.7M |
|
1348
Liberty Media Series A
FWONA
$22.5B
| $25.5M | 0.01% |
742,250
| – | – |
|
|
UCB
1349
United Community Banks
UCB
$4.24B
| $25.5M | 0.01% |
891,992
+91,077
| +11% | +$2.49M |
|
|
SYKE
1350
DELISTED
SYKES Enterprises Inc
SYKE
| $25.5M | 0.01% |
927,606
| – | – |
|
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.