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 | |
|---|---|---|---|---|---|---|
1351
Bank OZK
OZK
$5.6B
| $21.3M | 0.01% |
932,496
| – | – |
|
1352
Cimpress
CMPR
$2.39B
| $21.2M | 0.01% |
205,310
+8,582
| +4% | +$996K |
|
1353
Glacier Bancorp
GBCI
$6.42B
| $21.2M | 0.01% |
535,889
+70,791
| +15% | +$3.04M |
|
1354
New Jersey Resources
NJR
$5.84B
| $21.2M | 0.01% |
464,666
| – | – |
|
|
ENDP
1355
DELISTED
Endo International plc
ENDP
| $21.2M | 0.01% |
2,906,532
+80,256
| +3% | +$1.1M |
|
1356
McGrath RentCorp
MGRC
$2.81B
| $21.2M | 0.01% |
411,952
| – | – |
|
1357
ATI
ATI
$25.6B
| $21.2M | 0.01% |
972,958
| – | – |
|
1358
Scholastic
SCHL
$767M
| $21.2M | 0.01% |
525,730
| – | – |
|
1359
Adeia
ADEA
$2.94B
| $21.2M | 0.01% |
4,349,892
+485,005
| +13% | +$1.89M |
|
|
DOOR
1360
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $21.1M | 0.01% |
471,694
| – | – |
|
1361
Liberty Media Series A
FWONA
$22.5B
| $21.1M | 0.01% |
742,250
| – | – |
|
1362
SSR Mining
SSRM
$5.32B
| $21M | 0.01% |
1,741,141
| – | – |
|
1363
Cogent Communications
CCOI
$676M
| $21M | 0.01% |
465,514
| – | – |
|
1364
H.B. Fuller
FUL
$2.97B
| $21M | 0.01% |
492,960
+70,908
| +17% | +$3.21M |
|
1365
KBR
KBR
$4.64B
| $21M | 0.01% |
1,385,205
| – | – |
|
1366
Cleveland-Cliffs
CLF
$6.57B
| $21M | 0.01% |
2,732,255
+2,118,477
| +345% | +$21.2M |
|
1367
Petrobras Class A
PBR.A
$111B
| $21M | 0.01% |
1,812,665
-3,469,210
| -66% | -$45.3M |
|
1368
Terex
TEX
$7.18B
| $21M | 0.01% |
761,120
| – | – |
|
|
GHDX
1369
DELISTED
Genomic Health, Inc.
GHDX
| $21M | 0.01% |
325,654
+12,820
| +4% | +$899K |
|
1370
Boise Cascade
BCC
$2.69B
| $20.9M | 0.01% |
877,938
+9,923
| +1% | +$285K |
|
|
BRSL
1371
Brightstar Lottery PLC
BRSL
$1.84B
| $20.9M | 0.01% |
1,428,094
| – | – |
|
1372
Gates Industrial Corporation Ltd.
GTES
$7.08B
| $20.8M | 0.01% |
1,574,581
| – | – |
|
|
CHSP
1373
DELISTED
Chesapeake Lodging Trust
CHSP
| $20.8M | 0.01% |
855,495
| – | – |
|
|
TARO
1374
DELISTED
Taro Pharmaceutical Industries Ltd.
TARO
| $20.8M | 0.01% |
246,049
| – | – |
|
1375
Dave & Buster's
PLAY
$377M
| $20.8M | 0.01% |
465,746
+75,291
| +19% | +$4.23M |
|
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.