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 | |
|---|---|---|---|---|---|---|
|
ERF
1351
DELISTED
Enerplus Corporation
ERF
| $25.5M | 0.01% |
3,378,179
| – | – |
|
|
MTOR
1352
DELISTED
MERITOR, Inc.
MTOR
| $25.4M | 0.01% |
1,049,213
| – | – |
|
1353
RH
RH
$3.13B
| $25.4M | 0.01% |
219,997
+10,538
| +5% | +$1.09M |
|
1354
Boyd Gaming
BYD
$6.18B
| $25.4M | 0.01% |
942,927
| – | – |
|
1355
O-I Glass
OI
$1.1B
| $25.3M | 0.01% |
1,467,639
+117,346
| +9% | +$2.09M |
|
|
KNL
1356
DELISTED
Knoll, Inc.
KNL
| $25.3M | 0.01% |
1,101,713
| – | – |
|
1357
Novanta
NOVT
$5.08B
| $25.3M | 0.01% |
268,440
| – | – |
|
1358
Apogee Enterprises
APOG
$826M
| $25.2M | 0.01% |
581,137
| – | – |
|
|
RAVN
1359
DELISTED
Raven Industries Inc
RAVN
| $25.2M | 0.01% |
702,571
+85,620
| +14% | +$3.14M |
|
|
STL
1360
DELISTED
Sterling Bancorp
STL
| $25.2M | 0.01% |
1,184,443
+180,632
| +18% | +$3.71M |
|
1361
GSK
GSK
$104B
| $25.2M | 0.01% |
502,952
+141,275
| +39% | +$7.09M |
|
1362
Dropbox
DBX
$7.6B
| $25.1M | 0.01% |
1,003,199
| – | – |
|
|
P
1363
Everpure Inc
P
$25.7B
| $25.1M | 0.01% |
1,644,590
+407,358
| +33% | +$7.96M |
|
|
FMBI
1364
DELISTED
First Midwest Bancorp Inc/IL
FMBI
| $25.1M | 0.01% |
1,225,600
| – | – |
|
1365
Hilltop Holdings
HTH
$2.26B
| $25M | 0.01% |
1,176,974
-94,022
| -7% | -$1.9M |
|
1366
Cushman & Wakefield Ltd
CWK
$3.14B
| $25M | 0.01% |
1,399,958
-1,117,787
| -44% | -$20.4M |
|
1367
Bilibili
BILI
$7.99B
| $25M | 0.01% |
1,535,486
+239,835
| +19% | +$3.87M |
|
|
JBTM
1368
JBT Marel
JBTM
$7.21B
| $25M | 0.01% |
206,096
+12,335
| +6% | +$1.33M |
|
|
PRFT
1369
DELISTED
Perficient Inc
PRFT
| $24.9M | 0.01% |
724,420
-103,646
| -13% | -$3.18M |
|
1370
Iridium Communications
IRDM
$5.02B
| $24.9M | 0.01% |
1,068,795
+303,416
| +40% | +$7.55M |
|
1371
ABM Industries
ABM
$2.81B
| $24.8M | 0.01% |
619,697
+31,712
| +5% | +$1.2M |
|
|
QEP
1372
DELISTED
QEP RESOURCES, INC.
QEP
| $24.7M | 0.01% |
3,415,528
| – | – |
|
|
TRTN
1373
DELISTED
Triton International Limited
TRTN
| $24.7M | 0.01% |
753,530
-32,653
| -4% | -$1.03M |
|
1374
Boise Cascade
BCC
$2.69B
| $24.7M | 0.01% |
877,938
| – | – |
|
1375
Tower Semiconductor
TSEM
$24.8B
| $24.7M | 0.01% |
1,582,577
| – | – |
|
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.