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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
-13.42%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$269B
AUM Growth
-$39.1B
Cap. Flow
+$7.83B
Cap. Flow %
2.91%
Top 10 Hldgs %
16.28%
Holding
2,178
New
36
Increased
834
Reduced
365
Closed
54

Top Buys

Rank Stock Value
1
LIN icon
Linde
LIN
+$2.66B
2
CI icon
Cigna
CI
+$285M
3
BXP icon
Boston Properties
BXP
+$242M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$242M
5
APTV icon
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
HA
1401
DELISTED
Hawaiian Holdings, Inc.
HA
$19.9M 0.01%
755,179
+168,893
+29% +$5.72M
VNE
1402
DELISTED
Veoneer, Inc.
VNE
$19.9M 0.01%
844,896
+205,654
+32% +$7.23M
CNA icon
1403
CNA Financial
CNA
$14.2B
$19.9M 0.01%
450,541
– –
PHG icon
1404
Philips
PHG
$25.7B
$19.9M 0.01%
729,801
– –
TILE icon
1405
Interface
TILE
$1.99B
$19.8M 0.01%
1,392,124
-45,024
-3% -$774K
CRS icon
1406
Carpenter Technology
CRS
$25.8B
$19.8M 0.01%
556,440
+22,851
+4% +$1.03M
FOXF icon
1407
Fox Factory Holding Corp
FOXF
$755M
$19.8M 0.01%
336,590
+217,821
+183% +$13.6M
MDRX
1408
DELISTED
Veradigm Inc. Common Stock
MDRX
$19.8M 0.01%
2,051,345
– –
BMI icon
1409
Badger Meter
BMI
$3.89B
$19.8M 0.01%
401,700
– –
BKD icon
1410
Brookdale Senior Living
BKD
$3.49B
$19.8M 0.01%
2,949,655
+223,964
+8% +$1.88M
SFNC icon
1411
Simmons First National
SFNC
$3.41B
$19.7M 0.01%
815,516
+71,960
+10% +$1.94M
MNTA
1412
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$19.7M 0.01%
1,781,990
+718,672
+68% +$10M
RRC icon
1413
Range Resources
RRC
$9.38B
$19.6M 0.01%
2,047,555
+55,834
+3% +$849K
BYD icon
1414
Boyd Gaming
BYD
$6.32B
$19.6M 0.01%
942,927
– –
IRWD icon
1415
Ironwood Pharmaceuticals
IRWD
$696M
$19.6M 0.01%
2,255,238
+533,497
+31% +$6.12M
CPS icon
1416
Cooper-Standard Automotive
CPS
$523M
$19.5M 0.01%
314,670
+10,292
+3% +$831K
TBI
1417
Trueblue
TBI
$215M
$19.5M 0.01%
878,341
-49,990
-5% -$1.2M
PNFP icon
1418
Pinnacle Financial Partners Inc
PNFP
$15.9B
$19.5M 0.01%
423,156
+112,940
+36% +$5.99M
TRTN
1419
DELISTED
Triton International Limited
TRTN
$19.5M 0.01%
626,409
+28,465
+5% +$918K
IAG icon
1420
IAMGOLD
IAG
$8.2B
$19.5M 0.01%
5,296,620
– –
HOUS
1421
DELISTED
Anywhere Real Estate
HOUS
$19.4M 0.01%
1,319,595
– –
AVTA
1422
DELISTED
Avantax, Inc. Common Stock
AVTA
$19.4M 0.01%
726,756
– –
PCH
1423
DELISTED
PotlatchDeltic
PCH
$19.3M 0.01%
610,652
+94,870
+18% +$3.39M
DISH
1424
DELISTED
DISH Network Corp.
DISH
$19.3M 0.01%
773,550
-1,168,254
-60% -$36.7M
HEI icon
1425
HEICO Corp
HEI
$49.8B
$19.3M 0.01%
249,249
-126,811
-34% -$10.6M
55 56
57
58 59

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VRS
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FAF
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BGIM
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CIM
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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.