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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
DORM icon
1451
Dorman Products
DORM
$3.98B
$18.5M 0.01%
205,124
+14,677
+8% +$1.17M
NWN icon
1452
Northwest Natural Holdings
NWN
$2.06B
$18.5M 0.01%
305,370
+333
+0.1% +$22.3K
PRFT
1453
DELISTED
Perficient Inc
PRFT
$18.4M 0.01%
828,066
-19,415
-2% -$476K
CHRD icon
1454
Chord Energy
CHRD
$7.9B
$18.4M 0.01%
3,332,893
+432,691
+15% +$3.93M
BIG
1455
DELISTED
Big Lots, Inc.
BIG
$18.4M 0.01%
636,002
-24,336
-4% -$946K
RGEN icon
1456
Repligen
RGEN
$7.96B
$18.4M 0.01%
347,964
– –
PBH icon
1457
Prestige Consumer Healthcare
PBH
$2.38B
$18.3M 0.01%
593,527
-52,742
-8% -$1.92M
TTMI icon
1458
TTM Technologies
TTMI
$12B
$18.3M 0.01%
1,883,598
– –
RDC
1459
DELISTED
Rowan Companies Plc
RDC
$18.3M 0.01%
2,177,786
– –
ABG icon
1460
Asbury Automotive
ABG
$4.31B
$18.3M 0.01%
273,809
-29,852
-10% -$1.96M
AMRX icon
1461
Amneal Pharmaceuticals
AMRX
$5.85B
$18.2M 0.01%
1,348,373
+109,517
+9% +$1.97M
APOG icon
1462
Apogee Enterprises
APOG
$826M
$18.2M 0.01%
608,799
-27,173
-4% -$973K
IMAX icon
1463
IMAX
IMAX
$2.62B
$18.2M 0.01%
965,928
– –
PMT
1464
PennyMac Mortgage Investment
PMT
$822M
$18M 0.01%
966,953
– –
SAIA icon
1465
Saia
SAIA
$9.25B
$18M 0.01%
322,384
+50,896
+19% +$3.09M
CSIQ icon
1466
Canadian Solar
CSIQ
$1.02B
$18M 0.01%
1,252,849
– –
PDCO
1467
DELISTED
Patterson Companies, Inc.
PDCO
$17.9M 0.01%
912,453
– –
PCRX icon
1468
Pacira BioSciences
PCRX
$1.04B
$17.9M 0.01%
416,208
+42,427
+11% +$1.98M
LILAK icon
1469
Liberty Latin America Class C
LILAK
$1.63B
$17.8M 0.01%
1,430,988
– –
GBT
1470
DELISTED
Global Blood Therapeutics, Inc.
GBT
$17.8M 0.01%
434,259
+172,564
+66% +$6.47M
SYNA icon
1471
Synaptics
SYNA
$4.19B
$17.8M 0.01%
478,393
– –
TPH
1472
DELISTED
Tri Pointe Homes
TPH
$17.8M 0.01%
1,627,565
-79,491
-5% -$940K
WW
1473
DELISTED
WW International
WW
$17.8M 0.01%
461,429
– –
MTOR
1474
DELISTED
MERITOR, Inc.
MTOR
$17.7M 0.01%
1,049,213
– –
GRPN icon
1475
Groupon
GRPN
$1.05B
$17.7M 0.01%
277,068
– –
57 58
59
60 61

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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.