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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
FIVN icon
1526
FIVE9
FIVN
$2.11B
$16.2M 0.01%
370,626
+168,344
+83% +$6.77M
CHS
1527
DELISTED
Chicos FAS, Inc.
CHS
$16.2M 0.01%
2,881,290
-124,069
-4% -$864K
UCB
1528
United Community Banks
UCB
$4.24B
$16.2M 0.01%
754,317
+78,595
+12% +$1.94M
IMMU
1529
DELISTED
Immunomedics Inc
IMMU
$16.1M 0.01%
1,131,107
+159,391
+16% +$3.16M
FTDR icon
1530
Frontdoor
FTDR
$5.1B
$16.1M 0.01%
+605,854
New +$17.9M
LCII icon
1531
LCI Industries
LCII
$2.49B
$16.1M 0.01%
241,265
+12,861
+6% +$937K
RARE icon
1532
Ultragenyx Pharmaceutical
RARE
$2.45B
$16M 0.01%
369,078
+43,564
+13% +$2.38M
AYR
1533
DELISTED
Aircastle Ltd
AYR
$16M 0.01%
930,235
+50,327
+6% +$958K
MB
1534
DELISTED
MINDBODY, Inc. Class A Common Stock
MB
$16M 0.01%
440,154
+35,752
+9% +$1.09M
NTRI
1535
DELISTED
NutriSystem, Inc.
NTRI
$16M 0.01%
364,901
– –
CPA icon
1536
Copa Holdings
CPA
$5.76B
$16M 0.01%
203,057
– –
CARG icon
1537
CarGurus
CARG
$3.27B
$15.9M 0.01%
472,772
+48,837
+12% +$1.96M
NOVT icon
1538
Novanta
NOVT
$5.08B
$15.9M 0.01%
252,567
+31,711
+14% +$2.04M
PPC icon
1539
Pilgrim's Pride
PPC
$6.51B
$15.8M 0.01%
1,021,361
-86,975
-8% -$1.56M
CTB
1540
DELISTED
Cooper Tire & Rubber Co.
CTB
$15.8M 0.01%
488,741
– –
NYT icon
1541
New York Times
NYT
$12.1B
$15.8M 0.01%
708,745
+36,927
+5% +$936K
GLOB icon
1542
Globant
GLOB
$1.58B
$15.8M 0.01%
279,843
– –
STL
1543
DELISTED
Sterling Bancorp
STL
$15.7M 0.01%
952,998
+261,145
+38% +$4.86M
ACAD icon
1544
Acadia Pharmaceuticals
ACAD
$4.43B
$15.7M 0.01%
971,976
+300,000
+45% +$5.83M
AD
1545
Array Digital Infrastructure
AD
$3.01B
$15.7M 0.01%
301,521
– –
SSTK icon
1546
Shutterstock
SSTK
$198M
$15.7M 0.01%
434,718
– –
SAVE
1547
DELISTED
Spirit Airlines, Inc.
SAVE
$15.6M 0.01%
269,841
– –
OLLI icon
1548
Ollie's Bargain Outlet
OLLI
$4.44B
$15.6M 0.01%
234,820
– –
GCO icon
1549
Genesco
GCO
$425M
$15.6M 0.01%
352,164
– –
FCF icon
1550
First Commonwealth Financial
FCF
$2.18B
$15.6M 0.01%
1,288,576
+71,736
+6% +$986K
60 61
62
63 64

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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.