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 |
Walt Disney
DIS
|
+$382M |
| 2 |
Alibaba
BABA
|
+$346M |
| 3 |
Meta Platforms (Facebook)
META
|
+$240M |
| 4 |
Citigroup
C
|
+$223M |
| 5 |
Procter & Gamble
PG
|
+$194M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$631M |
| 2 |
Linde
LIN
|
+$310M |
| 3 |
Alcoa
AA
|
+$208M |
| 4 |
Blackrock
BLK
|
+$158M |
| 5 |
Oracle
ORCL
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.87% |
| 2 | Financials | 16.34% |
| 3 | Healthcare | 13.72% |
| 4 | Consumer Discretionary | 11.63% |
| 5 | Communication Services | 9.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1551
TTM Technologies
TTMI
$12B
| $18.5M | 0.01% |
1,574,709
-308,889
| -16% | -$3.54M |
|
1552
Box
BOX
$4.37B
| $18.5M | 0.01% |
955,539
+41,101
| +4% | +$852K |
|
|
CATM
1553
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $18.4M | 0.01% |
517,951
| – | – |
|
1554
CVR Energy
CVI
$3.58B
| $18.4M | 0.01% |
446,619
-52,816
| -11% | -$2.1M |
|
1555
Renasant Corp
RNST
$3.98B
| $18.4M | 0.01% |
543,599
| – | – |
|
1556
IAMGOLD
IAG
$8.2B
| $18.4M | 0.01% |
5,296,620
| – | – |
|
|
NCI
1557
DELISTED
Navigant Consulting, Inc.
NCI
| $18.4M | 0.01% |
943,235
-81,935
| -8% | -$1.91M |
|
1558
Coca-Cola Consolidated
COKE
$12.5B
| $18.4M | 0.01% |
637,620
+47,170
| +8% | +$1.08M |
|
1559
Caesars Entertainment
CZR
$6.06B
| $18.3M | 0.01% |
391,716
+47,499
| +14% | +$2.17M |
|
1560
Werner Enterprises
WERN
$2.24B
| $18.2M | 0.01% |
534,230
+57,273
| +12% | +$1.91M |
|
|
WAGE
1561
DELISTED
WageWorks, Inc.
WAGE
| $18.2M | 0.01% |
483,121
+63,257
| +15% | +$2.06M |
|
1562
Enpro
NPO
$6.63B
| $18.2M | 0.01% |
281,740
| – | – |
|
1563
Regenxbio
RGNX
$620M
| $18.1M | 0.01% |
316,423
+59,024
| +23% | +$2.92M |
|
1564
Enanta Pharmaceuticals
ENTA
$366M
| $18M | 0.01% |
188,301
+87,975
| +88% | +$7.89M |
|
|
WIRE
1565
DELISTED
Encore Wire Corp
WIRE
| $17.9M | 0.01% |
313,675
+55,873
| +22% | +$3.1M |
|
1566
Omnicell
OMCL
$1.61B
| $17.9M | 0.01% |
221,724
+23,736
| +12% | +$1.78M |
|
1567
BJ's Restaurants
BJRI
$1.42B
| $17.9M | 0.01% |
378,840
-22,079
| -6% | -$1.11M |
|
|
MYOV
1568
DELISTED
Myovant Sciences Ltd.
MYOV
| $17.9M | 0.01% |
750,000
| – | – |
|
1569
HUB Group
HUBG
$2.85B
| $17.9M | 0.01% |
875,990
| – | – |
|
1570
Red Rock Resorts
RRR
$3.77B
| $17.9M | 0.01% |
691,914
| – | – |
|
1571
SiriusPoint
SPNT
$2.75B
| $17.8M | 0.01% |
1,718,484
| – | – |
|
1572
American States Water
AWR
$3.36B
| $17.8M | 0.01% |
249,875
| – | – |
|
|
JBTM
1573
JBT Marel
JBTM
$7.21B
| $17.8M | 0.01% |
193,761
+97,617
| +102% | +$8.24M |
|
|
1574
Alcoa
AA
$11.9B
| $17.8M | 0.01% |
631,743
-7,287,643
| -92% | -$208M |
|
1575
8x8 Inc
EGHT
$269M
| $17.7M | 0.01% |
877,879
+75,820
| +9% | +$1.48M |
|
Similar funds
Norges Bank's Q1 2019 Portfolio in Review
As of Q1 2019, Norges Bank held 2,169 positions worth $310B, up 15% from $269B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 4.1%. Norges Bank opened 45 new positions and exited 43, leaving the 2,169-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2019 buy was Fox Class B: 4,938,483 shares worth $177M.
- Norges Bank added most to Walt Disney in Q1 2019, an estimated $382M increase.
- Norges Bank's biggest Q1 2019 reduction was Linde, cutting an estimated $310M.
- Norges Bank fully exited Twenty-First Century Fox, Inc. Class B in Q1 2019, selling an estimated $631M.
- Norges Bank's ten largest holdings make up 17% of its $310B portfolio in Q1 2019.
- Norges Bank opened 45 new positions and closed 43 in Q1 2019.
- Norges Bank's portfolio value rose 15% quarter-over-quarter to $310B.
Based on Norges Bank's 13F filing for Q1 2019, filed 9 May 2019.