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 |
Linde
LIN
|
+$2.66B |
| 2 |
Cigna
CI
|
+$285M |
| 3 |
Boston Properties
BXP
|
+$242M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$242M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1601
FormFactor
FORM
$8.26B
| $13.7M | 0.01% |
973,785
-72,727
| -7% | -$1.01M |
|
1602
Puma Biotechnology
PBYI
$389M
| $13.7M | 0.01% |
674,177
-82,815
| -11% | -$2.49M |
|
1603
Heron Therapeutics
HRTX
$91.2M
| $13.7M | 0.01% |
527,351
+70,912
| +16% | +$1.95M |
|
1604
News Corp Class B
NWS
$16.9B
| $13.7M | 0.01% |
1,182,989
| – | – |
|
1605
SouthState Bank Corp
SSB
$10.2B
| $13.7M | 0.01% |
227,817
| – | – |
|
|
STFC
1606
DELISTED
State Auto Financial Corp
STFC
| $13.6M | 0.01% |
400,961
| – | – |
|
|
TRST
1607
Trustco Bank Corp NY
TRST
$956M
| $13.6M | 0.01% |
397,132
-28,329
| -7% | -$1.07M |
|
1608
National Vision
EYE
$1.78B
| $13.6M | 0.01% |
483,497
+25,000
| +5% | +$952K |
|
1609
Forrester Research
FORR
$214M
| $13.6M | 0.01% |
303,483
-22,993
| -7% | -$981K |
|
1610
ABM Industries
ABM
$2.77B
| $13.5M | 0.01% |
421,712
| – | – |
|
1611
Community Trust Bancorp
CTBI
$1.4B
| $13.5M | 0.01% |
340,669
-23,854
| -7% | -$1.05M |
|
1612
TTEC Holdings
TTEC
$123M
| $13.5M | 0.01% |
471,660
| – | – |
|
|
CATM
1613
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $13.5M | 0.01% |
517,951
-31,887
| -6% | -$966K |
|
1614
Home BancShares
HOMB
$6.21B
| $13.4M | 0.01% |
821,391
-54,818
| -6% | -$1.04M |
|
|
HTO
1615
H2O America
HTO
$2.59B
| $13.3M | 0.01% |
239,647
-80,518
| -25% | -$4.78M |
|
1616
Dine Brands
DIN
$452M
| $13.3M | 0.01% |
197,887
| – | – |
|
1617
Rambus
RMBS
$9.69B
| $13.3M | 0.01% |
1,736,422
| – | – |
|
|
LTXB
1618
DELISTED
LegacyTexas Financial Group Inc
LTXB
| $13.3M | ﹤0.01% |
413,795
| – | – |
|
1619
Regis Corp
RGS
$68.5M
| $13.3M | ﹤0.01% |
39,140
-6,114
| -14% | -$2.18M |
|
1620
NMI Holdings
NMIH
$3.35B
| $13.2M | ﹤0.01% |
740,372
+252,816
| +52% | +$4.92M |
|
1621
Pitney Bowes
PBI
$2.36B
| $13.2M | ﹤0.01% |
2,230,002
| – | – |
|
1622
Dycom Industries
DY
$12.1B
| $13.1M | ﹤0.01% |
243,316
| – | – |
|
1623
Acco Brands
ACCO
$385M
| $13.1M | ﹤0.01% |
1,937,596
| – | – |
|
|
VCRA
1624
DELISTED
VOCERA COMMUNICATIONS, INC.
VCRA
| $13.1M | ﹤0.01% |
333,649
| – | – |
|
|
HIFR
1625
DELISTED
InfraREIT, Inc.
HIFR
| $13.1M | ﹤0.01% |
624,308
| – | – |
|
Similar funds
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.