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 | |
|---|---|---|---|---|---|---|
|
MYOK
1626
DELISTED
MyoKardia, Inc. Common Stock
MYOK
| $13.1M | ﹤0.01% |
267,862
+121,342
| +83% | +$6.68M |
|
1627
Avis
CAR
$5.37B
| $13.1M | ﹤0.01% |
580,889
| – | – |
|
|
RDUS
1628
DELISTED
Radius Recycling
RDUS
| $13M | ﹤0.01% |
603,986
| – | – |
|
1629
Marcus & Millichap
MMI
$1.18B
| $13M | ﹤0.01% |
378,781
| – | – |
|
1630
Cerus
CERS
$579M
| $13M | ﹤0.01% |
2,563,600
+479,375
| +23% | +$2.78M |
|
|
TYPE
1631
DELISTED
Monotype Imaging Holdings Inc.
TYPE
| $13M | ﹤0.01% |
835,385
-108,461
| -11% | -$1.93M |
|
|
WIRE
1632
DELISTED
Encore Wire Corp
WIRE
| $12.9M | ﹤0.01% |
257,802
| – | – |
|
1633
BancFirst
BANF
$3.77B
| $12.9M | ﹤0.01% |
258,855
| – | – |
|
|
DNR
1634
DELISTED
Denbury Resources, Inc.
DNR
| $12.9M | ﹤0.01% |
7,538,888
| – | – |
|
|
TERP
1635
DELISTED
TerraForm Power, Inc
TERP
| $12.9M | ﹤0.01% |
1,147,974
-433,740
| -27% | -$4.88M |
|
|
TRQ
1636
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $12.9M | ﹤0.01% |
780,947
+184,958
| +31% | +$3.33M |
|
1637
Paylocity
PCTY
$7.32B
| $12.8M | ﹤0.01% |
212,902
| – | – |
|
1638
AMC Entertainment Holdings
AMC
$2.47B
| $12.8M | ﹤0.01% |
104,365
+9,955
| +11% | +$1.63M |
|
1639
B&G Foods
BGS
$293M
| $12.8M | ﹤0.01% |
443,203
+33,134
| +8% | +$948K |
|
1640
Amkor Technology
AMKR
$12B
| $12.8M | ﹤0.01% |
1,951,162
| – | – |
|
|
PR
1641
Permian Resources
PR
$17.6B
| $12.8M | ﹤0.01% |
1,160,756
+196,522
| +20% | +$3.37M |
|
|
BRKL
1642
DELISTED
Brookline Bancorp
BRKL
| $12.8M | ﹤0.01% |
924,888
+67,069
| +8% | +$1.01M |
|
1643
LendingTree
TREE
$445M
| $12.7M | ﹤0.01% |
58,008
-12,133
| -17% | -$2.75M |
|
1644
AeroVironment
AVAV
$7.42B
| $12.7M | ﹤0.01% |
186,966
| – | – |
|
|
MRC
1645
DELISTED
MRC Global
MRC
| $12.7M | ﹤0.01% |
1,038,788
| – | – |
|
1646
1st Source
SRCE
$2.16B
| $12.7M | ﹤0.01% |
314,073
| – | – |
|
|
CBM
1647
DELISTED
Cambrex Corporation
CBM
| $12.6M | ﹤0.01% |
334,499
+98,140
| +42% | +$4.97M |
|
1648
Moderna
MRNA
$23B
| $12.6M | ﹤0.01% |
+825,000
| New | +$13.6M |
|
|
MINI
1649
DELISTED
Mobile Mini Inc
MINI
| $12.6M | ﹤0.01% |
395,602
+51,341
| +15% | +$1.99M |
|
|
AIMC
1650
DELISTED
Altra Industrial Motion Corp
AIMC
| $12.6M | ﹤0.01% |
499,110
+82,338
| +20% | +$2.68M |
|
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.