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 | |
|---|---|---|---|---|---|---|
1751
Knowles
KN
$3.08B
| $9.77M | ﹤0.01% |
734,151
+650,803
| +781% | +$9.53M |
|
|
CYOU
1752
DELISTED
Changyou.com Limited American Depositary Share
CYOU
| $9.76M | ﹤0.01% |
533,676
| – | – |
|
1753
Stratasys
SSYS
$697M
| $9.73M | ﹤0.01% |
540,463
+295,000
| +120% | +$6.17M |
|
1754
Kearny Financial
KRNY
$606M
| $9.73M | ﹤0.01% |
759,031
| – | – |
|
1755
National CineMedia
NCMI
$375M
| $9.72M | ﹤0.01% |
149,930
| – | – |
|
1756
WSFS Financial
WSFS
$4.1B
| $9.67M | ﹤0.01% |
255,168
| – | – |
|
1757
Adecoagro
AGRO
$1.47B
| $9.66M | ﹤0.01% |
1,387,901
-275,133
| -17% | -$2.01M |
|
1758
Pricesmart
PSMT
$5.94B
| $9.64M | ﹤0.01% |
163,180
| – | – |
|
|
VSTO
1759
DELISTED
Vista Outdoor Inc.
VSTO
| $9.61M | ﹤0.01% |
846,684
| – | – |
|
1760
Varonis Systems
VRNS
$4.58B
| $9.6M | ﹤0.01% |
544,308
+132,246
| +32% | +$2.61M |
|
|
CUB
1761
DELISTED
Cubic Corporation
CUB
| $9.59M | ﹤0.01% |
178,403
+134,727
| +308% | +$8.49M |
|
1762
Interparfums
IPAR
$4.02B
| $9.53M | ﹤0.01% |
145,316
+67,376
| +86% | +$4.05M |
|
1763
Hyster-Yale Materials Handling
HY
$600M
| $9.49M | ﹤0.01% |
153,150
-13,991
| -8% | -$872K |
|
|
AEGN
1764
DELISTED
Aegion Corp
AEGN
| $9.46M | ﹤0.01% |
579,604
-55,432
| -9% | -$1.11M |
|
1765
Tredegar Corp
TG
$262M
| $9.46M | ﹤0.01% |
596,191
-235,025
| -28% | -$4.2M |
|
1766
Penske Automotive Group
PAG
$14.5B
| $9.44M | ﹤0.01% |
234,085
| – | – |
|
1767
Corcept Therapeutics
CORT
$12.7B
| $9.42M | ﹤0.01% |
705,325
| – | – |
|
|
FSP
1768
Franklin Street Properties
FSP
$48.1M
| $9.39M | ﹤0.01% |
1,506,720
-137,362
| -8% | -$1.01M |
|
|
WPG
1769
DELISTED
Washington Prime Group Inc.
WPG
| $9.36M | ﹤0.01% |
213,911
| – | – |
|
1770
Madrigal Pharmaceuticals
MDGL
$11.4B
| $9.28M | ﹤0.01% |
82,350
+21,396
| +35% | +$3.31M |
|
|
GOOS
1771
Canada Goose Holdings
GOOS
$904M
| $9.27M | ﹤0.01% |
212,179
+143,035
| +207% | +$7.97M |
|
|
SIR
1772
DELISTED
SELECT INCOME REIT
SIR
| $9.25M | ﹤0.01% |
1,257,014
-920,193
| -42% | -$7.72M |
|
|
CJ
1773
DELISTED
C&J Energy Services, Inc.
CJ
| $9.23M | ﹤0.01% |
684,037
+48,923
| +8% | +$873K |
|
|
BITA
1774
DELISTED
Bitauto Holdings Limited
BITA
| $9.22M | ﹤0.01% |
372,312
| – | – |
|
1775
Opko Health
OPK
$993M
| $9.21M | ﹤0.01% |
3,058,773
| – | – |
|
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.