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 |
Alcon
ALC
|
+$602M |
| 2 |
Alexandria Real Estate Equities
ARE
|
+$488M |
| 3 |
Dow Inc
DOW
|
+$384M |
| 4 |
UBS Group
UBS
|
+$245M |
| 5 |
Regency Centers
REG
|
+$175M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameriprise Financial
AMP
|
+$280M |
| 2 |
Johnson Controls International
JCI
|
+$235M |
| 3 |
Linde
LIN
|
+$197M |
| 4 |
Baxter International
BAX
|
+$193M |
| 5 |
DuPont de Nemours
DD
|
+$140M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.05% |
| 2 | Financials | 16.91% |
| 3 | Healthcare | 13.48% |
| 4 | Consumer Discretionary | 11.5% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1751
AeroVironment
AVAV
$7.19B
| $11.6M | ﹤0.01% |
204,899
+17,933
| +10% | +$1.18M |
|
|
HAPN
1752
Happen Inc
HAPN
$2.14B
| $11.6M | ﹤0.01% |
708,008
+129,450
| +22% | +$2.04M |
|
1753
FormFactor
FORM
$6.51B
| $11.6M | ﹤0.01% |
740,584
-233,201
| -24% | -$3.82M |
|
|
TIVO
1754
DELISTED
Tivo Inc
TIVO
| $11.6M | ﹤0.01% |
1,572,263
| – | – |
|
|
TEN
1755
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $11.5M | ﹤0.01% |
1,039,201
-462,560
| -31% | -$7.56M |
|
|
AERI
1756
DELISTED
Aerie Pharmaceuticals
AERI
| $11.5M | ﹤0.01% |
389,821
+42,765
| +12% | +$1.65M |
|
|
CUB
1757
DELISTED
Cubic Corporation
CUB
| $11.5M | ﹤0.01% |
178,403
| – | – |
|
1758
B&G Foods
BGS
$303M
| $11.4M | ﹤0.01% |
549,457
+106,254
| +24% | +$2.45M |
|
|
HTT
1759
High Templar Tech Ltd
HTT
$370M
| $11.4M | ﹤0.01% |
1,519,268
| – | – |
|
|
ECOL
1760
DELISTED
US Ecology, Inc.
ECOL
| $11.4M | ﹤0.01% |
191,302
| – | – |
|
1761
AnaptysBio
ANAB
$1.54B
| $11.4M | ﹤0.01% |
201,826
+56,836
| +39% | +$4.09M |
|
1762
ATN International
ATNI
$365M
| $11.3M | ﹤0.01% |
195,933
| – | – |
|
1763
The RMR Group
RMR
$335M
| $11.2M | ﹤0.01% |
238,496
+125,000
| +110% | +$6.73M |
|
1764
Shake Shack
SHAK
$2.54B
| $11.2M | ﹤0.01% |
154,982
+62,020
| +67% | +$3.83M |
|
1765
Baytex Energy
BTE
$2.96B
| $11.1M | ﹤0.01% |
7,161,119
-619,701
| -8% | -$1.12M |
|
|
FSP
1766
Franklin Street Properties
FSP
$49.8M
| $11.1M | ﹤0.01% |
1,506,720
| – | – |
|
|
EPZM
1767
DELISTED
Epizyme, Inc
EPZM
| $11.1M | ﹤0.01% |
885,617
-245,077
| -22% | -$3.15M |
|
1768
Penske Automotive Group
PAG
$14.7B
| $11.1M | ﹤0.01% |
234,085
| – | – |
|
1769
Alamos Gold
AGI
$12B
| $11M | ﹤0.01% |
1,815,127
| – | – |
|
|
FFG
1770
DELISTED
FBL Financial Group
FFG
| $11M | ﹤0.01% |
171,876
| – | – |
|
1771
Nabors Industries
NBR
$1.17B
| $10.9M | ﹤0.01% |
75,342
| – | – |
|
|
FIT
1772
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $10.8M | ﹤0.01% |
2,461,043
| – | – |
|
|
SAFE
1773
Safehold
SAFE
$1.17B
| $10.8M | ﹤0.01% |
178,819
| – | – |
|
1774
Pricesmart
PSMT
$5.94B
| $10.8M | ﹤0.01% |
210,837
| – | – |
|
|
NTUS
1775
DELISTED
Natus Medical Inc
NTUS
| $10.7M | ﹤0.01% |
416,878
| – | – |
|
Similar funds
Norges Bank's Q2 2019 Portfolio in Review
As of Q2 2019, Norges Bank held 2,175 positions worth $324B, up 4.5% from $310B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Norges Bank's Q2 2019 filing shows 49 new, 658 increased, 482 reduced and 69 closed positions. Its largest new stake was Alcon: 10,263,150 shares worth $635M. The largest sale was Ameriprise Financial, an estimated $280M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2019 buy was Alcon: 10,263,150 shares worth $635M.
- Norges Bank added most to Alexandria Real Estate Equities in Q2 2019, an estimated $488M increase.
- Norges Bank's biggest Q2 2019 reduction was Ameriprise Financial, cutting an estimated $280M.
- Norges Bank fully exited Johnson Controls International in Q2 2019, selling an estimated $235M.
- Norges Bank's ten largest holdings make up 17% of its $324B portfolio in Q2 2019.
- Norges Bank opened 49 new positions and closed 69 in Q2 2019.
- Norges Bank's portfolio value rose 4.5% quarter-over-quarter to $324B.
Based on Norges Bank's 13F filing for Q2 2019, filed 9 Aug 2019.