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 | |
|---|---|---|---|---|---|---|
1826
NBT Bancorp
NBTB
$2.82B
| $9.33M | ﹤0.01% |
248,776
| – | – |
|
1827
DMC Global
BOOM
$111M
| $9.31M | ﹤0.01% |
146,973
+19,685
| +15% | +$1.31M |
|
|
VTLE
1828
DELISTED
Vital Energy
VTLE
| $9.3M | ﹤0.01% |
160,376
| – | – |
|
|
BZUN
1829
Baozun
BZUN
$179M
| $9.26M | ﹤0.01% |
185,736
| – | – |
|
1830
Astec Industries
ASTE
$1.17B
| $9.14M | ﹤0.01% |
280,817
| – | – |
|
|
CRZO
1831
DELISTED
Carrizo Oil & Gas Inc
CRZO
| $9.14M | ﹤0.01% |
912,213
| – | – |
|
1832
Gran Tierra Energy
GTE
$236M
| $9.1M | ﹤0.01% |
574,647
| – | – |
|
1833
Sabesp
SBS
$18.4B
| $9.09M | ﹤0.01% |
3,849,581
| – | – |
|
|
LKFT
1834
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.82B
| $9.03M | ﹤0.01% |
70,000
| – | – |
|
|
PDS
1835
Precision Drilling
PDS
$946M
| $9M | ﹤0.01% |
238,972
| – | – |
|
1836
ePlus
PLUS
$2.43B
| $8.93M | ﹤0.01% |
+258,940
| New | +$10.8M |
|
1837
Tredegar Corp
TG
$260M
| $8.89M | ﹤0.01% |
534,653
| – | – |
|
1838
Virtus Investment Partners
VRTS
$1.12B
| $8.88M | ﹤0.01% |
82,701
| – | – |
|
1839
Adecoagro
AGRO
$1.4B
| $8.87M | ﹤0.01% |
1,242,129
-145,772
| -11% | -$996K |
|
|
WW
1840
DELISTED
WW International
WW
| $8.81M | ﹤0.01% |
461,429
| – | – |
|
1841
Adtran
ADTN
$675M
| $8.69M | ﹤0.01% |
569,927
| – | – |
|
|
WBT
1842
DELISTED
Welbilt, Inc.
WBT
| $8.67M | ﹤0.01% |
519,133
-63,411
| -11% | -$1.04M |
|
1843
SFL Corp
SFL
$1.61B
| $8.65M | ﹤0.01% |
691,147
+82,781
| +14% | +$1.05M |
|
1844
Madrigal Pharmaceuticals
MDGL
$12.6B
| $8.63M | ﹤0.01% |
82,350
| – | – |
|
1845
Ethan Allen Interiors
ETD
$600M
| $8.48M | ﹤0.01% |
402,465
-95,485
| -19% | -$2M |
|
1846
Hyster-Yale Materials Handling
HY
$576M
| $8.46M | ﹤0.01% |
153,150
| – | – |
|
|
GLOG
1847
DELISTED
GASLOG LTD
GLOG
| $8.45M | ﹤0.01% |
586,794
+221,101
| +60% | +$3.34M |
|
|
AEGN
1848
DELISTED
Aegion Corp
AEGN
| $8.44M | ﹤0.01% |
458,844
-65,359
| -12% | -$1.11M |
|
1849
Inspire Medical Systems
INSP
$1.47B
| $8.43M | ﹤0.01% |
+139,041
| New | +$7.49M |
|
1850
National Vision
EYE
$1.76B
| $8.4M | ﹤0.01% |
273,485
-210,012
| -43% | -$6.02M |
|
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.