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 |
Walt Disney
DIS
|
+$382M |
| 2 |
Alibaba
BABA
|
+$346M |
| 3 |
Meta Platforms (Facebook)
META
|
+$240M |
| 4 |
Citigroup
C
|
+$223M |
| 5 |
Procter & Gamble
PG
|
+$194M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$631M |
| 2 |
Linde
LIN
|
+$310M |
| 3 |
Alcoa
AA
|
+$208M |
| 4 |
Blackrock
BLK
|
+$158M |
| 5 |
Oracle
ORCL
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.87% |
| 2 | Financials | 16.34% |
| 3 | Healthcare | 13.72% |
| 4 | Consumer Discretionary | 11.63% |
| 5 | Communication Services | 9.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1926
AudioCodes
AUDC
$235M
| $5.67M | ﹤0.01% |
414,614
| – | – |
|
1927
Ambarella
AMBA
$3.25B
| $5.62M | ﹤0.01% |
130,153
+26,688
| +26% | +$1.06M |
|
|
CO
1928
DELISTED
Global Cord Blood Corporation
CO
| $5.59M | ﹤0.01% |
797,026
+152,671
| +24% | +$1.01M |
|
1929
Shake Shack
SHAK
$2.54B
| $5.5M | ﹤0.01% |
92,962
+76,601
| +468% | +$3.92M |
|
1930
Zai Lab
ZLAB
$2.06B
| $5.45M | ﹤0.01% |
+184,832
| New | +$5.06M |
|
1931
Orion
OEC
$381M
| $5.41M | ﹤0.01% |
285,067
+97,926
| +52% | +$2.46M |
|
|
PVG
1932
DELISTED
PRETIUM RESOURCES INC.
PVG
| $5.38M | ﹤0.01% |
628,877
-232,320
| -27% | -$1.85M |
|
1933
Gates Industrial Corporation Ltd.
GTES
$6.53B
| $5.37M | ﹤0.01% |
374,581
-1,200,000
| -76% | -$18.1M |
|
|
TLRD
1934
DELISTED
Tailored Brands, Inc.
TLRD
| $5.25M | ﹤0.01% |
669,662
| – | – |
|
1935
Matsons
MATX
$6.16B
| $5.19M | ﹤0.01% |
143,809
| – | – |
|
1936
E.W. Scripps
SSP
$259M
| $5.18M | ﹤0.01% |
246,649
+160,813
| +187% | +$3.2M |
|
1937
Scorpio Tankers
STNG
$3.76B
| $5.12M | ﹤0.01% |
+258,079
| New | +$4.89M |
|
|
VSTO
1938
DELISTED
Vista Outdoor Inc.
VSTO
| $5.11M | ﹤0.01% |
638,437
-208,247
| -25% | -$2.04M |
|
1939
Replimune Group
REPL
| $5.1M | ﹤0.01% |
335,000
| – | – |
|
|
WAIR
1940
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
| $5.08M | ﹤0.01% |
577,899
| – | – |
|
1941
Columbia Financial
CLBK
$1.14B
| $4.97M | ﹤0.01% |
316,984
+190,998
| +152% | +$2.97M |
|
|
RDUS
1942
DELISTED
Radius Health, Inc.
RDUS
| $4.91M | ﹤0.01% |
246,050
| – | – |
|
1943
AAR Corp
AIR
$5.56B
| $4.81M | ﹤0.01% |
148,022
-84,214
| -36% | -$3.05M |
|
1944
Scholar Rock
SRRK
$5.87B
| $4.79M | ﹤0.01% |
255,000
| – | – |
|
|
CEL
1945
DELISTED
Cellcom Israel, Ltd.
CEL
| $4.63M | ﹤0.01% |
1,279,671
| – | – |
|
1946
Cactus
WHD
$4.97B
| $4.63M | ﹤0.01% |
130,000
+80,000
| +160% | +$2.73M |
|
|
ZGNX
1947
DELISTED
Zogenix, Inc.
ZGNX
| $4.6M | ﹤0.01% |
+83,646
| New | +$3.98M |
|
1948
Accuray
ARAY
$34M
| $4.6M | ﹤0.01% |
963,891
| – | – |
|
1949
Sony
SONY
$134B
| $4.55M | ﹤0.01% |
538,250
| – | – |
|
1950
Standard BioTools
LAB
$351M
| $4.5M | ﹤0.01% |
338,347
+74,128
| +28% | +$781K |
|
Similar funds
Norges Bank's Q1 2019 Portfolio in Review
As of Q1 2019, Norges Bank held 2,169 positions worth $310B, up 15% from $269B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Trading was light in Q1 2019: portfolio turnover was 4.1%. Norges Bank opened 45 new positions and exited 43, leaving the 2,169-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2019 buy was Fox Class B: 4,938,483 shares worth $177M.
- Norges Bank added most to Walt Disney in Q1 2019, an estimated $382M increase.
- Norges Bank's biggest Q1 2019 reduction was Linde, cutting an estimated $310M.
- Norges Bank fully exited Twenty-First Century Fox, Inc. Class B in Q1 2019, selling an estimated $631M.
- Norges Bank's ten largest holdings make up 17% of its $310B portfolio in Q1 2019.
- Norges Bank opened 45 new positions and closed 43 in Q1 2019.
- Norges Bank's portfolio value rose 15% quarter-over-quarter to $310B.
Based on Norges Bank's 13F filing for Q1 2019, filed 9 May 2019.