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 | |
|---|---|---|---|---|---|---|
176
Tesla
TSLA
$1.18T
| $364M | 0.11% |
24,456,750
+4,346,790
| +22% | +$67.7M |
|
|
APC
177
DELISTED
Anadarko Petroleum
APC
| $362M | 0.11% |
5,125,284
-700,737
| -12% | -$47M |
|
178
Canadian Pacific Kansas City
CP
$81B
| $362M | 0.11% |
7,670,085
-206,675
| -3% | -$9.23M |
|
179
Public Storage
PSA
$61.5B
| $361M | 0.11% |
1,515,766
-5,618
| -0.4% | -$1.29M |
|
|
180
Dow Inc
DOW
$22B
| $359M | 0.11% |
+7,278,184
| New | +$384M |
|
181
Sherwin-Williams
SHW
$84.8B
| $358M | 0.11% |
2,345,034
+75,405
| +3% | +$11.3M |
|
182
Ross Stores
ROST
$80.8B
| $358M | 0.11% |
3,608,887
| – | – |
|
|
WP
183
DELISTED
Worldpay, Inc.
WP
| $357M | 0.11% |
2,916,885
-67,175
| -2% | -$7.97M |
|
|
ATVI
184
DELISTED
Activision Blizzard
ATVI
| $357M | 0.11% |
7,559,573
-133,312
| -2% | -$6.12M |
|
|
BNY
185
Bank of New York Mellon
BNY
$103B
| $353M | 0.11% |
7,998,917
-157,311
| -2% | -$7.39M |
|
186
Humana
HUM
$43.9B
| $352M | 0.11% |
1,325,132
-34,626
| -3% | -$8.78M |
|
187
Autodesk
ADSK
$51.8B
| $351M | 0.11% |
2,157,563
-67,037
| -3% | -$11.3M |
|
188
Truist Financial
TFC
$63.9B
| $345M | 0.11% |
7,019,307
| – | – |
|
|
FISV
189
Fiserv Inc
FISV
$29.7B
| $339M | 0.1% |
3,720,836
| – | – |
|
190
Roper Technologies
ROP
$40.4B
| $336M | 0.1% |
917,126
+1,381
| +0.2% | +$490K |
|
191
Sysco
SYY
$40.8B
| $335M | 0.1% |
4,733,945
| – | – |
|
192
DaVita
DVA
$15.5B
| $333M | 0.1% |
5,923,174
+2,212,723
| +60% | +$115M |
|
|
RHT
193
DELISTED
Red Hat Inc
RHT
| $332M | 0.1% |
1,768,263
+11,982
| +0.7% | +$2.21M |
|
194
NXP Semiconductors
NXPI
$60.8B
| $331M | 0.1% |
3,388,783
| – | – |
|
195
Canadian Imperial Bank of Commerce
CM
$106B
| $331M | 0.1% |
8,394,288
-286,304
| -3% | -$11.5M |
|
196
Yum! Brands
YUM
$41.9B
| $330M | 0.1% |
2,978,623
-201,783
| -6% | -$21M |
|
197
Canadian Natural Resources
CNQ
$96.9B
| $328M | 0.1% |
24,794,509
+224,620
| +0.9% | +$3.09M |
|
198
FedEx
FDX
$73B
| $328M | 0.1% |
1,995,459
| – | – |
|
199
eBay
EBAY
$51.2B
| $327M | 0.1% |
8,283,345
-522,262
| -6% | -$19.6M |
|
200
JD.com
JD
$43.5B
| $323M | 0.1% |
10,657,120
+376,806
| +4% | +$10.8M |
|
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.