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 |
Alibaba
BABA
|
+$486M |
| 2 |
Boston Properties
BXP
|
+$368M |
| 3 |
Verizon
VZ
|
+$301M |
| 4 |
Vornado Realty Trust
VNO
|
+$283M |
| 5 |
Baidu
BIDU
|
+$185M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$579M |
| 2 |
Ameriprise Financial
AMP
|
+$297M |
| 3 |
Nucor
NUE
|
+$290M |
| 4 |
Charter Communications
CHTR
|
+$216M |
| 5 |
Aflac
AFL
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.04% |
| 2 | Technology | 16.4% |
| 3 | Healthcare | 13.21% |
| 4 | Consumer Discretionary | 10.32% |
| 5 | Communication Services | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
226
SL Green Realty
SLG
$3.33B
| $256M | 0.09% |
2,618,960
| – | – |
2013 Q2
18 quarters
|
|
227
Hewlett Packard
HPE
$73.2B
| $256M | 0.09% |
17,806,035
-745,527
| -4% | -$10.6M |
2015 Q4
8 quarters
|
|
228
Stanley Black & Decker
SWK
$14B
| $255M | 0.09% |
1,505,343
| – | – |
2013 Q2
18 quarters
|
|
229
DELISTED
Anadarko Petroleum
APC
| $255M | 0.09% |
4,761,754
+41,762
| +0.9% | +$2.05M |
2013 Q2
18 quarters
|
|
230
Williams Companies
WMB
$87.2B
| $254M | 0.09% |
8,333,176
| – | – |
2013 Q2
18 quarters
|
|
231
VF Corp
VFC
$6.62B
| $252M | 0.09% |
3,623,630
| – | – |
2013 Q2
18 quarters
|
|
232
Kroger
KR
$37.6B
| $252M | 0.09% |
9,179,186
| – | – |
2013 Q2
18 quarters
|
|
233
Eastman Chemical
EMN
$7.13B
| $249M | 0.09% |
2,683,956
+333,597
| +14% | +$30.3M |
2013 Q2
18 quarters
|
|
234
Fidelity National Information Services
FIS
$18.6B
| $248M | 0.09% |
2,637,922
+10,714
| +0.4% | +$1.01M |
2013 Q2
18 quarters
|
|
235
Tesla
TSLA
$1.4T
| $245M | 0.09% |
11,824,785
+968,235
| +9% | +$21.1M |
2013 Q2
18 quarters
|
|
236
Dover
DOV
$26.4B
| $245M | 0.09% |
3,003,749
+856,128
| +40% | +$66.3M |
2013 Q2
18 quarters
|
|
237
DXC Technology
DXC
$2.18B
| $244M | 0.09% |
2,968,891
-163,106
| -5% | -$13.2M |
2017 Q2
2 quarters
|
|
238
Axalta
AXTA
$7.16B
| $242M | 0.09% |
7,484,087
-1,795,745
| -19% | -$56.9M |
2015 Q2
10 quarters
|
|
239
DELISTED
SunTrust Banks, Inc.
STI
| $240M | 0.09% |
3,712,514
-242,314
| -6% | -$14.8M |
2013 Q2
18 quarters
|
|
240
Steel Dynamics
STLD
$34.5B
| $238M | 0.09% |
5,513,096
-1,000,000
| -15% | -$38.5M |
2013 Q2
18 quarters
|
|
241
Viatris
VTRS
$21.4B
| $237M | 0.09% |
5,611,772
+1,243,294
| +28% | +$47.5M |
2015 Q3
9 quarters
|
|
242
Xylem
XYL
$24.3B
| $234M | 0.08% |
3,436,156
-42,037
| -1% | -$2.79M |
2013 Q2
18 quarters
|
|
243
Moody's
MCO
$84B
| $233M | 0.08% |
1,578,546
+19,555
| +1% | +$2.87M |
2013 Q2
18 quarters
|
|
244
DELISTED
AvalonBay Communities
AVB
| $232M | 0.08% |
1,298,088
| – | – |
2013 Q2
18 quarters
|
|
245
Citizens Financial Group
CFG
$26.7B
| $230M | 0.08% |
5,482,722
| – | – |
2014 Q3
13 quarters
|
|
246
Keurig Dr Pepper
KDP
$47.1B
| $229M | 0.08% |
2,357,197
+639,373
| +37% | +$57.4M |
2013 Q2
18 quarters
|
|
247
Hartford Financial Services
HIG
$36.6B
| $229M | 0.08% |
4,064,795
+243,450
| +6% | +$13.6M |
2013 Q2
18 quarters
|
|
248
Trane Technologies
TT
$101B
| $228M | 0.08% |
2,552,430
-658,480
| -21% | -$58M |
2013 Q2
18 quarters
|
|
249
Western Digital
WDC
$124B
| $227M | 0.08% |
3,780,847
+281,934
| +8% | +$18.2M |
2013 Q2
18 quarters
|
|
|
PGRE
250
DELISTED
Paramount Group
PGRE
| $225M | 0.08% |
14,223,196
| – | – |
2014 Q4
12 quarters
|
|
Similar funds
Norges Bank's Q4 2017 Portfolio in Review
As of Q4 2017, Norges Bank held 2,177 positions worth $279B, up 5.9% from $264B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Norges Bank's Q4 2017 filing shows 52 new, 713 increased, 679 reduced and 62 closed positions. Its largest new stake was Delphi Technologies PLC Ordinary Shares: 1,452,122 shares worth $76.2M. The largest sale was Blackrock, an estimated $579M.
By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q4 2017 buy was Delphi Technologies PLC Ordinary Shares: 1,452,122 shares worth $76.2M.
- Norges Bank added most to Alibaba in Q4 2017, an estimated $486M increase.
- Norges Bank's biggest Q4 2017 reduction was Blackrock, cutting an estimated $579M.
- Norges Bank fully exited CR Bard Inc. in Q4 2017, selling an estimated $201M.
- Norges Bank's ten largest holdings make up 16% of its $279B portfolio in Q4 2017.
- Norges Bank opened 52 new positions and closed 62 in Q4 2017.
- Norges Bank's portfolio value rose 5.9% quarter-over-quarter to $279B.
Based on Norges Bank's 13F filing for Q4 2017, filed 9 Feb 2018.