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 |
DuPont de Nemours
DD
|
+$764M |
| 2 |
Lear
LEA
|
+$169M |
| 3 |
Alibaba
BABA
|
+$169M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$168M |
| 5 |
Bank of America
BAC
|
+$156M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Du Pont De Nemours E I
DD
|
+$712M |
| 2 |
Blackrock
BLK
|
+$428M |
| 3 |
Ameriprise Financial
AMP
|
+$273M |
| 4 |
BHI
Baker Hughes
BHI
|
+$220M |
| 5 |
Chemours
CC
|
+$196M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.93% |
| 2 | Technology | 15.97% |
| 3 | Healthcare | 14% |
| 4 | Consumer Discretionary | 9.71% |
| 5 | Industrials | 9.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
251
DELISTED
Praxair Inc
PX
| $212M | 0.08% |
1,517,558
-1,287,633
| -46% | -$172M |
2013 Q2
17 quarters
|
|
252
Hartford Financial Services
HIG
$36.6B
| $212M | 0.08% |
3,821,345
+465,067
| +14% | +$25.3M |
2013 Q2
17 quarters
|
|
|
AGU
253
DELISTED
Agrium
AGU
| $210M | 0.08% |
1,963,413
+700,000
| +55% | +$69.9M |
2013 Q2
17 quarters
|
|
|
ANDV
254
DELISTED
Andeavor
ANDV
| $210M | 0.08% |
2,033,386
+53,087
| +3% | +$5.22M |
2013 Q2
17 quarters
|
|
255
Public Service Enterprise Group
PEG
$35.6B
| $208M | 0.08% |
4,498,113
+248,900
| +6% | +$11.3M |
2013 Q2
17 quarters
|
|
256
Dollar General
DG
$29.6B
| $208M | 0.08% |
2,563,301
+274,127
| +12% | +$20.5M |
2013 Q2
17 quarters
|
|
257
Roper Technologies
ROP
$37.9B
| $208M | 0.08% |
853,103
+51,612
| +6% | +$12.1M |
2013 Q2
17 quarters
|
|
258
Citizens Financial Group
CFG
$26.7B
| $208M | 0.08% |
5,482,722
| – | – |
2014 Q3
12 quarters
|
|
259
Cardinal Health
CAH
$58.8B
| $206M | 0.08% |
3,082,558
+393,356
| +15% | +$27.8M |
2013 Q2
17 quarters
|
|
260
DELISTED
Discover Financial Services
DFS
| $206M | 0.08% |
3,189,607
+94,704
| +3% | +$5.74M |
2013 Q2
17 quarters
|
|
|
261
Chemours
CC
$1.92B
| $205M | 0.08% |
4,060,358
-4,154,658
| -51% | -$196M |
2015 Q3
8 quarters
|
|
|
RHT
262
DELISTED
Red Hat Inc
RHT
| $205M | 0.08% |
1,850,571
+93,301
| +5% | +$9.55M |
2013 Q2
17 quarters
|
|
|
XLNX
263
DELISTED
Xilinx Inc
XLNX
| $202M | 0.08% |
2,854,732
+165,204
| +6% | +$10.8M |
2013 Q2
17 quarters
|
|
|
BCR
264
DELISTED
CR Bard Inc.
BCR
| $201M | 0.08% |
626,456
-46,217
| -7% | -$14.8M |
2013 Q2
17 quarters
|
|
265
T. Rowe Price
TROW
$21.5B
| $200M | 0.08% |
2,209,344
+426,901
| +24% | +$35.3M |
2013 Q2
17 quarters
|
|
266
Devon Energy
DVN
$55.8B
| $200M | 0.08% |
5,436,554
+64,370
| +1% | +$2.09M |
2013 Q2
17 quarters
|
|
267
Principal Financial Group
PFG
$23.3B
| $199M | 0.08% |
3,095,165
| – | – |
2013 Q2
17 quarters
|
|
268
Dell
DELL
$287B
| $199M | 0.08% |
9,184,007
-327,095
| -3% | -$6.3M |
2016 Q3
4 quarters
|
|
269
American Water Works
AWK
$26.8B
| $198M | 0.08% |
2,446,167
-619,541
| -20% | -$50.1M |
2013 Q2
17 quarters
|
|
270
Thomson Reuters
TRI
$47.2B
| $196M | 0.07% |
3,682,190
-85,249
| -2% | -$4.55M |
2013 Q2
17 quarters
|
|
271
Fifth Third Bancorp
FITB
$45.7B
| $195M | 0.07% |
6,970,277
| – | – |
2013 Q2
17 quarters
|
|
272
NetApp
NTAP
$40B
| $194M | 0.07% |
4,435,552
+1,190,257
| +37% | +$49.1M |
2013 Q2
17 quarters
|
|
273
Skyworks Solutions
SWKS
$18.7B
| $192M | 0.07% |
1,885,316
+177,982
| +10% | +$18.5M |
2013 Q2
17 quarters
|
|
274
Fidelity National Financial
FNF
$10.7B
| $192M | 0.07% |
5,817,757
+585,616
| +11% | +$19.2M |
2013 Q2
17 quarters
|
|
275
PACCAR
PCAR
$58.3B
| $192M | 0.07% |
3,974,555
-108,027
| -3% | -$4.87M |
2013 Q2
17 quarters
|
|
Similar funds
Norges Bank's Q3 2017 Portfolio in Review
As of Q3 2017, Norges Bank held 2,207 positions worth $264B, up 4.6% from $252B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q3 2017 filing shows 81 new, 871 increased, 707 reduced and 82 closed positions. Its largest new stake was Alibaba: 1,042,351 shares worth $180M. The largest sale was Du Pont De Nemours E I, an estimated $712M.
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 Q3 2017 buy was Alibaba: 1,042,351 shares worth $180M.
- Norges Bank added most to DuPont de Nemours in Q3 2017, an estimated $764M increase.
- Norges Bank's biggest Q3 2017 reduction was Blackrock, cutting an estimated $428M.
- Norges Bank fully exited Du Pont De Nemours E I in Q3 2017, selling an estimated $712M.
- Norges Bank's ten largest holdings make up 15% of its $264B portfolio in Q3 2017.
- Norges Bank opened 81 new positions and closed 82 in Q3 2017.
- Norges Bank's portfolio value rose 4.6% quarter-over-quarter to $264B.
Based on Norges Bank's 13F filing for Q3 2017, filed 7 Nov 2017.