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 | |
|---|---|---|---|---|---|---|---|
251
Devon Energy
DVN
$55.8B
| $225M | 0.08% |
5,436,554
| – | – |
2013 Q2
18 quarters
|
|
|
RHT
252
DELISTED
Red Hat Inc
RHT
| $222M | 0.08% |
1,850,571
| – | – |
2013 Q2
18 quarters
|
|
253
International Paper
IP
$18B
| $222M | 0.08% |
4,048,728
-101,930
| -2% | -$5.47M |
2013 Q2
18 quarters
|
|
254
Roper Technologies
ROP
$37.9B
| $222M | 0.08% |
857,104
+4,001
| +0.5% | +$1.03M |
2013 Q2
18 quarters
|
|
255
American Water Works
AWK
$26.8B
| $222M | 0.08% |
2,421,202
-24,965
| -1% | -$2.21M |
2013 Q2
18 quarters
|
|
|
ANDV
256
DELISTED
Andeavor
ANDV
| $221M | 0.08% |
1,932,586
-100,800
| -5% | -$10.8M |
2013 Q2
18 quarters
|
|
257
Amphenol
APH
$196B
| $221M | 0.08% |
20,111,464
| – | – |
2013 Q2
18 quarters
|
|
258
Manulife Financial
MFC
$73.4B
| $221M | 0.08% |
10,546,462
+1,497,591
| +17% | +$31.1M |
2013 Q2
18 quarters
|
|
259
Johnson Controls International
JCI
$88.1B
| $220M | 0.08% |
5,781,797
-46,681
| -0.8% | -$1.82M |
2013 Q2
18 quarters
|
|
260
Marsh
MRSH
$89.9B
| $220M | 0.08% |
2,703,526
+1,054,242
| +64% | +$87.6M |
2013 Q2
18 quarters
|
|
261
Edison International
EIX
$21.5B
| $217M | 0.08% |
3,433,544
-99,106
| -3% | -$7.56M |
2013 Q2
18 quarters
|
|
262
Incyte
INCY
$22.9B
| $216M | 0.08% |
2,283,505
+197,793
| +9% | +$20.7M |
2013 Q2
18 quarters
|
|
263
Estee Lauder
EL
$37.9B
| $215M | 0.08% |
1,689,916
+73,209
| +5% | +$8.79M |
2013 Q2
18 quarters
|
|
|
CONE
264
DELISTED
CyrusOne Inc Common Stock
CONE
| $214M | 0.08% |
3,593,114
-250,000
| -7% | -$15.2M |
2014 Q4
12 quarters
|
|
265
Allstate
ALL
$62.7B
| $214M | 0.08% |
2,041,333
+94,588
| +5% | +$9.32M |
2013 Q2
18 quarters
|
|
|
INXN
266
DELISTED
Interxion Holding N.V.
INXN
| $213M | 0.08% |
3,620,570
+106,200
| +3% | +$5.88M |
2013 Q2
18 quarters
|
|
267
Royal Gold
RGLD
$20.2B
| $212M | 0.08% |
2,584,361
-187,116
| -7% | -$16M |
2015 Q4
8 quarters
|
|
268
Vivmark Residential
VMRK
$47.4B
| $212M | 0.08% |
3,325,283
-7,645
| -0.2% | -$510K |
2013 Q2
18 quarters
|
|
269
Welltower
WELL
$169B
| $211M | 0.08% |
3,308,174
+59,453
| +2% | +$3.99M |
2013 Q2
18 quarters
|
|
|
CTXS
270
DELISTED
Citrix Systems Inc
CTXS
| $209M | 0.08% |
2,379,179
| – | – |
2013 Q2
18 quarters
|
|
271
Goodyear
GT
$1.24B
| $208M | 0.07% |
6,440,281
+1,379,993
| +27% | +$43.8M |
2013 Q2
18 quarters
|
|
272
NetApp
NTAP
$40B
| $206M | 0.07% |
3,729,287
-706,265
| -16% | -$35.4M |
2013 Q2
18 quarters
|
|
273
Dell
DELL
$287B
| $206M | 0.07% |
9,043,352
-140,655
| -2% | -$3.19M |
2016 Q3
5 quarters
|
|
274
Principal Financial Group
PFG
$23.3B
| $206M | 0.07% |
2,923,498
-171,667
| -6% | -$11.8M |
2013 Q2
18 quarters
|
|
275
Archer Daniels Midland
ADM
$39.8B
| $206M | 0.07% |
5,142,026
| – | – |
2013 Q2
18 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.