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 |
Apple
AAPL
|
+$376M |
| 2 |
Meta Platforms (Facebook)
META
|
+$341M |
| 3 |
TechnipFMC
FTI
|
+$267M |
| 4 |
Enbridge
ENB
|
+$226M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$200M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aflac
AFL
|
+$533M |
| 2 |
Prudential Financial
PRU
|
+$330M |
| 3 |
SE
Spectra Energy Corp Wi
SE
|
+$224M |
| 4 |
Deutsche Bank
DB
|
+$175M |
| 5 |
Blackrock
BLK
|
+$168M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.68% |
| 2 | Technology | 15.63% |
| 3 | Healthcare | 13.78% |
| 4 | Consumer Discretionary | 9.51% |
| 5 | Industrials | 9.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
United Rentals
URI
$63.4B
| $135M | 0.06% |
1,082,745
-27,849
| -3% | -$3.39M |
|
327
Regions Financial
RF
$24.9B
| $134M | 0.06% |
9,246,012
-277,016
| -3% | -$4.09M |
|
|
WFM
328
DELISTED
Whole Foods Market Inc
WFM
| $134M | 0.05% |
4,502,924
-877,799
| -16% | -$26.4M |
|
329
J.M. Smucker
SJM
$13.2B
| $134M | 0.05% |
1,018,539
-66,718
| -6% | -$9.07M |
|
330
Liberty Global Class C
LBTYK
$3.43B
| $133M | 0.05% |
3,808,274
+904,484
| +31% | +$31.2M |
|
331
Genuine Parts
GPC
$18.3B
| $133M | 0.05% |
1,437,535
-234,205
| -14% | -$22.5M |
|
|
WRK
332
DELISTED
WestRock Company
WRK
| $133M | 0.05% |
2,552,190
+156,488
| +7% | +$8.26M |
|
|
VIAB
333
DELISTED
Viacom Inc. Class B
VIAB
| $132M | 0.05% |
2,838,402
-404,390
| -12% | -$17.1M |
|
334
Magna International
MGA
$17.2B
| $132M | 0.05% |
3,071,187
-374,012
| -11% | -$16.4M |
|
335
Wheaton Precious Metals
WPM
$67.7B
| $131M | 0.05% |
6,273,972
+88,299
| +1% | +$1.84M |
|
336
Ulta Beauty
ULTA
$22.9B
| $130M | 0.05% |
457,344
-116,713
| -20% | -$31.9M |
|
337
Bread Financial
BFH
$4.2B
| $130M | 0.05% |
655,892
+218,139
| +50% | +$41.3M |
|
338
Entergy
ETR
$49.1B
| $129M | 0.05% |
3,393,162
-511,942
| -13% | -$18.8M |
|
339
Idexx Laboratories
IDXX
$40.9B
| $128M | 0.05% |
826,986
-129,245
| -14% | -$17.8M |
|
340
NOV
NOV
$7.46B
| $127M | 0.05% |
3,171,780
-367,531
| -10% | -$14.3M |
|
341
Southwest Airlines
LUV
$19.1B
| $127M | 0.05% |
2,357,871
+861,318
| +58% | +$46.3M |
|
|
ANDV
342
DELISTED
Andeavor
ANDV
| $126M | 0.05% |
1,553,699
-22,399
| -1% | -$1.88M |
|
343
Expeditors International
EXPD
$24.8B
| $125M | 0.05% |
2,211,599
-82,039
| -4% | -$4.5M |
|
344
KLA
KLAC
$222B
| $124M | 0.05% |
13,091,140
+1,831,580
| +16% | +$16.1M |
|
345
Hasbro
HAS
$12.8B
| $124M | 0.05% |
1,241,962
+265,864
| +27% | +$24.6M |
|
346
Universal Health Services
UHS
$10.6B
| $124M | 0.05% |
995,700
| – | – |
|
347
Chipotle Mexican Grill
CMG
$43.5B
| $124M | 0.05% |
13,897,900
-122,000
| -0.9% | -$1.01M |
|
348
Dollar Tree
DLTR
$21.6B
| $123M | 0.05% |
1,569,909
-86,069
| -5% | -$6.62M |
|
|
CXO
349
DELISTED
CONCHO RESOURCES INC.
CXO
| $123M | 0.05% |
956,197
+42,282
| +5% | +$5.69M |
|
350
Mettler-Toledo International
MTD
$27.7B
| $123M | 0.05% |
256,234
+11,743
| +5% | +$5.37M |
|
Similar funds
Norges Bank's Q1 2017 Portfolio in Review
As of Q1 2017, Norges Bank held 2,251 positions worth $244B, up 6.5% from $229B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q1 2017 filing shows 100 new, 1,048 increased, 797 reduced and 111 closed positions. Its largest new stake was Park Hotels & Resorts: 6,552,098 shares worth $168M. The largest sale was Aflac, an estimated $533M.
By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 20% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q1 2017 buy was Park Hotels & Resorts: 6,552,098 shares worth $168M.
- Norges Bank added most to Apple in Q1 2017, an estimated $376M increase.
- Norges Bank's biggest Q1 2017 reduction was Aflac, cutting an estimated $533M.
- Norges Bank fully exited Spectra Energy Corp Wi in Q1 2017, selling an estimated $224M.
- Norges Bank's ten largest holdings make up 15% of its $244B portfolio in Q1 2017.
- Norges Bank opened 100 new positions and closed 111 in Q1 2017.
- Norges Bank's portfolio value rose 6.5% quarter-over-quarter to $244B.
Based on Norges Bank's 13F filing for Q1 2017, filed 10 May 2017.