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 | |
|---|---|---|---|---|---|---|
376
C.H. Robinson
CHRW
$17.9B
| $115M | 0.05% |
1,493,775
-353,431
| -19% | -$27.2M |
|
|
NLSN
377
DELISTED
Nielsen Holdings plc
NLSN
| $115M | 0.05% |
2,789,691
+154,742
| +6% | +$6.62M |
|
|
LVLT
378
DELISTED
Level 3 Communications Inc
LVLT
| $114M | 0.05% |
1,995,934
-1,150,000
| -37% | -$66.4M |
|
379
Martin Marietta Materials
MLM
$35.3B
| $114M | 0.05% |
520,543
+1,439
| +0.3% | +$317K |
|
380
Expedia Group
EXPE
$34.4B
| $113M | 0.05% |
897,354
| – | – |
|
|
MRO
381
DELISTED
Marathon Oil Corporation
MRO
| $113M | 0.05% |
7,162,814
-666,688
| -9% | -$10.9M |
|
382
Fortis
FTS
$27.5B
| $113M | 0.05% |
3,415,193
-103,285
| -3% | -$3.3M |
|
383
LKQ Corp
LKQ
$5.82B
| $112M | 0.05% |
3,836,440
+535,865
| +16% | +$16.7M |
|
384
Global Payments
GPN
$22.9B
| $112M | 0.05% |
1,391,030
+53,500
| +4% | +$4.19M |
|
|
JNPR
385
DELISTED
Juniper Networks
JNPR
| $112M | 0.05% |
4,032,367
-674,370
| -14% | -$18.8M |
|
386
Arch Capital
ACGL
$33.1B
| $112M | 0.05% |
3,540,291
-188,058
| -5% | -$5.75M |
|
387
KeyCorp
KEY
$22.1B
| $112M | 0.05% |
6,281,124
-1,026,056
| -14% | -$18.8M |
|
388
Mohawk Industries
MHK
$8.65B
| $111M | 0.05% |
483,747
-118,623
| -20% | -$26.1M |
|
389
Marvell Technology
MRVL
$206B
| $111M | 0.05% |
7,259,082
-1,076,818
| -13% | -$16.6M |
|
390
Cincinnati Financial
CINF
$26.2B
| $111M | 0.05% |
1,532,290
-29,218
| -2% | -$2.12M |
|
391
McCormick & Company Non-Voting
MKC
$13.5B
| $111M | 0.05% |
2,268,620
-133,756
| -6% | -$6.48M |
|
392
Celanese
CE
$5.14B
| $110M | 0.05% |
1,225,391
-53,610
| -4% | -$4.68M |
|
393
Goodyear
GT
$1.49B
| $110M | 0.05% |
3,049,755
+320,748
| +12% | +$10.9M |
|
|
GAP
394
The Gap Inc
GAP
$7.09B
| $109M | 0.04% |
4,501,120
+3,002,365
| +200% | +$71.7M |
|
395
Corpay
CPAY
$26.4B
| $109M | 0.04% |
720,363
+69,714
| +11% | +$10.9M |
|
|
PF
396
DELISTED
Pinnacle Foods, Inc.
PF
| $109M | 0.04% |
1,884,556
-18,828
| -1% | -$1.05M |
|
397
SiriusXM
SIRI
$9.63B
| $109M | 0.04% |
2,116,605
| – | – |
|
398
L3Harris
LHX
$46.7B
| $109M | 0.04% |
977,094
+18,402
| +2% | +$1.97M |
|
399
Ovintiv
OVV
$17.4B
| $109M | 0.04% |
1,859,049
-78,692
| -4% | -$4.72M |
|
400
Cenovus Energy
CVE
$60B
| $109M | 0.04% |
9,620,156
+1,663,286
| +21% | +$22.3M |
|
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.