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 | 18.89% |
| 2 | Technology | 16.06% |
| 3 | Healthcare | 12.94% |
| 4 | Consumer Discretionary | 10.19% |
| 5 | Industrials | 9.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
UNVR
376
DELISTED
Univar Solutions Inc.
UNVR
| $135M | 0.05% |
4,351,019
+2,732,348
| +169% | +$81.3M |
|
377
Entergy
ETR
$50.2B
| $135M | 0.05% |
3,309,244
+188,188
| +6% | +$7.88M |
|
|
K
378
DELISTED
Kellanova
K
| $134M | 0.05% |
2,100,376
-424,606
| -17% | -$25.6M |
|
379
VeriSign
VRSN
$26.2B
| $134M | 0.05% |
1,167,754
| – | – |
|
|
KSU
380
DELISTED
Kansas City Southern
KSU
| $133M | 0.05% |
1,267,773
| – | – |
|
381
Essex Property Trust
ESS
$18.3B
| $133M | 0.05% |
549,798
+17,553
| +3% | +$4.43M |
|
382
Packaging Corp of America
PKG
$21.9B
| $133M | 0.05% |
1,100,661
+21,845
| +2% | +$2.54M |
|
|
MRO
383
DELISTED
Marathon Oil Corporation
MRO
| $132M | 0.05% |
7,809,135
+398,123
| +5% | +$5.91M |
|
384
Globe Life
GL
$14.2B
| $132M | 0.05% |
1,457,370
+991
| +0.1% | +$85K |
|
385
Hershey
HSY
$35.2B
| $132M | 0.05% |
1,164,280
| – | – |
|
386
Kohl's
KSS
$2.17B
| $132M | 0.05% |
2,434,022
| – | – |
|
387
CBRE Group
CBRE
$42.5B
| $132M | 0.05% |
3,045,003
-5,679
| -0.2% | -$235K |
|
388
Bread Financial
BFH
$4.37B
| $132M | 0.05% |
650,333
-51,968
| -7% | -$9.63M |
|
389
KeyCorp
KEY
$24.2B
| $131M | 0.05% |
6,497,585
| – | – |
|
390
F5
FFIV
$22.9B
| $129M | 0.05% |
983,434
| – | – |
|
391
Imperial Oil
IMO
$62.7B
| $129M | 0.05% |
4,117,529
| – | – |
|
392
Tapestry
TPR
$30.8B
| $128M | 0.05% |
2,891,894
+172,074
| +6% | +$7.09M |
|
393
Capri Holdings
CPRI
$1.83B
| $127M | 0.05% |
2,013,570
| – | – |
|
|
ETFC
394
DELISTED
E*Trade Financial Corporation
ETFC
| $127M | 0.05% |
2,555,581
+117,188
| +5% | +$5.38M |
|
395
MSCI
MSCI
$41.6B
| $126M | 0.05% |
993,723
+3,933
| +0.4% | +$491K |
|
396
PPG Industries
PPG
$24.6B
| $125M | 0.04% |
1,073,067
+300,000
| +39% | +$34.6M |
|
397
Idexx Laboratories
IDXX
$44.1B
| $125M | 0.04% |
801,237
| – | – |
|
398
Travel + Leisure Co
TNL
$4.66B
| $125M | 0.04% |
2,380,403
+34,614
| +1% | +$1.72M |
|
399
Northern Trust
NTRS
$33.3B
| $124M | 0.04% |
1,240,781
+409,444
| +49% | +$39M |
|
400
Liberty Global Class C
LBTYK
$3.53B
| $124M | 0.04% |
3,660,519
+697,893
| +24% | +$21.4M |
|
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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.