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 |
DD
Du Pont De Nemours E I
DD
|
+$334M |
| 2 |
AABA
Altaba Inc
AABA
|
+$288M |
| 3 |
Chubb
CB
|
+$238M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$235M |
| 5 |
Meta Platforms (Facebook)
META
|
+$229M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$1.25B |
| 2 |
Prudential Financial
PRU
|
+$897M |
| 3 |
YHOO
Yahoo Inc
YHOO
|
+$318M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$313M |
| 5 |
Aflac
AFL
|
+$312M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.93% |
| 2 | Technology | 15.43% |
| 3 | Healthcare | 14.28% |
| 4 | Consumer Discretionary | 9.81% |
| 5 | Industrials | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
401
Estee Lauder
EL
$34.8B
| $112M | 0.04% |
1,171,458
+414,679
| +55% | +$38.1M |
|
402
MGM Resorts International
MGM
$9.87B
| $110M | 0.04% |
3,523,819
-288,626
| -8% | -$8.92M |
|
403
Eastman Chemical
EMN
$7.53B
| $110M | 0.04% |
1,309,723
+120,140
| +10% | +$9.68M |
|
|
GAP
404
The Gap Inc
GAP
$7.18B
| $110M | 0.04% |
4,999,319
+498,199
| +11% | +$11.9M |
|
405
Ball Corp
BALL
$16.1B
| $110M | 0.04% |
2,600,856
+157,428
| +6% | +$6.22M |
|
406
Mid-America Apartment Communities
MAA
$14.4B
| $110M | 0.04% |
1,041,125
+60,262
| +6% | +$6.2M |
|
407
Invesco
IVZ
$13.6B
| $110M | 0.04% |
3,116,774
+912,556
| +41% | +$29.7M |
|
408
Campbell Soup
CPB
$6.37B
| $110M | 0.04% |
2,102,023
+232,738
| +12% | +$13.2M |
|
409
Church & Dwight Co
CHD
$22.4B
| $110M | 0.04% |
2,112,470
+158,191
| +8% | +$8.09M |
|
410
Cincinnati Financial
CINF
$26.3B
| $109M | 0.04% |
1,504,325
-27,965
| -2% | -$1.98M |
|
411
McCormick & Company Non-Voting
MKC
$13.4B
| $109M | 0.04% |
2,234,812
-33,808
| -1% | -$1.71M |
|
|
CA
412
DELISTED
CA, Inc.
CA
| $108M | 0.04% |
3,135,161
-190,308
| -6% | -$6.16M |
|
413
D.R. Horton
DHI
$39.2B
| $108M | 0.04% |
3,117,000
+181,650
| +6% | +$6.07M |
|
414
Bunge Global
BG
$23.4B
| $107M | 0.04% |
1,439,535
-329,713
| -19% | -$25.1M |
|
415
SiriusXM
SIRI
$9.95B
| $107M | 0.04% |
1,951,689
-164,916
| -8% | -$8.43M |
|
416
CBRE Group
CBRE
$40.6B
| $106M | 0.04% |
2,925,427
-176,783
| -6% | -$6.15M |
|
417
Gartner
IT
$12.4B
| $106M | 0.04% |
854,887
+214,336
| +33% | +$24.9M |
|
|
AMTD
418
DELISTED
TD Ameritrade Holding Corp
AMTD
| $105M | 0.04% |
2,448,438
-198,028
| -7% | -$7.69M |
|
419
Globe Life
GL
$13.3B
| $105M | 0.04% |
1,366,608
+1,133,675
| +487% | +$86.2M |
|
420
Celanese
CE
$5.18B
| $104M | 0.04% |
1,099,231
-126,160
| -10% | -$11.2M |
|
421
Albemarle
ALB
$13.4B
| $104M | 0.04% |
984,731
+73,074
| +8% | +$7.95M |
|
422
Ametek
AME
$53.8B
| $103M | 0.04% |
1,708,703
-119,665
| -7% | -$7.05M |
|
423
Global Payments
GPN
$23.5B
| $103M | 0.04% |
1,137,040
-253,990
| -18% | -$22M |
|
424
A.O. Smith
AOS
$7.78B
| $103M | 0.04% |
1,821,910
+256,168
| +16% | +$13.8M |
|
425
Travel + Leisure Co
TNL
$4.01B
| $102M | 0.04% |
2,252,068
+222,375
| +11% | +$9.65M |
|
Similar funds
Norges Bank's Q2 2017 Portfolio in Review
As of Q2 2017, Norges Bank held 2,216 positions worth $252B, up 3.4% from $244B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q2 2017 filing shows 77 new, 1,043 increased, 752 reduced and 90 closed positions. Its largest new stake was Altaba Inc: 5,288,554 shares worth $288M. The largest sale was Blackrock, an estimated $1.25B.
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 Q2 2017 buy was Altaba Inc: 5,288,554 shares worth $288M.
- Norges Bank added most to Du Pont De Nemours E I in Q2 2017, an estimated $334M increase.
- Norges Bank's biggest Q2 2017 reduction was Blackrock, cutting an estimated $1.25B.
- Norges Bank fully exited Yahoo Inc in Q2 2017, selling an estimated $318M.
- Norges Bank's ten largest holdings make up 15% of its $252B portfolio in Q2 2017.
- Norges Bank opened 77 new positions and closed 90 in Q2 2017.
- Norges Bank's portfolio value rose 3.4% quarter-over-quarter to $252B.
Based on Norges Bank's 13F filing for Q2 2017, filed 2 Aug 2017.