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
|
+$836M |
| 2 |
VMRK
Vivmark Residential
VMRK
|
+$579M |
| 3 |
Equitable Holdings
EQH
|
+$351M |
| 4 |
AT&T
T
|
+$345M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$282M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$657M |
| 2 |
MON
Monsanto Co
MON
|
+$486M |
| 3 |
Apple
AAPL
|
+$230M |
| 4 |
American International
AIG
|
+$211M |
| 5 |
SL Green Realty
SLG
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.86% |
| 2 | Technology | 17.5% |
| 3 | Healthcare | 13.06% |
| 4 | Consumer Discretionary | 11.54% |
| 5 | Communication Services | 9.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
401
Liberty Media Series C
FWONK
$23.8B
| $126M | 0.04% |
3,496,293
-123,038
| -3% | -$3.75M |
|
402
Genuine Parts
GPC
$18.1B
| $125M | 0.04% |
1,364,635
-11,351
| -0.8% | -$1.04M |
|
403
Restaurant Brands International
QSR
$26.3B
| $125M | 0.04% |
2,076,405
+91,140
| +5% | +$5.22M |
|
404
PVH
PVH
$3.3B
| $125M | 0.04% |
835,114
-139,191
| -14% | -$21.9M |
|
405
Martin Marietta Materials
MLM
$36B
| $125M | 0.04% |
558,739
| – | – |
|
406
Diamondback Energy
FANG
$59.2B
| $124M | 0.04% |
945,560
+102,810
| +12% | +$12.8M |
|
407
Imperial Oil
IMO
$65.5B
| $124M | 0.04% |
3,733,688
| – | – |
|
408
Masco
MAS
$13.6B
| $124M | 0.04% |
3,309,481
+269,046
| +9% | +$10.4M |
|
409
Delta Air Lines
DAL
$51.9B
| $123M | 0.04% |
2,492,834
| – | – |
|
410
Check Point Software Technologies
CHKP
$14.1B
| $123M | 0.04% |
1,264,218
| – | – |
|
|
WCG
411
DELISTED
Wellcare Health Plans, Inc.
WCG
| $123M | 0.04% |
500,114
| – | – |
|
412
CenterPoint Energy
CNP
$25B
| $123M | 0.04% |
4,432,513
+270,529
| +7% | +$7.1M |
|
413
NOV
NOV
$7.48B
| $122M | 0.04% |
2,803,411
| – | – |
|
414
Franklin Templeton
BEN
$16.9B
| $121M | 0.04% |
3,779,803
-26,635
| -0.7% | -$892K |
|
415
Cheniere Energy
LNG
$56B
| $121M | 0.04% |
1,855,187
+885,642
| +91% | +$54.5M |
|
416
Annaly Capital Management
NLY
$16.1B
| $121M | 0.04% |
2,933,544
+47,258
| +2% | +$1.97M |
|
417
D.R. Horton
DHI
$39.2B
| $120M | 0.04% |
2,931,137
+167,168
| +6% | +$7.21M |
|
418
Vulcan Materials
VMC
$32.3B
| $120M | 0.04% |
929,422
| – | – |
|
419
Expedia Group
EXPE
$35.2B
| $119M | 0.04% |
991,861
| – | – |
|
420
Mercado Libre
MELI
$92.7B
| $119M | 0.04% |
397,123
-21,549
| -5% | -$6.8M |
|
|
NBL
421
DELISTED
Noble Energy, Inc.
NBL
| $118M | 0.04% |
3,353,439
+363,335
| +12% | +$12.4M |
|
422
CoStar Group
CSGP
$12.8B
| $118M | 0.04% |
2,861,830
+155,260
| +6% | +$5.98M |
|
423
Ulta Beauty
ULTA
$23.3B
| $117M | 0.04% |
500,732
-4,275
| -0.8% | -$1.03M |
|
424
Tetra Tech
TTEK
$9.4B
| $116M | 0.04% |
9,956,380
| – | – |
|
425
J.M. Smucker
SJM
$13B
| $116M | 0.04% |
1,081,552
-124,018
| -10% | -$13.9M |
|
Similar funds
Norges Bank's Q2 2018 Portfolio in Review
As of Q2 2018, Norges Bank held 2,219 positions worth $291B, up 5.4% from $276B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Norges Bank's Q2 2018 filing shows 75 new, 838 increased, 618 reduced and 85 closed positions. Its largest new stake was Equitable Holdings: 16,478,469 shares worth $340M. The largest sale was Time Warner Inc, an estimated $657M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q2 2018 buy was Equitable Holdings: 16,478,469 shares worth $340M.
- Norges Bank added most to Alibaba in Q2 2018, an estimated $836M increase.
- Norges Bank's biggest Q2 2018 reduction was Apple, cutting an estimated $230M.
- Norges Bank fully exited Time Warner Inc in Q2 2018, selling an estimated $657M.
- Norges Bank's ten largest holdings make up 16% of its $291B portfolio in Q2 2018.
- Norges Bank opened 75 new positions and closed 85 in Q2 2018.
- Norges Bank's portfolio value rose 5.4% quarter-over-quarter to $291B.
Based on Norges Bank's 13F filing for Q2 2018, filed 23 Jul 2018.