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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+7.03%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$308B
AUM Growth
+$16.6B
Cap. Flow
+$44.1M
Cap. Flow %
0.01%
Top 10 Hldgs %
17.3%
Holding
2,209
New
74
Increased
715
Reduced
609
Closed
67

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$203M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$196M
3
T icon
AT&T
T
+$174M
4
NIO icon
NIO
NIO
+$163M
5
TMUS icon
T-Mobile US
TMUS
+$130M

Top Sells

Rank Stock Value
1
GGP
GGP Inc.
GGP
+$606M
2
WFC icon
Wells Fargo
WFC
+$206M
3
ORCL icon
Oracle
ORCL
+$200M
4
UBS icon
UBS Group
UBS
+$185M
5
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$154M

Sector Composition

Rank Sector Weight
1 Technology 17.96%
2 Financials 17.19%
3 Healthcare 13.99%
4 Consumer Discretionary 11.37%
5 Communication Services 9.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IMO icon
426
Imperial Oil
IMO
$62.3B
$121M 0.04%
3,733,688
– –
MAS icon
427
Masco
MAS
$14.3B
$120M 0.04%
3,276,676
-32,805
-1% -$1.26M
BCE icon
428
BCE
BCE
$20.8B
$119M 0.04%
2,936,061
+992,118
+51% +$40.9M
FTS icon
429
Fortis
FTS
$29.3B
$119M 0.04%
3,664,209
+318,848
+10% +$10.4M
ODFL icon
430
Old Dominion Freight Line
ODFL
$46.3B
$118M 0.04%
2,193,747
+90,000
+4% +$4.55M
AJG icon
431
Arthur J. Gallagher & Co
AJG
$69.1B
$118M 0.04%
1,582,247
+93,042
+6% +$6.67M
AAP icon
432
Advance Auto Parts
AAP
$3.53B
$118M 0.04%
699,562
+151,657
+28% +$23.3M
CONE
433
DELISTED
CyrusOne Inc Common Stock
CONE
$118M 0.04%
1,855,339
+40,941
+2% +$2.65M
KEYS icon
434
Keysight
KEYS
$50.7B
$116M 0.04%
1,755,024
+130,537
+8% +$8.1M
DXCM icon
435
DexCom
DXCM
$29B
$116M 0.04%
3,235,364
+550,640
+21% +$17.1M
DOC icon
436
Healthpeak Properties
DOC
$15.5B
$116M 0.04%
4,389,213
-109,094
-2% -$2.87M
DOV icon
437
Dover
DOV
$26.7B
$115M 0.04%
1,302,961
– –
COR icon
438
Cencora
COR
$62B
$115M 0.04%
1,242,047
– –
STX icon
439
Seagate
STX
$174B
$114M 0.04%
2,411,415
-271,806
-10% -$14.5M
FRC
440
DELISTED
First Republic Bank
FRC
$114M 0.04%
1,187,047
+100,765
+9% +$10.1M
EQT icon
441
EQT Corp
EQT
$32.9B
$114M 0.04%
4,726,303
+1,187,642
+34% +$32.8M
AGNC icon
442
AGNC Investment
AGNC
$12.7B
$114M 0.04%
6,100,963
+1,795,884
+42% +$34.2M
BEN icon
443
Franklin Resources
BEN
$16.8B
$113M 0.04%
3,724,790
-55,013
-1% -$1.77M
ALLY icon
444
Ally Financial
ALLY
$13.1B
$113M 0.04%
4,280,504
-948,621
-18% -$25.7M
CMG icon
445
Chipotle Mexican Grill
CMG
$43.9B
$113M 0.04%
12,402,300
+1,592,550
+15% +$15.2M
VEEV icon
446
Veeva Systems
VEEV
$33.8B
$113M 0.04%
1,034,854
+39,722
+4% +$3.6M
LEN icon
447
Lennar Class A
LEN
$20.4B
$112M 0.04%
2,486,451
+208,966
+9% +$10.5M
AAL icon
448
American Airlines Group
AAL
$9.82B
$112M 0.04%
2,715,450
+899,074
+49% +$35.1M
JAZZ icon
449
Jazz Pharmaceuticals
JAZZ
$16.1B
$112M 0.04%
663,958
+95,700
+17% +$16.5M
CIT
450
DELISTED
CIT Group Inc.
CIT
$112M 0.04%
2,162,454
+193,020
+10% +$10.3M
16 17
18
19 20

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Norges Bank's Q3 2018 Portfolio in Review

As of Q3 2018, Norges Bank held 2,209 positions worth $308B, up 5.7% from $291B the previous quarter. Its ten largest holdings account for 17% of the portfolio.

Norges Bank's Q3 2018 filing shows 74 new, 715 increased, 609 reduced and 67 closed positions. Its largest new stake was NIO: 19,750,000 shares worth $138M. The largest sale was GGP Inc., an estimated $606M.

By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q3 2018 buy was NIO: 19,750,000 shares worth $138M.
  • Norges Bank added most to Meta Platforms (Facebook) in Q3 2018, an estimated $203M increase.
  • Norges Bank's biggest Q3 2018 reduction was Wells Fargo, cutting an estimated $206M.
  • Norges Bank fully exited GGP Inc. in Q3 2018, selling an estimated $606M.
  • Norges Bank's ten largest holdings make up 17% of its $308B portfolio in Q3 2018.
  • Norges Bank opened 74 new positions and closed 67 in Q3 2018.
  • Norges Bank's portfolio value rose 5.7% quarter-over-quarter to $308B.

Based on Norges Bank's 13F filing for Q3 2018, filed 9 Nov 2018.