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
|
+$795M |
| 2 |
Vornado Realty Trust
VNO
|
+$326M |
| 3 |
Equity Residential
EQR
|
+$286M |
| 4 |
Amazon
AMZN
|
+$222M |
| 5 |
Baidu
BIDU
|
+$151M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UBS Group
UBS
|
+$276M |
| 2 |
Aptiv
APTV
|
+$268M |
| 3 |
TechnipFMC
FTI
|
+$243M |
| 4 |
Apple
AAPL
|
+$215M |
| 5 |
Alcoa
AA
|
+$200M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.71% |
| 2 | Technology | 17.15% |
| 3 | Healthcare | 12.82% |
| 4 | Consumer Discretionary | 10.94% |
| 5 | Communication Services | 9.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
451
Domino's
DPZ
$11.5B
| $107M | 0.04% |
457,106
+50,392
| +12% | +$11M |
|
452
Diamondback Energy
FANG
$57.1B
| $107M | 0.04% |
842,750
-40,557
| -5% | -$5.11M |
|
453
F5
FFIV
$22.9B
| $106M | 0.04% |
736,251
-247,183
| -25% | -$35.4M |
|
454
Vulcan Materials
VMC
$34.8B
| $106M | 0.04% |
929,422
+47,621
| +5% | +$6M |
|
455
SEI Investments
SEIC
$12.4B
| $106M | 0.04% |
1,414,828
+10,363
| +0.7% | +$772K |
|
456
Whirlpool
WHR
$2.43B
| $106M | 0.04% |
692,091
+6,200
| +0.9% | +$1.04M |
|
457
Bath & Body Works
BBWI
$4.06B
| $106M | 0.04% |
3,421,655
-3,737
| -0.1% | -$141K |
|
458
lululemon athletica
LULU
$13.5B
| $105M | 0.04% |
1,180,114
+306,549
| +35% | +$24.5M |
|
459
Healthpeak Properties
DOC
$15.1B
| $104M | 0.04% |
4,498,307
| – | – |
|
460
Graphic Packaging
GPK
$3.17B
| $104M | 0.04% |
6,805,993
+2,106,789
| +45% | +$32.9M |
|
461
Global Payments
GPN
$23B
| $104M | 0.04% |
933,029
+40,013
| +4% | +$4.42M |
|
462
Macy's
M
$6.53B
| $104M | 0.04% |
3,489,122
-430,790
| -11% | -$11.6M |
|
463
Take-Two Interactive
TTWO
$45.4B
| $104M | 0.04% |
1,060,735
+138,026
| +15% | +$15.5M |
|
464
McCormick & Company Non-Voting
MKC
$13.7B
| $103M | 0.04% |
1,940,504
-270,894
| -12% | -$14.2M |
|
465
NOV
NOV
$6.93B
| $103M | 0.04% |
2,803,411
-168,600
| -6% | -$6.18M |
|
466
Ulta Beauty
ULTA
$22B
| $103M | 0.04% |
505,007
+4,574
| +0.9% | +$990K |
|
467
Old Dominion Freight Line
ODFL
$44.1B
| $103M | 0.04% |
2,103,747
+90,978
| +5% | +$4.31M |
|
468
Owens Corning
OC
$11.2B
| $103M | 0.04% |
1,279,626
| – | – |
|
469
ResMed
RMD
$30.6B
| $103M | 0.04% |
1,041,994
-57,031
| -5% | -$5.39M |
|
470
Arthur J. Gallagher & Co
AJG
$64.1B
| $103M | 0.04% |
1,492,829
+76,429
| +5% | +$5.16M |
|
471
Newell Brands
NWL
$2.38B
| $102M | 0.04% |
4,022,730
+521,226
| +15% | +$14.7M |
|
472
Corpay
CPAY
$25B
| $102M | 0.04% |
503,080
+39,886
| +9% | +$8.09M |
|
473
Amdocs
DOX
$5.92B
| $102M | 0.04% |
1,525,283
+17,400
| +1% | +$1.17M |
|
474
NVR
NVR
$16.5B
| $102M | 0.04% |
36,265
-4,234
| -10% | -$13.5M |
|
|
ATH
475
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $101M | 0.04% |
2,121,381
+972,430
| +85% | +$48.4M |
|
Similar funds
Norges Bank's Q1 2018 Portfolio in Review
As of Q1 2018, Norges Bank held 2,204 positions worth $276B, down 0.94% from $279B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Norges Bank's Q1 2018 filing shows 89 new, 744 increased, 809 reduced and 60 closed positions. Its largest new stake was PagSeguro Digital: 2,000,000 shares worth $76.6M. The largest sale was UBS Group, an estimated $276M.
By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q1 2018 buy was PagSeguro Digital: 2,000,000 shares worth $76.6M.
- Norges Bank added most to Alibaba in Q1 2018, an estimated $795M increase.
- Norges Bank's biggest Q1 2018 reduction was UBS Group, cutting an estimated $276M.
- Norges Bank fully exited Agrium in Q1 2018, selling an estimated $147M.
- Norges Bank's ten largest holdings make up 16% of its $276B portfolio in Q1 2018.
- Norges Bank opened 89 new positions and closed 60 in Q1 2018.
- Norges Bank's portfolio value fell 0.94% quarter-over-quarter to $276B.
Based on Norges Bank's 13F filing for Q1 2018, filed 9 May 2018.