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 | 19.04% |
| 2 | Technology | 16.4% |
| 3 | Healthcare | 13.21% |
| 4 | Consumer Discretionary | 10.32% |
| 5 | Communication Services | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Coca-Cola
KO
$379B
| $1.68B | 0.6% |
36,693,607
+14,728
| +0% | +$677K |
2013 Q2
18 quarters
|
|
27
PepsiCo
PEP
$172B
| $1.61B | 0.58% |
13,425,752
+118,003
| +0.9% | +$13.5M |
2013 Q2
18 quarters
|
|
28
Merck
MRK
$359B
| $1.6B | 0.57% |
29,745,874
+117,668
| +0.4% | +$6.52M |
2013 Q2
18 quarters
|
|
29
Walt Disney
DIS
$187B
| $1.58B | 0.57% |
14,698,364
+232,627
| +2% | +$24M |
2013 Q2
18 quarters
|
|
30
Oracle
ORCL
$429B
| $1.51B | 0.54% |
31,900,919
-921,490
| -3% | -$45.2M |
2013 Q2
18 quarters
|
|
31
Berkshire Hathaway Class B
BRK.B
$1.1T
| $1.46B | 0.52% |
7,350,553
+895,468
| +14% | +$170M |
2013 Q2
18 quarters
|
|
|
32
Blackrock
BLK
$168B
| $1.43B | 0.51% |
2,786,667
-1,191,295
| -30% | -$579M |
2013 Q2
18 quarters
|
|
33
Mastercard
MA
$516B
| $1.38B | 0.5% |
9,133,533
+377,612
| +4% | +$56.2M |
2013 Q2
18 quarters
|
|
34
GE Aerospace
GE
$320B
| $1.35B | 0.48% |
16,113,495
-295,622
| -2% | -$28.2M |
2013 Q2
18 quarters
|
|
35
AbbVie
ABBV
$489B
| $1.33B | 0.48% |
13,729,223
+21,170
| +0.2% | +$2M |
2013 Q2
18 quarters
|
|
36
DuPont de Nemours
DD
$17.6B
| $1.32B | 0.47% |
7,324,468
+228,859
| +3% | +$41.2M |
2013 Q2
18 quarters
|
|
37
McDonald's
MCD
$166B
| $1.32B | 0.47% |
7,671,673
-148,393
| -2% | -$24.9M |
2013 Q2
18 quarters
|
|
38
IBM
IBM
$214B
| $1.3B | 0.46% |
8,836,831
+294,559
| +3% | +$42.8M |
2013 Q2
18 quarters
|
|
39
Amgen
AMGN
$224B
| $1.23B | 0.44% |
7,078,159
| – | – |
2013 Q2
18 quarters
|
|
40
3M
MMM
$82.5B
| $1.18B | 0.42% |
6,008,148
| – | – |
2013 Q2
18 quarters
|
|
41
Royal Bank of Canada
RY
$266B
| $1.14B | 0.41% |
13,889,886
+172,421
| +1% | +$13.7M |
2013 Q2
18 quarters
|
|
42
Union Pacific
UNP
$165B
| $1.12B | 0.4% |
8,328,690
-38,708
| -0.5% | -$4.67M |
2013 Q2
18 quarters
|
|
43
Abbott
ABT
$172B
| $1.06B | 0.38% |
18,518,132
-563,074
| -3% | -$31.2M |
2013 Q2
18 quarters
|
|
44
Toronto Dominion Bank
TD
$188B
| $1.03B | 0.37% |
17,495,536
+386,003
| +2% | +$22.1M |
2013 Q2
18 quarters
|
|
45
Texas Instruments
TXN
$259B
| $994M | 0.36% |
9,520,434
+25,190
| +0.3% | +$2.45M |
2013 Q2
18 quarters
|
|
46
NextEra Energy
NEE
$161B
| $984M | 0.35% |
25,212,676
-793,856
| -3% | -$30.6M |
2013 Q2
18 quarters
|
|
47
NVIDIA
NVDA
$5.54T
| $983M | 0.35% |
203,290,960
+7,514,200
| +4% | +$37.3M |
2013 Q2
18 quarters
|
|
48
Medtronic
MDT
$113B
| $981M | 0.35% |
12,152,306
+218,257
| +2% | +$17.5M |
2015 Q3
9 quarters
|
|
|
49
Vornado Realty Trust
VNO
$6.28B
| $968M | 0.35% |
12,382,373
+3,700,022
| +43% | +$283M |
2013 Q2
18 quarters
|
|
|
50
Boston Properties
BXP
$9.43B
| $963M | 0.35% |
7,403,590
+2,932,228
| +66% | +$368M |
2013 Q2
18 quarters
|
|
Similar funds
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.