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 | |
|---|---|---|---|---|---|---|
476
Cboe Global Markets
CBOE
$31.2B
| $101M | 0.04% |
886,970
-46,475
| -5% | -$5.65M |
|
477
Cincinnati Financial
CINF
$27.3B
| $101M | 0.04% |
1,357,808
-20,334
| -1% | -$1.52M |
|
478
Western Union
WU
$2.04B
| $101M | 0.04% |
5,232,321
-137,031
| -3% | -$2.75M |
|
|
CDK
479
DELISTED
CDK Global, Inc.
CDK
| $100M | 0.04% |
1,585,694
+401,902
| +34% | +$28.1M |
|
480
ON Semiconductor
ON
$31.3B
| $99M | 0.04% |
4,046,448
| – | – |
|
481
Imperial Oil
IMO
$61.1B
| $98.8M | 0.04% |
3,733,688
-383,841
| -9% | -$11.1M |
|
482
CoStar Group
CSGP
$12.2B
| $98.2M | 0.04% |
2,706,570
+296,390
| +12% | +$10.2M |
|
483
American Financial Group
AFG
$11.8B
| $97.6M | 0.04% |
869,953
-24,670
| -3% | -$2.76M |
|
|
CA
484
DELISTED
CA, Inc.
CA
| $97.6M | 0.04% |
2,879,437
-367,188
| -11% | -$12.8M |
|
485
Tetra Tech
TTEK
$8.66B
| $97.5M | 0.04% |
9,956,380
-397,745
| -4% | -$3.93M |
|
486
Entergy
ETR
$50.4B
| $97.4M | 0.04% |
2,473,222
-836,022
| -25% | -$32.3M |
|
|
WCG
487
DELISTED
Wellcare Health Plans, Inc.
WCG
| $96.8M | 0.04% |
500,114
+11,488
| +2% | +$2.3M |
|
488
Air Products & Chemicals
APD
$65.2B
| $96.1M | 0.03% |
604,267
-50,341
| -8% | -$8.3M |
|
489
CF Industries
CF
$18.2B
| $95.8M | 0.03% |
2,538,688
+783,500
| +45% | +$31.9M |
|
490
Alnylam Pharmaceuticals
ALNY
$29.5B
| $95.8M | 0.03% |
803,963
+61,702
| +8% | +$7.95M |
|
|
DRE
491
DELISTED
Duke Realty Corp.
DRE
| $95.6M | 0.03% |
3,608,839
| – | – |
|
492
Keysight
KEYS
$55B
| $95.5M | 0.03% |
1,822,915
-173,881
| -9% | -$8.31M |
|
493
UDR
UDR
$12.4B
| $95.4M | 0.03% |
2,677,057
| – | – |
|
494
Mid-America Apartment Communities
MAA
$15.5B
| $95.1M | 0.03% |
1,042,514
| – | – |
|
495
Bunge Global
BG
$20.2B
| $94.9M | 0.03% |
1,283,074
-156,461
| -11% | -$11.8M |
|
496
Ralph Lauren
RL
$22.6B
| $94.3M | 0.03% |
843,274
-32,171
| -4% | -$3.48M |
|
497
Alexandria Real Estate Equities
ARE
$9.24B
| $94.2M | 0.03% |
754,056
+64,000
| +9% | +$7.94M |
|
498
Leidos
LDOS
$14.9B
| $94.1M | 0.03% |
1,438,115
| – | – |
|
|
TFCFA
499
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $94M | 0.03% |
2,562,429
-45,699
| -2% | -$1.69M |
|
|
FRC
500
DELISTED
First Republic Bank
FRC
| $93.7M | 0.03% |
1,011,587
+33,900
| +3% | +$3.13M |
|
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.