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 |
DuPont de Nemours
DD
|
+$764M |
| 2 |
Lear
LEA
|
+$169M |
| 3 |
Alibaba
BABA
|
+$169M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$168M |
| 5 |
Bank of America
BAC
|
+$156M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DD
Du Pont De Nemours E I
DD
|
+$712M |
| 2 |
Blackrock
BLK
|
+$428M |
| 3 |
Ameriprise Financial
AMP
|
+$273M |
| 4 |
BHI
Baker Hughes
BHI
|
+$220M |
| 5 |
Chemours
CC
|
+$196M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.77% |
| 2 | Technology | 15.62% |
| 3 | Healthcare | 13.61% |
| 4 | Consumer Discretionary | 9.6% |
| 5 | Industrials | 9.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
551
UGI
UGI
$7.78B
| $76.8M | 0.03% |
1,638,806
+23,574
| +1% | +$1.15M |
|
552
Raymond James Financial
RJF
$34.1B
| $76.8M | 0.03% |
1,365,438
| – | – |
|
553
AGNC Investment
AGNC
$12.4B
| $76.5M | 0.03% |
3,527,087
+101,493
| +3% | +$2.17M |
|
554
Northern Trust
NTRS
$33.3B
| $76.4M | 0.03% |
831,337
+149,956
| +22% | +$13.5M |
|
555
Puma Biotechnology
PBYI
$391M
| $76.4M | 0.03% |
638,135
+136,813
| +27% | +$12.7M |
|
556
Douglas Emmett
DEI
$1.99B
| $76.3M | 0.03% |
1,934,698
+800,000
| +71% | +$30.6M |
|
557
Ingredion
INGR
$6.33B
| $75.7M | 0.03% |
627,884
+35,639
| +6% | +$4.34M |
|
558
DigitalBridge
DBRG
$2.93B
| $75.4M | 0.03% |
1,501,019
| – | – |
|
559
Knight Transportation
KNX
$11.1B
| $75M | 0.03% |
+1,804,108
| New | +$68.4M |
|
560
Domino's
DPZ
$12.1B
| $74.9M | 0.03% |
377,320
-50,354
| -12% | -$9.8M |
|
561
ON Semiconductor
ON
$31.3B
| $74.7M | 0.03% |
4,046,448
| – | – |
|
|
CDK
562
DELISTED
CDK Global, Inc.
CDK
| $74.7M | 0.03% |
1,183,792
+336,290
| +40% | +$21.2M |
|
563
SBA Communications
SBAC
$19B
| $74.7M | 0.03% |
518,438
-178,629
| -26% | -$25.4M |
|
|
IPG
564
DELISTED
Interpublic Group of Companies
IPG
| $74.6M | 0.03% |
3,587,579
-405,638
| -10% | -$8.82M |
|
565
Arista Networks
ANET
$233B
| $74.6M | 0.03% |
6,293,664
+403,504
| +7% | +$4.22M |
|
566
US Foods
USFD
$21.9B
| $74.5M | 0.03% |
2,790,078
+866,672
| +45% | +$23.7M |
|
567
Chipotle Mexican Grill
CMG
$47.5B
| $74M | 0.03% |
12,011,900
-2,093,700
| -15% | -$14.1M |
|
568
EQT Corp
EQT
$33.5B
| $73.9M | 0.03% |
2,080,044
+439,226
| +27% | +$14.9M |
|
|
LVNTA
569
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $73.8M | 0.03% |
1,282,513
-276,347
| -18% | -$16M |
|
570
Open Text
OTEX
$6.34B
| $73.5M | 0.03% |
2,283,207
| – | – |
|
571
Allegion
ALLE
$13.7B
| $73.2M | 0.03% |
846,932
+116,378
| +16% | +$9.41M |
|
572
CarMax
KMX
$8.29B
| $73.2M | 0.03% |
965,655
| – | – |
|
|
QVCGA
573
DELISTED
QVC Group Inc Series A
QVCGA
| $73.1M | 0.03% |
63,898
+4,372
| +7% | +$4.91M |
|
574
First American
FAF
$7.7B
| $72.7M | 0.03% |
1,454,795
-45,923
| -3% | -$2.19M |
|
575
Pultegroup
PHM
$24.6B
| $72.7M | 0.03% |
2,659,685
+400,150
| +18% | +$10.1M |
|
Similar funds
Norges Bank's Q3 2017 Portfolio in Review
As of Q3 2017, Norges Bank held 2,207 positions worth $264B, up 4.6% from $252B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q3 2017 filing shows 81 new, 871 increased, 707 reduced and 82 closed positions. Its largest new stake was Alibaba: 1,042,351 shares worth $180M. The largest sale was Du Pont De Nemours E I, an estimated $712M.
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 Q3 2017 buy was Alibaba: 1,042,351 shares worth $180M.
- Norges Bank added most to DuPont de Nemours in Q3 2017, an estimated $764M increase.
- Norges Bank's biggest Q3 2017 reduction was Blackrock, cutting an estimated $428M.
- Norges Bank fully exited Du Pont De Nemours E I in Q3 2017, selling an estimated $712M.
- Norges Bank's ten largest holdings make up 15% of its $264B portfolio in Q3 2017.
- Norges Bank opened 81 new positions and closed 82 in Q3 2017.
- Norges Bank's portfolio value rose 4.6% quarter-over-quarter to $264B.
Based on Norges Bank's 13F filing for Q3 2017, filed 7 Nov 2017.