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 | 18.89% |
| 2 | Technology | 16.06% |
| 3 | Healthcare | 12.94% |
| 4 | Consumer Discretionary | 10.19% |
| 5 | Industrials | 9.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BKI
551
DELISTED
Black Knight, Inc. Common Stock
BKI
| $82.5M | 0.03% |
1,868,062
+1,327,120
| +245% | +$60M |
|
552
Reinsurance Group of America
RGA
$15.5B
| $82.3M | 0.03% |
527,986
+25,809
| +5% | +$3.91M |
|
553
Norwegian Cruise Line
NCLH
$9.07B
| $82.2M | 0.03% |
1,543,463
+66,598
| +5% | +$3.69M |
|
|
SIVB
554
DELISTED
SVB Financial Group
SIVB
| $82M | 0.03% |
350,844
-10,307
| -3% | -$2.2M |
|
555
Core Laboratories
CLB
$491M
| $81.7M | 0.03% |
745,464
+88,909
| +14% | +$8.87M |
|
556
Lamb Weston
LW
$7.29B
| $81.6M | 0.03% |
1,444,880
| – | – |
|
557
First American
FAF
$7.7B
| $81.5M | 0.03% |
1,454,795
| – | – |
|
558
Open Text
OTEX
$6.34B
| $81.5M | 0.03% |
2,283,207
| – | – |
|
559
Brighthouse Financial
BHF
$3.55B
| $81.3M | 0.03% |
1,386,263
+204,426
| +17% | +$12.1M |
|
560
Helmerich & Payne
HP
$3.41B
| $80.3M | 0.03% |
1,241,596
| – | – |
|
561
Jack Henry & Associates
JKHY
$11.1B
| $79.8M | 0.03% |
682,673
| – | – |
|
562
Wheaton Precious Metals
WPM
$50.8B
| $79.5M | 0.03% |
3,585,714
+39,531
| +1% | +$824K |
|
563
AerCap
AER
$24.2B
| $79.4M | 0.03% |
1,508,792
-73,913
| -5% | -$3.85M |
|
|
VIAB
564
DELISTED
Viacom Inc. Class B
VIAB
| $79.3M | 0.03% |
2,572,875
+290,800
| +13% | +$7.9M |
|
565
AXIS Capital
AXS
$7.72B
| $79.2M | 0.03% |
1,575,311
| – | – |
|
|
HOLX
566
DELISTED
Hologic
HOLX
| $79.1M | 0.03% |
1,851,259
-20,259
| -1% | -$808K |
|
567
Targa Resources
TRGP
$56.8B
| $78.8M | 0.03% |
1,626,668
-400,546
| -20% | -$17.9M |
|
568
Carlisle Companies
CSL
$14.8B
| $78.6M | 0.03% |
691,878
+44,226
| +7% | +$4.82M |
|
569
Akamai
AKAM
$17.1B
| $78.4M | 0.03% |
1,205,557
+336,396
| +39% | +$18.6M |
|
570
BioMarin Pharmaceuticals
BMRN
$11.6B
| $78.3M | 0.03% |
878,056
+136,767
| +18% | +$11.9M |
|
|
VER
571
DELISTED
VEREIT, Inc.
VER
| $78.2M | 0.03% |
2,007,642
+137,904
| +7% | +$5.53M |
|
572
Xerox
XRX
$411M
| $78.1M | 0.03% |
2,678,165
| – | – |
|
|
HDS
573
DELISTED
HD Supply Holdings, Inc.
HDS
| $78M | 0.03% |
1,948,502
| – | – |
|
574
Curtiss-Wright
CW
$27.6B
| $77.9M | 0.03% |
639,460
-30,625
| -5% | -$3.61M |
|
575
XPO
XPO
$23.1B
| $77.8M | 0.03% |
2,455,166
-351,935
| -13% | -$9M |
|
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.