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 | |
|---|---|---|---|---|---|---|
601
Neurocrine Biosciences
NBIX
$16.8B
| $72.7M | 0.03% |
876,268
| – | – |
|
602
Veeva Systems
VEEV
$33.1B
| $72.7M | 0.03% |
995,132
+332,893
| +50% | +$21.5M |
|
603
Allegion
ALLE
$13.4B
| $72.2M | 0.03% |
846,932
| – | – |
|
|
GRA
604
DELISTED
W.R. Grace & Co.
GRA
| $71.9M | 0.03% |
1,174,568
+542,203
| +86% | +$37.2M |
|
|
WCC
605
WESCO International
WCC
$16.7B
| $71.9M | 0.03% |
1,158,222
+476,426
| +70% | +$30.7M |
|
606
Open Text
OTEX
$6.15B
| $71.8M | 0.03% |
2,065,068
-218,139
| -10% | -$7.61M |
|
607
US Foods
USFD
$22.2B
| $71.7M | 0.03% |
2,187,523
-1,016,703
| -32% | -$33.2M |
|
608
Targa Resources
TRGP
$58B
| $71.6M | 0.03% |
1,626,668
| – | – |
|
609
Brighthouse Financial
BHF
$3.56B
| $71.4M | 0.03% |
1,389,684
+3,421
| +0.2% | +$198K |
|
610
TAL Education Group
TAL
$6.93B
| $71.3M | 0.03% |
1,923,305
+448,961
| +30% | +$15.4M |
|
611
Tyler Technologies
TYL
$12.7B
| $71.3M | 0.03% |
337,880
+16,251
| +5% | +$3.25M |
|
612
OGE Energy
OGE
$9.78B
| $71M | 0.03% |
2,166,124
| – | – |
|
613
United Airlines
UAL
$39.4B
| $70.9M | 0.03% |
1,020,251
+114,600
| +13% | +$7.92M |
|
614
MarketAxess Holdings
MKTX
$5.71B
| $70.9M | 0.03% |
325,954
-55,551
| -15% | -$11.4M |
|
615
Nasdaq
NDAQ
$52.7B
| $70.6M | 0.03% |
2,458,173
+413,721
| +20% | +$11.2M |
|
616
Vail Resorts
MTN
$5.32B
| $70.6M | 0.03% |
318,462
| – | – |
|
|
CTLT
617
DELISTED
CATALENT, INC.
CTLT
| $70.5M | 0.03% |
1,716,869
+572,496
| +50% | +$24.4M |
|
618
Gildan
GIL
$10.3B
| $70.1M | 0.03% |
2,430,116
+117,496
| +5% | +$3.63M |
|
619
Molson Coors Class B
TAP
$7.79B
| $69.8M | 0.03% |
926,273
+2,106
| +0.2% | +$168K |
|
620
Haemonetics
HAE
$3.89B
| $69.7M | 0.03% |
953,373
| – | – |
|
|
MSCC
621
DELISTED
Microsemi Corp
MSCC
| $69.5M | 0.03% |
1,073,449
+263,582
| +33% | +$16.3M |
|
622
Kimco Realty
KIM
$17.2B
| $69.4M | 0.03% |
4,818,893
| – | – |
|
623
East-West Bancorp
EWBC
$17.9B
| $69.2M | 0.03% |
1,106,754
-28,800
| -3% | -$1.89M |
|
|
SJR
624
DELISTED
Shaw Communications Inc.
SJR
| $69.2M | 0.03% |
3,593,124
-105,200
| -3% | -$2.16M |
|
625
Toll Brothers
TOL
$13.6B
| $69.2M | 0.03% |
1,598,901
+556,537
| +53% | +$26.1M |
|
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.