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 | |
|---|---|---|---|---|---|---|
|
OSB
776
DELISTED
Norbord Inc.
OSB
| $51.4M | 0.02% |
1,419,641
+72,842
| +5% | +$2.6M |
|
777
International Flavors & Fragrances
IFF
$20.2B
| $51.4M | 0.02% |
375,609
| – | – |
|
778
Middleby
MIDD
$6.04B
| $51.2M | 0.02% |
413,872
| – | – |
|
|
ORBK
779
DELISTED
Orbotech Ltd
ORBK
| $51M | 0.02% |
820,977
+170,271
| +26% | +$9.35M |
|
780
RPM International
RPM
$13.7B
| $51M | 0.02% |
1,069,848
+46,300
| +5% | +$2.36M |
|
781
United Therapeutics
UTHR
$25.8B
| $51M | 0.02% |
453,761
| – | – |
|
|
BBBY
782
DELISTED
Bed Bath & Beyond Inc
BBBY
| $50.7M | 0.02% |
2,414,139
| – | – |
|
|
ATHN
783
DELISTED
Athenahealth, Inc.
ATHN
| $50.6M | 0.02% |
354,112
+17,400
| +5% | +$2.38M |
|
784
Cabot Corp
CBT
$4.54B
| $50.6M | 0.02% |
908,055
-150,646
| -14% | -$9.51M |
|
785
Globus Medical
GMED
$10.7B
| $50.5M | 0.02% |
1,012,935
+49,140
| +5% | +$2.31M |
|
|
GG
786
DELISTED
Goldcorp Inc
GG
| $50.4M | 0.02% |
3,653,464
-81,409
| -2% | -$1.1M |
|
787
First Horizon
FHN
$12.2B
| $50.4M | 0.02% |
2,677,006
+150,081
| +6% | +$2.96M |
|
|
EV
788
DELISTED
Eaton Vance Corp.
EV
| $50.2M | 0.02% |
901,111
+16,458
| +2% | +$934K |
|
789
Williams-Sonoma
WSM
$26.9B
| $50.1M | 0.02% |
1,899,306
| – | – |
|
|
ADSW
790
DELISTED
Advanced Disposal Services Inc
ADSW
| $50.1M | 0.02% |
2,248,323
+431,207
| +24% | +$10M |
|
791
Hexcel
HXL
$7.79B
| $49.8M | 0.02% |
771,451
+125,732
| +19% | +$8.28M |
|
792
American Eagle Outfitters
AEO
$2.88B
| $49.5M | 0.02% |
2,483,923
+376,760
| +18% | +$7.06M |
|
|
SKX
793
DELISTED
Skechers
SKX
| $49.5M | 0.02% |
1,272,013
| – | – |
|
794
Maximus
MMS
$3.17B
| $49.3M | 0.02% |
738,705
+53,786
| +8% | +$3.66M |
|
|
KS
795
DELISTED
KapStone Paper and Pack Corp.
KS
| $49.3M | 0.02% |
1,436,306
-135,552
| -9% | -$4.33M |
|
796
Quanta Services
PWR
$100B
| $49.2M | 0.02% |
1,432,014
-87,100
| -6% | -$3.16M |
|
|
NUVA
797
DELISTED
NuVasive, Inc.
NUVA
| $49.1M | 0.02% |
941,399
+152,369
| +19% | +$7.73M |
|
798
Bankunited
BKU
$3.37B
| $49.1M | 0.02% |
1,228,974
| – | – |
|
799
Landstar System
LSTR
$5.93B
| $49M | 0.02% |
447,244
-93,981
| -17% | -$10.3M |
|
800
Service Corp International
SCI
$11.7B
| $49M | 0.02% |
1,299,078
| – | – |
|
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.