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 | |
|---|---|---|---|---|---|---|
951
Winnebago Industries
WGO
$901M
| $39.8M | 0.01% |
715,774
+72,400
| +11% | +$3.64M |
|
952
American Eagle Outfitters
AEO
$3.03B
| $39.6M | 0.01% |
2,107,163
-234,352
| -10% | -$3.53M |
|
953
Globus Medical
GMED
$11.1B
| $39.6M | 0.01% |
963,795
-71,356
| -7% | -$2.5M |
|
|
AEL
954
DELISTED
American Equity Investment Life Holding Company
AEL
| $39.6M | 0.01% |
1,288,530
-39,133
| -3% | -$1.19M |
|
|
CSGS
955
DELISTED
CSG Systems International
CSGS
| $39.6M | 0.01% |
902,845
+69,823
| +8% | +$3.01M |
|
956
Rogers Corp
ROG
$2.37B
| $39.5M | 0.01% |
244,099
-18,298
| -7% | -$2.76M |
|
|
SWN
957
DELISTED
Southwestern Energy Company
SWN
| $39.5M | 0.01% |
7,082,869
| – | – |
|
958
Brink's
BCO
$4.86B
| $39.4M | 0.01% |
501,216
-81,023
| -14% | -$6.56M |
|
|
AXE
959
DELISTED
Anixter International Inc
AXE
| $39.4M | 0.01% |
518,847
-69,049
| -12% | -$5.08M |
|
|
ISBC
960
DELISTED
Investors Bancorp, Inc.
ISBC
| $39.4M | 0.01% |
2,839,667
-92,857
| -3% | -$1.29M |
|
961
Live Nation Entertainment
LYV
$42.8B
| $39.4M | 0.01% |
924,972
-150,523
| -14% | -$6.55M |
|
962
United Natural Foods
UNFI
$2.94B
| $39.4M | 0.01% |
799,088
+117,938
| +17% | +$5.15M |
|
|
AKRX
963
DELISTED
Akorn Inc
AKRX
| $39.3M | 0.01% |
1,219,916
| – | – |
|
964
Belden
BDC
$4.98B
| $39.1M | 0.01% |
507,010
-87,848
| -15% | -$7.26M |
|
965
Benchmark Electronics
BHE
$3.07B
| $39.1M | 0.01% |
1,342,861
| – | – |
|
966
Methode Electronics
MEI
$536M
| $38.9M | 0.01% |
971,297
| – | – |
|
967
Sunstone Hotel Investors
SHO
$2.16B
| $38.9M | 0.01% |
2,354,512
+67,901
| +3% | +$1.12M |
|
968
CNX Resources
CNX
$5.27B
| $38.9M | 0.01% |
+2,660,000
| New | +$36.7M |
|
969
Dick's Sporting Goods
DKS
$18B
| $38.9M | 0.01% |
1,353,785
+266,703
| +25% | +$7.36M |
|
970
Atmos Energy
ATO
$28.8B
| $38.9M | 0.01% |
452,740
-42,868
| -9% | -$3.77M |
|
971
Protolabs
PRLB
$2.11B
| $38.9M | 0.01% |
377,464
-104,163
| -22% | -$9.35M |
|
972
Texas Roadhouse
TXRH
$13.7B
| $38.8M | 0.01% |
736,583
| – | – |
|
973
Silgan Holdings
SLGN
$4.47B
| $38.8M | 0.01% |
1,320,048
-162,134
| -11% | -$4.69M |
|
|
EQC
974
DELISTED
Equity Commonwealth
EQC
| $38.7M | 0.01% |
1,268,628
| – | – |
|
975
Boise Cascade
BCC
$3.04B
| $38.6M | 0.01% |
967,732
+267,169
| +38% | +$9.9M |
|
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.