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 |
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 | 18.93% |
| 2 | Technology | 15.97% |
| 3 | Healthcare | 14% |
| 4 | Consumer Discretionary | 9.71% |
| 5 | Industrials | 9.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
76
Adobe
ADBE
$94.3B
| $658M | 0.25% |
4,411,701
+107,886
| +3% | +$16.1M |
2013 Q2
17 quarters
|
|
77
Enbridge
ENB
$104B
| $654M | 0.25% |
15,679,889
+498,907
| +3% | +$20.3M |
2013 Q2
17 quarters
|
|
78
Mondelez International
MDLZ
$77.1B
| $652M | 0.25% |
16,045,437
-1,920,914
| -11% | -$81.6M |
2013 Q2
17 quarters
|
|
79
Netflix
NFLX
$293B
| $648M | 0.25% |
35,716,320
+1,922,870
| +6% | +$33.5M |
2013 Q2
17 quarters
|
|
80
Lowe's Companies
LOW
$104B
| $642M | 0.24% |
8,030,461
-392,843
| -5% | -$30.1M |
2013 Q2
17 quarters
|
|
81
Prudential Financial
PRU
$39B
| $642M | 0.24% |
6,034,752
-94,614
| -2% | -$10.1M |
2013 Q2
17 quarters
|
|
82
Aflac
AFL
$57.4B
| $637M | 0.24% |
15,655,542
-2,774,380
| -15% | -$112M |
2013 Q2
17 quarters
|
|
83
United Parcel Service
UPS
$80.5B
| $634M | 0.24% |
5,275,912
+44,583
| +0.9% | +$5.07M |
2013 Q2
17 quarters
|
|
84
Costco
COST
$420B
| $633M | 0.24% |
3,854,666
-31,641
| -0.8% | -$4.97M |
2013 Q2
17 quarters
|
|
85
Biogen
BIIB
$33.3B
| $632M | 0.24% |
2,019,198
+4,721
| +0.2% | +$1.4M |
2013 Q2
17 quarters
|
|
86
Illinois Tool Works
ITW
$75.2B
| $628M | 0.24% |
4,246,301
+41,765
| +1% | +$5.94M |
2013 Q2
17 quarters
|
|
87
Morgan Stanley
MS
$298B
| $625M | 0.24% |
12,977,985
+785,609
| +6% | +$36.4M |
2013 Q2
17 quarters
|
|
88
PayPal
PYPL
$47.5B
| $623M | 0.24% |
9,736,537
+97,158
| +1% | +$5.82M |
2015 Q3
8 quarters
|
|
89
Goldman Sachs
GS
$261B
| $623M | 0.24% |
2,625,755
-25,555
| -1% | -$5.76M |
2013 Q2
17 quarters
|
|
90
Nike
NKE
$51.6B
| $618M | 0.23% |
11,910,542
+601,417
| +5% | +$33.8M |
2013 Q2
17 quarters
|
|
91
ConocoPhillips
COP
$161B
| $603M | 0.23% |
12,043,727
+1,013,414
| +9% | +$45.5M |
2013 Q2
17 quarters
|
|
92
Salesforce
CRM
$189B
| $599M | 0.23% |
6,411,557
+578,530
| +10% | +$53.2M |
2013 Q2
17 quarters
|
|
93
Colgate-Palmolive
CL
$70.4B
| $595M | 0.23% |
8,161,189
| – | – |
2013 Q2
17 quarters
|
|
94
Danaher
DHR
$155B
| $592M | 0.22% |
7,790,583
+372,197
| +5% | +$27.5M |
2013 Q2
17 quarters
|
|
95
Parker-Hannifin
PH
$121B
| $571M | 0.22% |
3,262,374
+225,000
| +7% | +$36.9M |
2013 Q2
17 quarters
|
|
96
PNC Financial Services
PNC
$87.5B
| $570M | 0.22% |
4,231,179
+58,584
| +1% | +$7.52M |
2013 Q2
17 quarters
|
|
97
Caterpillar
CAT
$368B
| $565M | 0.21% |
4,527,334
-37,128
| -0.8% | -$4.28M |
2013 Q2
17 quarters
|
|
|
GGP
98
DELISTED
GGP Inc.
GGP
| $564M | 0.21% |
27,139,822
| – | – |
2013 Q2
17 quarters
|
|
99
Applied Materials
AMAT
$402B
| $559M | 0.21% |
10,731,411
-678,674
| -6% | -$30.7M |
2013 Q2
17 quarters
|
|
|
100
Lear
LEA
$5.82B
| $554M | 0.21% |
3,203,527
+1,120,211
| +54% | +$169M |
2013 Q2
17 quarters
|
|
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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.