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 | |
|---|---|---|---|---|---|---|
|
BDN
1076
Brandywine Realty Trust
BDN
$524M
| $32.9M | 0.01% |
2,069,394
| – | – |
|
|
ERF
1077
DELISTED
Enerplus Corporation
ERF
| $32.8M | 0.01% |
2,922,222
| – | – |
|
1078
Methode Electronics
MEI
$496M
| $32.8M | 0.01% |
839,685
-131,612
| -14% | -$5.33M |
|
1079
Descartes Systems
DSGX
$6.44B
| $32.8M | 0.01% |
1,149,467
-9,575
| -0.8% | -$267K |
|
|
VG
1080
DELISTED
Vonage Holdings Corporation
VG
| $32.8M | 0.01% |
3,076,051
+18,000
| +0.6% | +$192K |
|
|
TEN
1081
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $32.7M | 0.01% |
596,261
+62,764
| +12% | +$3.58M |
|
1082
O-I Glass
OI
$1.1B
| $32.7M | 0.01% |
1,509,416
+30,100
| +2% | +$667K |
|
|
CIM
1083
Chimera Investment
CIM
$1.04B
| $32.6M | 0.01% |
624,662
| – | – |
|
|
EE
1084
DELISTED
El Paso Electric Company
EE
| $32.5M | 0.01% |
638,069
| – | – |
|
1085
ZTO Express
ZTO
$18.3B
| $32.5M | 0.01% |
2,168,761
+551,584
| +34% | +$8.65M |
|
1086
Vishay Intertechnology
VSH
$5.25B
| $32.5M | 0.01% |
1,745,232
+414,799
| +31% | +$8.31M |
|
1087
IAMGOLD
IAG
$8.2B
| $32.4M | 0.01% |
6,251,911
-209,400
| -3% | -$1.17M |
|
1088
Ligand Pharmaceuticals
LGND
$5.76B
| $32.4M | 0.01% |
314,215
+31,899
| +11% | +$3.15M |
|
1089
NCR Voyix
VYX
$1.14B
| $32.2M | 0.01% |
1,666,504
-729,609
| -30% | -$15.4M |
|
|
LEXEA
1090
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
| $32.2M | 0.01% |
819,541
-155,670
| -16% | -$6.65M |
|
1091
Churchill Downs
CHDN
$5.88B
| $32.2M | 0.01% |
791,160
-30,546
| -4% | -$1.3M |
|
1092
United Bankshares
UBSI
$6.63B
| $32.2M | 0.01% |
912,662
| – | – |
|
1093
Blackstone Mortgage Trust
BXMT
$2.45B
| $32.2M | 0.01% |
1,023,676
| – | – |
|
1094
Kennametal
KMT
$2.59B
| $32.1M | 0.01% |
800,324
+189,215
| +31% | +$8.64M |
|
1095
Five Below
FIVE
$12B
| $32.1M | 0.01% |
438,085
+52,439
| +14% | +$3.53M |
|
1096
VICI Properties
VICI
$29B
| $32.1M | 0.01% |
+1,750,000
| New | +$34.2M |
|
|
LHO
1097
DELISTED
LaSalle Hotel Properties
LHO
| $32M | 0.01% |
1,104,188
| – | – |
|
1098
Caleres
CAL
$431M
| $32M | 0.01% |
952,356
-189,202
| -17% | -$5.8M |
|
1099
Columbia Sportswear
COLM
$3.04B
| $32M | 0.01% |
418,236
| – | – |
|
1100
Generac Holdings
GNRC
$11.6B
| $31.9M | 0.01% |
695,637
+21,440
| +3% | +$1.02M |
|
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.