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 |
DD
Du Pont De Nemours E I
DD
|
+$334M |
| 2 |
AABA
Altaba Inc
AABA
|
+$288M |
| 3 |
Chubb
CB
|
+$238M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$235M |
| 5 |
Meta Platforms (Facebook)
META
|
+$229M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$1.25B |
| 2 |
Prudential Financial
PRU
|
+$897M |
| 3 |
YHOO
Yahoo Inc
YHOO
|
+$318M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$313M |
| 5 |
Aflac
AFL
|
+$312M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.76% |
| 2 | Technology | 15.09% |
| 3 | Healthcare | 13.88% |
| 4 | Consumer Discretionary | 9.67% |
| 5 | Industrials | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Netflix
NFLX
$301B
| $505M | 0.2% |
33,793,450
+4,616,620
| +16% | +$71M |
|
|
MON
102
DELISTED
Monsanto Co
MON
| $503M | 0.2% |
4,252,124
+221,577
| +5% | +$25.9M |
|
|
AET
103
DELISTED
Aetna Inc
AET
| $498M | 0.2% |
3,282,042
-314,356
| -9% | -$44.4M |
|
104
Caterpillar
CAT
$375B
| $490M | 0.19% |
4,564,462
+19,990
| +0.4% | +$2.03M |
|
105
EOG Resources
EOG
$76.7B
| $489M | 0.19% |
5,403,104
+319,613
| +6% | +$29.4M |
|
106
Parker-Hannifin
PH
$123B
| $485M | 0.19% |
3,037,374
+91,105
| +3% | +$14.4M |
|
107
ConocoPhillips
COP
$143B
| $485M | 0.19% |
11,030,313
+1,568,143
| +17% | +$73.1M |
|
108
Elevance Health
ELV
$83.5B
| $474M | 0.19% |
2,521,620
-47,136
| -2% | -$8.47M |
|
109
Canadian National Railway
CNI
$78.2B
| $474M | 0.19% |
5,851,485
-48,005
| -0.8% | -$3.66M |
|
110
Applied Materials
AMAT
$371B
| $471M | 0.19% |
11,410,085
+1,239,351
| +12% | +$52.7M |
|
111
CSX Corp
CSX
$93.9B
| $471M | 0.19% |
25,907,760
-2,318,448
| -8% | -$39.7M |
|
112
Boston Scientific
BSX
$64.1B
| $464M | 0.18% |
16,730,007
+873,796
| +6% | +$23.2M |
|
|
RTN
113
DELISTED
Raytheon Company
RTN
| $457M | 0.18% |
2,831,022
+51,301
| +2% | +$8.13M |
|
|
ALXN
114
DELISTED
Alexion Pharmaceuticals
ALXN
| $456M | 0.18% |
3,748,280
+664,110
| +22% | +$77.3M |
|
115
Suncor Energy
SU
$77.4B
| $454M | 0.18% |
15,555,278
-1,028,044
| -6% | -$31.6M |
|
116
Bank of Montreal
BMO
$125B
| $442M | 0.18% |
6,026,193
+271,159
| +5% | +$19.2M |
|
117
T-Mobile US
TMUS
$196B
| $440M | 0.17% |
7,257,306
-972,446
| -12% | -$63.4M |
|
118
Cigna
CI
$79.7B
| $437M | 0.17% |
2,609,205
| – | – |
|
119
Simon Property Group
SPG
$76.7B
| $436M | 0.17% |
2,695,325
+954,374
| +55% | +$155M |
|
120
Deere & Co
DE
$169B
| $432M | 0.17% |
3,495,155
+631,669
| +22% | +$74.1M |
|
121
TJX Companies
TJX
$177B
| $430M | 0.17% |
11,916,976
-414,068
| -3% | -$15.6M |
|
122
Occidental Petroleum
OXY
$55.3B
| $411M | 0.16% |
6,865,321
-89,103
| -1% | -$5.45M |
|
123
TC Energy
TRP
$70.9B
| $406M | 0.16% |
8,528,229
+166,105
| +2% | +$7.8M |
|
124
DuPont de Nemours
DD
$18.8B
| $402M | 0.16% |
2,518,077
+183,003
| +8% | +$29.1M |
|
125
Cummins
CMI
$86.9B
| $397M | 0.16% |
2,449,254
+76,486
| +3% | +$11.9M |
|
Similar funds
Norges Bank's Q2 2017 Portfolio in Review
As of Q2 2017, Norges Bank held 2,216 positions worth $252B, up 3.4% from $244B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q2 2017 filing shows 77 new, 1,043 increased, 752 reduced and 90 closed positions. Its largest new stake was Altaba Inc: 5,288,554 shares worth $288M. The largest sale was Blackrock, an estimated $1.25B.
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 Q2 2017 buy was Altaba Inc: 5,288,554 shares worth $288M.
- Norges Bank added most to Du Pont De Nemours E I in Q2 2017, an estimated $334M increase.
- Norges Bank's biggest Q2 2017 reduction was Blackrock, cutting an estimated $1.25B.
- Norges Bank fully exited Yahoo Inc in Q2 2017, selling an estimated $318M.
- Norges Bank's ten largest holdings make up 15% of its $252B portfolio in Q2 2017.
- Norges Bank opened 77 new positions and closed 90 in Q2 2017.
- Norges Bank's portfolio value rose 3.4% quarter-over-quarter to $252B.
Based on Norges Bank's 13F filing for Q2 2017, filed 2 Aug 2017.