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 | 18.93% |
| 2 | Technology | 15.43% |
| 3 | Healthcare | 14.28% |
| 4 | Consumer Discretionary | 9.81% |
| 5 | Industrials | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ROIC
1351
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $21.7M | 0.01% |
1,132,353
| – | – |
|
|
GOOS
1352
Canada Goose Holdings
GOOS
$725M
| $21.7M | 0.01% |
1,100,000
+500,000
| +83% | +$9.27M |
|
|
ARI
1353
Apollo Commercial Real Estate
ARI
$836M
| $21.7M | 0.01% |
1,169,231
+1,054,196
| +916% | +$19.7M |
|
1354
J&J Snack Foods
JJSF
$1.51B
| $21.7M | 0.01% |
164,185
+30,117
| +22% | +$4.01M |
|
|
BIG
1355
DELISTED
Big Lots, Inc.
BIG
| $21.7M | 0.01% |
448,928
-224,871
| -33% | -$10.9M |
|
|
DMC
1356
Del Monte Corp
DMC
$1.49B
| $21.6M | 0.01% |
425,099
-48,867
| -10% | -$2.65M |
|
|
ALOG
1357
DELISTED
Analogic Corp
ALOG
| $21.6M | 0.01% |
297,666
+76,594
| +35% | +$5.49M |
|
1358
TripAdvisor
TRIP
$1.05B
| $21.6M | 0.01% |
565,925
| – | – |
|
1359
Innospec
IOSP
$2.29B
| $21.6M | 0.01% |
329,457
+9,088
| +3% | +$584K |
|
|
FMBI
1360
DELISTED
First Midwest Bancorp Inc/IL
FMBI
| $21.6M | 0.01% |
926,208
+242,020
| +35% | +$5.56M |
|
|
AVX
1361
DELISTED
AVX Corporation
AVX
| $21.5M | 0.01% |
1,318,289
+2,482
| +0.2% | +$40.9K |
|
1362
Astec Industries
ASTE
$942M
| $21.5M | 0.01% |
388,001
+182,355
| +89% | +$10.7M |
|
1363
GSK
GSK
$101B
| $21.5M | 0.01% |
398,991
| – | – |
|
|
PRSU
1364
Pursuit Attractions and Hospitality Inc
PRSU
$1.33B
| $21.5M | 0.01% |
454,978
+13,594
| +3% | +$608K |
|
1365
NBT Bancorp
NBTB
$2.68B
| $21.5M | 0.01% |
581,170
-12,621
| -2% | -$469K |
|
|
TVTY
1366
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $21.4M | 0.01% |
537,370
-159,116
| -23% | -$5.32M |
|
|
CAB
1367
DELISTED
Cabela's Inc
CAB
| $21.4M | 0.01% |
359,415
+41,452
| +13% | +$2.29M |
|
|
SPWR
1368
DELISTED
SunPower Corporation Common Stock
SPWR
| $21.3M | 0.01% |
3,485,547
-1,416,598
| -29% | -$6.96M |
|
1369
United Fire Group
UFCS
$1.41B
| $21.3M | 0.01% |
483,514
+40,800
| +9% | +$1.77M |
|
1370
Tanger
SKT
$4.11B
| $21.2M | 0.01% |
815,110
-131,186
| -14% | -$3.73M |
|
|
DEL
1371
DELISTED
Deltic Timber
DEL
| $21.2M | 0.01% |
283,516
-7,143
| -2% | -$526K |
|
1372
KBR
KBR
$4.61B
| $21.2M | 0.01% |
1,390,191
-650,419
| -32% | -$9.64M |
|
1373
Cheesecake Factory
CAKE
$4.83B
| $21.1M | 0.01% |
419,811
-40,669
| -9% | -$2.4M |
|
1374
IMAX
IMAX
$2.86B
| $21.1M | 0.01% |
958,664
+297,495
| +45% | +$8.34M |
|
|
MLNX
1375
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $21.1M | 0.01% |
486,964
-102,833
| -17% | -$4.88M |
|
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.