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 | |
|---|---|---|---|---|---|---|
1426
Insight Enterprises
NSIT
$3.91B
| $20.3M | 0.01% |
581,288
+149,827
| +35% | +$5.42M |
|
1427
Axos Financial
AX
$5.67B
| $20.3M | 0.01% |
499,939
+391,422
| +361% | +$14.3M |
|
1428
Yelp
YELP
$1.45B
| $20.3M | 0.01% |
485,292
-195,639
| -29% | -$8.51M |
|
1429
Red Rock Resorts
RRR
$3.77B
| $20.3M | 0.01% |
691,914
+419,176
| +154% | +$13.8M |
|
1430
Belden
BDC
$4.81B
| $20.2M | 0.01% |
293,371
-213,639
| -42% | -$16.4M |
|
|
DO
1431
DELISTED
Diamond Offshore Drilling
DO
| $20.2M | 0.01% |
1,378,998
| – | – |
|
1432
Cogent Communications
CCOI
$657M
| $20.2M | 0.01% |
465,514
+6,700
| +1% | +$294K |
|
1433
Matthews International
MATW
$861M
| $20.2M | 0.01% |
399,201
-5,500
| -1% | -$292K |
|
|
QEP
1434
DELISTED
QEP RESOURCES, INC.
QEP
| $20.2M | 0.01% |
2,062,832
-504,392
| -20% | -$4.77M |
|
1435
Dillards
DDS
$9.2B
| $20.2M | 0.01% |
251,295
| – | – |
|
|
BID
1436
DELISTED
Sotheby's
BID
| $20.2M | 0.01% |
393,232
+111,506
| +40% | +$5.68M |
|
|
AFSI
1437
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $20.2M | 0.01% |
1,639,036
+632,136
| +63% | +$7.93M |
|
|
INN
1438
Summit Hotel Properties
INN
$746M
| $20.2M | 0.01% |
1,480,730
+300,000
| +25% | +$4.3M |
|
1439
BOK Financial
BOKF
$8.6B
| $20.1M | 0.01% |
203,422
+37,600
| +23% | +$3.62M |
|
1440
BlackBerry
BB
$5.05B
| $20.1M | 0.01% |
1,751,188
+1,040,813
| +147% | +$13.2M |
|
|
LQ
1441
DELISTED
La Quinta Holdings Inc.
LQ
| $20.1M | 0.01% |
1,063,103
-168,700
| -14% | -$3.19M |
|
1442
Arcos Dorados Holdings
ARCO
$1.73B
| $20.1M | 0.01% |
2,257,601
-1,376,359
| -38% | -$12.9M |
|
|
LMNX
1443
DELISTED
Luminex Corp
LMNX
| $20M | 0.01% |
951,473
-45,828
| -5% | -$937K |
|
1444
TTEC Holdings
TTEC
$122M
| $20M | 0.01% |
652,367
-40,781
| -6% | -$1.51M |
|
|
ROIC
1445
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $20M | 0.01% |
1,132,353
| – | – |
|
1446
Home BancShares
HOMB
$6.2B
| $20M | 0.01% |
876,209
| – | – |
|
1447
Helios Technologies
HLIO
$2.62B
| $20M | 0.01% |
373,057
+125,452
| +51% | +$7.39M |
|
|
LXFT
1448
DELISTED
Luxoft Holding, Inc.
LXFT
| $20M | 0.01% |
487,842
-114,890
| -19% | -$5.7M |
|
|
TLRD
1449
DELISTED
Tailored Brands, Inc.
TLRD
| $19.9M | 0.01% |
794,895
+483,596
| +155% | +$11.2M |
|
|
PFPT
1450
DELISTED
Proofpoint, Inc.
PFPT
| $19.9M | 0.01% |
175,203
+162,229
| +1,250% | +$17.2M |
|
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.