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 | |
|---|---|---|---|---|---|---|
|
QTS
1451
DELISTED
QTS REALTY TRUST, INC.
QTS
| $19.9M | 0.01% |
549,688
+79,410
| +17% | +$3.41M |
|
1452
RLI Corp
RLI
$5.63B
| $19.9M | 0.01% |
627,606
| – | – |
|
|
MAXR
1453
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
| $19.8M | 0.01% |
428,277
-14,355
| -3% | -$794K |
|
1454
NETGEAR
NTGR
$646M
| $19.8M | 0.01% |
345,639
-175,189
| -34% | -$10.8M |
|
1455
Amkor Technology
AMKR
$12.5B
| $19.8M | 0.01% |
1,951,162
+108,686
| +6% | +$1.13M |
|
|
PNK
1456
DELISTED
Pinnacle Entertainment Inc.
PNK
| $19.8M | 0.01% |
655,075
-395,586
| -38% | -$12.4M |
|
|
INVX
1457
Innovex International
INVX
$1.9B
| $19.7M | 0.01% |
439,677
-99,080
| -18% | -$4.84M |
|
|
NP
1458
DELISTED
Neenah, Inc. Common Stock
NP
| $19.7M | 0.01% |
251,226
-1,000
| -0.4% | -$85K |
|
1459
Astec Industries
ASTE
$1.18B
| $19.7M | 0.01% |
356,730
-16,591
| -4% | -$1M |
|
|
ESV
1460
DELISTED
Ensco Rowan plc
ESV
| $19.6M | 0.01% |
1,117,604
-456,231
| -29% | -$10.1M |
|
|
IBTX
1461
DELISTED
Independent Bank Group, Inc.
IBTX
| $19.6M | 0.01% |
277,386
+100,399
| +57% | +$7.22M |
|
|
AAT
1462
American Assets Trust
AAT
$1.44B
| $19.6M | 0.01% |
586,433
| – | – |
|
|
ALEX
1463
DELISTED
Alexander & Baldwin
ALEX
| $19.5M | 0.01% |
845,146
+250,069
| +42% | +$6.26M |
|
|
RDUS
1464
DELISTED
Radius Recycling
RDUS
| $19.5M | 0.01% |
603,986
-126,571
| -17% | -$4.42M |
|
|
BGG
1465
DELISTED
Briggs & Stratton Corp.
BGG
| $19.5M | 0.01% |
910,752
-4,000
| -0.4% | -$93.3K |
|
1466
Group 1 Automotive
GPI
$3.31B
| $19.5M | 0.01% |
298,204
-17,800
| -6% | -$1.32M |
|
|
MDR
1467
DELISTED
McDermott International
MDR
| $19.5M | 0.01% |
1,066,399
-74,377
| -7% | -$1.7M |
|
|
UCB
1468
United Community Banks
UCB
$4.25B
| $19.5M | 0.01% |
614,803
-341,883
| -36% | -$10.7M |
|
1469
SouthState Bank Corp
SSB
$10.2B
| $19.4M | 0.01% |
227,817
| – | – |
|
1470
Pegasystems
PEGA
$4.97B
| $19.4M | 0.01% |
639,888
+63,730
| +11% | +$1.72M |
|
1471
Spire
SR
$4.76B
| $19.3M | 0.01% |
267,184
+88,202
| +49% | +$6.01M |
|
1472
Scholastic
SCHL
$773M
| $19.3M | 0.01% |
497,261
-45,835
| -8% | -$1.74M |
|
1473
Algonquin Power & Utilities
AQN
$4.56B
| $19.3M | 0.01% |
1,943,734
+802,216
| +70% | +$8.29M |
|
1474
OSI Systems
OSIS
$3.66B
| $19.2M | 0.01% |
294,907
-19,063
| -6% | -$1.24M |
|
|
GRP.U
1475
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $19.2M | 0.01% |
488,145
+110,003
| +29% | +$4.34M |
|
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.