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
|
+$836M |
| 2 |
VMRK
Vivmark Residential
VMRK
|
+$579M |
| 3 |
Equitable Holdings
EQH
|
+$351M |
| 4 |
AT&T
T
|
+$345M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$282M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$657M |
| 2 |
MON
Monsanto Co
MON
|
+$486M |
| 3 |
Apple
AAPL
|
+$230M |
| 4 |
American International
AIG
|
+$211M |
| 5 |
SL Green Realty
SLG
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.86% |
| 2 | Technology | 17.5% |
| 3 | Healthcare | 13.06% |
| 4 | Consumer Discretionary | 11.54% |
| 5 | Communication Services | 9.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BPFH
1676
DELISTED
Boston Private Financial Holdings, Inc.
BPFH
| $14.6M | 0.01% |
918,569
| – | – |
|
1677
Meritage Homes
MTH
$4.29B
| $14.6M | 0.01% |
664,542
| – | – |
|
1678
G-III Apparel Group
GIII
$1.19B
| $14.6M | 0.01% |
328,816
+281,042
| +588% | +$11.4M |
|
|
FFG
1679
DELISTED
FBL Financial Group
FFG
| $14.5M | 0.01% |
184,063
+3,765
| +2% | +$293K |
|
1680
Rayonier Advanced Materials
RYAM
$558M
| $14.5M | 0.01% |
846,317
-144,981
| -15% | -$2.79M |
|
|
SPN
1681
DELISTED
Superior Energy Services, Inc.
SPN
| $14.5M | 0.01% |
148,368
| – | – |
|
|
IBTX
1682
DELISTED
Independent Bank Group, Inc.
IBTX
| $14.4M | 0.01% |
216,063
-61,323
| -22% | -$4.47M |
|
1683
Donnelley Financial Solutions
DFIN
$1.18B
| $14.4M | ﹤0.01% |
829,831
+69,034
| +9% | +$1.19M |
|
|
KG
1684
Kestrel Group
KG
$47.7M
| $14.4M | ﹤0.01% |
92,970
| – | – |
|
|
BMCH
1685
DELISTED
BMC Stock Holdings, Inc
BMCH
| $14.4M | ﹤0.01% |
690,894
+229,671
| +50% | +$4.56M |
|
1686
Opko Health
OPK
$1.17B
| $14.4M | ﹤0.01% |
3,058,773
+310,559
| +11% | +$1.18M |
|
|
CSII
1687
DELISTED
Cardiovascular Systems, Inc.
CSII
| $14.4M | ﹤0.01% |
444,445
| – | – |
|
1688
Republic Bancorp
RBCAA
$1.9B
| $14.4M | ﹤0.01% |
316,958
| – | – |
|
1689
GSK
GSK
$100B
| $14.3M | ﹤0.01% |
284,082
| – | – |
|
1690
Tennant Co
TNC
$1.17B
| $14.3M | ﹤0.01% |
181,108
-95,874
| -35% | -$7.17M |
|
1691
Adecoagro
AGRO
$1.67B
| $14.3M | ﹤0.01% |
1,795,603
-731,340
| -29% | -$5.86M |
|
1692
Piper Sandler
PIPR
$5.16B
| $14.3M | ﹤0.01% |
742,260
-2,528
| -0.3% | -$49.5K |
|
1693
Modine Manufacturing
MOD
$9.5B
| $14.2M | ﹤0.01% |
777,362
-9,136
| -1% | -$171K |
|
1694
Forrester Research
FORR
$225M
| $14.1M | ﹤0.01% |
336,476
-99,498
| -23% | -$4.26M |
|
|
HMHC
1695
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $14.1M | ﹤0.01% |
1,841,748
| – | – |
|
|
FSP
1696
Franklin Street Properties
FSP
$34.9M
| $14.1M | ﹤0.01% |
1,644,082
| – | – |
|
|
ITG
1697
DELISTED
Investment Technology Group Inc
ITG
| $14.1M | ﹤0.01% |
672,335
| – | – |
|
|
FNSR
1698
DELISTED
Finisar Corp
FNSR
| $14M | ﹤0.01% |
777,409
| – | – |
|
1699
Bilibili
BILI
$6.37B
| $14M | ﹤0.01% |
1,000,000
-500,000
| -33% | -$6.82M |
|
|
LKSD
1700
DELISTED
LSC Communications, Inc.
LKSD
| $13.9M | ﹤0.01% |
890,700
+57,836
| +7% | +$840K |
|
Similar funds
Norges Bank's Q2 2018 Portfolio in Review
As of Q2 2018, Norges Bank held 2,219 positions worth $291B, up 5.4% from $276B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Norges Bank's Q2 2018 filing shows 75 new, 838 increased, 618 reduced and 85 closed positions. Its largest new stake was Equitable Holdings: 16,478,469 shares worth $340M. The largest sale was Time Warner Inc, an estimated $657M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q2 2018 buy was Equitable Holdings: 16,478,469 shares worth $340M.
- Norges Bank added most to Alibaba in Q2 2018, an estimated $836M increase.
- Norges Bank's biggest Q2 2018 reduction was Apple, cutting an estimated $230M.
- Norges Bank fully exited Time Warner Inc in Q2 2018, selling an estimated $657M.
- Norges Bank's ten largest holdings make up 16% of its $291B portfolio in Q2 2018.
- Norges Bank opened 75 new positions and closed 85 in Q2 2018.
- Norges Bank's portfolio value rose 5.4% quarter-over-quarter to $291B.
Based on Norges Bank's 13F filing for Q2 2018, filed 23 Jul 2018.