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 | |
|---|---|---|---|---|---|---|
|
AXON
1726
Axon Enterprise
AXON
$42.3B
| $10.5M | ﹤0.01% |
268,048
+141,081
| +111% | +$4.4M |
|
1727
AstraZeneca
AZN
$266B
| $10.5M | ﹤0.01% |
150,386
| – | – |
|
|
JE
1728
DELISTED
Just Energy Group Inc
JE
| $10.5M | ﹤0.01% |
72,193
-34,751
| -32% | -$5.17M |
|
1729
Gibraltar Industries
ROCK
$1.27B
| $10.5M | ﹤0.01% |
310,267
+15,750
| +5% | +$547K |
|
1730
RPC Inc
RES
$1.2B
| $10.5M | ﹤0.01% |
581,145
+515,122
| +780% | +$10.8M |
|
1731
MiMedx Group
MDXG
$636M
| $10.5M | ﹤0.01% |
1,500,889
+291,706
| +24% | +$3.4M |
|
1732
ESCO Technologies
ESE
$8.07B
| $10.5M | ﹤0.01% |
178,629
+16,116
| +10% | +$990K |
|
|
HT
1733
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
| $10.5M | ﹤0.01% |
584,103
| – | – |
|
|
ACH
1734
Accendra Health
ACH
$256M
| $10.4M | ﹤0.01% |
671,518
+110,051
| +20% | +$1.96M |
|
|
SEMG
1735
DELISTED
SEMGROUP CORPORATION
SEMG
| $10.4M | ﹤0.01% |
487,457
+278,650
| +133% | +$7.17M |
|
|
TWOU
1736
DELISTED
2U Inc
TWOU
| $10.4M | ﹤0.01% |
4,130
+1,185
| +40% | +$2.74M |
|
1737
8x8 Inc
EGHT
$262M
| $10.3M | ﹤0.01% |
550,172
| – | – |
|
|
MNK
1738
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $10.2M | ﹤0.01% |
706,709
-1,133,611
| -62% | -$20.5M |
|
|
CEL
1739
DELISTED
Cellcom Israel, Ltd.
CEL
| $10.2M | ﹤0.01% |
1,442,397
-489,008
| -25% | -$4.23M |
|
1740
Nabors Industries
NBR
$1.22B
| $10.2M | ﹤0.01% |
29,078
-9,320
| -24% | -$3.39M |
|
1741
KBR
KBR
$4.36B
| $10.1M | ﹤0.01% |
625,840
-138,082
| -18% | -$2.51M |
|
1742
Tenaris
TS
$28.6B
| $10.1M | ﹤0.01% |
290,093
| – | – |
|
1743
Weis Markets
WMK
$1.92B
| $10M | ﹤0.01% |
245,001
+40,912
| +20% | +$1.61M |
|
1744
National Presto Industries
NPK
$871M
| $9.98M | ﹤0.01% |
106,411
-200
| -0.2% | -$19.9K |
|
|
HTZ
1745
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $9.9M | ﹤0.01% |
574,259
| – | – |
|
1746
Aaon
AAON
$7.17B
| $9.9M | ﹤0.01% |
380,811
+175,182
| +85% | +$4.25M |
|
|
AAV
1747
DELISTED
Advantage Oil & Gas Ltd
AAV
| $9.9M | ﹤0.01% |
3,348,959
-954,154
| -22% | -$3.09M |
|
|
NSM
1748
DELISTED
Nationstar Mortgage Holdings
NSM
| $9.89M | ﹤0.01% |
550,510
| – | – |
|
|
ECOL
1749
DELISTED
US Ecology, Inc.
ECOL
| $9.81M | ﹤0.01% |
184,051
+100
| +0.1% | +$5.28K |
|
|
CSII
1750
DELISTED
Cardiovascular Systems, Inc.
CSII
| $9.75M | ﹤0.01% |
444,445
-127,175
| -22% | -$3.06M |
|
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.