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 |
DuPont de Nemours
DD
|
+$764M |
| 2 |
Lear
LEA
|
+$169M |
| 3 |
Alibaba
BABA
|
+$169M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$168M |
| 5 |
Bank of America
BAC
|
+$156M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Du Pont De Nemours E I
DD
|
+$712M |
| 2 |
Blackrock
BLK
|
+$428M |
| 3 |
Ameriprise Financial
AMP
|
+$273M |
| 4 |
BHI
Baker Hughes
BHI
|
+$220M |
| 5 |
Chemours
CC
|
+$196M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.93% |
| 2 | Technology | 15.97% |
| 3 | Healthcare | 14% |
| 4 | Consumer Discretionary | 9.71% |
| 5 | Industrials | 9.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
176
Emerson Electric
EMR
$90.4B
| $302M | 0.11% |
4,810,802
| – | – |
2013 Q2
17 quarters
|
|
177
Franco-Nevada
FNV
$46.5B
| $302M | 0.11% |
3,909,349
+240,232
| +7% | +$18.5M |
2013 Q2
17 quarters
|
|
178
NXP Semiconductors
NXPI
$58.3B
| $301M | 0.11% |
2,657,544
+343,952
| +15% | +$38.4M |
2013 Q2
17 quarters
|
|
179
Las Vegas Sands
LVS
$24.8B
| $299M | 0.11% |
4,654,294
| – | – |
2013 Q2
17 quarters
|
|
180
Marriott International
MAR
$101B
| $296M | 0.11% |
2,684,304
| – | – |
2013 Q2
17 quarters
|
|
181
Chubb
CB
$136B
| $295M | 0.11% |
2,067,033
+75,555
| +4% | +$10.9M |
2013 Q2
17 quarters
|
|
182
PG&E
PCG
$38.9B
| $292M | 0.11% |
4,283,040
-175,100
| -4% | -$12M |
2013 Q2
17 quarters
|
|
183
Ford
F
$49.1B
| $291M | 0.11% |
24,327,619
+365,296
| +2% | +$4.12M |
2013 Q2
17 quarters
|
|
184
Prologis
PLD
$121B
| $288M | 0.11% |
4,541,728
| – | – |
2013 Q2
17 quarters
|
|
185
Trane Technologies
TT
$101B
| $286M | 0.11% |
3,210,910
+61,252
| +2% | +$5.42M |
2013 Q2
17 quarters
|
|
186
Rockwell Automation
ROK
$46.9B
| $285M | 0.11% |
1,601,648
-22,166
| -1% | -$3.69M |
2013 Q2
17 quarters
|
|
187
Truist Financial
TFC
$56.9B
| $285M | 0.11% |
6,065,585
+25,742
| +0.4% | +$1.18M |
2013 Q2
17 quarters
|
|
188
Zoetis
ZTS
$32.4B
| $284M | 0.11% |
4,458,540
-209,174
| -4% | -$13.1M |
2013 Q2
17 quarters
|
|
189
Public Storage
PSA
$55.2B
| $283M | 0.11% |
1,323,433
-22,242
| -2% | -$4.6M |
2013 Q2
17 quarters
|
|
190
Travelers Companies
TRV
$80.1B
| $282M | 0.11% |
2,303,857
-95,000
| -4% | -$11.9M |
2013 Q2
17 quarters
|
|
191
Intercontinental Exchange
ICE
$88.9B
| $279M | 0.11% |
4,058,302
| – | – |
2013 Q2
17 quarters
|
|
192
Exelon
EXC
$43.8B
| $277M | 0.11% |
10,304,027
| – | – |
2013 Q2
17 quarters
|
|
193
Lam Research
LRCX
$347B
| $277M | 0.1% |
14,946,060
+290,220
| +2% | +$4.71M |
2013 Q2
17 quarters
|
|
194
Weyerhaeuser
WY
$14B
| $274M | 0.1% |
8,045,839
+314,542
| +4% | +$10.3M |
2013 Q2
17 quarters
|
|
195
Hewlett Packard
HPE
$77.8B
| $273M | 0.1% |
18,551,562
-2,723,623
| -13% | -$37.2M |
2015 Q4
7 quarters
|
|
196
Constellation Brands
STZ
$21.9B
| $273M | 0.1% |
1,367,874
| – | – |
2013 Q2
17 quarters
|
|
|
AABA
197
DELISTED
Altaba Inc
AABA
| $273M | 0.1% |
4,115,810
-1,172,744
| -22% | -$71.9M |
2017 Q2
1 quarter
|
|
198
Edison International
EIX
$21.4B
| $273M | 0.1% |
3,532,650
-217,933
| -6% | -$17.2M |
2013 Q2
17 quarters
|
|
199
Sysco
SYY
$40.4B
| $270M | 0.1% |
5,001,985
+41,674
| +0.8% | +$2.17M |
2013 Q2
17 quarters
|
|
200
Axalta
AXTA
$7.22B
| $268M | 0.1% |
9,279,832
-383,834
| -4% | -$11.6M |
2015 Q2
9 quarters
|
|
Similar funds
Norges Bank's Q3 2017 Portfolio in Review
As of Q3 2017, Norges Bank held 2,207 positions worth $264B, up 4.6% from $252B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q3 2017 filing shows 81 new, 871 increased, 707 reduced and 82 closed positions. Its largest new stake was Alibaba: 1,042,351 shares worth $180M. The largest sale was Du Pont De Nemours E I, an estimated $712M.
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 Q3 2017 buy was Alibaba: 1,042,351 shares worth $180M.
- Norges Bank added most to DuPont de Nemours in Q3 2017, an estimated $764M increase.
- Norges Bank's biggest Q3 2017 reduction was Blackrock, cutting an estimated $428M.
- Norges Bank fully exited Du Pont De Nemours E I in Q3 2017, selling an estimated $712M.
- Norges Bank's ten largest holdings make up 15% of its $264B portfolio in Q3 2017.
- Norges Bank opened 81 new positions and closed 82 in Q3 2017.
- Norges Bank's portfolio value rose 4.6% quarter-over-quarter to $264B.
Based on Norges Bank's 13F filing for Q3 2017, filed 7 Nov 2017.