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
|
+$486M |
| 2 |
Boston Properties
BXP
|
+$368M |
| 3 |
Verizon
VZ
|
+$301M |
| 4 |
Vornado Realty Trust
VNO
|
+$283M |
| 5 |
Baidu
BIDU
|
+$185M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$579M |
| 2 |
Ameriprise Financial
AMP
|
+$297M |
| 3 |
Nucor
NUE
|
+$290M |
| 4 |
Charter Communications
CHTR
|
+$216M |
| 5 |
Aflac
AFL
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.04% |
| 2 | Technology | 16.4% |
| 3 | Healthcare | 13.21% |
| 4 | Consumer Discretionary | 10.32% |
| 5 | Communication Services | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
176
Zoetis
ZTS
$32.6B
| $321M | 0.12% |
4,458,540
| – | – |
2013 Q2
18 quarters
|
|
177
Emerson Electric
EMR
$89.4B
| $320M | 0.11% |
4,593,038
-217,764
| -5% | -$14.1M |
2013 Q2
18 quarters
|
|
178
DaVita
DVA
$11.9B
| $317M | 0.11% |
4,388,919
+2,257,219
| +106% | +$139M |
2013 Q2
18 quarters
|
|
179
Dominion Energy
D
$56B
| $314M | 0.11% |
3,875,643
-342,295
| -8% | -$27.7M |
2013 Q2
18 quarters
|
|
180
PACCAR
PCAR
$58.3B
| $312M | 0.11% |
6,594,165
+2,619,610
| +66% | +$124M |
2013 Q2
18 quarters
|
|
181
Aon
AON
$61.7B
| $312M | 0.11% |
2,329,399
+60,518
| +3% | +$8.61M |
2013 Q2
18 quarters
|
|
182
NXP Semiconductors
NXPI
$58.4B
| $312M | 0.11% |
2,664,141
+6,597
| +0.2% | +$762K |
2013 Q2
18 quarters
|
|
183
Intercontinental Exchange
ICE
$89.9B
| $310M | 0.11% |
4,390,957
+332,655
| +8% | +$22.8M |
2013 Q2
18 quarters
|
|
|
AABA
184
DELISTED
Altaba Inc
AABA
| $308M | 0.11% |
4,403,952
+288,142
| +7% | +$20.1M |
2017 Q2
2 quarters
|
|
185
Ford
F
$49.7B
| $306M | 0.11% |
24,492,092
+164,473
| +0.7% | +$2.03M |
2013 Q2
18 quarters
|
|
186
MetLife
MET
$64.3B
| $304M | 0.11% |
6,012,438
-291,783
| -5% | -$15.4M |
2013 Q2
18 quarters
|
|
187
Sysco
SYY
$40.2B
| $304M | 0.11% |
5,001,985
| – | – |
2013 Q2
18 quarters
|
|
188
Southern Company
SO
$104B
| $303M | 0.11% |
6,300,653
-1,123,991
| -15% | -$57.3M |
2013 Q2
18 quarters
|
|
189
Ross Stores
ROST
$75.5B
| $302M | 0.11% |
3,760,945
| – | – |
2013 Q2
18 quarters
|
|
190
Constellation Brands
STZ
$22.2B
| $300M | 0.11% |
1,314,507
-53,367
| -4% | -$11.5M |
2013 Q2
18 quarters
|
|
191
McKesson
MCK
$117B
| $300M | 0.11% |
1,925,087
-147,488
| -7% | -$21.8M |
2013 Q2
18 quarters
|
|
192
Regeneron Pharmaceuticals
REGN
$81.5B
| $299M | 0.11% |
795,468
+38,756
| +5% | +$15.7M |
2013 Q2
18 quarters
|
|
193
Lam Research
LRCX
$332B
| $297M | 0.11% |
16,158,660
+1,212,600
| +8% | +$23.8M |
2013 Q2
18 quarters
|
|
194
Prologis
PLD
$119B
| $293M | 0.11% |
4,541,728
| – | – |
2013 Q2
18 quarters
|
|
195
CNH Industrial
CNH
$18.7B
| $290M | 0.1% |
24,850,671
+12,872,950
| +107% | +$142M |
2013 Q4
16 quarters
|
|
196
Las Vegas Sands
LVS
$24.8B
| $289M | 0.1% |
4,152,533
-501,761
| -11% | -$33.5M |
2013 Q2
18 quarters
|
|
197
Public Storage
PSA
$55.5B
| $287M | 0.1% |
1,372,820
+49,387
| +4% | +$10.4M |
2013 Q2
18 quarters
|
|
198
Rockwell Automation
ROK
$47.2B
| $286M | 0.1% |
1,457,630
-144,018
| -9% | -$27.5M |
2013 Q2
18 quarters
|
|
199
Synchrony
SYF
$24.1B
| $285M | 0.1% |
7,369,079
| – | – |
2014 Q3
13 quarters
|
|
200
HCA Healthcare
HCA
$98.9B
| $284M | 0.1% |
3,231,956
| – | – |
2013 Q2
18 quarters
|
|
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Norges Bank's Q4 2017 Portfolio in Review
As of Q4 2017, Norges Bank held 2,177 positions worth $279B, up 5.9% from $264B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Norges Bank's Q4 2017 filing shows 52 new, 713 increased, 679 reduced and 62 closed positions. Its largest new stake was Delphi Technologies PLC Ordinary Shares: 1,452,122 shares worth $76.2M. The largest sale was Blackrock, an estimated $579M.
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 Q4 2017 buy was Delphi Technologies PLC Ordinary Shares: 1,452,122 shares worth $76.2M.
- Norges Bank added most to Alibaba in Q4 2017, an estimated $486M increase.
- Norges Bank's biggest Q4 2017 reduction was Blackrock, cutting an estimated $579M.
- Norges Bank fully exited CR Bard Inc. in Q4 2017, selling an estimated $201M.
- Norges Bank's ten largest holdings make up 16% of its $279B portfolio in Q4 2017.
- Norges Bank opened 52 new positions and closed 62 in Q4 2017.
- Norges Bank's portfolio value rose 5.9% quarter-over-quarter to $279B.
Based on Norges Bank's 13F filing for Q4 2017, filed 9 Feb 2018.