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 |
DD
Du Pont De Nemours E I
DD
|
+$334M |
| 2 |
AABA
Altaba Inc
AABA
|
+$288M |
| 3 |
Chubb
CB
|
+$238M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$235M |
| 5 |
Meta Platforms (Facebook)
META
|
+$229M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$1.25B |
| 2 |
Prudential Financial
PRU
|
+$897M |
| 3 |
YHOO
Yahoo Inc
YHOO
|
+$318M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$313M |
| 5 |
Aflac
AFL
|
+$312M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.76% |
| 2 | Technology | 15.09% |
| 3 | Healthcare | 13.88% |
| 4 | Consumer Discretionary | 9.67% |
| 5 | Industrials | 9.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PDS
1976
Precision Drilling
PDS
$946M
| $2.19M | ﹤0.01% |
32,073
-132,814
| -81% | -$10.3M |
|
|
ACHN
1977
DELISTED
Achillion Pharmaceuticals
ACHN
| $2.16M | ﹤0.01% |
470,292
-381,344
| -45% | -$1.53M |
|
|
KREF
1978
KKR Real Estate Finance Trust
KREF
$466M
| $2.15M | ﹤0.01% |
+100,000
| New | +$2.2M |
|
|
CHUBA
1979
DELISTED
CommerceHub, Inc. Series A Common Stock
CHUBA
| $2.13M | ﹤0.01% |
122,139
| – | – |
|
1980
Primoris Services
PRIM
$4.06B
| $2.1M | ﹤0.01% |
84,390
-27,801
| -25% | -$657K |
|
|
ITCI
1981
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $2.1M | ﹤0.01% |
169,070
-104,284
| -38% | -$1.21M |
|
1982
Geospace Technologies
GEOS
$84M
| $2.1M | ﹤0.01% |
151,614
-16,200
| -10% | -$249K |
|
1983
Red Robin
RRGB
$139M
| $2.08M | ﹤0.01% |
31,910
+17,021
| +114% | +$1.08M |
|
1984
Abercrombie & Fitch
ANF
$4.55B
| $2.04M | ﹤0.01% |
163,666
-541,885
| -77% | -$6.67M |
|
1985
Quaker Houghton
KWR
$2.58B
| $2.02M | ﹤0.01% |
13,873
+4,404
| +47% | +$623K |
|
|
TGI
1986
DELISTED
Triumph Group
TGI
| $2.01M | ﹤0.01% |
63,524
-154,432
| -71% | -$4.3M |
|
1987
Werner Enterprises
WERN
$2.2B
| $2.01M | ﹤0.01% |
68,394
-58,455
| -46% | -$1.59M |
|
|
NTT
1988
DELISTED
Nippon Telegraph & Telephone
NTT
| $2M | ﹤0.01% |
42,471
| – | – |
|
|
SODA
1989
DELISTED
SodaStream International Ltd
SODA
| $1.97M | ﹤0.01% |
36,853
+336
| +0.9% | +$17.8K |
|
1990
Upbound Group
UPBD
$1.22B
| $1.97M | ﹤0.01% |
168,003
-1,133,821
| -87% | -$12.8M |
|
1991
Cerus
CERS
$575M
| $1.97M | ﹤0.01% |
783,135
| – | – |
|
|
ALDR
1992
DELISTED
Alder Biopharmaceuticals
ALDR
| $1.95M | ﹤0.01% |
170,179
-42,034
| -20% | -$777K |
|
1993
Central Garden & Pet Co
CENT
$2.76B
| $1.92M | ﹤0.01% |
+75,334
| New | +$2.04M |
|
1994
Unisys
UIS
$252M
| $1.91M | ﹤0.01% |
148,914
-253,951
| -63% | -$3.09M |
|
1995
Barings BDC
BBDC
$869M
| $1.81M | ﹤0.01% |
102,523
+2,523
| +3% | +$45.9K |
|
1996
Surgery Partners
SGRY
$2.15B
| $1.8M | ﹤0.01% |
79,304
+32,684
| +70% | +$672K |
|
|
DBVT
1997
DBV Technologies
DBVT
$813M
| $1.79M | ﹤0.01% |
5,000
| – | – |
|
1998
New Mountain Finance
NMFC
$654M
| $1.75M | ﹤0.01% |
120,091
| – | – |
|
1999
Lennar Class B
LEN.B
$19.9B
| $1.73M | ﹤0.01% |
41,199
| – | – |
|
2000
California Water Service
CWT
$3.1B
| $1.73M | ﹤0.01% |
46,867
-61,572
| -57% | -$2.2M |
|
Similar funds
Norges Bank's Q2 2017 Portfolio in Review
As of Q2 2017, Norges Bank held 2,216 positions worth $252B, up 3.4% from $244B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q2 2017 filing shows 77 new, 1,043 increased, 752 reduced and 90 closed positions. Its largest new stake was Altaba Inc: 5,288,554 shares worth $288M. The largest sale was Blackrock, an estimated $1.25B.
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 Q2 2017 buy was Altaba Inc: 5,288,554 shares worth $288M.
- Norges Bank added most to Du Pont De Nemours E I in Q2 2017, an estimated $334M increase.
- Norges Bank's biggest Q2 2017 reduction was Blackrock, cutting an estimated $1.25B.
- Norges Bank fully exited Yahoo Inc in Q2 2017, selling an estimated $318M.
- Norges Bank's ten largest holdings make up 15% of its $252B portfolio in Q2 2017.
- Norges Bank opened 77 new positions and closed 90 in Q2 2017.
- Norges Bank's portfolio value rose 3.4% quarter-over-quarter to $252B.
Based on Norges Bank's 13F filing for Q2 2017, filed 2 Aug 2017.