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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
-0.21%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$276B
AUM Growth
-$2.63B
Cap. Flow
+$1.58B
Cap. Flow %
0.57%
Top 10 Hldgs %
15.92%
Holding
2,204
New
89
Increased
744
Reduced
809
Closed
60

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$795M
2
VNO icon
Vornado Realty Trust
VNO
+$326M
3
EQR icon
Equity Residential
EQR
+$286M
4
AMZN icon
Amazon
AMZN
+$222M
5
BIDU icon
Baidu
BIDU
+$151M

Top Sells

Rank Stock Value
1
UBS icon
UBS Group
UBS
+$276M
2
APTV icon
Aptiv
APTV
+$268M
3
FTI icon
TechnipFMC
FTI
+$243M
4
AAPL icon
Apple
AAPL
+$215M
5
AA icon
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
GNC
1976
DELISTED
GNC Holdings, Inc.
GNC
$2.65M ﹤0.01%
686,234
– –
SEDG icon
1977
SolarEdge
SEDG
$2.37B
$2.64M ﹤0.01%
+50,158
New +$2.2M
ELGX
1978
DELISTED
Endologix Inc
ELGX
$2.64M ﹤0.01%
62,338
– –
IFRX icon
1979
InflaRx
IFRX
$243M
$2.6M ﹤0.01%
90,000
– –
CRAY
1980
DELISTED
Cray, Inc.
CRAY
$2.59M ﹤0.01%
125,251
-33,093
-21% -$767K
CENT icon
1981
Central Garden & Pet Co
CENT
$2.76B
$2.59M ﹤0.01%
75,334
– –
AMBA icon
1982
Ambarella
AMBA
$3.04B
$2.49M ﹤0.01%
50,765
+41,129
+427% +$2.13M
AG icon
1983
First Majestic Silver
AG
$7.52B
$2.45M ﹤0.01%
399,611
– –
PARAA
1984
DELISTED
Paramount Global Class A
PARAA
$2.37M ﹤0.01%
45,798
– –
DAKT icon
1985
Daktronics
DAKT
$946M
$2.31M ﹤0.01%
261,942
– –
LXRX icon
1986
Lexicon Pharmaceuticals
LXRX
$1.03B
$2.28M ﹤0.01%
266,463
– –
KNSL icon
1987
Kinsale Capital Group
KNSL
$8.58B
$2.25M ﹤0.01%
43,804
– –
WOW
1988
DELISTED
WideOpenWest
WOW
$2.25M ﹤0.01%
314,285
– –
AVYA
1989
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
$2.24M ﹤0.01%
+100,000
New +$2.14M
WRD
1990
DELISTED
WildHorse Resource Development
WRD
$2.21M ﹤0.01%
+115,863
New +$2.07M
TFSL icon
1991
TFS Financial
TFSL
$5.11B
$2.17M ﹤0.01%
147,499
– –
SAFE
1992
DELISTED
Safehold Inc.
SAFE
$2.16M ﹤0.01%
134,900
-65,100
-33% -$1.11M
ICPT
1993
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
$2.11M ﹤0.01%
34,265
+18,200
+113% +$1.1M
FMX icon
1994
Fomento Económico Mexicano
FMX
$41.2B
$2.09M ﹤0.01%
22,824
-682,051
-97% -$63.9M
DMRC icon
1995
Digimarc Corp
DMRC
$143M
$2.08M ﹤0.01%
87,071
– –
SREV
1996
DELISTED
ServiceSource International, Inc.
SREV
$2.02M ﹤0.01%
531,137
– –
KREF
1997
KKR Real Estate Finance Trust
KREF
$466M
$2.01M ﹤0.01%
100,000
– –
AKBA icon
1998
Akebia Therapeutics
AKBA
$338M
$1.97M ﹤0.01%
207,173
-249,400
-55% -$3.49M
UPL
1999
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$1.95M ﹤0.01%
+467,900
New +$2.74M
GILT icon
2000
Gilat Satellite Networks
GILT
$789M
$1.94M ﹤0.01%
227,492
– –
78 79
80
81 82

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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.