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 |
DD
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 | 18.77% |
| 2 | Technology | 15.62% |
| 3 | Healthcare | 13.61% |
| 4 | Consumer Discretionary | 9.6% |
| 5 | Industrials | 9.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FCB
2001
DELISTED
FCB Financial Holdings, Inc.
FCB
| $1.56M | ﹤0.01% |
32,323
-103,019
| -76% | -$4.7M |
|
|
ZOES
2002
DELISTED
Zoe's Kitchen, Inc.
ZOES
| $1.55M | ﹤0.01% |
122,498
| – | – |
|
2003
Barings BDC
BBDC
$965M
| $1.51M | ﹤0.01% |
106,048
+3,525
| +3% | +$53.1K |
|
2004
Ambarella
AMBA
$3.81B
| $1.51M | ﹤0.01% |
30,795
-61,012
| -66% | -$3.01M |
|
|
CBB
2005
DELISTED
Cincinnati Bell Inc.
CBB
| $1.5M | ﹤0.01% |
75,696
-116,349
| -61% | -$2.29M |
|
2006
ePlus
PLUS
$2.34B
| $1.47M | ﹤0.01% |
31,732
| – | – |
|
|
WIN
2007
DELISTED
Windstream Holdings Inc
WIN
| $1.45M | ﹤0.01% |
163,973
-337,749
| -67% | -$4.48M |
|
2008
Buckle
BKE
$2.37B
| $1.44M | ﹤0.01% |
85,617
-390,307
| -82% | -$6.2M |
|
|
DCPH
2009
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
| $1.42M | ﹤0.01% |
+75,000
| New | +$1.37M |
|
|
PSDO
2010
DELISTED
Presidio, Inc. Common Stock
PSDO
| $1.42M | ﹤0.01% |
100,000
-100,000
| -50% | -$1.38M |
|
|
CCC
2011
DELISTED
Calgon Carbon Corp
CCC
| $1.4M | ﹤0.01% |
65,574
-251,016
| -79% | -$3.79M |
|
2012
Boston Beer
SAM
$1.92B
| $1.38M | ﹤0.01% |
8,860
-219,887
| -96% | -$32.1M |
|
2013
Onto Innovation
ONTO
$15.3B
| $1.38M | ﹤0.01% |
47,778
+26,604
| +126% | +$700K |
|
|
PEI
2014
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
| $1.36M | ﹤0.01% |
8,677
-38,415
| -82% | -$6.32M |
|
2015
Hamilton Lane
HLNE
$5.57B
| $1.34M | ﹤0.01% |
50,000
-50,000
| -50% | -$1.15M |
|
2016
National Bank Holdings
NBHC
$1.9B
| $1.33M | ﹤0.01% |
37,291
| – | – |
|
2017
Boot Barn
BOOT
$4.95B
| $1.32M | ﹤0.01% |
148,319
| – | – |
|
|
ATNX
2018
DELISTED
Athenex, Inc. Common Stock
ATNX
| $1.31M | ﹤0.01% |
3,750
| – | – |
|
2019
Independence Realty Trust
IRT
$4.07B
| $1.27M | ﹤0.01% |
+125,000
| New | +$1.26M |
|
2020
Unisys
UIS
$217M
| $1.27M | ﹤0.01% |
148,914
| – | – |
|
2021
National Healthcare
NHC
$3.38B
| $1.26M | ﹤0.01% |
20,134
-17,722
| -47% | -$1.14M |
|
|
BOJA
2022
DELISTED
Bojangles', Inc. Common Stock
BOJA
| $1.26M | ﹤0.01% |
93,092
| – | – |
|
|
GNBC
2023
DELISTED
Green Bancorp, Inc
GNBC
| $1.25M | ﹤0.01% |
52,910
+37,680
| +247% | +$803K |
|
2024
Fabrinet
FN
$20.1B
| $1.24M | ﹤0.01% |
33,467
| – | – |
|
2025
Gilat Satellite Networks
GILT
$848M
| $1.24M | ﹤0.01% |
210,642
| – | – |
|
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.