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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
BEST
2001
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
$1.93M ﹤0.01%
+9,372
New +$1.79M
CARG icon
2002
CarGurus
CARG
$3.25B
$1.92M ﹤0.01%
50,000
– –
CADE
2003
DELISTED
Cadence Bancorporation
CADE
$1.9M ﹤0.01%
69,800
+50,000
+253% +$1.39M
FOR icon
2004
Forestar Group
FOR
$1.47B
$1.9M ﹤0.01%
89,692
– –
DXPE icon
2005
DXP Enterprises
DXPE
$2.4B
$1.87M ﹤0.01%
48,125
-22,597
-32% -$741K
TDOC icon
2006
Teladoc Health
TDOC
$1.19B
$1.86M ﹤0.01%
46,129
– –
VCTR icon
2007
Victory Capital Holdings
VCTR
$6.16B
$1.84M ﹤0.01%
+150,000
New +$1.89M
VECO icon
2008
Veeco
VECO
$2.95B
$1.81M ﹤0.01%
106,316
+87,131
+454% +$1.52M
GIII icon
2009
G-III Apparel Group
GIII
$1.55B
$1.8M ﹤0.01%
+47,774
New +$1.77M
MTW icon
2010
Manitowoc
MTW
$497M
$1.78M ﹤0.01%
+62,419
New +$2.14M
CBM
2011
DELISTED
Cambrex Corporation
CBM
$1.75M ﹤0.01%
33,444
-10,357
-24% -$554K
ROKU icon
2012
Roku
ROKU
$21.5B
$1.74M ﹤0.01%
55,803
– –
FNGN
2013
DELISTED
Financial Engines, Inc.
FNGN
$1.72M ﹤0.01%
49,251
-2,539
-5% -$79.7K
PVG
2014
DELISTED
PRETIUM RESOURCES INC.
PVG
$1.71M ﹤0.01%
+257,797
New +$2.03M
KEM
2015
DELISTED
KEMET Corporation
KEM
$1.69M ﹤0.01%
92,934
– –
BOOM icon
2016
DMC Global
BOOM
$128M
$1.68M ﹤0.01%
62,775
– –
APLS
2017
DELISTED
Apellis Pharmaceuticals
APLS
$1.66M ﹤0.01%
75,000
– –
BRSS
2018
DELISTED
Global Brass & Copper Hldgs, Inc
BRSS
$1.66M ﹤0.01%
49,557
– –
SEI
2019
Solaris Energy Infrastructure
SEI
$3.14B
$1.66M ﹤0.01%
100,000
– –
SFL icon
2020
SFL Corp
SFL
$1.64B
$1.63M ﹤0.01%
114,243
– –
KAI icon
2021
Kadant
KAI
$3.63B
$1.63M ﹤0.01%
17,201
– –
FSCT
2022
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
$1.62M ﹤0.01%
50,000
– –
BBDC icon
2023
Barings BDC
BBDC
$865M
$1.61M ﹤0.01%
144,466
– –
KEN icon
2024
Kenon Holdings
KEN
$3.47B
$1.59M ﹤0.01%
98,627
– –
NMFC icon
2025
New Mountain Finance
NMFC
$653M
$1.58M ﹤0.01%
120,091
– –
79 80
81
82 83

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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.