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 |
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 | 18.93% |
| 2 | Technology | 15.97% |
| 3 | Healthcare | 14% |
| 4 | Consumer Discretionary | 9.71% |
| 5 | Industrials | 9.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
2026
TIM SA
TIMB
$8.87B
| $1.22M | ﹤0.01% |
66,720
| – | – |
2013 Q2
17 quarters
|
|
2027
DELISTED
Bitauto Holdings Limited
BITA
| $1.21M | ﹤0.01% |
+27,027
| New | +$976K |
2017 Q3
0 quarters
|
|
|
IPHI
2028
DELISTED
INPHI CORPORATION
IPHI
| $1.21M | ﹤0.01% |
30,414
| – | – |
2016 Q3
4 quarters
|
|
2029
DELISTED
NCS Multistage Holdings
NCSM
| $1.2M | ﹤0.01% |
2,500
| – | – |
2017 Q2
1 quarter
|
|
|
ASNA
2030
DELISTED
Ascena Retail Group, Inc.
ASNA
| $1.2M | ﹤0.01% |
24,395
-213,522
| -90% | -$9.27M |
2013 Q2
17 quarters
|
|
|
SFUN
2031
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
| $1.19M | ﹤0.01% |
+5,882
| New | +$1.04M |
2017 Q3
0 quarters
|
|
|
AFI
2032
DELISTED
Armstrong Flooring, Inc.
AFI
| $1.19M | ﹤0.01% |
75,492
| – | – |
2016 Q2
5 quarters
|
|
2033
Matador Resources
MTDR
$7.12B
| $1.17M | ﹤0.01% |
43,040
| – | – |
2014 Q2
13 quarters
|
|
|
CRZO
2034
DELISTED
Carrizo Oil & Gas Inc
CRZO
| $1.17M | ﹤0.01% |
68,167
-57,749
| -46% | -$844K |
2013 Q2
17 quarters
|
|
2035
DELISTED
Emerald Holding
EEX
| $1.16M | ﹤0.01% |
50,000
| – | – |
2017 Q2
1 quarter
|
|
|
CORE
2036
DELISTED
Core Mark Holding Co., Inc.
CORE
| $1.16M | ﹤0.01% |
36,113
| – | – |
2015 Q4
7 quarters
|
|
|
UBNK
2037
DELISTED
United Financial Bancorp, Inc.
UBNK
| $1.16M | ﹤0.01% |
63,309
| – | – |
2014 Q4
11 quarters
|
|
2038
3D Systems Corp
DDD
$459M
| $1.16M | ﹤0.01% |
86,352
-302,362
| -78% | -$4.43M |
2013 Q2
17 quarters
|
|
2039
Patrick Industries
PATK
$2.19B
| $1.15M | ﹤0.01% |
+30,843
| New | +$1.02M |
2017 Q3
0 quarters
|
|
2040
DELISTED
Cadence Bancorporation
CADE
| $1.15M | ﹤0.01% |
50,000
| – | – |
2017 Q2
1 quarter
|
|
2041
NMI Holdings
NMIH
$3.06B
| $1.14M | ﹤0.01% |
92,165
+34,865
| +61% | +$404K |
2017 Q2
1 quarter
|
|
2042
DELISTED
Haynes International, Inc.
HAYN
| $1.14M | ﹤0.01% |
31,605
-58,873
| -65% | -$1.9M |
2013 Q2
17 quarters
|
|
|
NAV
2043
DELISTED
Navistar International
NAV
| $1.13M | ﹤0.01% |
25,741
-187,557
| -88% | -$6.22M |
2017 Q1
2 quarters
|
|
2044
Moelis & Co
MC
$4.04B
| $1.13M | ﹤0.01% |
26,246
| – | – |
2017 Q2
1 quarter
|
|
2045
Ameresco
AMRC
$1.03B
| $1.12M | ﹤0.01% |
144,001
-141,502
| -50% | -$1M |
2017 Q1
2 quarters
|
|
2046
Westamerica Bancorp
WABC
$1.42B
| $1.12M | ﹤0.01% |
18,816
| – | – |
2013 Q2
17 quarters
|
|
2047
Hercules Capital
HTGC
$3.06B
| $1.1M | ﹤0.01% |
85,549
+2,004
| +2% | +$25.7K |
2017 Q1
2 quarters
|
|
2048
Cibus
CBUS
$101M
| $1.1M | ﹤0.01% |
+900
| New | +$765K |
2017 Q3
0 quarters
|
|
2049
J. Jill
JILL
$365M
| $1.09M | ﹤0.01% |
23,820
| – | – |
2017 Q1
2 quarters
|
|
2050
DELISTED
National Western Life Group, Inc. Class A
NWLI
| $1.08M | ﹤0.01% |
3,083
+2,683
| +671% | +$901K |
2017 Q2
1 quarter
|
|
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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.