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 | |
|---|---|---|---|---|---|---|---|
2101
DELISTED
Infinera Corporation Common Stock
INFN
| $466K | ﹤0.01% |
52,575
| – | – |
2013 Q2
17 quarters
|
|
|
DOVA
2102
DELISTED
Dova Pharmaceuticals, Inc. Common Stock
DOVA
| $425K | ﹤0.01% |
17,500
| – | – |
2017 Q2
1 quarter
|
|
2103
HEICO Corp Class A
HEI.A
$32.6B
| $419K | ﹤0.01% |
10,748
| – | – |
2013 Q2
17 quarters
|
|
2104
Veeco
VECO
$2.61B
| $411K | ﹤0.01% |
19,185
| – | – |
2017 Q2
1 quarter
|
|
|
AYX
2105
DELISTED
Alteryx Inc
AYX
| $407K | ﹤0.01% |
20,000
| – | – |
2017 Q1
2 quarters
|
|
|
GSS
2106
DELISTED
Golden Star Resources Ltd.
GSS
| $371K | ﹤0.01% |
96,661
-140,197
| -59% | -$494K |
2013 Q2
17 quarters
|
|
2107
Okta
OKTA
$32.7B
| $353K | ﹤0.01% |
12,500
| – | – |
2017 Q2
1 quarter
|
|
2108
DELISTED
Mersana Therapeutics
MRSN
| $346K | ﹤0.01% |
800
| – | – |
2017 Q2
1 quarter
|
|
2109
Heron Therapeutics
HRTX
$68.5M
| $323K | ﹤0.01% |
20,000
| – | – |
2017 Q1
2 quarters
|
|
|
PFNX
2110
DELISTED
Pfenex Inc.
PFNX
| $320K | ﹤0.01% |
105,910
| – | – |
2015 Q3
8 quarters
|
|
2111
Independent Bank Corp
IBCP
$790M
| $314K | ﹤0.01% |
13,842
| – | – |
2014 Q3
12 quarters
|
|
2112
Kamada
KMDA
$448M
| $312K | ﹤0.01% |
64,762
| – | – |
2013 Q2
17 quarters
|
|
|
NVLN
2113
DELISTED
Novelion Therapeutics Inc. Common Shares
NVLN
| $279K | ﹤0.01% |
39,700
| – | – |
2016 Q4
3 quarters
|
|
2114
Appian
APPN
$2.95B
| $228K | ﹤0.01% |
8,000
| – | – |
2017 Q2
1 quarter
|
|
2115
DELISTED
T2 Biosystems, Inc
TTOO
| $210K | ﹤0.01% |
+10
| New | +$186K |
2017 Q3
0 quarters
|
|
2116
Zymeworks
ZYME
$1.8B
| $200K | ﹤0.01% |
25,000
| – | – |
2017 Q2
1 quarter
|
|
2117
Happen Inc
HAPN
$1.67B
| $120K | ﹤0.01% |
3,939
+3,751
| +1,995% | +$108K |
2017 Q2
1 quarter
|
|
2118
WisdomTree
WT
$3.24B
| $71K | ﹤0.01% |
6,981
| – | – |
2017 Q1
2 quarters
|
|
2119
UroGen Pharma
URGN
$1.69B
| $42K | ﹤0.01% |
1,334
-28,566
| -96% | -$631K |
2017 Q2
1 quarter
|
|
2120
Constellium
CSTM
$3.45B
| $38K | ﹤0.01% |
3,719
| – | – |
2014 Q2
13 quarters
|
|
2121
Nordic American Tanker
NAT
$1.62B
| $30K | ﹤0.01% |
5,691
-458,833
| -99% | -$2.52M |
2013 Q2
17 quarters
|
|
2122
DELISTED
Spirit Airlines, Inc.
SAVE
| $30K | ﹤0.01% |
905
-93,000
| -99% | -$3.72M |
2014 Q2
13 quarters
|
|
|
PSV
2123
DELISTED
Hermitage Offshore Services Ltd.
PSV
| $27K | ﹤0.01% |
+1,889
| New | +$24.2K |
2017 Q3
0 quarters
|
|
2124
Antero Midstream
AM
$9.8B
| – | – |
-1,000,000
| Closed | -$22M | – |
|
2125
Octave Specialty Group
OSG
$210M
| – | – |
-143,915
| Closed | -$2.5M | – |
|
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.