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 |
Alibaba
BABA
|
+$486M |
| 2 |
Boston Properties
BXP
|
+$368M |
| 3 |
Verizon
VZ
|
+$301M |
| 4 |
Vornado Realty Trust
VNO
|
+$283M |
| 5 |
Baidu
BIDU
|
+$185M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$579M |
| 2 |
Ameriprise Financial
AMP
|
+$297M |
| 3 |
Nucor
NUE
|
+$290M |
| 4 |
Charter Communications
CHTR
|
+$216M |
| 5 |
Aflac
AFL
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.89% |
| 2 | Technology | 16.06% |
| 3 | Healthcare | 12.94% |
| 4 | Consumer Discretionary | 10.19% |
| 5 | Industrials | 9.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2101
Veeco
VECO
$3.05B
| $285K | ﹤0.01% |
19,185
| – | – |
|
|
PFNX
2102
DELISTED
Pfenex Inc.
PFNX
| $282K | ﹤0.01% |
105,910
| – | – |
|
|
NETS
2103
DELISTED
Netshoes (Cayman) Limited
NETS
| $268K | ﹤0.01% |
33,882
-16,118
| -32% | -$147K |
|
2104
Appian
APPN
$1.98B
| $252K | ﹤0.01% |
8,000
| – | – |
|
2105
TIM SA
TIMB
$9.16B
| $245K | ﹤0.01% |
12,696
-54,024
| -81% | -$1M |
|
2106
Cibus
CBUS
$147M
| $190K | ﹤0.01% |
173
-727
| -81% | -$823K |
|
2107
Zymeworks
ZYME
$1.61B
| $190K | ﹤0.01% |
25,000
| – | – |
|
2108
Kamada
KMDA
$412M
| $171K | ﹤0.01% |
36,453
-28,309
| -44% | -$133K |
|
|
NVLN
2109
DELISTED
Novelion Therapeutics Inc. Common Shares
NVLN
| $124K | ﹤0.01% |
39,700
| – | – |
|
|
SCPH
2110
DELISTED
scPharmaceuticals
SCPH
| $109K | ﹤0.01% |
+9,000
| New | +$127K |
|
2111
National Bank Holdings
NBHC
$1.92B
| $105K | ﹤0.01% |
3,251
-34,040
| -91% | -$1.13M |
|
2112
WisdomTree
WT
$2.96B
| $88K | ﹤0.01% |
6,981
| – | – |
|
2113
UroGen Pharma
URGN
$1.86B
| $50K | ﹤0.01% |
1,334
| – | – |
|
2114
Vale
VALE
$64.1B
| $39K | ﹤0.01% |
3,220
-165,000
| -98% | -$1.75M |
|
2115
Nordic American Tanker
NAT
$1.38B
| $14K | ﹤0.01% |
5,691
| – | – |
|
2116
Aecom
ACM
$9.3B
| – | – |
-1,260,226
| Closed | -$46.4M |
|
2117
Ameresco
AMRC
$1.12B
| – | – |
-144,001
| Closed | -$1.12M |
|
2118
Astronics
ATRO
$3.43B
| – | – |
-45,559
| Closed | -$982K |
|
|
AZUL
2119
DELISTED
Azul
AZUL
| – | – |
-250,000
| Closed | -$6.86M |
|
2120
Box
BOX
$4.37B
| – | – |
-750,000
| Closed | -$14.5M |
|
2121
Clear Channel Outdoor Holdings
CCO
$1.23B
| – | – |
-115,460
| Closed | -$537K |
|
|
EEX
2122
DELISTED
Emerald Holding
EEX
| – | – |
-50,000
| Closed | -$1.16M |
|
2123
Fluor
FLR
$7.01B
| – | – |
-1,156,618
| Closed | -$48.7M |
|
2124
Huntington Ingalls Industries
HII
$12.9B
| – | – |
-434,730
| Closed | -$98.4M |
|
2125
Hamilton Lane
HLNE
$4.91B
| – | – |
-50,000
| Closed | -$1.34M |
|
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Norges Bank's Q4 2017 Portfolio in Review
As of Q4 2017, Norges Bank held 2,177 positions worth $279B, up 5.9% from $264B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Norges Bank's Q4 2017 filing shows 52 new, 713 increased, 679 reduced and 62 closed positions. Its largest new stake was Delphi Technologies PLC Ordinary Shares: 1,452,122 shares worth $76.2M. The largest sale was Blackrock, an estimated $579M.
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 Q4 2017 buy was Delphi Technologies PLC Ordinary Shares: 1,452,122 shares worth $76.2M.
- Norges Bank added most to Alibaba in Q4 2017, an estimated $486M increase.
- Norges Bank's biggest Q4 2017 reduction was Blackrock, cutting an estimated $579M.
- Norges Bank fully exited CR Bard Inc. in Q4 2017, selling an estimated $201M.
- Norges Bank's ten largest holdings make up 16% of its $279B portfolio in Q4 2017.
- Norges Bank opened 52 new positions and closed 62 in Q4 2017.
- Norges Bank's portfolio value rose 5.9% quarter-over-quarter to $279B.
Based on Norges Bank's 13F filing for Q4 2017, filed 9 Feb 2018.