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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
+7.03%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$308B
AUM Growth
+$16.6B
Cap. Flow
+$44.1M
Cap. Flow %
0.01%
Top 10 Hldgs %
17.3%
Holding
2,209
New
74
Increased
715
Reduced
609
Closed
67

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$203M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$196M
3
T icon
AT&T
T
+$174M
4
NIO icon
NIO
NIO
+$163M
5
TMUS icon
T-Mobile US
TMUS
+$130M

Top Sells

Rank Stock Value
1
GGP
GGP Inc.
GGP
+$606M
2
WFC icon
Wells Fargo
WFC
+$206M
3
ORCL icon
Oracle
ORCL
+$200M
4
UBS icon
UBS Group
UBS
+$185M
5
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$154M

Sector Composition

Rank Sector Weight
1 Technology 17.96%
2 Financials 17.19%
3 Healthcare 13.99%
4 Consumer Discretionary 11.37%
5 Communication Services 9.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MET icon
201
MetLife
MET
$62.4B
$300M 0.1%
6,423,467
-983,387
-13% -$44.9M
AABA
202
DELISTED
Altaba Inc
AABA
$300M 0.1%
4,403,952
– –
FTV icon
203
Fortive
FTV
$18B
$298M 0.1%
5,608,798
-550,621
-9% -$28.2M
CNC icon
204
Centene
CNC
$30.5B
$296M 0.1%
4,083,124
+12,532
+0.3% +$870K
YUM icon
205
Yum! Brands
YUM
$41.9B
$291M 0.09%
3,201,514
-44,189
-1% -$3.69M
ROP icon
206
Roper Technologies
ROP
$40.3B
$290M 0.09%
977,487
+84,029
+9% +$24.8M
WP
207
DELISTED
Worldpay, Inc.
WP
$289M 0.09%
2,849,903
+189,132
+7% +$17.3M
EIX icon
208
Edison International
EIX
$30.4B
$287M 0.09%
4,247,566
-61,312
-1% -$4.1M
EL icon
209
Estee Lauder
EL
$30.8B
$287M 0.09%
1,972,779
+162,172
+9% +$22.5M
AMD icon
210
Advanced Micro Devices
AMD
$721B
$287M 0.09%
9,278,966
+3,469,449
+60% +$78.3M
NTAP icon
211
NetApp
NTAP
$34.4B
$285M 0.09%
3,319,798
-2,068
-0.1% -$171K
PSA icon
212
Public Storage
PSA
$62B
$281M 0.09%
1,395,168
+8,377
+0.6% +$1.81M
ORLY icon
213
O'Reilly Automotive
ORLY
$75.2B
$280M 0.09%
12,110,055
+66,495
+0.6% +$1.41M
AFL icon
214
Aflac
AFL
$65.5B
$279M 0.09%
5,924,860
-1,754,080
-23% -$80.3M
GLW icon
215
Corning
GLW
$108B
$278M 0.09%
7,871,075
-862,323
-10% -$28M
PXD
216
DELISTED
Pioneer Natural Resource Co.
PXD
$275M 0.09%
1,580,698
+16,286
+1% +$2.91M
ADM icon
217
Archer Daniels Midland
ADM
$39B
$275M 0.09%
5,462,417
– –
MFC icon
218
Manulife Financial
MFC
$73.6B
$273M 0.09%
15,286,127
+3,285,512
+27% +$59.7M
CMI icon
219
Cummins
CMI
$84.8B
$272M 0.09%
1,863,112
-14,525
-0.8% -$2.04M
CCL icon
220
Carnival Corporation Ltd
CCL
$38.4B
$271M 0.09%
4,257,370
+544,655
+15% +$33M
NXPI icon
221
NXP Semiconductors
NXPI
$62.4B
$271M 0.09%
3,170,612
+15,000
+0.5% +$1.44M
JBGS
222
JBG SMITH
JBGS
$853M
$270M 0.09%
7,333,907
+133,404
+2% +$4.91M
STI
223
DELISTED
SunTrust Banks, Inc.
STI
$266M 0.09%
3,978,258
+63,102
+2% +$4.5M
AON icon
224
Aon
AON
$80.1B
$266M 0.09%
1,727,260
-565,070
-25% -$82.6M
OKE icon
225
Oneok
OKE
$56.3B
$264M 0.09%
3,889,381
+39,070
+1% +$2.67M
7 8
9
10 11

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Norges Bank's Q3 2018 Portfolio in Review

As of Q3 2018, Norges Bank held 2,209 positions worth $308B, up 5.7% from $291B the previous quarter. Its ten largest holdings account for 17% of the portfolio.

Norges Bank's Q3 2018 filing shows 74 new, 715 increased, 609 reduced and 67 closed positions. Its largest new stake was NIO: 19,750,000 shares worth $138M. The largest sale was GGP Inc., an estimated $606M.

By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q3 2018 buy was NIO: 19,750,000 shares worth $138M.
  • Norges Bank added most to Meta Platforms (Facebook) in Q3 2018, an estimated $203M increase.
  • Norges Bank's biggest Q3 2018 reduction was Wells Fargo, cutting an estimated $206M.
  • Norges Bank fully exited GGP Inc. in Q3 2018, selling an estimated $606M.
  • Norges Bank's ten largest holdings make up 17% of its $308B portfolio in Q3 2018.
  • Norges Bank opened 74 new positions and closed 67 in Q3 2018.
  • Norges Bank's portfolio value rose 5.7% quarter-over-quarter to $308B.

Based on Norges Bank's 13F filing for Q3 2018, filed 9 Nov 2018.