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 |
RTN
Raytheon Company
RTN
|
+$349M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$216M |
| 3 |
Travelers Companies
TRV
|
+$204M |
| 4 |
Citigroup
C
|
+$199M |
| 5 |
Parker-Hannifin
PH
|
+$176M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Broadcom
AVGO
|
+$547M |
| 2 |
LyondellBasell Industries
LYB
|
+$488M |
| 3 |
Hilton Worldwide
HLT
|
+$295M |
| 4 |
Apple
AAPL
|
+$280M |
| 5 |
Visa
V
|
+$267M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.93% |
| 2 | Technology | 14.43% |
| 3 | Healthcare | 13.4% |
| 4 | Consumer Discretionary | 9.53% |
| 5 | Industrials | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
Republic Services
RSG
$68.2B
| $177M | 0.08% |
3,106,831
+11,109
| +0.4% | +$596K |
|
252
Constellation Brands
STZ
$21.3B
| $177M | 0.08% |
1,155,390
+5,901
| +0.5% | +$937K |
|
253
Newell Brands
NWL
$2.49B
| $177M | 0.08% |
3,965,738
+309,569
| +8% | +$15M |
|
254
Omnicom Group
OMC
$21.7B
| $177M | 0.08% |
2,076,013
+602
| +0% | +$50.5K |
|
255
Dollar General
DG
$27.5B
| $175M | 0.08% |
2,365,976
| – | – |
|
256
Fidelity National Information Services
FIS
$19.7B
| $175M | 0.08% |
2,308,808
-139,230
| -6% | -$10.6M |
|
257
Williams Companies
WMB
$89.1B
| $173M | 0.08% |
5,560,975
+401,869
| +8% | +$12.1M |
|
258
Royal Gold
RGLD
$21B
| $172M | 0.08% |
2,720,928
| – | – |
|
259
Axalta
AXTA
$7.21B
| $172M | 0.08% |
6,322,271
+3,904,763
| +162% | +$103M |
|
|
HES
260
DELISTED
Hess
HES
| $171M | 0.07% |
2,741,480
+79,734
| +3% | +$4.36M |
|
|
PPL
261
PPL Corp
PPL
$25.6B
| $169M | 0.07% |
4,959,809
-327,494
| -6% | -$11M |
|
262
Western Digital
WDC
$154B
| $168M | 0.07% |
3,276,911
-560,892
| -15% | -$25.9M |
|
263
Crown Castle
CCI
$31.6B
| $167M | 0.07% |
1,921,789
+445,316
| +30% | +$39M |
|
|
STJ
264
DELISTED
St Jude Medical
STJ
| $166M | 0.07% |
2,073,724
-52,778
| -2% | -$4.19M |
|
265
Viatris
VTRS
$19.1B
| $166M | 0.07% |
4,356,194
-3,392,143
| -44% | -$126M |
|
|
WFM
266
DELISTED
Whole Foods Market Inc
WFM
| $166M | 0.07% |
5,380,723
+946,904
| +21% | +$28.5M |
|
|
PGRE
267
DELISTED
Paramount Group
PGRE
| $165M | 0.07% |
10,336,938
| – | – |
|
268
Ventas
VTR
$45.7B
| $165M | 0.07% |
2,640,314
-165,194
| -6% | -$10.5M |
|
|
ATVI
269
DELISTED
Activision Blizzard
ATVI
| $165M | 0.07% |
4,570,199
| – | – |
|
270
VF Corp
VFC
$5.14B
| $165M | 0.07% |
3,279,049
| – | – |
|
271
Keurig Dr Pepper
KDP
$43B
| $163M | 0.07% |
1,801,690
+132,992
| +8% | +$11.7M |
|
272
Intuitive Surgical
ISRG
$134B
| $163M | 0.07% |
2,310,993
-321,147
| -12% | -$23.6M |
|
273
Amphenol
APH
$194B
| $162M | 0.07% |
19,234,496
+122,712
| +0.6% | +$1.02M |
|
|
FITB
274
Fifth Third Bancorp
FITB
$49.3B
| $161M | 0.07% |
5,981,205
+137,060
| +2% | +$3.29M |
|
|
SHPG
275
DELISTED
Shire pic
SHPG
| $161M | 0.07% |
944,490
| – | – |
|
Similar funds
Norges Bank's Q4 2016 Portfolio in Review
As of Q4 2016, Norges Bank held 2,214 positions worth $229B, up 8.1% from $212B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q4 2016 filing shows 65 new, 867 increased, 654 reduced and 61 closed positions. Its largest new stake was Raytheon Company: 2,453,901 shares worth $348M. The largest sale was Broadcom, an estimated $547M.
By sector, the portfolio is most concentrated in Financials at 20% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q4 2016 buy was Raytheon Company: 2,453,901 shares worth $348M.
- Norges Bank added most to Alphabet (Google) Class C in Q4 2016, an estimated $216M increase.
- Norges Bank's biggest Q4 2016 reduction was Broadcom, cutting an estimated $547M.
- Norges Bank fully exited LinkedIn Corporation in Q4 2016, selling an estimated $117M.
- Norges Bank's ten largest holdings make up 14% of its $229B portfolio in Q4 2016.
- Norges Bank opened 65 new positions and closed 61 in Q4 2016.
- Norges Bank's portfolio value rose 8.1% quarter-over-quarter to $229B.
Based on Norges Bank's 13F filing for Q4 2016, filed 9 Feb 2017.