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 |
Alphabet (Google) Class A
GOOGL
|
+$1.65B |
| 2 |
Synchrony
SYF
|
+$318M |
| 3 |
Hewlett Packard
HPE
|
+$245M |
| 4 |
Amazon
AMZN
|
+$195M |
| 5 |
Pfizer
PFE
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.54B |
| 2 |
Mastercard
MA
|
+$393M |
| 3 |
Chubb
CB
|
+$261M |
| 4 |
Oracle
ORCL
|
+$257M |
| 5 |
HP
HPQ
|
+$250M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.39% |
| 2 | Healthcare | 15.14% |
| 3 | Technology | 14.01% |
| 4 | Consumer Discretionary | 9.99% |
| 5 | Communication Services | 9.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
GMCR
326
DELISTED
KEURIG GREEN MTN INC
GMCR
| $107M | 0.05% |
1,189,878
-348,503
| -23% | -$21.7M |
|
327
Ulta Beauty
ULTA
$23.3B
| $107M | 0.05% |
578,459
+4,280
| +0.7% | +$739K |
|
328
Waters Corp
WAT
$41B
| $107M | 0.05% |
794,960
+8,474
| +1% | +$1.09M |
|
329
Whirlpool
WHR
$2.15B
| $107M | 0.05% |
728,360
+13,184
| +2% | +$2.05M |
|
330
Agilent Technologies
A
$42.4B
| $107M | 0.05% |
2,558,446
-18,151
| -0.7% | -$702K |
|
331
Autodesk
ADSK
$47.3B
| $107M | 0.05% |
1,754,936
| – | – |
|
332
Lam Research
LRCX
$339B
| $107M | 0.05% |
13,452,810
| – | – |
|
333
Check Point Software Technologies
CHKP
$14.1B
| $106M | 0.05% |
1,307,230
-58,234
| -4% | -$4.83M |
|
334
Southwest Airlines
LUV
$19.2B
| $106M | 0.05% |
2,456,576
-454,922
| -16% | -$20.1M |
|
335
Under Armour
UAA
$2.13B
| $106M | 0.05% |
2,623,312
+515,642
| +24% | +$23.5M |
|
336
Capri Holdings
CPRI
$1.6B
| $105M | 0.05% |
2,623,997
+33,342
| +1% | +$1.37M |
|
|
QVCGA
337
DELISTED
QVC Group Inc Series A
QVCGA
| $104M | 0.05% |
78,637
+1,853
| +2% | +$2.43M |
|
338
CGI
GIB
$14.9B
| $104M | 0.05% |
2,609,618
| – | – |
|
339
Northern Trust
NTRS
$32.7B
| $104M | 0.05% |
1,443,100
+30,053
| +2% | +$2.16M |
|
340
Citizens Financial Group
CFG
$29.6B
| $104M | 0.05% |
3,969,308
+2,877,209
| +263% | +$72.4M |
|
341
D.R. Horton
DHI
$39.2B
| $104M | 0.05% |
3,239,936
+85,849
| +3% | +$2.68M |
|
342
WEC Energy
WEC
$33.7B
| $104M | 0.05% |
2,020,000
-1,486,614
| -42% | -$75.9M |
|
|
COL
343
DELISTED
Rockwell Collins
COL
| $103M | 0.05% |
1,121,262
| – | – |
|
|
PCL
344
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
| $103M | 0.05% |
2,163,077
+487,296
| +29% | +$22.1M |
|
345
Verisk Analytics
VRSK
$23.4B
| $103M | 0.05% |
1,340,833
-5,985
| -0.4% | -$455K |
|
346
Cincinnati Financial
CINF
$26.3B
| $102M | 0.05% |
1,728,665
+41,692
| +2% | +$2.47M |
|
347
Newell Brands
NWL
$2.4B
| $102M | 0.05% |
2,319,196
-57,524
| -2% | -$2.52M |
|
348
Best Buy
BBY
$19.6B
| $102M | 0.05% |
3,356,432
-30,839
| -0.9% | -$1.02M |
|
349
Devon Energy
DVN
$56.5B
| $102M | 0.05% |
3,177,063
-15,130
| -0.5% | -$621K |
|
350
Quest Diagnostics
DGX
$27.3B
| $102M | 0.05% |
1,428,268
| – | – |
|
Similar funds
Norges Bank's Q4 2015 Portfolio in Review
As of Q4 2015, Norges Bank held 2,329 positions worth $201B, up 5.4% from $191B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q4 2015 filing shows 47 new, 880 increased, 556 reduced and 99 closed positions. Its largest new stake was Alphabet (Google) Class A: 44,521,280 shares worth $1.73B. The largest sale was Alphabet (Google) Class C, an estimated $1.54B.
By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 19% a quarter earlier, followed by Healthcare and Technology.
- Norges Bank's largest Q4 2015 buy was Alphabet (Google) Class A: 44,521,280 shares worth $1.73B.
- Norges Bank added most to Synchrony in Q4 2015, an estimated $318M increase.
- Norges Bank's biggest Q4 2015 reduction was Alphabet (Google) Class C, cutting an estimated $1.54B.
- Norges Bank fully exited HUDSON CITY BANCORP INC in Q4 2015, selling an estimated $189M.
- Norges Bank's ten largest holdings make up 14% of its $201B portfolio in Q4 2015.
- Norges Bank opened 47 new positions and closed 99 in Q4 2015.
- Norges Bank's portfolio value rose 5.4% quarter-over-quarter to $201B.
Based on Norges Bank's 13F filing for Q4 2015, filed 10 Feb 2016.