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 |
Deutsche Bank
DB
|
+$567M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$494M |
| 3 |
Equinix
EQIX
|
+$336M |
| 4 |
Charter Communications
CHTR
|
+$297M |
| 5 |
Apple
AAPL
|
+$227M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$559M |
| 2 |
Aflac
AFL
|
+$475M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$333M |
| 4 |
Aon
AON
|
+$261M |
| 5 |
Verizon
VZ
|
+$247M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.53% |
| 2 | Healthcare | 14.51% |
| 3 | Technology | 13.82% |
| 4 | Consumer Discretionary | 9.56% |
| 5 | Communication Services | 9.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Incyte
INCY
$24.7B
| $115M | 0.05% |
1,435,087
-30,769
| -2% | -$2.39M |
|
327
Eastman Chemical
EMN
$7.53B
| $114M | 0.05% |
1,683,273
-624,489
| -27% | -$45.9M |
|
|
S
328
DELISTED
Sprint Corporation
S
| $114M | 0.05% |
25,220,559
+3,490,615
| +16% | +$12.9M |
|
329
BCE
BCE
$21.4B
| $114M | 0.05% |
2,426,790
-212,737
| -8% | -$9.86M |
|
330
Church & Dwight Co
CHD
$22.4B
| $113M | 0.05% |
2,205,190
+509,438
| +30% | +$24.6M |
|
331
Chipotle Mexican Grill
CMG
$44.1B
| $113M | 0.05% |
14,079,650
+2,092,500
| +17% | +$18.2M |
|
332
Essex Property Trust
ESS
$17.7B
| $113M | 0.05% |
496,340
+22,699
| +5% | +$5.07M |
|
333
Labcorp
LH
$26.3B
| $113M | 0.05% |
1,010,146
-164,959
| -14% | -$17.8M |
|
334
Liberty Global Class A
LBTYA
$3.58B
| $113M | 0.05% |
3,881,539
-204,392
| -5% | -$6.64M |
|
335
BorgWarner
BWA
$12.7B
| $112M | 0.05% |
4,324,449
+2,047,436
| +90% | +$61.9M |
|
336
Delta Air Lines
DAL
$51.9B
| $112M | 0.05% |
3,070,351
-181,267
| -6% | -$7.71M |
|
|
LLL
337
DELISTED
L3 Technologies, Inc.
LLL
| $111M | 0.05% |
759,734
| – | – |
|
338
CGI
GIB
$14.9B
| $111M | 0.05% |
2,615,997
+76,910
| +3% | +$3.56M |
|
339
Everest Group
EG
$14.6B
| $111M | 0.05% |
608,110
| – | – |
|
340
Vulcan Materials
VMC
$32.3B
| $111M | 0.05% |
919,927
-84,347
| -8% | -$9.55M |
|
341
Williams Companies
WMB
$87.6B
| $111M | 0.05% |
5,118,406
+150,925
| +3% | +$3.03M |
|
|
CA
342
DELISTED
CA, Inc.
CA
| $111M | 0.05% |
3,370,472
-5,558
| -0.2% | -$174K |
|
343
McCormick & Company Non-Voting
MKC
$13.4B
| $110M | 0.05% |
2,071,250
+77,156
| +4% | +$3.77M |
|
344
Equifax
EFX
$19.6B
| $110M | 0.05% |
859,733
-19,861
| -2% | -$2.41M |
|
345
Acuity Brands
AYI
$8.98B
| $110M | 0.05% |
443,617
+43,956
| +11% | +$11M |
|
346
C.H. Robinson
CHRW
$18.4B
| $110M | 0.05% |
1,478,455
+53,614
| +4% | +$3.92M |
|
347
Waters Corp
WAT
$41B
| $110M | 0.05% |
778,565
-20,475
| -3% | -$2.77M |
|
348
Cenovus Energy
CVE
$62.6B
| $109M | 0.05% |
7,940,916
+354,283
| +5% | +$5.13M |
|
349
Imperial Oil
IMO
$65.5B
| $109M | 0.05% |
3,463,245
-95,915
| -3% | -$3.04M |
|
350
CenterPoint Energy
CNP
$25B
| $109M | 0.05% |
4,540,812
+1,182,689
| +35% | +$26.1M |
|
Similar funds
Norges Bank's Q2 2016 Portfolio in Review
As of Q2 2016, Norges Bank held 2,246 positions worth $210B, up 3.5% from $203B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q2 2016 filing shows 58 new, 1,025 increased, 662 reduced and 72 closed positions. Its largest new stake was Deutsche Bank: 37,741,953 shares worth $461M. The largest sale was TIME WARNER CABLE INC NEW COM STK, an estimated $559M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 18% a quarter earlier, followed by Healthcare and Technology.
- Norges Bank's largest Q2 2016 buy was Deutsche Bank: 37,741,953 shares worth $461M.
- Norges Bank added most to Alphabet (Google) Class A in Q2 2016, an estimated $494M increase.
- Norges Bank's biggest Q2 2016 reduction was Aflac, cutting an estimated $475M.
- Norges Bank fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $559M.
- Norges Bank's ten largest holdings make up 14% of its $210B portfolio in Q2 2016.
- Norges Bank opened 58 new positions and closed 72 in Q2 2016.
- Norges Bank's portfolio value rose 3.5% quarter-over-quarter to $210B.
Based on Norges Bank's 13F filing for Q2 2016, filed 12 Aug 2016.