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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
+5.56%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$212B
AUM Growth
+$1.12B
Cap. Flow
+$2.17B
Cap. Flow %
1.02%
Top 10 Hldgs %
14.27%
Holding
2,233
New
58
Increased
931
Reduced
669
Closed
85

Top Buys

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$510M
2
APTV icon
Aptiv
APTV
+$358M
3
LYB icon
LyondellBasell Industries
LYB
+$345M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$290M
5
NXPI icon
NXP Semiconductors
NXPI
+$195M

Top Sells

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$479M
2
DUK icon
Duke Energy
DUK
+$392M
3
VZ icon
Verizon
VZ
+$261M
4
CCI icon
Crown Castle
CCI
+$186M
5
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
+$167M

Sector Composition

Rank Sector Weight
1 Financials 17.63%
2 Technology 14.57%
3 Healthcare 13.9%
4 Consumer Discretionary 9.72%
5 Industrials 8.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SCHW
326
Charles Schwab
SCHW
$183B
$118M 0.06%
3,916,460
-165,948
-4% -$4.87M
CINF icon
327
Cincinnati Financial
CINF
$27.3B
$118M 0.06%
1,635,766
-44,789
-3% -$3.39M
DLTR icon
328
Dollar Tree
DLTR
$24.4B
$118M 0.06%
1,561,019
-134,739
-8% -$12.1M
UHS icon
329
Universal Health Services
UHS
$10.2B
$118M 0.06%
999,753
+6,650
+0.7% +$842K
LNKD
330
DELISTED
LinkedIn Corporation
LNKD
$117M 0.06%
641,332
-150,645
-19% -$28.9M
WAT icon
331
Waters Corp
WAT
$37B
$117M 0.06%
772,199
-6,366
-0.8% -$985K
KLAC icon
332
KLA
KLAC
$239B
$116M 0.06%
17,491,600
-5,584,140
-24% -$40.2M
MXIM
333
DELISTED
Maxim Integrated Products
MXIM
$116M 0.05%
3,042,479
+192,952
+7% +$7.61M
INFO
334
DELISTED
IHS Markit Ltd. Common Shares
INFO
$116M 0.05%
3,234,777
+2,225,104
+220% +$79.5M
MKL icon
335
Markel Group
MKL
$23.3B
$116M 0.05%
130,338
-1,073
-0.8% -$1M
DAL icon
336
Delta Air Lines
DAL
$57.5B
$115M 0.05%
3,062,892
-7,459
-0.2% -$282K
FITB
337
Fifth Third Bancorp
FITB
$51.2B
$114M 0.05%
5,844,145
-310,680
-5% -$6M
LH icon
338
Labcorp
LH
$25.4B
$114M 0.05%
1,010,146
– –
CMG icon
339
Chipotle Mexican Grill
CMG
$47.2B
$113M 0.05%
14,019,900
-59,750
-0.4% -$491K
VIAB
340
DELISTED
Viacom Inc. Class B
VIAB
$113M 0.05%
3,100,356
-39,028
-1% -$1.62M
HST icon
341
Host Hotels & Resorts
HST
$17.2B
$113M 0.05%
7,573,852
+152,766
+2% +$2.62M
MRO
342
DELISTED
Marathon Oil Corporation
MRO
$112M 0.05%
7,420,789
-661,510
-8% -$9.82M
MAC icon
343
Macerich
MAC
$7.33B
$112M 0.05%
1,447,987
+43,594
+3% +$3.68M
HSIC icon
344
Henry Schein
HSIC
$9.77B
$112M 0.05%
1,832,045
– –
AYI icon
345
Acuity Brands
AYI
$9.83B
$112M 0.05%
441,715
-1,902
-0.4% -$506K
BALL icon
346
Ball Corp
BALL
$17.3B
$111M 0.05%
2,847,552
+842,674
+42% +$32.2M
A icon
347
Agilent Technologies
A
$39.1B
$111M 0.05%
2,477,070
+32,653
+1% +$1.52M
TIF
348
DELISTED
Tiffany & Co.
TIF
$111M 0.05%
1,602,610
+270,705
+20% +$18.1M
HSY icon
349
Hershey
HSY
$35.5B
$111M 0.05%
1,217,497
– –
EL icon
350
Estee Lauder
EL
$30.4B
$111M 0.05%
1,311,961
-272,618
-17% -$24.9M
12 13
14
15 16

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Norges Bank's Q3 2016 Portfolio in Review

As of Q3 2016, Norges Bank held 2,233 positions worth $212B, up 0.53% from $210B the previous quarter. Its ten largest holdings account for 14% of the portfolio.

Norges Bank's Q3 2016 filing shows 58 new, 931 increased, 669 reduced and 85 closed positions. Its largest new stake was Fortive: 4,010,057 shares worth $123M. The largest sale was EMC CORPORATION, an estimated $479M.

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

  • Norges Bank's largest Q3 2016 buy was Fortive: 4,010,057 shares worth $123M.
  • Norges Bank added most to Broadcom in Q3 2016, an estimated $510M increase.
  • Norges Bank's biggest Q3 2016 reduction was Verizon, cutting an estimated $261M.
  • Norges Bank fully exited EMC CORPORATION in Q3 2016, selling an estimated $479M.
  • Norges Bank's ten largest holdings make up 14% of its $212B portfolio in Q3 2016.
  • Norges Bank opened 58 new positions and closed 85 in Q3 2016.
  • Norges Bank's portfolio value rose 0.53% quarter-over-quarter to $212B.

Based on Norges Bank's 13F filing for Q3 2016, filed 14 Nov 2016.