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
|
+$410M |
| 2 |
Ameriprise Financial
AMP
|
+$222M |
| 3 |
UBS Group
UBS
|
+$218M |
| 4 |
Bank of America
BAC
|
+$214M |
| 5 |
Verizon
VZ
|
+$213M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$639M |
| 2 |
Prologis
PLD
|
+$395M |
| 3 |
BRCM
BROADCOM CORP CL-A
BRCM
|
+$291M |
| 4 |
Macerich
MAC
|
+$287M |
| 5 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$268M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.36% |
| 2 | Technology | 14.39% |
| 3 | Healthcare | 14.03% |
| 4 | Consumer Discretionary | 10.04% |
| 5 | Communication Services | 9.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CA
351
DELISTED
CA, Inc.
CA
| $104M | 0.05% |
3,376,030
+17,630
| +0.5% | +$506K |
|
352
Under Armour
UAA
$2.11B
| $104M | 0.05% |
2,448,762
-174,550
| -7% | -$6.89M |
|
353
Mattel
MAT
$3.86B
| $104M | 0.05% |
3,086,602
-15,368
| -0.5% | -$467K |
|
|
COL
354
DELISTED
Rockwell Collins
COL
| $103M | 0.05% |
1,121,262
| – | – |
|
355
Agilent Technologies
A
$42.4B
| $103M | 0.05% |
2,588,032
+29,586
| +1% | +$1.13M |
|
356
Western Digital
WDC
$149B
| $103M | 0.05% |
2,877,668
-13,950
| -0.5% | -$499K |
|
357
Western Union
WU
$2.15B
| $103M | 0.05% |
5,325,709
| – | – |
|
358
Digital Realty Trust
DLR
$66.3B
| $102M | 0.05% |
1,157,479
+511,079
| +79% | +$41.4M |
|
359
Fomento Económico Mexicano
FMX
$41.3B
| $102M | 0.05% |
1,062,692
| – | – |
|
360
Masco
MAS
$13.6B
| $101M | 0.05% |
3,203,030
-2,279
| -0.1% | -$62.8K |
|
361
Mohawk Industries
MHK
$8.78B
| $101M | 0.05% |
527,303
-43,550
| -8% | -$7.58M |
|
362
Equifax
EFX
$19.6B
| $101M | 0.05% |
879,594
-127,980
| -13% | -$13.5M |
|
363
Advance Auto Parts
AAP
$2.61B
| $100M | 0.05% |
624,743
-6,974
| -1% | -$1.05M |
|
364
Darden Restaurants
DRI
$23.7B
| $99.8M | 0.05% |
1,505,295
+33,762
| +2% | +$2.14M |
|
|
QVCGA
365
DELISTED
QVC Group Inc Series A
QVCGA
| $99.3M | 0.05% |
81,052
+2,415
| +3% | +$2.94M |
|
366
McCormick & Company Non-Voting
MKC
$13.5B
| $99.2M | 0.05% |
1,994,094
+23,376
| +1% | +$1.05M |
|
367
Cenovus Energy
CVE
$62.5B
| $99.1M | 0.05% |
7,586,633
-78,783
| -1% | -$942K |
|
368
D.R. Horton
DHI
$39.3B
| $98.5M | 0.05% |
3,258,550
+18,614
| +0.6% | +$511K |
|
369
AB InBev
BUD
$157B
| $96.7M | 0.05% |
776,102
| – | – |
|
370
Nasdaq
NDAQ
$49.8B
| $96.6M | 0.05% |
4,367,136
-660,738
| -13% | -$13.6M |
|
371
Nucor
NUE
$58.5B
| $96.3M | 0.05% |
2,035,296
+581,320
| +40% | +$23.7M |
|
372
Harley-Davidson
HOG
$2.87B
| $96.1M | 0.05% |
1,871,540
+10,219
| +0.5% | +$446K |
|
373
Bread Financial
BFH
$4.12B
| $95.8M | 0.05% |
545,466
-31,062
| -5% | -$5.42M |
|
|
WRK
374
DELISTED
WestRock Company
WRK
| $95.3M | 0.05% |
2,710,224
-104,377
| -4% | -$3.4M |
|
375
Hartford Financial Services
HIG
$36.8B
| $95M | 0.05% |
2,061,978
+50,187
| +2% | +$2.11M |
|
Similar funds
Norges Bank's Q1 2016 Portfolio in Review
As of Q1 2016, Norges Bank held 2,266 positions worth $203B, up 1.1% from $201B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q1 2016 filing shows 36 new, 739 increased, 656 reduced and 78 closed positions. Its largest new stake was Ferrari: 2,593,904 shares worth $108M. The largest sale was Comcast, an estimated $639M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q1 2016 buy was Ferrari: 2,593,904 shares worth $108M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2016, an estimated $410M increase.
- Norges Bank's biggest Q1 2016 reduction was Comcast, cutting an estimated $639M.
- Norges Bank fully exited BROADCOM CORP CL-A in Q1 2016, selling an estimated $291M.
- Norges Bank's ten largest holdings make up 15% of its $203B portfolio in Q1 2016.
- Norges Bank opened 36 new positions and closed 78 in Q1 2016.
- Norges Bank's portfolio value rose 1.1% quarter-over-quarter to $203B.
Based on Norges Bank's 13F filing for Q1 2016, filed 10 May 2016.