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 | |
|---|---|---|---|---|---|---|
351
Wheaton Precious Metals
WPM
$68.1B
| $120M | 0.05% |
6,185,673
+375,574
| +6% | +$7.83M |
|
352
Autodesk
ADSK
$47.3B
| $119M | 0.05% |
1,614,344
-137,340
| -8% | -$10.1M |
|
353
Bath & Body Works
BBWI
$3.37B
| $119M | 0.05% |
2,242,502
-250,836
| -10% | -$14.3M |
|
354
Advance Auto Parts
AAP
$2.62B
| $119M | 0.05% |
703,955
+98,355
| +16% | +$15.5M |
|
355
Agilent Technologies
A
$42.4B
| $119M | 0.05% |
2,603,954
+126,884
| +5% | +$5.76M |
|
356
Cincinnati Financial
CINF
$26.3B
| $118M | 0.05% |
1,561,508
-74,258
| -5% | -$5.52M |
|
357
Markel Group
MKL
$22.2B
| $118M | 0.05% |
130,338
| – | – |
|
358
Liberty Global Class A
LBTYA
$3.58B
| $118M | 0.05% |
3,847,870
| – | – |
|
359
United Rentals
URI
$61.6B
| $117M | 0.05% |
1,110,594
+113,786
| +11% | +$10.4M |
|
360
Darden Restaurants
DRI
$23.7B
| $117M | 0.05% |
1,610,186
+93,922
| +6% | +$6.53M |
|
|
NBL
361
DELISTED
Noble Energy, Inc.
NBL
| $117M | 0.05% |
3,067,194
+159,901
| +5% | +$5.95M |
|
362
NetApp
NTAP
$37.3B
| $117M | 0.05% |
3,308,350
-988,096
| -23% | -$34.6M |
|
363
Eastman Chemical
EMN
$7.53B
| $116M | 0.05% |
1,542,311
-111,822
| -7% | -$8.08M |
|
364
Harley-Davidson
HOG
$2.87B
| $116M | 0.05% |
1,986,036
+231,052
| +13% | +$13.2M |
|
365
Campbell Soup
CPB
$6.37B
| $116M | 0.05% |
1,912,190
+200,980
| +12% | +$11.3M |
|
366
Marvell Technology
MRVL
$199B
| $116M | 0.05% |
8,335,900
+355,133
| +4% | +$4.84M |
|
367
Essex Property Trust
ESS
$17.7B
| $115M | 0.05% |
496,340
| – | – |
|
|
RHT
368
DELISTED
Red Hat Inc
RHT
| $115M | 0.05% |
1,652,669
+76,966
| +5% | +$5.94M |
|
369
Martin Marietta Materials
MLM
$36B
| $115M | 0.05% |
519,104
-11,863
| -2% | -$2.44M |
|
370
W.W. Grainger
GWW
$59.8B
| $114M | 0.05% |
491,508
-24,023
| -5% | -$5.36M |
|
371
Ovintiv
OVV
$18.5B
| $114M | 0.05% |
1,937,741
+53,915
| +3% | +$3.07M |
|
|
VIAB
372
DELISTED
Viacom Inc. Class B
VIAB
| $114M | 0.05% |
3,242,792
+142,436
| +5% | +$5.23M |
|
373
Western Union
WU
$2.14B
| $114M | 0.05% |
5,227,442
-75,300
| -1% | -$1.56M |
|
|
CERN
374
DELISTED
Cerner Corp
CERN
| $113M | 0.05% |
2,381,582
-157,073
| -6% | -$8.34M |
|
375
CenterPoint Energy
CNP
$25B
| $112M | 0.05% |
4,564,121
+23,309
| +0.5% | +$545K |
|
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.