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 | |
|---|---|---|---|---|---|---|
376
Coty
COTY
$2.33B
| $112M | 0.05% |
6,131,892
+4,264,492
| +228% | +$88.1M |
|
|
XEC
377
DELISTED
CIMAREX ENERGY CO
XEC
| $112M | 0.05% |
825,294
-25,510
| -3% | -$3.42M |
|
378
Imperial Oil
IMO
$65.5B
| $112M | 0.05% |
3,220,021
-259,733
| -7% | -$8.72M |
|
379
Idexx Laboratories
IDXX
$40.2B
| $112M | 0.05% |
956,231
+162,610
| +20% | +$18.6M |
|
380
McCormick & Company Non-Voting
MKC
$13.4B
| $112M | 0.05% |
2,402,376
+362,162
| +18% | +$16.9M |
|
381
Dell
DELL
$346B
| $111M | 0.05% |
7,217,574
+109,734
| +2% | +$1.57M |
|
|
NLSN
382
DELISTED
Nielsen Holdings plc
NLSN
| $111M | 0.05% |
2,634,949
+94,256
| +4% | +$4.33M |
|
383
JB Hunt Transport Services
JBHT
$25.6B
| $110M | 0.05% |
1,137,101
+245,793
| +28% | +$21.9M |
|
384
MGM Resorts International
MGM
$9.87B
| $110M | 0.05% |
3,815,330
+77,509
| +2% | +$2.15M |
|
|
JWN
385
DELISTED
Nordstrom
JWN
| $109M | 0.05% |
2,271,596
-535,447
| -19% | -$29.1M |
|
386
Fortis
FTS
$27.3B
| $109M | 0.05% |
+3,518,478
| New | +$109M |
|
|
FRC
387
DELISTED
First Republic Bank
FRC
| $109M | 0.05% |
1,179,655
+16,622
| +1% | +$1.36M |
|
388
BorgWarner
BWA
$12.7B
| $109M | 0.05% |
3,125,442
-333,612
| -10% | -$10.8M |
|
389
Digital Realty Trust
DLR
$66.5B
| $108M | 0.05% |
1,099,754
-192,656
| -15% | -$17.9M |
|
390
Arch Capital
ACGL
$33.1B
| $107M | 0.05% |
3,728,349
+37,515
| +1% | +$1.02M |
|
391
Microchip Technology
MCHP
$38.8B
| $107M | 0.05% |
3,333,150
-50,160
| -1% | -$1.58M |
|
392
Macerich
MAC
$6.35B
| $107M | 0.05% |
1,508,768
+60,781
| +4% | +$4.34M |
|
|
SBNY
393
DELISTED
Signature Bank
SBNY
| $107M | 0.05% |
709,510
+42,862
| +6% | +$5.85M |
|
394
Fidelity National Financial
FNF
$11.7B
| $107M | 0.05% |
4,518,216
+461,162
| +11% | +$11.1M |
|
395
Hormel Foods
HRL
$11.4B
| $107M | 0.05% |
3,059,893
+416,744
| +16% | +$15M |
|
396
Oneok
OKE
$59.7B
| $106M | 0.05% |
1,849,726
-71,458
| -4% | -$3.75M |
|
397
Universal Health Services
UHS
$10.4B
| $106M | 0.05% |
995,700
-4,053
| -0.4% | -$480K |
|
398
Chipotle Mexican Grill
CMG
$44.1B
| $106M | 0.05% |
14,019,900
| – | – |
|
|
CA
399
DELISTED
CA, Inc.
CA
| $106M | 0.05% |
3,325,469
+83,484
| +3% | +$2.67M |
|
|
LLL
400
DELISTED
L3 Technologies, Inc.
LLL
| $105M | 0.05% |
689,421
-67,059
| -9% | -$10.1M |
|
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.