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 |
UBS Group
UBS
|
+$2.47B |
| 2 |
AGN
Allergan plc
AGN
|
+$1.01B |
| 3 |
Medtronic
MDT
|
+$862M |
| 4 |
Ameriprise Financial
AMP
|
+$592M |
| 5 |
PayPal
PYPL
|
+$354M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$372M |
| 2 |
eBay
EBAY
|
+$333M |
| 3 |
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
|
+$240M |
| 4 |
Chubb
CB
|
+$202M |
| 5 |
PLL
PALL CORP
PLL
|
+$149M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.09% |
| 2 | Healthcare | 14.17% |
| 3 | Technology | 13.55% |
| 4 | Consumer Discretionary | 9.72% |
| 5 | Industrials | 9.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AMTD
476
DELISTED
TD Ameritrade Holding Corp
AMTD
| $67.7M | 0.04% |
2,126,087
-54,382
| -2% | -$1.91M |
|
477
AXIS Capital
AXS
$7.68B
| $67.5M | 0.04% |
1,256,883
+77,525
| +7% | +$4.3M |
|
478
Centene
CNC
$30.7B
| $67.3M | 0.04% |
2,482,192
+511,928
| +26% | +$17.1M |
|
479
Cheniere Energy
LNG
$55.2B
| $67.2M | 0.04% |
1,390,516
-374,921
| -21% | -$23.1M |
|
|
JAH
480
DELISTED
JARDEN CORPORATION
JAH
| $66.9M | 0.04% |
1,368,251
-34,872
| -2% | -$1.84M |
|
|
TYC
481
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
| $66.5M | 0.03% |
1,897,509
-2,095,804
| -52% | -$80.7M |
|
|
PCL
482
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
| $66.2M | 0.03% |
1,675,781
+126,439
| +8% | +$5.07M |
|
483
Snap-on
SNA
$21.2B
| $65.9M | 0.03% |
436,383
-10,257
| -2% | -$1.65M |
|
484
Lennar Class A
LEN
$19.8B
| $65.9M | 0.03% |
1,437,425
| – | – |
|
485
Microchip Technology
MCHP
$40.3B
| $65.5M | 0.03% |
3,040,004
+73,282
| +2% | +$1.58M |
|
486
International Flavors & Fragrances
IFF
$20.2B
| $65.4M | 0.03% |
633,533
| – | – |
|
|
VAR
487
DELISTED
Varian Medical Systems, Inc.
VAR
| $65.2M | 0.03% |
1,007,964
| – | – |
|
488
Pediatrix Medical
MD
$2.18B
| $64.9M | 0.03% |
844,751
| – | – |
|
489
Pultegroup
PHM
$24.1B
| $64.8M | 0.03% |
3,433,871
| – | – |
|
490
Herbalife
HLF
$1.29B
| $64.7M | 0.03% |
2,375,560
| – | – |
|
491
W.R. Berkley
WRB
$26.9B
| $64.7M | 0.03% |
4,017,006
| – | – |
|
492
Herc Holdings
HRI
$5.02B
| $64.7M | 0.03% |
1,288,265
+5,085
| +0.4% | +$266K |
|
|
IPG
493
DELISTED
Interpublic Group of Companies
IPG
| $64.6M | 0.03% |
3,378,659
-45,561
| -1% | -$910K |
|
494
Charter Communications
CHTR
$17.3B
| $64.5M | 0.03% |
366,708
+30,005
| +9% | +$5.48M |
|
495
Donaldson
DCI
$10.9B
| $64.4M | 0.03% |
2,294,317
-265,354
| -10% | -$8.52M |
|
496
KeyCorp
KEY
$24.2B
| $63.9M | 0.03% |
4,909,741
-39,093
| -0.8% | -$555K |
|
497
Telus
TU
$14.9B
| $63.9M | 0.03% |
4,071,794
-581,202
| -12% | -$9.66M |
|
498
Clean Harbors
CLH
$16.5B
| $63.9M | 0.03% |
1,452,176
-335,149
| -19% | -$16.6M |
|
|
NLSN
499
DELISTED
Nielsen Holdings plc
NLSN
| $63.8M | 0.03% |
1,434,001
-88,585
| -6% | -$4.09M |
|
500
Atmos Energy
ATO
$28.8B
| $63.6M | 0.03% |
1,092,553
-500
| -0% | -$27.5K |
|
Similar funds
Norges Bank's Q3 2015 Portfolio in Review
As of Q3 2015, Norges Bank held 2,397 positions worth $191B, down 4.6% from $200B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank deployed $8.74B of net new capital in Q3 2015, opening 123 new positions and adding to 836 existing holdings. Its largest new stake was Allergan plc: 3,274,552 shares worth $890M.
By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 18% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was eBay, an estimated $333M trimmed.
- Norges Bank's largest Q3 2015 buy was Allergan plc: 3,274,552 shares worth $890M.
- Norges Bank added most to UBS Group in Q3 2015, an estimated $2.47B increase.
- Norges Bank's biggest Q3 2015 reduction was eBay, cutting an estimated $333M.
- Norges Bank fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $372M.
- Norges Bank's ten largest holdings make up 14% of its $191B portfolio in Q3 2015.
- Norges Bank opened 123 new positions and closed 115 in Q3 2015.
- Norges Bank's portfolio value fell 4.6% quarter-over-quarter to $191B.
Based on Norges Bank's 13F filing for Q3 2015, filed 6 Nov 2015.