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 | |
|---|---|---|---|---|---|---|
|
TWO
1101
DELISTED
Two Harbors Investment
TWO
| $27M | 0.01% |
386,440
-14,418
| -4% | -$982K |
|
|
ENDP
1102
DELISTED
Endo International plc
ENDP
| $26.9M | 0.01% |
1,635,834
-979,711
| -37% | -$17.2M |
|
1103
Children's Place
PLCE
$44.9M
| $26.9M | 0.01% |
266,625
+46,239
| +21% | +$4.17M |
|
|
MZTI
1104
The Marzetti Company
MZTI
$2.81B
| $26.8M | 0.01% |
189,893
| – | – |
|
1105
Spire
SR
$4.72B
| $26.8M | 0.01% |
415,925
-83,484
| -17% | -$5.25M |
|
1106
Caleres
CAL
$415M
| $26.8M | 0.01% |
815,411
+42,800
| +6% | +$1.26M |
|
1107
Zillow
Z
$7.04B
| $26.7M | 0.01% |
731,801
| – | – |
|
|
COR
1108
DELISTED
Coresite Realty Corporation
COR
| $26.7M | 0.01% |
336,135
+21,196
| +7% | +$1.56M |
|
1109
United Natural Foods
UNFI
$2.79B
| $26.6M | 0.01% |
558,455
+63,797
| +13% | +$2.86M |
|
|
TIVO
1110
DELISTED
Tivo Inc
TIVO
| $26.6M | 0.01% |
1,274,637
+141,689
| +13% | +$2.88M |
|
1111
ABM Industries
ABM
$2.95B
| $26.6M | 0.01% |
651,736
-20,871
| -3% | -$849K |
|
|
AY
1112
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $26.6M | 0.01% |
1,372,742
+643,036
| +88% | +$11.7M |
|
|
WFT
1113
DELISTED
Weatherford International plc
WFT
| $26.5M | 0.01% |
5,320,048
-1,790,517
| -25% | -$9.37M |
|
|
MASI
1114
DELISTED
Masimo
MASI
| $26.5M | 0.01% |
393,653
| – | – |
|
|
TRQ
1115
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $26.5M | 0.01% |
825,465
| – | – |
|
|
SYNH
1116
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
| $26.5M | 0.01% |
503,666
| – | – |
|
1117
O-I Glass
OI
$945M
| $26.5M | 0.01% |
1,520,502
+515,492
| +51% | +$9.36M |
|
1118
Innospec
IOSP
$2.29B
| $26.4M | 0.01% |
385,514
-2,900
| -0.7% | -$187K |
|
1119
UFP Industries
UFPI
$4.52B
| $26.4M | 0.01% |
774,069
+60,000
| +8% | +$1.95M |
|
1120
SLM Corp
SLM
$4.75B
| $26.3M | 0.01% |
2,387,710
+566,719
| +31% | +$5.09M |
|
|
GTLS
1121
DELISTED
Chart Industries
GTLS
| $26.3M | 0.01% |
730,391
| – | – |
|
1122
Steven Madden
SHOO
$3.04B
| $26.3M | 0.01% |
1,103,217
+99,855
| +10% | +$2.43M |
|
|
SLCA
1123
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| $26.3M | 0.01% |
463,710
+121,401
| +35% | +$6M |
|
1124
LXP Industrial Trust
LXP
$3.59B
| $26.3M | 0.01% |
486,286
| – | – |
|
1125
Bio-Rad Laboratories Class A
BIO
$10.1B
| $26.2M | 0.01% |
143,838
-24,824
| -15% | -$4.23M |
|
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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.