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 | |
|---|---|---|---|---|---|---|
1151
Monro
MNRO
$383M
| $19.3M | 0.01% |
285,498
-17,528
| -6% | -$1.12M |
|
|
MASI
1152
DELISTED
Masimo
MASI
| $19.2M | 0.01% |
497,878
| – | – |
|
1153
GSK
GSK
$104B
| $19.2M | 0.01% |
398,991
-377,761
| -49% | -$19.7M |
|
1154
United Bankshares
UBSI
$6.63B
| $19.1M | 0.01% |
502,063
| – | – |
|
1155
Kennametal
KMT
$2.59B
| $19.1M | 0.01% |
766,085
+50,000
| +7% | +$1.49M |
|
1156
Littelfuse
LFUS
$11.2B
| $19.1M | 0.01% |
209,107
| – | – |
|
1157
Diamondrock Hospitality Co
DRH
$2.71B
| $19M | 0.01% |
1,723,475
| – | – |
|
|
TGI
1158
DELISTED
Triumph Group
TGI
| $19M | 0.01% |
451,192
| – | – |
|
|
MNTA
1159
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $19M | 0.01% |
1,155,882
| – | – |
|
|
DCH
1160
Dauch Corp
DCH
$1.34B
| $18.9M | 0.01% |
949,133
+1,194
| +0.1% | +$24.1K |
|
1161
Deckers Outdoor
DECK
$13.2B
| $18.9M | 0.01% |
1,954,092
+363,864
| +23% | +$4.06M |
|
|
IPXL
1162
DELISTED
Impax Laboratories, Inc.
IPXL
| $18.8M | 0.01% |
534,424
-40,574
| -7% | -$1.83M |
|
1163
Papa John's
PZZA
$984M
| $18.7M | 0.01% |
272,463
-33,355
| -11% | -$2.4M |
|
1164
Melco Resorts & Entertainment
MLCO
$2.22B
| $18.7M | 0.01% |
1,355,624
| – | – |
|
1165
World Kinect Corp
WKC
$2.04B
| $18.6M | 0.01% |
520,689
| – | – |
|
|
RDC
1166
DELISTED
Rowan Companies Plc
RDC
| $18.6M | 0.01% |
1,151,149
-27,609
| -2% | -$481K |
|
1167
RLI Corp
RLI
$5.62B
| $18.6M | 0.01% |
694,398
-62,806
| -8% | -$1.7M |
|
|
MBFI
1168
DELISTED
MB Financial Corp
MBFI
| $18.6M | 0.01% |
568,359
+94,017
| +20% | +$3.14M |
|
1169
TD Synnex
SNX
$20.4B
| $18.5M | 0.01% |
435,512
+83,572
| +24% | +$3.26M |
|
1170
Glacier Bancorp
GBCI
$6.42B
| $18.5M | 0.01% |
701,287
+105,149
| +18% | +$2.89M |
|
1171
Abercrombie & Fitch
ANF
$4.42B
| $18.5M | 0.01% |
872,080
+304,909
| +54% | +$6.2M |
|
1172
Sinclair Inc
SBGI
$992M
| $18.4M | 0.01% |
728,073
-26,100
| -3% | -$719K |
|
1173
Unifirst Corp
UNF
$5.3B
| $18.4M | 0.01% |
172,228
+12,408
| +8% | +$1.38M |
|
1174
Telephone and Data Systems
TDS
$3.82B
| $18.4M | 0.01% |
736,201
+75,875
| +11% | +$2.13M |
|
1175
Opko Health
OPK
$985M
| $18.4M | 0.01% |
2,182,937
+495,750
| +29% | +$6.56M |
|
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.