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 |
Broadcom
AVGO
|
+$510M |
| 2 |
Aptiv
APTV
|
+$358M |
| 3 |
LyondellBasell Industries
LYB
|
+$345M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$290M |
| 5 |
NXP Semiconductors
NXPI
|
+$195M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EMC
EMC CORPORATION
EMC
|
+$479M |
| 2 |
Duke Energy
DUK
|
+$392M |
| 3 |
Verizon
VZ
|
+$261M |
| 4 |
Crown Castle
CCI
|
+$186M |
| 5 |
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
|
+$167M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.63% |
| 2 | Technology | 14.57% |
| 3 | Healthcare | 13.9% |
| 4 | Consumer Discretionary | 9.72% |
| 5 | Industrials | 8.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Baxter International
BAX
$13.5B
| $414M | 0.2% |
9,099,367
+190,062
| +2% | +$8.96M |
|
102
ConocoPhillips
COP
$145B
| $412M | 0.19% |
9,918,587
+23,083
| +0.2% | +$959K |
|
103
Southern Company
SO
$109B
| $412M | 0.19% |
8,402,300
+561,511
| +7% | +$29.6M |
|
104
Aon
AON
$77.2B
| $411M | 0.19% |
3,826,887
-323,954
| -8% | -$35.7M |
|
105
Illinois Tool Works
ITW
$82.5B
| $411M | 0.19% |
3,589,106
| – | – |
|
106
Target
TGT
$65.4B
| $409M | 0.19% |
6,241,428
-5,742
| -0.1% | -$412K |
|
107
Adobe
ADBE
$99.3B
| $409M | 0.19% |
3,940,942
+192,842
| +5% | +$19.3M |
|
108
Caterpillar
CAT
$378B
| $406M | 0.19% |
4,790,556
+625,619
| +15% | +$51.2M |
|
109
Kinder Morgan
KMI
$71.3B
| $382M | 0.18% |
17,306,249
+555,765
| +3% | +$11.8M |
|
|
MON
110
DELISTED
Monsanto Co
MON
| $382M | 0.18% |
3,916,035
-600,000
| -13% | -$62.9M |
|
|
111
NXP Semiconductors
NXPI
$59.8B
| $381M | 0.18% |
4,299,472
+2,305,643
| +116% | +$195M |
|
|
AET
112
DELISTED
Aetna Inc
AET
| $378M | 0.18% |
3,430,688
| – | – |
|
113
Halliburton
HAL
$26.9B
| $374M | 0.18% |
8,729,449
+45,404
| +0.5% | +$1.98M |
|
114
Ecolab
ECL
$78.3B
| $372M | 0.18% |
3,197,884
+24,267
| +0.8% | +$2.93M |
|
115
PNC Financial Services
PNC
$99.7B
| $370M | 0.18% |
4,303,935
-1,011,997
| -19% | -$86.9M |
|
116
Bank of Montreal
BMO
$126B
| $370M | 0.17% |
5,920,907
-165,186
| -3% | -$10.7M |
|
117
Salesforce
CRM
$150B
| $351M | 0.17% |
5,155,325
+128,019
| +3% | +$9.98M |
|
118
Yum! Brands
YUM
$42.3B
| $345M | 0.16% |
5,533,039
-21,696
| -0.4% | -$1.38M |
|
119
Lincoln National
LNC
$8.76B
| $340M | 0.16% |
7,586,529
+2,546,513
| +51% | +$114M |
|
120
Kimberly-Clark
KMB
$36.4B
| $338M | 0.16% |
2,804,031
-79,274
| -3% | -$10.3M |
|
121
Enbridge
ENB
$120B
| $332M | 0.16% |
7,929,725
-22,059
| -0.3% | -$925K |
|
122
T-Mobile US
TMUS
$183B
| $332M | 0.16% |
7,430,388
+1,856,432
| +33% | +$85.2M |
|
123
Hewlett Packard
HPE
$63.6B
| $331M | 0.16% |
26,225,712
+269,217
| +1% | +$3.32M |
|
124
Zimmer Biomet
ZBH
$18.1B
| $327M | 0.15% |
2,715,016
+43,144
| +2% | +$5.33M |
|
125
PPG Industries
PPG
$24.7B
| $327M | 0.15% |
3,309,376
-77,723
| -2% | -$8.15M |
|
Similar funds
Norges Bank's Q3 2016 Portfolio in Review
As of Q3 2016, Norges Bank held 2,233 positions worth $212B, up 0.53% from $210B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q3 2016 filing shows 58 new, 931 increased, 669 reduced and 85 closed positions. Its largest new stake was Fortive: 4,010,057 shares worth $123M. The largest sale was EMC CORPORATION, an estimated $479M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 17% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q3 2016 buy was Fortive: 4,010,057 shares worth $123M.
- Norges Bank added most to Broadcom in Q3 2016, an estimated $510M increase.
- Norges Bank's biggest Q3 2016 reduction was Verizon, cutting an estimated $261M.
- Norges Bank fully exited EMC CORPORATION in Q3 2016, selling an estimated $479M.
- Norges Bank's ten largest holdings make up 14% of its $212B portfolio in Q3 2016.
- Norges Bank opened 58 new positions and closed 85 in Q3 2016.
- Norges Bank's portfolio value rose 0.53% quarter-over-quarter to $212B.
Based on Norges Bank's 13F filing for Q3 2016, filed 14 Nov 2016.