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 | 19.74% |
| 2 | Technology | 14.07% |
| 3 | Healthcare | 13.06% |
| 4 | Industrials | 9.44% |
| 5 | Consumer Discretionary | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Colgate-Palmolive
CL
$73.9B
| $456M | 0.2% |
6,960,967
-145,987
| -2% | -$10M |
|
102
Vornado Realty Trust
VNO
$7.8B
| $447M | 0.2% |
5,303,453
| – | – |
|
|
ESRX
103
DELISTED
Express Scripts Holding Company
ESRX
| $440M | 0.19% |
6,399,265
+159,248
| +3% | +$11.4M |
|
104
Aon
AON
$79.9B
| $437M | 0.19% |
3,920,128
+93,241
| +2% | +$10.4M |
|
105
Johnson Controls International
JCI
$84.2B
| $435M | 0.19% |
10,551,649
+623,210
| +6% | +$27.3M |
|
|
AET
106
DELISTED
Aetna Inc
AET
| $434M | 0.19% |
3,496,972
+66,284
| +2% | +$7.94M |
|
107
Bank of Montreal
BMO
$124B
| $427M | 0.19% |
5,924,580
+3,673
| +0.1% | +$245K |
|
108
Federal Realty Investment Trust
FRT
$10.9B
| $425M | 0.19% |
2,992,470
-7,158
| -0.2% | -$1.02M |
|
109
Charter Communications
CHTR
$17B
| $425M | 0.19% |
1,476,251
-132,063
| -8% | -$35.6M |
|
110
Caterpillar
CAT
$366B
| $414M | 0.18% |
4,467,978
-322,578
| -7% | -$29.2M |
|
111
Adobe
ADBE
$104B
| $411M | 0.18% |
3,993,282
+52,340
| +1% | +$5.54M |
|
112
Baxter International
BAX
$12.8B
| $409M | 0.18% |
9,223,176
+123,809
| +1% | +$5.72M |
|
|
MON
113
DELISTED
Monsanto Co
MON
| $407M | 0.18% |
3,865,930
-50,105
| -1% | -$5.14M |
|
114
Lincoln National
LNC
$8.11B
| $407M | 0.18% |
6,136,529
-1,450,000
| -19% | -$84.3M |
|
115
Goldman Sachs
GS
$292B
| $389M | 0.17% |
1,626,145
-30,809
| -2% | -$6.26M |
|
116
Southern Company
SO
$109B
| $388M | 0.17% |
7,887,587
-514,713
| -6% | -$25.3M |
|
117
TC Energy
TRP
$70.6B
| $384M | 0.17% |
8,497,982
+1,908,353
| +29% | +$86.7M |
|
118
Salesforce
CRM
$152B
| $383M | 0.17% |
5,591,621
+436,296
| +8% | +$31.7M |
|
119
Lear
LEA
$7.44B
| $382M | 0.17% |
2,887,448
+1,312,100
| +83% | +$165M |
|
120
Elevance Health
ELV
$83.1B
| $377M | 0.16% |
2,621,439
+81,419
| +3% | +$10.9M |
|
121
Hewlett Packard
HPE
$60.2B
| $373M | 0.16% |
27,712,851
+1,487,139
| +6% | +$19.9M |
|
122
Valero Energy
VLO
$90.2B
| $371M | 0.16% |
5,423,622
+19,161
| +0.4% | +$1.18M |
|
123
Canadian National Railway
CNI
$78.2B
| $370M | 0.16% |
5,493,936
+795,512
| +17% | +$52.5M |
|
124
Kinder Morgan
KMI
$71.2B
| $366M | 0.16% |
17,656,648
+350,399
| +2% | +$7.41M |
|
125
Netflix
NFLX
$300B
| $357M | 0.16% |
28,859,680
+2,029,630
| +8% | +$24.1M |
|
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.