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 | |
|---|---|---|---|---|---|---|
1301
Burlington
BURL
$23.2B
| $15.1M | 0.01% |
296,662
+125,410
| +73% | +$6.7M |
|
|
JOY
1302
DELISTED
Joy Global Inc
JOY
| $15.1M | 0.01% |
1,012,548
-107,772
| -10% | -$2.61M |
|
1303
TFS Financial
TFSL
$5.16B
| $15.1M | 0.01% |
876,250
-87,925
| -9% | -$1.49M |
|
|
ROIC
1304
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $15M | 0.01% |
909,434
| – | – |
|
1305
Hyatt Hotels
H
$16.4B
| $15M | 0.01% |
318,630
| – | – |
|
|
OMG
1306
DELISTED
OM GROUP INC.
OMG
| $15M | 0.01% |
455,676
-40,000
| -8% | -$1.35M |
|
1307
ABM Industries
ABM
$2.81B
| $15M | 0.01% |
547,806
+59,472
| +12% | +$1.88M |
|
|
KITE
1308
DELISTED
Kite Pharma, Inc.
KITE
| $14.9M | 0.01% |
+268,146
| New | +$16.9M |
|
|
SEMG
1309
DELISTED
SEMGROUP CORPORATION
SEMG
| $14.9M | 0.01% |
345,156
-55,787
| -14% | -$3.38M |
|
1310
EastGroup Properties
EGP
$11.2B
| $14.9M | 0.01% |
274,178
| – | – |
|
|
DFT
1311
DELISTED
DuPont Fabros Technology Inc.
DFT
| $14.8M | 0.01% |
573,678
-42,022
| -7% | -$1.19M |
|
1312
Halozyme
HALO
$9.79B
| $14.8M | 0.01% |
1,105,337
+310,585
| +39% | +$6.24M |
|
1313
La-Z-Boy
LZB
$1.58B
| $14.8M | 0.01% |
558,696
-200
| -0% | -$5.31K |
|
|
NCI
1314
DELISTED
Navigant Consulting, Inc.
NCI
| $14.8M | 0.01% |
929,022
| – | – |
|
|
SYKE
1315
DELISTED
SYKES Enterprises Inc
SYKE
| $14.8M | 0.01% |
579,434
| – | – |
|
1316
OSI Systems
OSIS
$3.65B
| $14.7M | 0.01% |
191,125
| – | – |
|
|
IMGN
1317
DELISTED
Immunogen Inc
IMGN
| $14.7M | 0.01% |
1,530,772
-109,617
| -7% | -$1.6M |
|
|
EXPR
1318
DELISTED
Express, Inc.
EXPR
| $14.7M | 0.01% |
41,109
-2,971
| -7% | -$1.12M |
|
1319
Evertec
EVTC
$1.88B
| $14.7M | 0.01% |
812,740
+185,118
| +29% | +$3.5M |
|
|
NYRT
1320
DELISTED
New York REIT, Inc.
NYRT
| $14.7M | 0.01% |
145,944
| – | – |
|
1321
Zions Bancorporation
ZION
$10.2B
| $14.7M | 0.01% |
532,117
-631,490
| -54% | -$18.7M |
|
|
ELME
1322
Elme Communities
ELME
$143M
| $14.6M | 0.01% |
587,598
| – | – |
|
1323
Globus Medical
GMED
$10.7B
| $14.6M | 0.01% |
707,599
-27,400
| -4% | -$694K |
|
1324
Nexstar Media Group
NXST
$5.82B
| $14.6M | 0.01% |
308,454
+70,363
| +30% | +$3.57M |
|
1325
TransAlta
TAC
$3.95B
| $14.6M | 0.01% |
3,157,381
+274,046
| +10% | +$1.56M |
|
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.