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 |
Alphabet (Google) Class A
GOOGL
|
+$410M |
| 2 |
Ameriprise Financial
AMP
|
+$222M |
| 3 |
UBS Group
UBS
|
+$218M |
| 4 |
Bank of America
BAC
|
+$214M |
| 5 |
Verizon
VZ
|
+$213M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$639M |
| 2 |
Prologis
PLD
|
+$395M |
| 3 |
BRCM
BROADCOM CORP CL-A
BRCM
|
+$291M |
| 4 |
Macerich
MAC
|
+$287M |
| 5 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$268M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.36% |
| 2 | Technology | 14.39% |
| 3 | Healthcare | 14.03% |
| 4 | Consumer Discretionary | 10.04% |
| 5 | Communication Services | 9.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1301
Churchill Downs
CHDN
$5.76B
| $15.9M | 0.01% |
646,620
| – | – |
|
|
CTLT
1302
DELISTED
CATALENT, INC.
CTLT
| $15.9M | 0.01% |
595,948
+120,360
| +25% | +$2.93M |
|
|
EFOR
1303
Everforth Inc
EFOR
$1.33B
| $15.9M | 0.01% |
430,344
| – | – |
|
|
USG
1304
DELISTED
Usg
USG
| $15.9M | 0.01% |
640,242
+87,252
| +16% | +$1.81M |
|
1305
G-III Apparel Group
GIII
$1.21B
| $15.9M | 0.01% |
324,247
-53,047
| -14% | -$2.57M |
|
|
AAT
1306
American Assets Trust
AAT
$1.34B
| $15.8M | 0.01% |
396,555
| – | – |
|
|
SOHU
1307
Sohu.com
SOHU
$355M
| $15.8M | 0.01% |
319,137
+100,200
| +46% | +$4.85M |
|
1308
Brink's
BCO
$4.47B
| $15.8M | 0.01% |
469,246
+100,000
| +27% | +$2.94M |
|
1309
News Corp Class B
NWS
$17.9B
| $15.8M | 0.01% |
1,188,858
+254,163
| +27% | +$3.15M |
|
|
SIR
1310
DELISTED
SELECT INCOME REIT
SIR
| $15.7M | 0.01% |
1,550,319
| – | – |
|
1311
Choice Hotels
CHH
$4.42B
| $15.7M | 0.01% |
289,746
| – | – |
|
|
HAWK
1312
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| $15.6M | 0.01% |
455,214
| – | – |
|
|
GK
1313
DELISTED
G&K Services Inc
GK
| $15.6M | 0.01% |
212,989
| – | – |
|
1314
AMC Global Media
AMCX
$501M
| $15.6M | 0.01% |
240,181
+139,536
| +139% | +$9.55M |
|
1315
Brady Corp
BRC
$3.97B
| $15.6M | 0.01% |
580,647
| – | – |
|
1316
Cato Corp
CATO
$46.6M
| $15.5M | 0.01% |
403,341
| – | – |
|
1317
Acco Brands
ACCO
$392M
| $15.5M | 0.01% |
1,725,436
+34,800
| +2% | +$243K |
|
1318
Stepan Co
SCL
$1.4B
| $15.5M | 0.01% |
280,194
| – | – |
|
|
LGF
1319
DELISTED
Lions Gate Entertainment
LGF
| $15.5M | 0.01% |
708,148
-67,771
| -9% | -$1.62M |
|
1320
Horace Mann Educators
HMN
$2B
| $15.4M | 0.01% |
486,567
+16,600
| +4% | +$509K |
|
1321
Zillow
Z
$7.04B
| $15.4M | 0.01% |
649,604
| – | – |
|
1322
Vishay Intertechnology
VSH
$4.8B
| $15.4M | 0.01% |
1,261,590
-161,921
| -11% | -$1.86M |
|
|
SFR
1323
DELISTED
Starwood Waypoint Homes
SFR
| $15.4M | 0.01% |
620,399
+291,287
| +89% | +$6.52M |
|
|
KAMN
1324
DELISTED
Kaman Corp
KAMN
| $15.3M | 0.01% |
359,496
| – | – |
|
1325
Groupon
GRPN
$786M
| $15.3M | 0.01% |
192,004
-35,205
| -15% | -$2.43M |
|
Similar funds
Norges Bank's Q1 2016 Portfolio in Review
As of Q1 2016, Norges Bank held 2,266 positions worth $203B, up 1.1% from $201B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q1 2016 filing shows 36 new, 739 increased, 656 reduced and 78 closed positions. Its largest new stake was Ferrari: 2,593,904 shares worth $108M. The largest sale was Comcast, an estimated $639M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q1 2016 buy was Ferrari: 2,593,904 shares worth $108M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2016, an estimated $410M increase.
- Norges Bank's biggest Q1 2016 reduction was Comcast, cutting an estimated $639M.
- Norges Bank fully exited BROADCOM CORP CL-A in Q1 2016, selling an estimated $291M.
- Norges Bank's ten largest holdings make up 15% of its $203B portfolio in Q1 2016.
- Norges Bank opened 36 new positions and closed 78 in Q1 2016.
- Norges Bank's portfolio value rose 1.1% quarter-over-quarter to $203B.
Based on Norges Bank's 13F filing for Q1 2016, filed 10 May 2016.