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 | |
|---|---|---|---|---|---|---|
1351
Invesco Mortgage Capital
IVR
$759M
| $14M | 0.01% |
114,761
| – | – |
|
1352
Vishay Intertechnology
VSH
$5.25B
| $14M | 0.01% |
1,448,511
+272,342
| +23% | +$2.89M |
|
1353
RH
RH
$3.13B
| $14M | 0.01% |
150,301
-14,289
| -9% | -$1.41M |
|
|
FLTX
1354
DELISTED
Fleetmatics Group PLC
FLTX
| $14M | 0.01% |
284,978
-59,608
| -17% | -$2.84M |
|
1355
Caleres
CAL
$431M
| $14M | 0.01% |
457,180
-66,125
| -13% | -$2.13M |
|
1356
CONMED
CNMD
$1.39B
| $14M | 0.01% |
292,333
| – | – |
|
|
MW
1357
DELISTED
THE MENS WAREHOUSE INC
MW
| $14M | 0.01% |
328,188
+52,761
| +19% | +$2.92M |
|
1358
Seaboard Corp
SEB
$4.23B
| $14M | 0.01% |
4,532
| – | – |
|
|
LOGM
1359
DELISTED
LogMein, Inc.
LOGM
| $13.9M | 0.01% |
204,390
| – | – |
|
1360
Groupon
GRPN
$1.05B
| $13.9M | 0.01% |
213,473
| – | – |
|
1361
Olin
OLN
$2.11B
| $13.9M | 0.01% |
827,453
| – | – |
|
|
LTRPA
1362
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $13.9M | 0.01% |
626,309
-76,110
| -11% | -$2.11M |
|
1363
Gentherm
THRM
$1.25B
| $13.9M | 0.01% |
308,860
+102,733
| +50% | +$4.92M |
|
1364
Boyd Gaming
BYD
$6.18B
| $13.9M | 0.01% |
851,070
| – | – |
|
1365
Belden
BDC
$4.85B
| $13.9M | 0.01% |
296,824
| – | – |
|
1366
GATX Corp
GATX
$6.35B
| $13.8M | 0.01% |
313,438
+31,144
| +11% | +$1.54M |
|
|
MRC
1367
DELISTED
MRC Global
MRC
| $13.8M | 0.01% |
1,240,557
+280,656
| +29% | +$3.67M |
|
1368
Kosmos Energy
KOS
$1.6B
| $13.8M | 0.01% |
2,477,916
+352,508
| +17% | +$2.44M |
|
1369
Choice Hotels
CHH
$5.07B
| $13.8M | 0.01% |
289,746
| – | – |
|
|
ERF
1370
DELISTED
Enerplus Corporation
ERF
| $13.8M | 0.01% |
2,846,128
+344,620
| +14% | +$2.19M |
|
|
TSG
1371
DELISTED
The Stars Group Inc.
TSG
| $13.8M | 0.01% |
759,207
+69,700
| +10% | +$1.59M |
|
1372
Silicon Laboratories
SLAB
$7.17B
| $13.8M | 0.01% |
331,091
| – | – |
|
|
JCP
1373
DELISTED
J.C. Penney Company, Inc.
JCP
| $13.7M | 0.01% |
1,479,845
-438,624
| -23% | -$3.88M |
|
1374
Cato Corp
CATO
$68.3M
| $13.7M | 0.01% |
403,341
| – | – |
|
|
MLNX
1375
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $13.7M | 0.01% |
363,111
| – | – |
|
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.