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 | |
|---|---|---|---|---|---|---|
|
NCI
1351
DELISTED
Navigant Consulting, Inc.
NCI
| $14.7M | 0.01% |
929,022
| – | – |
|
|
TBI
1352
Trueblue
TBI
$276M
| $14.7M | 0.01% |
560,221
| – | – |
|
1353
Old National Bancorp
ONB
$9.61B
| $14.6M | 0.01% |
1,198,821
+25,000
| +2% | +$295K |
|
|
CHSP
1354
DELISTED
Chesapeake Lodging Trust
CHSP
| $14.6M | 0.01% |
552,178
| – | – |
|
|
DCH
1355
Dauch Corp
DCH
$1.42B
| $14.6M | 0.01% |
949,133
| – | – |
|
1356
Huron Consulting
HURN
$2.46B
| $14.6M | 0.01% |
250,915
| – | – |
|
|
CAB
1357
DELISTED
Cabela's Inc
CAB
| $14.5M | 0.01% |
298,599
-20,725
| -6% | -$931K |
|
|
AEL
1358
DELISTED
American Equity Investment Life Holding Company
AEL
| $14.5M | 0.01% |
864,722
| – | – |
|
|
DOOR
1359
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $14.5M | 0.01% |
221,531
+41,364
| +23% | +$2.34M |
|
1360
Dine Brands
DIN
$350M
| $14.5M | 0.01% |
155,271
+18,800
| +14% | +$1.65M |
|
|
SCAI
1361
DELISTED
Surgical Care Affiliates, Inc.
SCAI
| $14.5M | 0.01% |
313,354
+135,054
| +76% | +$5.66M |
|
1362
United Parks & Resorts
PRKS
$1.64B
| $14.5M | 0.01% |
688,008
-237,727
| -26% | -$4.44M |
|
|
GTLS
1363
DELISTED
Chart Industries
GTLS
| $14.5M | 0.01% |
666,243
+168,900
| +34% | +$3.02M |
|
1364
Innospec
IOSP
$2.29B
| $14.4M | 0.01% |
333,063
| – | – |
|
|
RGC
1365
DELISTED
Regal Entertainment Group
RGC
| $14.4M | 0.01% |
682,440
-201,274
| -23% | -$3.84M |
|
1366
GATX Corp
GATX
$6.25B
| $14.4M | 0.01% |
303,438
-10,000
| -3% | -$426K |
|
1367
United Fire Group
UFCS
$1.39B
| $14.4M | 0.01% |
327,758
| – | – |
|
|
VRNT
1368
DELISTED
Verint Systems
VRNT
| $14.3M | 0.01% |
843,071
+226,330
| +37% | +$4.12M |
|
|
SCS
1369
DELISTED
Steelcase
SCS
| $14.3M | 0.01% |
959,621
| – | – |
|
|
KG
1370
Kestrel Group
KG
$47.3M
| $14.3M | 0.01% |
55,284
-1,500
| -3% | -$389K |
|
1371
International Bancshares
IBOC
$4.38B
| $14.3M | 0.01% |
580,041
+18,585
| +3% | +$434K |
|
1372
Texas Roadhouse
TXRH
$11.3B
| $14.3M | 0.01% |
327,541
-55,201
| -14% | -$2.14M |
|
1373
La-Z-Boy
LZB
$1.21B
| $14.3M | 0.01% |
533,696
| – | – |
|
1374
Hope Bancorp
HOPE
$1.77B
| $14.3M | 0.01% |
938,485
| – | – |
|
1375
AZZ Inc
AZZ
$3.97B
| $14.2M | 0.01% |
251,718
| – | – |
|
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.