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 | 19.93% |
| 2 | Technology | 14.43% |
| 3 | Healthcare | 13.4% |
| 4 | Consumer Discretionary | 9.53% |
| 5 | Industrials | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1351
Inogen
INGN
$136M
| $18.8M | 0.01% |
280,079
-17,800
| -6% | -$1.1M |
|
1352
STAG Industrial
STAG
$7.15B
| $18.8M | 0.01% |
787,796
+72,827
| +10% | +$1.68M |
|
1353
Louisiana-Pacific
LPX
$4.57B
| $18.8M | 0.01% |
992,090
+241,642
| +32% | +$4.61M |
|
1354
Sprouts Farmers Market
SFM
$6.63B
| $18.8M | 0.01% |
991,581
-47,545
| -5% | -$999K |
|
1355
TFS Financial
TFSL
$4.71B
| $18.7M | 0.01% |
984,151
+96,596
| +11% | +$1.78M |
|
1356
Genworth Financial
GNW
$3.81B
| $18.7M | 0.01% |
4,915,998
| – | – |
|
1357
Columbia Banking Systems
COLB
$8.41B
| $18.7M | 0.01% |
418,920
+20,000
| +5% | +$755K |
|
1358
Dillards
DDS
$10.1B
| $18.7M | 0.01% |
298,464
+27,785
| +10% | +$1.83M |
|
|
WGL
1359
DELISTED
Wgl Holdings
WGL
| $18.7M | 0.01% |
244,891
-175,498
| -42% | -$11.8M |
|
1360
BHP
BHP
$214B
| $18.7M | 0.01% |
585,106
| – | – |
|
1361
Employers Holdings
EIG
$898M
| $18.7M | 0.01% |
471,081
+34,013
| +8% | +$1.15M |
|
1362
PENN Entertainment
PENN
$2.37B
| $18.7M | 0.01% |
1,352,614
+920,334
| +213% | +$12.5M |
|
|
CRAY
1363
DELISTED
Cray, Inc.
CRAY
| $18.6M | 0.01% |
900,735
-198,900
| -18% | -$4.1M |
|
1364
Nelnet
NNI
$4.56B
| $18.6M | 0.01% |
366,950
+43,047
| +13% | +$1.98M |
|
|
NUAN
1365
DELISTED
Nuance Communications, Inc.
NUAN
| $18.6M | 0.01% |
1,443,211
-308,479
| -18% | -$3.97M |
|
|
ECHO
1366
EchoStar
ECHO
$27.1B
| $18.6M | 0.01% |
446,734
-41,386
| -8% | -$1.64M |
|
|
RDUS
1367
DELISTED
Radius Recycling
RDUS
| $18.6M | 0.01% |
723,161
| – | – |
|
|
HAWK
1368
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| $18.6M | 0.01% |
493,083
+37,418
| +8% | +$1.33M |
|
1369
United Fire Group
UFCS
$1.41B
| $18.6M | 0.01% |
377,408
| – | – |
|
1370
PRA Group
PRAA
$756M
| $18.5M | 0.01% |
474,400
| – | – |
|
1371
Tenet Healthcare
THC
$21.4B
| $18.5M | 0.01% |
1,249,664
+85,821
| +7% | +$1.54M |
|
|
NAVG
1372
DELISTED
Navigators Group Inc
NAVG
| $18.5M | 0.01% |
314,816
-100,000
| -24% | -$5.19M |
|
|
LTC
1373
LTC Properties
LTC
$2.32B
| $18.5M | 0.01% |
394,288
+10,700
| +3% | +$506K |
|
1374
Insight Enterprises
NSIT
$4.85B
| $18.5M | 0.01% |
456,903
-53,154
| -10% | -$1.83M |
|
|
CEB
1375
DELISTED
CEB Inc.
CEB
| $18.4M | 0.01% |
303,833
+25,000
| +9% | +$1.38M |
|
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.