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 | |
|---|---|---|---|---|---|---|
1376
White Mountains Insurance
WTM
$5.2B
| $13.7M | 0.01% |
18,360
-9,780
| -35% | -$7.04M |
|
|
EDR
1377
DELISTED
Education Realty Trust Inc
EDR
| $13.7M | 0.01% |
415,960
| – | – |
|
|
CSGS
1378
DELISTED
CSG Systems International
CSGS
| $13.7M | 0.01% |
444,178
-2,499
| -0.6% | -$77.4K |
|
|
BGG
1379
DELISTED
Briggs & Stratton Corp.
BGG
| $13.7M | 0.01% |
708,181
+271,518
| +62% | +$5.2M |
|
|
EFII
1380
DELISTED
Electronics for Imaging
EFII
| $13.7M | 0.01% |
315,870
-35,158
| -10% | -$1.56M |
|
|
NAVG
1381
DELISTED
Navigators Group Inc
NAVG
| $13.7M | 0.01% |
350,122
+69,400
| +25% | +$2.7M |
|
1382
BOK Financial
BOKF
$8.58B
| $13.6M | 0.01% |
210,730
| – | – |
|
|
PEGI
1383
DELISTED
Pattern Energy Group Inc. Class A
PEGI
| $13.6M | 0.01% |
712,216
+168,272
| +31% | +$3.97M |
|
|
RPT
1384
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $13.6M | 0.01% |
905,516
+199,900
| +28% | +$3.23M |
|
1385
Huron Consulting
HURN
$2.41B
| $13.6M | 0.01% |
216,930
| – | – |
|
1386
Green Dot
GDOT
$743M
| $13.5M | 0.01% |
767,761
+181,608
| +31% | +$3.37M |
|
|
SNBR
1387
DELISTED
Sleep Number
SNBR
| $13.5M | 0.01% |
617,460
+116,191
| +23% | +$2.97M |
|
1388
TSMC
TSM
$2.1T
| $13.5M | 0.01% |
649,157
| – | – |
|
1389
IMAX
IMAX
$2.62B
| $13.4M | 0.01% |
396,558
| – | – |
|
1390
Interface
TILE
$1.99B
| $13.4M | 0.01% |
594,975
+160,241
| +37% | +$3.94M |
|
|
COHR
1391
DELISTED
Coherent Inc
COHR
| $13.3M | 0.01% |
243,294
| – | – |
|
1392
Benchmark Electronics
BHE
$2.87B
| $13.2M | 0.01% |
607,623
| – | – |
|
|
FNGN
1393
DELISTED
Financial Engines, Inc.
FNGN
| $13.2M | 0.01% |
448,576
| – | – |
|
1394
Ligand Pharmaceuticals
LGND
$5.76B
| $13.2M | 0.01% |
247,126
+147,072
| +147% | +$8.92M |
|
|
HTS
1395
DELISTED
HATTERAS FINANCIAL CORP
HTS
| $13.2M | 0.01% |
869,865
| – | – |
|
1396
RPC Inc
RES
$1.24B
| $13.2M | 0.01% |
1,486,969
+457,190
| +44% | +$5.22M |
|
|
AMED
1397
DELISTED
Amedisys
AMED
| $13.1M | 0.01% |
344,881
+114,600
| +50% | +$4.83M |
|
1398
Entegris
ENTG
$18.1B
| $13.1M | 0.01% |
990,901
+13,000
| +1% | +$179K |
|
|
MDCO
1399
DELISTED
Medicines Co
MDCO
| $13.1M | 0.01% |
344,184
-28,398
| -8% | -$997K |
|
|
GES
1400
DELISTED
Guess Inc
GES
| $13M | 0.01% |
610,844
+127,200
| +26% | +$2.75M |
|
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.