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 | |
|---|---|---|---|---|---|---|
1401
America Movil
AMX
$76.1B
| $13M | 0.01% |
786,895
+242,392
| +45% | +$4.55M |
|
1402
Zillow
ZG
$7.94B
| $12.9M | 0.01% |
450,527
-783,730
| -63% | -$21M |
|
1403
Credit Acceptance
CACC
$5.95B
| $12.9M | 0.01% |
65,690
-10,130
| -13% | -$2.22M |
|
|
CSG
1404
DELISTED
CHAMBERS STR PPTYS COM
CSG
| $12.9M | 0.01% |
1,990,427
| – | – |
|
1405
XPO
XPO
$23.5B
| $12.9M | 0.01% |
1,566,335
+303,912
| +24% | +$3.99M |
|
1406
Colliers International
CIGI
$5.04B
| $12.9M | 0.01% |
319,184
+55,247
| +21% | +$2.37M |
|
1407
Columbia Sportswear
COLM
$3.04B
| $12.9M | 0.01% |
219,273
-45,434
| -17% | -$2.84M |
|
|
KAMN
1408
DELISTED
Kaman Corp
KAMN
| $12.9M | 0.01% |
359,496
+62,552
| +21% | +$2.45M |
|
1409
Oxford Industries
OXM
$566M
| $12.9M | 0.01% |
174,369
+46,546
| +36% | +$3.86M |
|
|
RYL
1410
DELISTED
RYLAND GROUP INC
RYL
| $12.9M | 0.01% |
315,056
+50,580
| +19% | +$2.25M |
|
1411
Liberty Latin America Class C
LILAK
$1.63B
| $12.9M | 0.01% |
+438,608
| New | +$14.9M |
|
1412
Insperity
NSP
$1.93B
| $12.8M | 0.01% |
584,686
| – | – |
|
|
PEI
1413
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
| $12.8M | 0.01% |
43,146
| – | – |
|
1414
ATI
ATI
$25.6B
| $12.8M | 0.01% |
903,468
+49,579
| +6% | +$1.03M |
|
1415
Five Below
FIVE
$12B
| $12.7M | 0.01% |
379,149
-29,827
| -7% | -$1.08M |
|
1416
Plexus
PLXS
$6.72B
| $12.7M | 0.01% |
329,997
+63,701
| +24% | +$2.44M |
|
|
SJI
1417
DELISTED
South Jersey Industries, Inc.
SJI
| $12.7M | 0.01% |
502,972
-100
| -0% | -$2.44K |
|
|
CCMP
1418
DELISTED
CMC Materials, Inc. Common Stock
CCMP
| $12.7M | 0.01% |
327,683
| – | – |
|
|
FTD
1419
DELISTED
FTD Companies, Inc. Common Stock
FTD
| $12.7M | 0.01% |
424,804
-102,415
| -19% | -$3.02M |
|
|
PKY
1420
DELISTED
Parkway, Inc.
PKY
| $12.6M | 0.01% |
812,750
| – | – |
|
1421
Element Solutions
ESI
$8.95B
| $12.6M | 0.01% |
999,024
+215,734
| +28% | +$4.44M |
|
|
AMAG
1422
DELISTED
AMAG Pharmaceuticals
AMAG
| $12.6M | 0.01% |
317,567
+287,567
| +959% | +$17.8M |
|
1423
Expro Ltd
XPRO
$1.79B
| $12.6M | 0.01% |
137,066
+47,161
| +52% | +$4.6M |
|
|
IPCC
1424
DELISTED
Infinity Property & Casualty C
IPCC
| $12.6M | 0.01% |
156,316
| – | – |
|
|
SWFT
1425
DELISTED
Swift Transportation Company
SWFT
| $12.6M | 0.01% |
836,571
| – | – |
|
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.