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 | |
|---|---|---|---|---|---|---|
|
GZT
1401
DELISTED
Gazit-globe Ltd
GZT
| $13.6M | 0.01% |
1,488,400
| – | – |
|
1402
Expro Ltd
XPRO
$1.87B
| $13.6M | 0.01% |
137,066
| – | – |
|
|
FLTX
1403
DELISTED
Fleetmatics Group PLC
FLTX
| $13.5M | 0.01% |
332,822
-24,060
| -7% | -$996K |
|
1404
Ethan Allen Interiors
ETD
$548M
| $13.5M | 0.01% |
425,364
+25,000
| +6% | +$698K |
|
|
FINL
1405
DELISTED
Finish Line
FINL
| $13.5M | 0.01% |
641,197
+235,419
| +58% | +$4.36M |
|
|
MNDT
1406
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $13.5M | 0.01% |
751,776
+588,590
| +361% | +$9.59M |
|
1407
BHP
BHP
$217B
| $13.5M | 0.01% |
585,106
| – | – |
|
|
DF
1408
DELISTED
Dean Foods Company
DF
| $13.4M | 0.01% |
776,175
-92,953
| -11% | -$1.76M |
|
1409
Chemours
CC
$2.22B
| $13.4M | 0.01% |
1,917,285
-383,863
| -17% | -$1.93M |
|
1410
Progress Software
PRGS
$1.74B
| $13.4M | 0.01% |
556,379
| – | – |
|
|
CCMP
1411
DELISTED
CMC Materials, Inc. Common Stock
CCMP
| $13.4M | 0.01% |
327,683
| – | – |
|
|
EFII
1412
DELISTED
Electronics for Imaging
EFII
| $13.4M | 0.01% |
315,870
| – | – |
|
1413
Hilltop Holdings
HTH
$2.24B
| $13.4M | 0.01% |
707,616
+69,718
| +11% | +$1.18M |
|
|
GOV
1414
DELISTED
Government Properties Income Trust
GOV
| $13.4M | 0.01% |
748,482
| – | – |
|
1415
Korn Ferry
KFY
$4.26B
| $13.4M | 0.01% |
472,117
| – | – |
|
1416
SouthState Bank Corp
SSB
$10.2B
| $13.3M | 0.01% |
207,611
| – | – |
|
1417
Employers Holdings
EIG
$895M
| $13.3M | 0.01% |
472,847
+43,500
| +10% | +$1.14M |
|
|
RPT
1418
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $13.3M | 0.01% |
736,667
| – | – |
|
1419
America Movil
AMX
$69.3B
| $13.3M | 0.01% |
854,692
+67,797
| +9% | +$937K |
|
|
AEGN
1420
DELISTED
Aegion Corp
AEGN
| $13.1M | 0.01% |
621,887
+25,000
| +4% | +$467K |
|
|
IMGN
1421
DELISTED
Immunogen Inc
IMGN
| $13M | 0.01% |
1,530,772
| – | – |
|
|
HRG
1422
DELISTED
HRG Group, Inc.
HRG
| $13M | 0.01% |
935,430
+207,245
| +28% | +$2.51M |
|
1423
ICU Medical
ICUI
$3.96B
| $13M | 0.01% |
125,117
+11,000
| +10% | +$1.05M |
|
|
SJI
1424
DELISTED
South Jersey Industries, Inc.
SJI
| $13M | 0.01% |
457,173
-45,799
| -9% | -$1.17M |
|
1425
American States Water
AWR
$3.45B
| $12.9M | 0.01% |
328,905
-74,683
| -19% | -$3.16M |
|
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.