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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
-7.31%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$191B
AUM Growth
-$9.24B
Cap. Flow
+$8.74B
Cap. Flow %
4.58%
Top 10 Hldgs %
14.49%
Holding
2,397
New
123
Increased
836
Reduced
600
Closed
115

Top Buys

Rank Stock Value
1
UBS icon
UBS Group
UBS
+$2.47B
2
AGN
Allergan plc
AGN
+$1.01B
3
MDT icon
Medtronic
MDT
+$862M
4
AMP icon
Ameriprise Financial
AMP
+$592M
5
PYPL icon
PayPal
PYPL
+$354M

Top Sells

Rank Stock Value
1
DTV
DIRECTV COM STK (DE)
DTV
+$372M
2
EBAY icon
eBay
EBAY
+$333M
3
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
+$240M
4
CB icon
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
HTH icon
1451
Hilltop Holdings
HTH
$2.28B
$11.9M 0.01%
603,098
– –
WPX
1452
DELISTED
WPX Energy, Inc.
WPX
$11.9M 0.01%
1,803,186
+115,007
+7% +$962K
AGIO icon
1453
Agios Pharmaceuticals
AGIO
$1.82B
$11.9M 0.01%
169,049
-33,244
-16% -$3.25M
BKU icon
1454
Bankunited
BKU
$3.4B
$11.9M 0.01%
332,683
+84,938
+34% +$3.07M
SLF icon
1455
Sun Life Financial
SLF
$46B
$11.9M 0.01%
370,185
-1,890,000
-84% -$61.3M
BECN
1456
DELISTED
Beacon Roofing Supply, Inc.
BECN
$11.8M 0.01%
364,739
+25,000
+7% +$853K
BP icon
1457
BP
BP
$115B
$11.8M 0.01%
460,736
– –
MTOR
1458
DELISTED
MERITOR, Inc.
MTOR
$11.8M 0.01%
1,111,216
-130,000
-10% -$1.68M
ESNT icon
1459
Essent Group
ESNT
$6.19B
$11.8M 0.01%
474,284
+33,000
+7% +$907K
OUTR
1460
DELISTED
OUTERWALL INC
OUTR
$11.7M 0.01%
206,353
+84,780
+70% +$5.82M
PRTA icon
1461
Prothena Corp
PRTA
$432M
$11.7M 0.01%
259,077
+69,813
+37% +$4.07M
PINC
1462
DELISTED
Premier
PINC
$11.7M 0.01%
339,511
– –
SCL icon
1463
Stepan Co
SCL
$1.42B
$11.7M 0.01%
280,194
-16,000
-5% -$745K
CVBF icon
1464
CVB Financial
CVBF
$4.03B
$11.7M 0.01%
697,589
– –
LHCG
1465
DELISTED
LHC Group LLC
LHCG
$11.5M 0.01%
257,374
-591
-0.2% -$26K
LCI
1466
DELISTED
Lannett Company, Inc.
LCI
$11.5M 0.01%
69,342
+15,811
+30% +$3.47M
BCC icon
1467
Boise Cascade
BCC
$2.82B
$11.5M 0.01%
455,267
+173,644
+62% +$5.54M
SBRA icon
1468
Sabra Healthcare REIT
SBRA
$5.27B
$11.5M 0.01%
494,613
– –
NWBI icon
1469
Northwest Bancshares
NWBI
$2.33B
$11.4M 0.01%
878,815
+19,109
+2% +$244K
CWT icon
1470
California Water Service
CWT
$3.1B
$11.4M 0.01%
515,906
-242,020
-32% -$5.29M
MEI icon
1471
Methode Electronics
MEI
$498M
$11.4M 0.01%
357,509
-120,162
-25% -$3.39M
AIRM
1472
DELISTED
Air Methods Corp
AIRM
$11.4M 0.01%
333,205
+19,000
+6% +$734K
WDFC icon
1473
WD-40
WDFC
$3.07B
$11.3M 0.01%
126,726
– –
PMC
1474
DELISTED
PharMerica Corporation
PMC
$11.2M 0.01%
394,431
-2,243
-0.6% -$75.4K
PRMW
1475
DELISTED
Primo Water Corporation
PRMW
$11.2M 0.01%
1,042,582
-39,840
-4% -$431K
57 58
59
60 61

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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.