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 | 19.74% |
| 2 | Technology | 14.07% |
| 3 | Healthcare | 13.06% |
| 4 | Industrials | 9.44% |
| 5 | Consumer Discretionary | 9.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PX
126
DELISTED
Praxair Inc
PX
| $357M | 0.16% |
3,044,513
-1,540,721
| -34% | -$183M |
|
|
127
Parker-Hannifin
PH
$119B
| $357M | 0.16% |
2,546,677
+1,325,486
| +109% | +$176M |
|
|
APC
128
DELISTED
Anadarko Petroleum
APC
| $353M | 0.15% |
5,064,862
+128,782
| +3% | +$8.37M |
|
129
Cigna
CI
$78.8B
| $348M | 0.15% |
2,612,311
+38,581
| +1% | +$5.05M |
|
|
RTN
130
DELISTED
Raytheon Company
RTN
| $348M | 0.15% |
+2,453,901
| New | +$349M |
|
131
Ecolab
ECL
$78.8B
| $348M | 0.15% |
2,969,880
-228,004
| -7% | -$26.7M |
|
132
Morgan Stanley
MS
$322B
| $347M | 0.15% |
8,210,443
+1,016,524
| +14% | +$38.4M |
|
|
S
133
DELISTED
Sprint Corporation
S
| $346M | 0.15% |
41,075,988
+856,429
| +2% | +$6.34M |
|
134
Capital One
COF
$130B
| $346M | 0.15% |
3,961,908
+257,450
| +7% | +$20.8M |
|
135
PayPal
PYPL
$50.6B
| $344M | 0.15% |
8,715,787
+776,396
| +10% | +$31.2M |
|
136
Enbridge
ENB
$121B
| $340M | 0.15% |
8,072,976
+143,251
| +2% | +$6.11M |
|
137
Automatic Data Processing
ADP
$111B
| $339M | 0.15% |
3,296,033
-46,453
| -1% | -$4.33M |
|
138
Dominion Energy
D
$62.2B
| $330M | 0.14% |
4,307,841
-237,042
| -5% | -$17.5M |
|
139
Kilroy Realty
KRC
$4.65B
| $327M | 0.14% |
4,470,686
| – | – |
|
140
DuPont de Nemours
DD
$18.6B
| $327M | 0.14% |
2,257,749
+42,974
| +2% | +$5.98M |
|
141
MetLife
MET
$62.6B
| $325M | 0.14% |
6,756,887
-452,983
| -6% | -$20.8M |
|
142
FedEx
FDX
$73.3B
| $320M | 0.14% |
1,717,066
-154,086
| -8% | -$28.3M |
|
143
Norfolk Southern
NSC
$75.6B
| $319M | 0.14% |
2,952,224
+123,183
| +4% | +$12.4M |
|
144
Cognizant
CTSH
$26.5B
| $318M | 0.14% |
5,675,653
-26,453
| -0.5% | -$1.42M |
|
|
TFCF
145
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $316M | 0.14% |
11,595,675
+1,835,714
| +19% | +$49.2M |
|
|
TFCFA
146
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $314M | 0.14% |
11,195,897
-1,325,294
| -11% | -$35.7M |
|
147
Kroger
KR
$37B
| $313M | 0.14% |
9,070,195
+78,850
| +0.9% | +$2.57M |
|
148
Waste Management
WM
$95.8B
| $310M | 0.14% |
4,373,466
+101,868
| +2% | +$6.81M |
|
149
Canadian Imperial Bank of Commerce
CM
$107B
| $309M | 0.14% |
7,560,274
+536,064
| +8% | +$21M |
|
150
Canadian Natural Resources
CNQ
$96.5B
| $308M | 0.13% |
19,715,804
-394,294
| -2% | -$6.25M |
|
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.