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 | |
|---|---|---|---|---|---|---|
1501
Scansource
SCSC
$1.15B
| $10.8M | 0.01% |
303,730
-5,446
| -2% | -$199K |
|
1502
Insight Enterprises
NSIT
$4.01B
| $10.8M | 0.01% |
416,396
| – | – |
|
|
SCTY
1503
DELISTED
SolarCity Corporation
SCTY
| $10.8M | 0.01% |
251,946
+20,333
| +9% | +$1.02M |
|
1504
Novartis
NVS
$292B
| $10.7M | 0.01% |
130,494
-104,145
| -44% | -$9.27M |
|
|
CXRX
1505
DELISTED
Concordia International Corp. Common Stock
CXRX
| $10.7M | 0.01% |
+252,664
| New | +$18.7M |
|
1506
Pinnacle Financial Partners Inc
PNFP
$16.2B
| $10.7M | 0.01% |
216,652
+32,497
| +18% | +$1.64M |
|
1507
Safety Insurance
SAFT
$1.52B
| $10.7M | 0.01% |
197,123
| – | – |
|
|
PMT
1508
PennyMac Mortgage Investment
PMT
$825M
| $10.7M | 0.01% |
688,421
| – | – |
|
|
MINI
1509
DELISTED
Mobile Mini Inc
MINI
| $10.6M | 0.01% |
345,624
| – | – |
|
|
AXLL
1510
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| $10.6M | 0.01% |
676,113
+41,900
| +7% | +$1.12M |
|
|
DOOR
1511
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $10.6M | 0.01% |
174,617
| – | – |
|
1512
STAG Industrial
STAG
$7.33B
| $10.6M | 0.01% |
579,906
| – | – |
|
1513
Globe Life
GL
$14.4B
| $10.6M | 0.01% |
187,089
+120,326
| +180% | +$7.14M |
|
|
GWB
1514
DELISTED
Great Western Bancorp, Inc.
GWB
| $10.5M | 0.01% |
414,670
+72,349
| +21% | +$1.82M |
|
|
VIVO
1515
DELISTED
Meridian Bioscience Inc
VIVO
| $10.5M | 0.01% |
612,452
| – | – |
|
1516
Archrock
AROC
$6.16B
| $10.5M | 0.01% |
581,294
| – | – |
|
|
JUNO
1517
DELISTED
Juno Therapeutics, Inc.
JUNO
| $10.5M | 0.01% |
+256,921
| New | +$11.3M |
|
1518
United Fire Group
UFCS
$1.33B
| $10.4M | 0.01% |
297,858
+13,109
| +5% | +$453K |
|
|
SWC
1519
DELISTED
Stillwater Mining Co
SWC
| $10.4M | 0.01% |
1,009,726
+32,077
| +3% | +$307K |
|
|
AL
1520
DELISTED
Air Lease Corp
AL
| $10.4M | 0.01% |
337,197
-37,900
| -10% | -$1.26M |
|
|
AUY
1521
DELISTED
Yamana Gold, Inc.
AUY
| $10.4M | 0.01% |
6,201,641
-2,002,124
| -24% | -$4.09M |
|
1522
Mine Safety
MSA
$7.43B
| $10.4M | 0.01% |
258,965
-546
| -0.2% | -$25.4K |
|
1523
First Financial Bancorp
FFBC
$3.59B
| $10.3M | 0.01% |
542,222
| – | – |
|
1524
Stride
LRN
$3.5B
| $10.3M | 0.01% |
827,902
-130,811
| -14% | -$1.75M |
|
1525
Integer Holdings
ITGR
$4.23B
| $10.3M | 0.01% |
200,224
| – | – |
|
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.