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 | |
|---|---|---|---|---|---|---|
1626
Strategic Education
STRA
$1.89B
| $8.94M | ﹤0.01% |
162,638
+7,303
| +5% | +$374K |
|
|
ACOR
1627
DELISTED
Acorda Therapeutics
ACOR
| $8.93M | ﹤0.01% |
2,807
| – | – |
|
1628
Grand Canyon Education
LOPE
$3.93B
| $8.93M | ﹤0.01% |
234,981
-51,740
| -18% | -$2.08M |
|
|
HMSY
1629
DELISTED
HMS Holdings Corp.
HMSY
| $8.92M | ﹤0.01% |
1,016,642
+300,000
| +42% | +$3.35M |
|
1630
TTEC Holdings
TTEC
$122M
| $8.86M | ﹤0.01% |
330,757
-80,972
| -20% | -$2.21M |
|
|
ISEE
1631
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
| $8.85M | ﹤0.01% |
+218,287
| New | +$11.6M |
|
1632
HUB Group
HUBG
$2.83B
| $8.83M | ﹤0.01% |
485,054
| – | – |
|
1633
Louisiana-Pacific
LPX
$5.15B
| $8.81M | ﹤0.01% |
618,564
| – | – |
|
1634
Materion
MTRN
$4.45B
| $8.75M | ﹤0.01% |
291,500
+27,373
| +10% | +$874K |
|
|
CMRX
1635
DELISTED
Chimerix, Inc.
CMRX
| $8.69M | ﹤0.01% |
227,364
+19,619
| +9% | +$969K |
|
1636
Theravance Biopharma
TBPH
$874M
| $8.68M | ﹤0.01% |
789,595
-210,661
| -21% | -$2.68M |
|
1637
Weis Markets
WMK
$1.94B
| $8.67M | ﹤0.01% |
207,687
| – | – |
|
1638
OFG Bancorp
OFG
$2.24B
| $8.66M | ﹤0.01% |
992,405
+264,600
| +36% | +$2.28M |
|
1639
Bright Horizons
BFAM
$4.01B
| $8.64M | ﹤0.01% |
134,568
+15,000
| +13% | +$925K |
|
1640
Orthofix Medical
OFIX
$496M
| $8.61M | ﹤0.01% |
255,049
| – | – |
|
1641
Tenaris
TS
$28.9B
| $8.61M | ﹤0.01% |
357,005
| – | – |
|
1642
CorVel
CRVL
$3.09B
| $8.6M | ﹤0.01% |
798,468
| – | – |
|
1643
TriMas Corp
TRS
$1.45B
| $8.58M | ﹤0.01% |
525,038
-8,385
| -2% | -$164K |
|
1644
ESCO Technologies
ESE
$8.24B
| $8.58M | ﹤0.01% |
239,035
| – | – |
|
|
ASRT
1645
DELISTED
Assertio
ASRT
| $8.57M | ﹤0.01% |
+7,577
| New | +$12.9M |
|
|
WIN
1646
DELISTED
Windstream Holdings Inc
WIN
| $8.57M | ﹤0.01% |
279,031
-230,520
| -45% | -$7.19M |
|
1647
S&T Bancorp
STBA
$1.85B
| $8.56M | ﹤0.01% |
262,555
| – | – |
|
1648
Clearwater Paper
CLW
$359M
| $8.56M | ﹤0.01% |
181,141
-36,680
| -17% | -$1.97M |
|
|
CCC
1649
DELISTED
Calgon Carbon Corp
CCC
| $8.55M | ﹤0.01% |
548,986
| – | – |
|
|
HRG
1650
DELISTED
HRG Group, Inc.
HRG
| $8.54M | ﹤0.01% |
728,185
-125,000
| -15% | -$1.63M |
|
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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.