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 | 19.93% |
| 2 | Technology | 14.43% |
| 3 | Healthcare | 13.4% |
| 4 | Consumer Discretionary | 9.53% |
| 5 | Industrials | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CSOD
1626
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $11.7M | 0.01% |
275,461
+22,753
| +9% | +$903K |
|
1627
CVR Energy
CVI
$5.33B
| $11.6M | 0.01% |
458,470
| – | – |
|
1628
First Financial Corp
THFF
$914M
| $11.6M | 0.01% |
220,162
| – | – |
|
|
ITG
1629
DELISTED
Investment Technology Group Inc
ITG
| $11.6M | 0.01% |
588,928
| – | – |
|
|
GIMO
1630
DELISTED
Gigamon Inc.
GIMO
| $11.6M | 0.01% |
254,861
+104,294
| +69% | +$5.43M |
|
|
NGD
1631
DELISTED
New Gold Inc
NGD
| $11.6M | 0.01% |
3,304,187
| – | – |
|
|
AMWD
1632
DELISTED
American Woodmark
AMWD
| $11.6M | 0.01% |
153,853
-55,970
| -27% | -$4.32M |
|
|
NTUS
1633
DELISTED
Natus Medical Inc
NTUS
| $11.6M | 0.01% |
332,170
+88,571
| +36% | +$3.48M |
|
1634
Korn Ferry
KFY
$4.22B
| $11.6M | 0.01% |
392,769
-100,918
| -20% | -$2.46M |
|
1635
Advanced Drainage Systems
WMS
$9.56B
| $11.6M | 0.01% |
561,084
+235,356
| +72% | +$4.93M |
|
1636
Aaon
AAON
$6.23B
| $11.5M | 0.01% |
521,669
| – | – |
|
1637
KB Home
KBH
$2.98B
| $11.5M | 0.01% |
724,663
-1,408,077
| -66% | -$22M |
|
1638
Super Micro Computer
SMCI
$24.2B
| $11.4M | 0.01% |
4,075,520
-100,000
| -2% | -$252K |
|
1639
TTEC Holdings
TTEC
$59.6M
| $11.3M | ﹤0.01% |
370,757
| – | – |
|
|
SWC
1640
DELISTED
Stillwater Mining Co
SWC
| $11.3M | ﹤0.01% |
700,791
+73,583
| +12% | +$1.05M |
|
1641
Groupon
GRPN
$786M
| $11.3M | ﹤0.01% |
169,579
-53,733
| -24% | -$4.52M |
|
1642
RPC Inc
RES
$1.33B
| $11.3M | ﹤0.01% |
568,105
-218,276
| -28% | -$4.09M |
|
|
AAMI
1643
Acadian Asset Management
AAMI
$3.17B
| $11.2M | ﹤0.01% |
775,693
+150,000
| +24% | +$2.13M |
|
1644
Griffon
GFF
$4.22B
| $11.2M | ﹤0.01% |
428,937
| – | – |
|
1645
Sarepta Therapeutics
SRPT
$2.09B
| $11.2M | ﹤0.01% |
407,604
+66,351
| +19% | +$2.66M |
|
1646
Independent Bank
INDB
$3.91B
| $11.2M | ﹤0.01% |
158,373
| – | – |
|
1647
1st Source
SRCE
$2.07B
| $11.2M | ﹤0.01% |
249,691
+50,000
| +25% | +$1.93M |
|
1648
Descartes Systems
DSGX
$6.76B
| $11.1M | ﹤0.01% |
520,147
| – | – |
|
1649
Petrobras Class A
PBR.A
$122B
| $11.1M | ﹤0.01% |
1,258,403
| – | – |
|
|
SYNT
1650
DELISTED
Syntel Inc
SYNT
| $11M | ﹤0.01% |
556,619
+61,658
| +12% | +$1.33M |
|
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.