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 | |
|---|---|---|---|---|---|---|
|
HTO
1926
H2O America
HTO
$2.58B
| $3.73M | ﹤0.01% |
121,277
+5,600
| +5% | +$166K |
|
1927
Kenon Holdings
KEN
$3.57B
| $3.71M | ﹤0.01% |
+282,996
| New | +$4.61M |
|
1928
Titan International
TWI
$476M
| $3.69M | ﹤0.01% |
559,061
| – | – |
|
1929
Petrobras Class A
PBR.A
$107B
| $3.68M | ﹤0.01% |
1,000,005
| – | – |
|
|
NVMI
1930
Nova
NVMI
$13.2B
| $3.68M | ﹤0.01% |
+381,555
| New | +$4.38M |
|
1931
KB Home
KBH
$3.56B
| $3.64M | ﹤0.01% |
268,669
-227,638
| -46% | -$3.48M |
|
|
MACK
1932
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
| $3.62M | ﹤0.01% |
+54,031
| New | +$4.41M |
|
|
VTLE
1933
DELISTED
Vital Energy
VTLE
| $3.61M | ﹤0.01% |
19,119
-5,076
| -21% | -$1M |
|
|
NTK
1934
DELISTED
NORTEK INC COM NEW (DE)
NTK
| $3.6M | ﹤0.01% |
56,794
-15,108
| -21% | -$1.18M |
|
|
SSI
1935
DELISTED
Stage Stores Inc
SSI
| $3.59M | ﹤0.01% |
364,753
| – | – |
|
1936
Mercer International
MERC
$47.6M
| $3.58M | ﹤0.01% |
356,515
+219,517
| +160% | +$2.58M |
|
1937
Sabesp
SBS
$19.2B
| $3.57M | ﹤0.01% |
4,745,305
| – | – |
|
|
PVG
1938
DELISTED
PRETIUM RESOURCES INC.
PVG
| $3.56M | ﹤0.01% |
590,653
| – | – |
|
|
ISLE
1939
DELISTED
Isle of Capri Casinos Inc
ISLE
| $3.54M | ﹤0.01% |
203,169
| – | – |
|
|
INSY
1940
DELISTED
Insys Therapeutics, Inc.
INSY
| $3.53M | ﹤0.01% |
+123,998
| New | +$4.56M |
|
1941
FormFactor
FORM
$9.41B
| $3.51M | ﹤0.01% |
518,247
| – | – |
|
1942
United Parks & Resorts
PRKS
$2.19B
| $3.49M | ﹤0.01% |
195,969
| – | – |
|
|
SWIR
1943
DELISTED
Sierra Wireless
SWIR
| $3.45M | ﹤0.01% |
163,217
+21,300
| +15% | +$493K |
|
|
AAMI
1944
Acadian Asset Management
AAMI
$3.29B
| $3.43M | ﹤0.01% |
+222,312
| New | +$3.75M |
|
|
HNGR
1945
DELISTED
Hanger Inc.
HNGR
| $3.42M | ﹤0.01% |
250,535
| – | – |
|
|
IMPV
1946
DELISTED
Imperva, Inc.
IMPV
| $3.42M | ﹤0.01% |
+52,175
| New | +$3.46M |
|
1947
Republic Bancorp
RBCAA
$1.98B
| $3.41M | ﹤0.01% |
138,961
| – | – |
|
|
MYCC
1948
DELISTED
ClubCorp Holdings, Inc.
MYCC
| $3.4M | ﹤0.01% |
158,270
+123,270
| +352% | +$2.85M |
|
1949
Chegg
CHGG
$115M
| $3.39M | ﹤0.01% |
470,000
| – | – |
|
|
CWEN.A
1950
DELISTED
Clearway Energy Class A
CWEN.A
| $3.38M | ﹤0.01% |
303,157
+59,809
| +25% | +$1.02M |
|
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.