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 |
Alphabet (Google) Class A
GOOGL
|
+$410M |
| 2 |
Ameriprise Financial
AMP
|
+$222M |
| 3 |
UBS Group
UBS
|
+$218M |
| 4 |
Bank of America
BAC
|
+$214M |
| 5 |
Verizon
VZ
|
+$213M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$639M |
| 2 |
Prologis
PLD
|
+$395M |
| 3 |
BRCM
BROADCOM CORP CL-A
BRCM
|
+$291M |
| 4 |
Macerich
MAC
|
+$287M |
| 5 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$268M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.36% |
| 2 | Technology | 14.39% |
| 3 | Healthcare | 14.03% |
| 4 | Consumer Discretionary | 10.04% |
| 5 | Communication Services | 9.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NVMI
1926
Nova
NVMI
$10.6B
| $3.33M | ﹤0.01% |
319,756
| – | – |
|
|
UAM
1927
DELISTED
Universal American Corp
UAM
| $3.31M | ﹤0.01% |
463,525
-8,000
| -2% | -$51.9K |
|
|
BBOX
1928
DELISTED
Black Box Corp
BBOX
| $3.31M | ﹤0.01% |
245,395
-600
| -0.2% | -$6.44K |
|
1929
Enviri
NVRI
$609M
| $3.29M | ﹤0.01% |
602,834
-100,000
| -14% | -$577K |
|
1930
Kelly Services Class A
KELYA
$562M
| $3.27M | ﹤0.01% |
170,782
+30,900
| +22% | +$514K |
|
1931
Park Aerospace
PKE
$652M
| $3.25M | ﹤0.01% |
203,092
| – | – |
|
1932
Qualys
QLYS
$6.15B
| $3.24M | ﹤0.01% |
128,150
| – | – |
|
1933
Cerus
CERS
$506M
| $3.22M | ﹤0.01% |
543,135
+25,000
| +5% | +$138K |
|
1934
Ezcorp Inc
EZPW
$1.87B
| $3.22M | ﹤0.01% |
1,084,170
-400
| -0% | -$1.25K |
|
1935
Crocs
CROX
$5.38B
| $3.17M | ﹤0.01% |
328,971
+72,211
| +28% | +$672K |
|
|
CRR
1936
DELISTED
Carbo Ceramics Inc.
CRR
| $3.16M | ﹤0.01% |
222,393
-58,729
| -21% | -$1.01M |
|
1937
Stock Yards Bancorp
SYBT
$2.51B
| $3.13M | ﹤0.01% |
122,018
| – | – |
|
|
SWC
1938
DELISTED
Stillwater Mining Co
SWC
| $3.13M | ﹤0.01% |
293,923
-640,803
| -69% | -$5.13M |
|
|
AT
1939
DELISTED
Atlantic Power Corporation
AT
| $3.11M | ﹤0.01% |
1,260,195
| – | – |
|
|
UNT
1940
DELISTED
UNIT Corporation
UNT
| $3.1M | ﹤0.01% |
351,536
| – | – |
|
|
PVG
1941
DELISTED
PRETIUM RESOURCES INC.
PVG
| $3.05M | ﹤0.01% |
566,653
| – | – |
|
1942
American Public Education
APEI
$821M
| $3.05M | ﹤0.01% |
147,827
-171,173
| -54% | -$3.01M |
|
1943
Banco Bilbao Vizcaya Argentaria
BBVA
$158B
| $3.03M | ﹤0.01% |
473,728
-10,299
| -2% | -$65.4K |
|
|
AKS
1944
DELISTED
AK Steel Holding Corp
AKS
| $3M | ﹤0.01% |
+727,034
| New | +$2.08M |
|
|
SA
1945
Seabridge Gold
SA
$3.12B
| $2.91M | ﹤0.01% |
264,490
-32,800
| -11% | -$286K |
|
1946
WEC Energy
WEC
$33.9B
| $2.91M | ﹤0.01% |
48,373
-1,971,627
| -98% | -$110M |
|
|
CWEN.A
1947
DELISTED
Clearway Energy Class A
CWEN.A
| $2.9M | ﹤0.01% |
213,907
-89,250
| -29% | -$1.11M |
|
1948
Harmonic Inc
HLIT
$1.27B
| $2.9M | ﹤0.01% |
886,251
-208,506
| -19% | -$682K |
|
1949
NN Inc
NNBR
$279M
| $2.9M | ﹤0.01% |
211,663
| – | – |
|
1950
Arrow Financial
AROW
$722M
| $2.87M | ﹤0.01% |
136,983
| – | – |
|
Similar funds
Norges Bank's Q1 2016 Portfolio in Review
As of Q1 2016, Norges Bank held 2,266 positions worth $203B, up 1.1% from $201B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank's Q1 2016 filing shows 36 new, 739 increased, 656 reduced and 78 closed positions. Its largest new stake was Ferrari: 2,593,904 shares worth $108M. The largest sale was Comcast, an estimated $639M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q1 2016 buy was Ferrari: 2,593,904 shares worth $108M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2016, an estimated $410M increase.
- Norges Bank's biggest Q1 2016 reduction was Comcast, cutting an estimated $639M.
- Norges Bank fully exited BROADCOM CORP CL-A in Q1 2016, selling an estimated $291M.
- Norges Bank's ten largest holdings make up 15% of its $203B portfolio in Q1 2016.
- Norges Bank opened 36 new positions and closed 78 in Q1 2016.
- Norges Bank's portfolio value rose 1.1% quarter-over-quarter to $203B.
Based on Norges Bank's 13F filing for Q1 2016, filed 10 May 2016.