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 | |
|---|---|---|---|---|---|---|
|
NGD
1951
DELISTED
New Gold Inc
NGD
| $3.37M | ﹤0.01% |
1,503,047
-2,426,230
| -62% | -$5.61M |
|
|
SCAI
1952
DELISTED
Surgical Care Affiliates, Inc.
SCAI
| $3.35M | ﹤0.01% |
102,600
+42,600
| +71% | +$1.6M |
|
1953
Enpro
NPO
$7.01B
| $3.33M | ﹤0.01% |
85,102
| – | – |
|
1954
National Healthcare
NHC
$3.43B
| $3.33M | ﹤0.01% |
54,725
-36,999
| -40% | -$2.32M |
|
|
KERX
1955
DELISTED
Keryx Biopharmaceuticals Inc
KERX
| $3.32M | ﹤0.01% |
941,935
| – | – |
|
|
FRED
1956
DELISTED
Fred's Inc
FRED
| $3.31M | ﹤0.01% |
279,712
-15,675
| -5% | -$241K |
|
|
RP
1957
DELISTED
RealPage, Inc.
RP
| $3.3M | ﹤0.01% |
198,671
+24,300
| +14% | +$452K |
|
1958
Quad
QUAD
$545M
| $3.29M | ﹤0.01% |
271,797
-17,861
| -6% | -$271K |
|
|
ENOC
1959
DELISTED
EnerNOC, Inc.
ENOC
| $3.24M | ﹤0.01% |
410,367
-221,851
| -35% | -$1.93M |
|
1960
Encore Capital Group
ECPG
$2.04B
| $3.23M | ﹤0.01% |
87,234
| – | – |
|
|
UAM
1961
DELISTED
Universal American Corp
UAM
| $3.23M | ﹤0.01% |
471,525
-30,590
| -6% | -$248K |
|
|
SREV
1962
DELISTED
ServiceSource International, Inc.
SREV
| $3.22M | ﹤0.01% |
805,862
| – | – |
|
|
SMRT
1963
DELISTED
Stein Mart Inc
SMRT
| $3.21M | ﹤0.01% |
332,028
| – | – |
|
1964
OraSure Technologies
OSUR
$284M
| $3.2M | ﹤0.01% |
721,464
| – | – |
|
|
ECOL
1965
DELISTED
US Ecology, Inc.
ECOL
| $3.2M | ﹤0.01% |
73,280
-25,746
| -26% | -$1.22M |
|
1966
Hecla Mining
HL
$10.5B
| $3.17M | ﹤0.01% |
1,607,558
-42,200
| -3% | -$89.8K |
|
|
PWE
1967
DELISTED
Penn West Energy Petroleum Ltd
PWE
| $3.15M | ﹤0.01% |
7,046,650
-1,503,709
| -18% | -$1.47M |
|
|
IVC
1968
DELISTED
Invacare Corporation
IVC
| $3.07M | ﹤0.01% |
212,428
| – | – |
|
1969
Barnes & Noble Education
BNED
$451M
| $3.06M | ﹤0.01% |
+2,412
| New | +$3.12M |
|
1970
Rush Enterprises Class A
RUSHA
$6.45B
| $3.03M | ﹤0.01% |
281,340
-67,500
| -19% | -$753K |
|
|
OMED
1971
DELISTED
OncoMed Pharmaceuticals, Inc.
OMED
| $3.02M | ﹤0.01% |
182,357
| – | – |
|
1972
Tejon Ranch
TRC
$452M
| $3.01M | ﹤0.01% |
142,196
| – | – |
|
1973
TETRA Technologies
TTI
$1.31B
| $3.01M | ﹤0.01% |
509,472
+118,264
| +30% | +$749K |
|
|
MDR
1974
DELISTED
McDermott International
MDR
| $3.01M | ﹤0.01% |
233,345
-215,678
| -48% | -$2.96M |
|
|
CBM
1975
DELISTED
Cambrex Corporation
CBM
| $2.97M | ﹤0.01% |
+74,743
| New | +$3.5M |
|
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.