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 | |
|---|---|---|---|---|---|---|
1951
Smart Sand
SND
$218M
| $2.48M | ﹤0.01% |
+150,000
| New | +$1.99M |
|
1952
Crocs
CROX
$5.41B
| $2.46M | ﹤0.01% |
358,971
| – | – |
|
|
CRC
1953
DELISTED
California Resources Corporation
CRC
| $2.43M | ﹤0.01% |
114,305
-995,405
| -90% | -$14.6M |
|
|
CZR
1954
DELISTED
Caesars Entertainment Corporation
CZR
| $2.43M | ﹤0.01% |
285,703
-168,203
| -37% | -$1.26M |
|
|
REN
1955
DELISTED
Resolute Energy Corporaton
REN
| $2.42M | ﹤0.01% |
+58,645
| New | +$1.87M |
|
|
ELGX
1956
DELISTED
Endologix Inc
ELGX
| $2.41M | ﹤0.01% |
42,136
-31,797
| -43% | -$2.91M |
|
1957
Atkore
ATKR
$3.19B
| $2.39M | ﹤0.01% |
+100,000
| New | +$2.06M |
|
|
SFBS
1958
ServisFirst Bancshares
SFBS
$4.63B
| $2.37M | ﹤0.01% |
+126,542
| New | +$2M |
|
|
TPCO
1959
DELISTED
Tribune Publishing Company Common Stock
TPCO
| $2.36M | ﹤0.01% |
170,044
| – | – |
|
1960
Tennant Co
TNC
$1.16B
| $2.29M | ﹤0.01% |
32,125
-142,464
| -82% | -$9.81M |
|
|
STMP
1961
DELISTED
Stamps.com, Inc.
STMP
| $2.24M | ﹤0.01% |
19,526
-60,020
| -75% | -$6.24M |
|
1962
HEICO Corp Class A
HEI.A
$31.1B
| $2.21M | ﹤0.01% |
79,375
| – | – |
|
1963
Axcelis
ACLS
$3.2B
| $2.08M | ﹤0.01% |
143,060
+19,700
| +16% | +$268K |
|
1964
SPX Corp
SPXC
$8.92B
| $2.07M | ﹤0.01% |
87,377
| – | – |
|
1965
Modine Manufacturing
MOD
$9.49B
| $2.02M | ﹤0.01% |
135,689
| – | – |
|
1966
Barnes & Noble Education
BNED
$374M
| $1.99M | ﹤0.01% |
1,737
+1,037
| +148% | +$1.09M |
|
1967
Unisys
UIS
$184M
| $1.95M | ﹤0.01% |
130,513
-68,882
| -35% | -$875K |
|
|
SP
1968
DELISTED
SP Plus Corporation
SP
| $1.93M | ﹤0.01% |
68,656
| – | – |
|
|
GES
1969
DELISTED
Guess Inc
GES
| $1.93M | ﹤0.01% |
159,697
-694,371
| -81% | -$9.75M |
|
|
AT
1970
DELISTED
Atlantic Power Corporation
AT
| $1.92M | ﹤0.01% |
760,195
| – | – |
|
|
LORL
1971
DELISTED
Loral Space and Communications, Inc.
LORL
| $1.89M | ﹤0.01% |
46,026
| – | – |
|
|
CIE
1972
DELISTED
Cobalt International Energy, Inc
CIE
| $1.89M | ﹤0.01% |
103,165
+56,980
| +123% | +$987K |
|
|
FGL
1973
DELISTED
Fidelity & Guaranty Life
FGL
| $1.86M | ﹤0.01% |
78,478
| – | – |
|
|
TWOU
1974
DELISTED
2U Inc
TWOU
| $1.8M | ﹤0.01% |
1,995
-4,000
| -67% | -$4.07M |
|
1975
Knowles
KN
$2.96B
| $1.79M | ﹤0.01% |
107,258
-135,787
| -56% | -$2.12M |
|
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.