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
|
+$1.65B |
| 2 |
Synchrony
SYF
|
+$318M |
| 3 |
Hewlett Packard
HPE
|
+$245M |
| 4 |
Amazon
AMZN
|
+$195M |
| 5 |
Pfizer
PFE
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.54B |
| 2 |
Mastercard
MA
|
+$393M |
| 3 |
Chubb
CB
|
+$261M |
| 4 |
Oracle
ORCL
|
+$257M |
| 5 |
HP
HPQ
|
+$250M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.23% |
| 2 | Healthcare | 14.67% |
| 3 | Technology | 13.68% |
| 4 | Consumer Discretionary | 9.87% |
| 5 | Communication Services | 9.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
APC
176
DELISTED
Anadarko Petroleum
APC
| $216M | 0.11% |
4,451,496
-414,694
| -9% | -$25.4M |
|
177
Waste Management
WM
$95.5B
| $216M | 0.11% |
4,041,002
+148,926
| +4% | +$7.91M |
|
178
Archer Daniels Midland
ADM
$39B
| $216M | 0.11% |
5,877,070
-75,793
| -1% | -$3.04M |
|
179
Kinder Morgan
KMI
$70.6B
| $215M | 0.11% |
14,410,005
+2,061,404
| +17% | +$49.1M |
|
180
Corning
GLW
$108B
| $215M | 0.11% |
11,759,148
-32,882
| -0.3% | -$596K |
|
181
Equinix
EQIX
$100B
| $214M | 0.11% |
709,215
+14,281
| +2% | +$4.17M |
|
182
Halliburton
HAL
$26.1B
| $213M | 0.11% |
6,259,638
| – | – |
|
183
Intercontinental Exchange
ICE
$87.3B
| $213M | 0.11% |
4,150,510
+144,350
| +4% | +$7.26M |
|
184
Stellantis
STLA
$17.6B
| $213M | 0.11% |
23,232,877
-6,550,698
| -22% | -$61.5M |
|
185
NXP Semiconductors
NXPI
$62.4B
| $212M | 0.11% |
2,515,324
+872,227
| +53% | +$74.6M |
|
186
Applied Materials
AMAT
$361B
| $211M | 0.1% |
11,296,183
+274,909
| +2% | +$4.77M |
|
187
Carnival Corporation Ltd
CCL
$38.3B
| $209M | 0.1% |
3,839,345
+93,027
| +2% | +$4.81M |
|
188
Intuit
INTU
$91.3B
| $208M | 0.1% |
2,159,282
+35,810
| +2% | +$3.46M |
|
|
189
HP
HPQ
$26.3B
| $208M | 0.1% |
17,580,301
-19,546,403
| -53% | -$250M |
|
190
Sysco
SYY
$40.9B
| $206M | 0.1% |
5,023,721
-73,334
| -1% | -$3.01M |
|
|
MHFI
191
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $205M | 0.1% |
2,078,740
+58,194
| +3% | +$5.52M |
|
192
Canadian Natural Resources
CNQ
$96.4B
| $203M | 0.1% |
19,314,320
+47,692
| +0.2% | +$533K |
|
|
ATVI
193
DELISTED
Activision Blizzard
ATVI
| $203M | 0.1% |
5,241,098
+536,878
| +11% | +$19.3M |
|
194
HCA Healthcare
HCA
$91.2B
| $202M | 0.1% |
2,989,304
+723,211
| +32% | +$50.4M |
|
195
VF Corp
VFC
$5.84B
| $201M | 0.1% |
3,437,325
-83,203
| -2% | -$5.19M |
|
196
Bath & Body Works
BBWI
$3.94B
| $199M | 0.1% |
2,567,277
-319,596
| -11% | -$24.8M |
|
197
CSX Corp
CSX
$93.6B
| $199M | 0.1% |
22,965,945
-1,283,382
| -5% | -$11.7M |
|
198
Roper Technologies
ROP
$40.3B
| $198M | 0.1% |
1,044,429
+66,575
| +7% | +$12.2M |
|
199
O'Reilly Automotive
ORLY
$75.1B
| $197M | 0.1% |
11,680,335
-61,740
| -0.5% | -$1.07M |
|
200
Emerson Electric
EMR
$82.7B
| $197M | 0.1% |
4,115,610
+100,244
| +2% | +$4.77M |
|
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Norges Bank's Q4 2015 Portfolio in Review
As of Q4 2015, Norges Bank held 2,329 positions worth $201B, up 5.4% from $191B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q4 2015 filing shows 47 new, 880 increased, 556 reduced and 99 closed positions. Its largest new stake was Alphabet (Google) Class A: 44,521,280 shares worth $1.73B. The largest sale was Alphabet (Google) Class C, an estimated $1.54B.
By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 19% a quarter earlier, followed by Healthcare and Technology.
- Norges Bank's largest Q4 2015 buy was Alphabet (Google) Class A: 44,521,280 shares worth $1.73B.
- Norges Bank added most to Synchrony in Q4 2015, an estimated $318M increase.
- Norges Bank's biggest Q4 2015 reduction was Alphabet (Google) Class C, cutting an estimated $1.54B.
- Norges Bank fully exited HUDSON CITY BANCORP INC in Q4 2015, selling an estimated $189M.
- Norges Bank's ten largest holdings make up 14% of its $201B portfolio in Q4 2015.
- Norges Bank opened 47 new positions and closed 99 in Q4 2015.
- Norges Bank's portfolio value rose 5.4% quarter-over-quarter to $201B.
Based on Norges Bank's 13F filing for Q4 2015, filed 10 Feb 2016.