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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+5.32%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$229B
AUM Growth
+$17.2B
Cap. Flow
-$897M
Cap. Flow %
-0.39%
Top 10 Hldgs %
14.42%
Holding
2,214
New
65
Increased
867
Reduced
654
Closed
61

Top Buys

Rank Stock Value
1
RTN
Raytheon Company
RTN
+$349M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$216M
3
TRV icon
Travelers Companies
TRV
+$204M
4
C icon
Citigroup
C
+$199M
5
PH icon
Parker-Hannifin
PH
+$176M

Top Sells

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$547M
2
LYB icon
LyondellBasell Industries
LYB
+$488M
3
HLT icon
Hilton Worldwide
HLT
+$295M
4
AAPL icon
Apple
AAPL
+$280M
5
V icon
Visa
V
+$267M

Sector Composition

Rank Sector Weight
1 Financials 19.74%
2 Technology 14.07%
3 Healthcare 13.06%
4 Industrials 9.44%
5 Consumer Discretionary 9.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MCK icon
176
McKesson
MCK
$105B
$269M 0.12%
1,912,939
+8,863
+0.5% +$1.3M
TFC icon
177
Truist Financial
TFC
$64B
$266M 0.12%
5,661,035
+444,097
+9% +$18.9M
GLW icon
178
Corning
GLW
$109B
$266M 0.12%
10,949,278
+621,209
+6% +$14.8M
TRV icon
179
Travelers Companies
TRV
$81.5B
$262M 0.11%
2,141,424
+1,785,017
+501% +$204M
SPG icon
180
Simon Property Group
SPG
$76.8B
$262M 0.11%
1,473,135
+26,740
+2% +$4.97M
YHOO
181
DELISTED
Yahoo Inc
YHOO
$259M 0.11%
6,700,767
-191,979
-3% -$7.87M
PARA
182
DELISTED
Paramount Global Class B
PARA
$259M 0.11%
4,070,925
-291,817
-7% -$17.3M
DFS
183
DELISTED
Discover Financial Services
DFS
$259M 0.11%
3,591,163
+314,896
+10% +$20M
WY icon
184
Weyerhaeuser
WY
$17.6B
$258M 0.11%
8,567,116
-325,003
-4% -$10M
ALXN
185
DELISTED
Alexion Pharmaceuticals
ALXN
$256M 0.11%
2,092,896
+220,447
+12% +$27M
BHI
186
DELISTED
Baker Hughes
BHI
$255M 0.11%
3,921,680
+175,688
+5% +$10.4M
BDX icon
187
Becton Dickinson
BDX
$46.2B
$253M 0.11%
1,566,473
+80,354
+5% +$13.3M
HUM icon
188
Humana
HUM
$44.3B
$251M 0.11%
1,231,639
-95,210
-7% -$18.2M
BN icon
189
Brookfield
BN
$103B
$251M 0.11%
21,294,267
+43,090
+0.2% +$525K
TEL icon
190
TE Connectivity
TEL
$60.2B
$248M 0.11%
3,583,291
-42,821
-1% -$2.84M
YUM icon
191
Yum! Brands
YUM
$41.9B
$245M 0.11%
3,867,552
-1,665,487
-30% -$105M
ED icon
192
Consolidated Edison
ED
$41.2B
$243M 0.11%
3,296,695
-145,631
-4% -$10.5M
INTU icon
193
Intuit
INTU
$91.3B
$240M 0.1%
2,093,595
-100,583
-5% -$11.3M
PLD icon
194
Prologis
PLD
$135B
$240M 0.1%
4,541,728
– –
DVN icon
195
Devon Energy
DVN
$51B
$239M 0.1%
5,236,405
– –
CP icon
196
Canadian Pacific Kansas City
CP
$81.1B
$238M 0.1%
8,346,590
+438,780
+6% +$13M
CAH icon
197
Cardinal Health
CAH
$53.9B
$237M 0.1%
3,292,767
+75,300
+2% +$5.44M
MAR icon
198
Marriott International
MAR
$101B
$236M 0.1%
2,854,394
-115,910
-4% -$8.72M
HCA icon
199
HCA Healthcare
HCA
$90.5B
$234M 0.1%
3,166,326
– –
ZBH icon
200
Zimmer Biomet
ZBH
$18.7B
$234M 0.1%
2,338,179
-376,837
-14% -$40.4M
6 7
8
9 10

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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.