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 | |
|---|---|---|---|---|---|---|
|
OMED
2001
DELISTED
OncoMed Pharmaceuticals, Inc.
OMED
| $1.84M | ﹤0.01% |
182,357
| – | – |
|
|
WAC
2002
DELISTED
Walter Investment Mgt Corp
WAC
| $1.84M | ﹤0.01% |
240,911
-20,000
| -8% | -$182K |
|
2003
GoDaddy
GDDY
$13.2B
| $1.83M | ﹤0.01% |
+56,681
| New | +$1.7M |
|
2004
Altisource Portfolio Solutions
ASPS
$66.4M
| $1.8M | ﹤0.01% |
9,343
-16,187
| -63% | -$3.44M |
|
2005
Ennis
EBF
$539M
| $1.8M | ﹤0.01% |
91,924
-30,800
| -25% | -$600K |
|
2006
Koppers
KOP
$877M
| $1.79M | ﹤0.01% |
79,819
-75,000
| -48% | -$1.34M |
|
|
LXFT
2007
DELISTED
Luxoft Holding, Inc.
LXFT
| $1.75M | ﹤0.01% |
+31,851
| New | +$1.92M |
|
2008
AudioCodes
AUDC
$232M
| $1.72M | ﹤0.01% |
370,752
| – | – |
|
2009
Columbus McKinnon
CMCO
$512M
| $1.65M | ﹤0.01% |
104,413
| – | – |
|
2010
NovoCure
NVCR
$1.81B
| $1.64M | ﹤0.01% |
112,900
+37,900
| +51% | +$544K |
|
|
DBVT
2011
DBV Technologies
DBVT
$745M
| $1.63M | ﹤0.01% |
5,000
| – | – |
|
|
LORL
2012
DELISTED
Loral Space and Communications, Inc.
LORL
| $1.62M | ﹤0.01% |
46,026
| – | – |
|
2013
Celldex Therapeutics
CLDX
$2.9B
| $1.62M | ﹤0.01% |
28,507
-11,367
| -29% | -$1.28M |
|
|
LNW
2014
DELISTED
Light & Wonder
LNW
| $1.6M | ﹤0.01% |
169,852
| – | – |
|
2015
SFL Corp
SFL
$1.83B
| $1.59M | ﹤0.01% |
114,243
| – | – |
|
|
ENOC
2016
DELISTED
EnerNOC, Inc.
ENOC
| $1.56M | ﹤0.01% |
208,943
-176,424
| -46% | -$975K |
|
|
TPC
2017
Tutor Perini Cor
TPC
$4.44B
| $1.56M | ﹤0.01% |
100,100
+75,100
| +300% | +$1.04M |
|
2018
HEICO Corp Class A
HEI.A
$31.8B
| $1.55M | ﹤0.01% |
79,375
| – | – |
|
|
TUES
2019
DELISTED
Tuesday Morning Corp
TUES
| $1.53M | ﹤0.01% |
187,443
| – | – |
|
|
RT
2020
DELISTED
Ruby Tuesday Georgia
RT
| $1.51M | ﹤0.01% |
280,646
-85,000
| -23% | -$445K |
|
2021
ICF International
ICFI
$1.58B
| $1.5M | ﹤0.01% |
43,729
| – | – |
|
|
FRGI
2022
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
| $1.5M | ﹤0.01% |
45,826
-121,199
| -73% | -$4.27M |
|
2023
Haverty Furniture Companies
HVT
$434M
| $1.5M | ﹤0.01% |
70,800
| – | – |
|
2024
Lennar Class B
LEN.B
$19B
| $1.49M | ﹤0.01% |
41,199
| – | – |
|
2025
Gray Television
GTN
$499M
| $1.47M | ﹤0.01% |
125,000
| – | – |
|
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.