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 |
Broadcom
AVGO
|
+$510M |
| 2 |
Aptiv
APTV
|
+$358M |
| 3 |
LyondellBasell Industries
LYB
|
+$345M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$290M |
| 5 |
NXP Semiconductors
NXPI
|
+$195M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EMC
EMC CORPORATION
EMC
|
+$479M |
| 2 |
Duke Energy
DUK
|
+$392M |
| 3 |
Verizon
VZ
|
+$261M |
| 4 |
Crown Castle
CCI
|
+$186M |
| 5 |
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
|
+$167M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.63% |
| 2 | Technology | 14.57% |
| 3 | Healthcare | 13.9% |
| 4 | Consumer Discretionary | 9.72% |
| 5 | Industrials | 8.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2001
Axcelis
ACLS
$4.01B
| $1.56M | ﹤0.01% |
123,360
-1
| -0% | -$12 |
|
2002
America Movil
AMX
$76.1B
| $1.56M | ﹤0.01% |
142,501
-112,191
| -44% | -$1.34M |
|
2003
Modine Manufacturing
MOD
$10.7B
| $1.54M | ﹤0.01% |
135,689
-176,500
| -57% | -$1.84M |
|
2004
Harte-Hanks
HHS
$16.2M
| $1.5M | ﹤0.01% |
96,833
-2,500
| -3% | -$41.2K |
|
|
CRR
2005
DELISTED
Carbo Ceramics Inc.
CRR
| $1.5M | ﹤0.01% |
+143,071
| New | +$1.84M |
|
2006
Ceragon Networks
CRNT
$197M
| $1.43M | ﹤0.01% |
632,562
+317,067
| +100% | +$727K |
|
2007
Altisource Portfolio Solutions
ASPS
$63.6M
| $1.41M | ﹤0.01% |
5,701
-9,892
| -63% | -$2.33M |
|
|
ENLC
2008
DELISTED
ENLINK MIDSTREAM, LLC
ENLC
| $1.41M | ﹤0.01% |
88,131
+22,931
| +35% | +$372K |
|
2009
Citizens
CIA
$239M
| $1.4M | ﹤0.01% |
156,721
-25,000
| -14% | -$232K |
|
|
DX
2010
Dynex Capital
DX
$3.15B
| $1.4M | ﹤0.01% |
65,906
-5,700
| -8% | -$123K |
|
|
PTVCB
2011
DELISTED
Protective Insurance Corporation Class B Common Stock
PTVCB
| $1.38M | ﹤0.01% |
56,407
| – | – |
|
2012
Celldex Therapeutics
CLDX
$2.99B
| $1.36M | ﹤0.01% |
23,507
-5,000
| -18% | -$311K |
|
2013
e.l.f. Beauty
ELF
$4.89B
| $1.34M | ﹤0.01% |
+50,000
| New | +$1.31M |
|
|
ININ
2014
DELISTED
Interactive Intelligence Group, inc.
ININ
| $1.3M | ﹤0.01% |
+22,617
| New | +$1.22M |
|
|
GSS
2015
DELISTED
Golden Star Resources Ltd.
GSS
| $1.29M | ﹤0.01% |
323,649
| – | – |
|
|
SHLD
2016
DELISTED
Sears Holding Corporation
SHLD
| $1.29M | ﹤0.01% |
118,041
-146,620
| -55% | -$2.07M |
|
2017
Zumiez
ZUMZ
$332M
| $1.27M | ﹤0.01% |
73,963
-373,096
| -83% | -$6.18M |
|
2018
Standard BioTools
LAB
$340M
| $1.26M | ﹤0.01% |
164,219
| – | – |
|
2019
Gogo Inc
GOGO
$565M
| $1.25M | ﹤0.01% |
+118,764
| New | +$1.26M |
|
2020
The Greenbrier Companies
GBX
$1.52B
| $1.25M | ﹤0.01% |
36,950
-27,666
| -43% | -$905K |
|
|
IMMU
2021
DELISTED
Immunomedics Inc
IMMU
| $1.24M | ﹤0.01% |
400,000
| – | – |
|
2022
Nutanix
NTNX
$16B
| $1.24M | ﹤0.01% |
+35,000
| New | +$1.29M |
|
2023
MACOM Technology Solutions
MTSI
$19.2B
| $1.23M | ﹤0.01% |
30,527
-15,000
| -33% | -$588K |
|
2024
Lennar Class B
LEN.B
$19.4B
| $1.23M | ﹤0.01% |
41,199
| – | – |
|
|
SSI
2025
DELISTED
Stage Stores Inc
SSI
| $1.22M | ﹤0.01% |
227,294
| – | – |
|
Similar funds
Norges Bank's Q3 2016 Portfolio in Review
As of Q3 2016, Norges Bank held 2,233 positions worth $212B, up 0.53% from $210B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q3 2016 filing shows 58 new, 931 increased, 669 reduced and 85 closed positions. Its largest new stake was Fortive: 4,010,057 shares worth $123M. The largest sale was EMC CORPORATION, an estimated $479M.
By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 17% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q3 2016 buy was Fortive: 4,010,057 shares worth $123M.
- Norges Bank added most to Broadcom in Q3 2016, an estimated $510M increase.
- Norges Bank's biggest Q3 2016 reduction was Verizon, cutting an estimated $261M.
- Norges Bank fully exited EMC CORPORATION in Q3 2016, selling an estimated $479M.
- Norges Bank's ten largest holdings make up 14% of its $212B portfolio in Q3 2016.
- Norges Bank opened 58 new positions and closed 85 in Q3 2016.
- Norges Bank's portfolio value rose 0.53% quarter-over-quarter to $212B.
Based on Norges Bank's 13F filing for Q3 2016, filed 14 Nov 2016.