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 |
UBS Group
UBS
|
+$2.47B |
| 2 |
AGN
Allergan plc
AGN
|
+$1.01B |
| 3 |
Medtronic
MDT
|
+$862M |
| 4 |
Ameriprise Financial
AMP
|
+$592M |
| 5 |
PayPal
PYPL
|
+$354M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$372M |
| 2 |
eBay
EBAY
|
+$333M |
| 3 |
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
|
+$240M |
| 4 |
Chubb
CB
|
+$202M |
| 5 |
PLL
PALL CORP
PLL
|
+$149M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.09% |
| 2 | Healthcare | 14.17% |
| 3 | Technology | 13.55% |
| 4 | Consumer Discretionary | 9.72% |
| 5 | Industrials | 9.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SA
2051
Seabridge Gold
SA
$2.72B
| $1.72M | ﹤0.01% |
297,290
-21,900
| -7% | -$119K |
|
|
SPNE
2052
DELISTED
SeaSpine Holdings Corporation Common Stock
SPNE
| $1.71M | ﹤0.01% |
+105,725
| New | +$1.73M |
|
2053
Lexicon Pharmaceuticals
LXRX
$1.03B
| $1.7M | ﹤0.01% |
158,669
| – | – |
|
|
PTVCB
2054
DELISTED
Protective Insurance Corporation Class B Common Stock
PTVCB
| $1.7M | ﹤0.01% |
78,116
-4,504
| -5% | -$103K |
|
2055
Haverty Furniture Companies
HVT
$418M
| $1.66M | ﹤0.01% |
70,800
| – | – |
|
2056
IAMGOLD
IAG
$8.05B
| $1.66M | ﹤0.01% |
1,020,244
-400,000
| -28% | -$650K |
|
|
GBL
2057
DELISTED
GAMCO Investors, Inc.
GBL
| $1.65M | ﹤0.01% |
55,717
| – | – |
|
2058
Houlihan Lokey
HLI
$9.72B
| $1.64M | ﹤0.01% |
+75,000
| New | +$1.64M |
|
2059
Shutterstock
SSTK
$209M
| $1.61M | ﹤0.01% |
53,400
| – | – |
|
|
BKI
2060
DELISTED
Black Knight, Inc. Common Stock
BKI
| $1.61M | ﹤0.01% |
49,600
-400
| -0.8% | -$13K |
|
2061
Unisys
UIS
$252M
| $1.6M | ﹤0.01% |
134,260
| – | – |
|
2062
Gray Television
GTN
$437M
| $1.59M | ﹤0.01% |
125,000
| – | – |
|
2063
Magnite
MGNI
$2.83B
| $1.58M | ﹤0.01% |
+108,814
| New | +$1.66M |
|
|
DX
2064
Dynex Capital
DX
$3.17B
| $1.55M | ﹤0.01% |
78,616
-3,347
| -4% | -$70.1K |
|
2065
Constellium
CSTM
$3.76B
| $1.55M | ﹤0.01% |
255,007
-77,954
| -23% | -$650K |
|
2066
AudioCodes
AUDC
$239M
| $1.53M | ﹤0.01% |
+465,522
| New | +$1.46M |
|
2067
Xencor
XNCR
$1.45B
| $1.53M | ﹤0.01% |
125,078
| – | – |
|
|
MWW
2068
DELISTED
Monster Worldwide Inc
MWW
| $1.53M | ﹤0.01% |
237,894
-502,808
| -68% | -$3.43M |
|
|
SGI
2069
DELISTED
Silicon Graphics Intl.
SGI
| $1.52M | ﹤0.01% |
387,352
-600
| -0.2% | -$2.98K |
|
2070
Lennar Class B
LEN.B
$19.9B
| $1.52M | ﹤0.01% |
41,199
| – | – |
|
|
RATE
2071
DELISTED
Bankrate Inc
RATE
| $1.51M | ﹤0.01% |
145,910
-32,600
| -18% | -$327K |
|
|
CIVI
2072
DELISTED
Civitas Resources
CIVI
| $1.49M | ﹤0.01% |
3,271
+630
| +24% | +$586K |
|
|
LSG
2073
DELISTED
LAKE SHORE GOLD CORP
LSG
| $1.48M | ﹤0.01% |
+1,770,194
| New | +$1.52M |
|
2074
HEICO Corp Class A
HEI.A
$36B
| $1.48M | ﹤0.01% |
63,500
| – | – |
|
|
EPE
2075
DELISTED
EP Energy Corporation
EPE
| $1.4M | ﹤0.01% |
271,254
| – | – |
|
Similar funds
Norges Bank's Q3 2015 Portfolio in Review
As of Q3 2015, Norges Bank held 2,397 positions worth $191B, down 4.6% from $200B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank deployed $8.74B of net new capital in Q3 2015, opening 123 new positions and adding to 836 existing holdings. Its largest new stake was Allergan plc: 3,274,552 shares worth $890M.
By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 18% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was eBay, an estimated $333M trimmed.
- Norges Bank's largest Q3 2015 buy was Allergan plc: 3,274,552 shares worth $890M.
- Norges Bank added most to UBS Group in Q3 2015, an estimated $2.47B increase.
- Norges Bank's biggest Q3 2015 reduction was eBay, cutting an estimated $333M.
- Norges Bank fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $372M.
- Norges Bank's ten largest holdings make up 14% of its $191B portfolio in Q3 2015.
- Norges Bank opened 123 new positions and closed 115 in Q3 2015.
- Norges Bank's portfolio value fell 4.6% quarter-over-quarter to $191B.
Based on Norges Bank's 13F filing for Q3 2015, filed 6 Nov 2015.