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 | |
|---|---|---|---|---|---|---|
|
PGND
2151
DELISTED
PRESS GANEY HOLDINGS INC COM STK (DE)
PGND
| $740K | ﹤0.01% |
25,000
| – | – |
|
|
UTEK
2152
DELISTED
Ultratech Inc.
UTEK
| $735K | ﹤0.01% |
45,854
| – | – |
|
2153
Boot Barn
BOOT
$4.58B
| $720K | ﹤0.01% |
39,047
| – | – |
|
2154
Hanmi Financial
HAFC
$935M
| $718K | ﹤0.01% |
28,500
| – | – |
|
2155
Gladstone Capital
GLAD
$427M
| $717K | ﹤0.01% |
44,103
-10,853
| -20% | -$182K |
|
2156
eHealth
EHTH
$41.9M
| $705K | ﹤0.01% |
55,000
+53,362
| +3,258% | +$758K |
|
|
ONCE
2157
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
| $702K | ﹤0.01% |
+16,830
| New | +$878K |
|
|
RSO
2158
DELISTED
Resource Capital Corp.
RSO
| $690K | ﹤0.01% |
61,805
-25,001
| -29% | -$338K |
|
|
AVG
2159
DELISTED
AVG Technologies N.V.
AVG
| $684K | ﹤0.01% |
31,479
+31,100
| +8,206% | +$789K |
|
2160
Ambarella
AMBA
$3.04B
| $675K | ﹤0.01% |
+11,674
| New | +$1.1M |
|
|
XNPT
2161
DELISTED
XENOPORT, INC.
XNPT
| $661K | ﹤0.01% |
190,476
| – | – |
|
2162
Ceragon Networks
CRNT
$188M
| $649K | ﹤0.01% |
409,540
+94,045
| +30% | +$127K |
|
2163
Ollie's Bargain Outlet
OLLI
$4.31B
| $647K | ﹤0.01% |
+40,000
| New | +$741K |
|
2164
Evolent Health
EVH
$371M
| $638K | ﹤0.01% |
40,000
| – | – |
|
2165
TIM SA
TIMB
$9.1B
| $631K | ﹤0.01% |
66,720
| – | – |
|
2166
Mannatech
MTEX
$9.3M
| $628K | ﹤0.01% |
33,096
-3,200
| -9% | -$58K |
|
2167
TherapeuticsMD
TXMD
$23.8M
| $608K | ﹤0.01% |
+2,075
| New | +$738K |
|
2168
Penumbra
PEN
$12.6B
| $602K | ﹤0.01% |
+15,000
| New | +$607K |
|
2169
DMC Global
BOOM
$111M
| $599K | ﹤0.01% |
62,775
| – | – |
|
|
ARII
2170
DELISTED
American Railcar Industries, Inc.
ARII
| $596K | ﹤0.01% |
16,492
-141,000
| -90% | -$5.79M |
|
2171
CBIZ
CBZ
$2.95B
| $594K | ﹤0.01% |
60,500
+38,000
| +169% | +$371K |
|
2172
Spok Holdings
SPOK
$229M
| $589K | ﹤0.01% |
35,800
-2,800
| -7% | -$46.3K |
|
2173
Gibraltar Industries
ROCK
$1.28B
| $579K | ﹤0.01% |
31,541
-247,107
| -89% | -$4.53M |
|
|
PACD
2174
DELISTED
Pacific Drilling S A
PACD
| $569K | ﹤0.01% |
45,491
| – | – |
|
|
WMC
2175
DELISTED
Western Asset Mortgage Capital Corporation
WMC
| $560K | ﹤0.01% |
4,443
-310
| -7% | -$42.4K |
|
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.