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 | |
|---|---|---|---|---|---|---|
201
Vertex Pharmaceuticals
VRTX
$123B
| $184M | 0.1% |
1,769,406
+124,052
| +8% | +$15.9M |
|
202
Estee Lauder
EL
$30.4B
| $184M | 0.1% |
2,276,675
| – | – |
|
203
WEC Energy
WEC
$36.3B
| $183M | 0.1% |
3,506,614
+226,939
| +7% | +$11M |
|
204
Canadian Natural Resources
CNQ
$96.9B
| $181M | 0.09% |
19,266,628
+89,798
| +0.5% | +$988K |
|
205
Emerson Electric
EMR
$81.6B
| $177M | 0.09% |
4,015,366
+62,210
| +2% | +$3.06M |
|
206
Perrigo
PRGO
$1.44B
| $177M | 0.09% |
+1,124,718
| New | +$206M |
|
207
Electronic Arts
EA
$52.4B
| $176M | 0.09% |
2,591,771
+9,980
| +0.4% | +$699K |
|
208
HCA Healthcare
HCA
$90.6B
| $175M | 0.09% |
2,266,093
-119,599
| -5% | -$10.6M |
|
209
Baxter International
BAX
$12.8B
| $175M | 0.09% |
5,326,197
-3,802,462
| -42% | -$144M |
|
|
MHFI
210
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $175M | 0.09% |
2,020,546
+39,530
| +2% | +$3.89M |
|
|
PGRE
211
DELISTED
Paramount Group
PGRE
| $174M | 0.09% |
10,336,938
+480,038
| +5% | +$8.29M |
|
212
CMS Energy
CMS
$23B
| $173M | 0.09% |
4,897,223
+422,778
| +9% | +$14.3M |
|
213
Cencora
COR
$62B
| $172M | 0.09% |
1,815,698
| – | – |
|
214
Public Service Enterprise Group
PEG
$38.7B
| $172M | 0.09% |
4,079,969
-315,820
| -7% | -$12.9M |
|
215
Chipotle Mexican Grill
CMG
$43.9B
| $170M | 0.09% |
11,819,700
+372,000
| +3% | +$5.29M |
|
216
Western Digital
WDC
$159B
| $170M | 0.09% |
2,827,874
-59,288
| -2% | -$3.57M |
|
|
SBNY
217
DELISTED
Signature Bank
SBNY
| $169M | 0.09% |
1,226,040
-40,889
| -3% | -$5.78M |
|
218
Monster Beverage
MNST
$95.1B
| $169M | 0.09% |
7,486,038
+1,285,992
| +21% | +$30.1M |
|
219
Tesla
TSLA
$1.18T
| $168M | 0.09% |
10,153,260
-2,538,285
| -20% | -$43.1M |
|
220
Truist Financial
TFC
$63.9B
| $168M | 0.09% |
4,708,520
+164,036
| +4% | +$6.33M |
|
221
Zimmer Biomet
ZBH
$18.8B
| $168M | 0.09% |
1,837,899
+290,324
| +19% | +$29.1M |
|
222
T-Mobile US
TMUS
$195B
| $167M | 0.09% |
4,193,511
+133,056
| +3% | +$5.31M |
|
223
Conagra Brands
CAG
$7.42B
| $167M | 0.09% |
5,295,502
+223,887
| +4% | +$7.51M |
|
|
SWN
224
DELISTED
Southwestern Energy Company
SWN
| $167M | 0.09% |
13,128,485
+1,000,000
| +8% | +$17.4M |
|
225
Macy's
M
$6.51B
| $166M | 0.09% |
3,236,447
+99,853
| +3% | +$6.26M |
|
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.