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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+1.81%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$203B
AUM Growth
+$2.15B
Cap. Flow
+$1.13B
Cap. Flow %
0.56%
Top 10 Hldgs %
14.59%
Holding
2,266
New
36
Increased
739
Reduced
656
Closed
78

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$410M
2
AMP icon
Ameriprise Financial
AMP
+$222M
3
UBS icon
UBS Group
UBS
+$218M
4
BAC icon
Bank of America
BAC
+$214M
5
VZ icon
Verizon
VZ
+$213M

Top Sells

Rank Stock Value
1
CMCSA icon
Comcast
CMCSA
+$639M
2
PLD icon
Prologis
PLD
+$395M
3
BRCM
BROADCOM CORP CL-A
BRCM
+$291M
4
MAC icon
Macerich
MAC
+$287M
5
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$268M

Sector Composition

Rank Sector Weight
1 Financials 18.2%
2 Technology 14.03%
3 Healthcare 13.56%
4 Consumer Discretionary 9.91%
5 Communication Services 9.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PXD
201
DELISTED
Pioneer Natural Resource Co.
PXD
$196M 0.1%
1,393,620
+259,514
+23% +$32.2M
SE
202
DELISTED
Spectra Energy Corp Wi
SE
$195M 0.1%
6,382,333
+2,417,954
+61% +$68.2M
EQR icon
203
Equity Residential
EQR
$25.8B
$194M 0.1%
2,590,339
+1,217,588
+89% +$91.1M
EL icon
204
Estee Lauder
EL
$30.8B
$193M 0.09%
2,042,835
– –
SBNY
205
DELISTED
Signature Bank
SBNY
$192M 0.09%
1,411,828
+178,600
+14% +$24.3M
CMI icon
206
Cummins
CMI
$84.8B
$191M 0.09%
1,739,837
-283,362
-14% -$27.4M
MPC icon
207
Marathon Petroleum
MPC
$90.4B
$190M 0.09%
5,111,530
+302,983
+6% +$11.5M
MHFI
208
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$186M 0.09%
1,880,448
-198,292
-10% -$17.8M
VTR icon
209
Ventas
VTR
$47.4B
$185M 0.09%
2,945,203
+114,287
+4% +$6.43M
NXPI icon
210
NXP Semiconductors
NXPI
$62.4B
$185M 0.09%
2,280,224
-235,100
-9% -$17.5M
AVB icon
211
AvalonBay Communities
AVB
$27.5B
$184M 0.09%
967,127
+442,994
+85% +$78.2M
BSX icon
212
Boston Scientific
BSX
$68.8B
$183M 0.09%
9,738,857
-813,706
-8% -$14.3M
ROST icon
213
Ross Stores
ROST
$81.6B
$182M 0.09%
3,151,548
+198,162
+7% +$11M
SHW icon
214
Sherwin-Williams
SHW
$84.9B
$182M 0.09%
1,920,951
-89,781
-4% -$7.86M
CAG icon
215
Conagra Brands
CAG
$7.42B
$181M 0.09%
5,209,276
-117,402
-2% -$3.81M
FISV
216
Fiserv Inc
FISV
$29.6B
$180M 0.09%
3,516,778
-234,884
-6% -$11.1M
SPG icon
217
Simon Property Group
SPG
$77B
$180M 0.09%
866,660
+279,932
+48% +$53.8M
ATVI
218
DELISTED
Activision Blizzard
ATVI
$177M 0.09%
5,232,872
-8,226
-0.2% -$270K
NVDA icon
219
NVIDIA
NVDA
$4.67T
$177M 0.09%
198,640,600
-7,202,360
-3% -$5.49M
BHI
220
DELISTED
Baker Hughes
BHI
$176M 0.09%
4,018,283
+235,815
+6% +$10.2M
IP icon
221
International Paper
IP
$22.7B
$174M 0.09%
4,487,917
+580,755
+15% +$20.2M
ISRG icon
222
Intuitive Surgical
ISRG
$127B
$173M 0.09%
2,593,818
+7,839
+0.3% +$486K
AWK icon
223
American Water Works
AWK
$27B
$172M 0.08%
2,500,095
+535,772
+27% +$34.9M
CSX icon
224
CSX Corp
CSX
$93.5B
$170M 0.08%
19,860,936
-3,105,009
-14% -$25.2M
APA icon
225
APA Corp
APA
$12.8B
$170M 0.08%
3,492,265
+386,998
+12% +$16.1M
7 8
9
10 11

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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.