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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
+6.01%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$244B
AUM Growth
+$14.9B
Cap. Flow
+$3.76B
Cap. Flow %
1.54%
Top 10 Hldgs %
14.9%
Holding
2,251
New
100
Increased
1,048
Reduced
797
Closed
111

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$376M
2
META icon
Meta Platforms (Facebook)
META
+$341M
3
FTI icon
TechnipFMC
FTI
+$267M
4
ENB icon
Enbridge
ENB
+$226M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$200M

Top Sells

Rank Stock Value
1
AFL icon
Aflac
AFL
+$533M
2
PRU icon
Prudential Financial
PRU
+$330M
3
SE
Spectra Energy Corp Wi
SE
+$224M
4
DB icon
Deutsche Bank
DB
+$175M
5
BLK icon
Blackrock
BLK
+$168M

Sector Composition

Rank Sector Weight
1 Financials 18.51%
2 Technology 15.24%
3 Healthcare 13.45%
4 Consumer Discretionary 9.35%
5 Industrials 9.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CONE
226
DELISTED
CyrusOne Inc Common Stock
CONE
$223M 0.09%
4,337,157
+46,221
+1% +$2.27M
BHI
227
DELISTED
Baker Hughes
BHI
$223M 0.09%
3,729,308
-192,372
-5% -$11.7M
DFS
228
DELISTED
Discover Financial Services
DFS
$222M 0.09%
3,250,764
-340,399
-9% -$23.9M
FIS icon
229
Fidelity National Information Services
FIS
$24.1B
$217M 0.09%
2,722,154
+413,346
+18% +$33.2M
DVN icon
230
Devon Energy
DVN
$50.9B
$216M 0.09%
5,182,469
-53,936
-1% -$2.37M
ISRG icon
231
Intuitive Surgical
ISRG
$127B
$215M 0.09%
2,522,583
+211,590
+9% +$16.7M
INCY icon
232
Incyte
INCY
$25.5B
$214M 0.09%
1,604,014
-196,725
-11% -$25M
IP icon
233
International Paper
IP
$22.7B
$212M 0.09%
4,416,435
+512,370
+13% +$25.7M
VTRS icon
234
Viatris
VTRS
$20.8B
$212M 0.09%
5,431,574
+1,075,380
+25% +$43.4M
AXTA icon
235
Axalta
AXTA
$7.49B
$212M 0.09%
6,570,468
+248,197
+4% +$7.37M
AZO icon
236
AutoZone
AZO
$51.7B
$211M 0.09%
291,319
+10,735
+4% +$7.95M
STI
237
DELISTED
SunTrust Banks, Inc.
STI
$211M 0.09%
3,809,017
+224,116
+6% +$12.8M
CMA
238
DELISTED
Comerica
CMA
$208M 0.09%
3,028,828
-1,139,142
-27% -$79.5M
ROP icon
239
Roper Technologies
ROP
$40.3B
$206M 0.08%
999,875
-207,629
-17% -$41.6M
EQR icon
240
Equity Residential
EQR
$25.7B
$206M 0.08%
3,306,608
+255,486
+8% +$16M
CAG icon
241
Conagra Brands
CAG
$7.41B
$205M 0.08%
5,076,906
-254,547
-5% -$10.2M
EA icon
242
Electronic Arts
EA
$52.4B
$204M 0.08%
2,282,965
+23,953
+1% +$2.04M
STX icon
243
Seagate
STX
$178B
$204M 0.08%
4,448,344
+1,251,015
+39% +$55.5M
WDC icon
244
Western Digital
WDC
$166B
$203M 0.08%
3,259,961
-16,950
-0.5% -$974K
STZ icon
245
Constellation Brands
STZ
$22.5B
$203M 0.08%
1,253,152
+97,762
+8% +$15.2M
FISV
246
Fiserv Inc
FISV
$29.7B
$202M 0.08%
3,506,550
-6,844
-0.2% -$384K
PEG icon
247
Public Service Enterprise Group
PEG
$38.7B
$201M 0.08%
4,527,178
-731,964
-14% -$32.3M
SWK icon
248
Stanley Black & Decker
SWK
$14.5B
$199M 0.08%
1,494,304
-168,814
-10% -$21.2M
ES icon
249
Eversource Energy
ES
$28B
$198M 0.08%
3,365,619
-565,951
-14% -$32.2M
CFG icon
250
Citizens Financial Group
CFG
$30.4B
$198M 0.08%
5,718,027
-593,638
-9% -$21.7M
8 9
10
11 12

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Norges Bank's Q1 2017 Portfolio in Review

As of Q1 2017, Norges Bank held 2,251 positions worth $244B, up 6.5% from $229B the previous quarter. Its ten largest holdings account for 15% of the portfolio.

Norges Bank's Q1 2017 filing shows 100 new, 1,048 increased, 797 reduced and 111 closed positions. Its largest new stake was Park Hotels & Resorts: 6,552,098 shares worth $168M. The largest sale was Aflac, an estimated $533M.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 20% a quarter earlier, followed by Technology and Healthcare.

  • Norges Bank's largest Q1 2017 buy was Park Hotels & Resorts: 6,552,098 shares worth $168M.
  • Norges Bank added most to Apple in Q1 2017, an estimated $376M increase.
  • Norges Bank's biggest Q1 2017 reduction was Aflac, cutting an estimated $533M.
  • Norges Bank fully exited Spectra Energy Corp Wi in Q1 2017, selling an estimated $224M.
  • Norges Bank's ten largest holdings make up 15% of its $244B portfolio in Q1 2017.
  • Norges Bank opened 100 new positions and closed 111 in Q1 2017.
  • Norges Bank's portfolio value rose 6.5% quarter-over-quarter to $244B.

Based on Norges Bank's 13F filing for Q1 2017, filed 10 May 2017.