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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
-7.31%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$191B
AUM Growth
-$9.24B
Cap. Flow
+$8.74B
Cap. Flow %
4.58%
Top 10 Hldgs %
14.49%
Holding
2,397
New
123
Increased
836
Reduced
600
Closed
115

Top Buys

Rank Stock Value
1
UBS icon
UBS Group
UBS
+$2.47B
2
AGN
Allergan plc
AGN
+$1.01B
3
MDT icon
Medtronic
MDT
+$862M
4
AMP icon
Ameriprise Financial
AMP
+$592M
5
PYPL icon
PayPal
PYPL
+$354M

Top Sells

Rank Stock Value
1
DTV
DIRECTV COM STK (DE)
DTV
+$372M
2
EBAY icon
eBay
EBAY
+$333M
3
CMCSK
COMCAST CORP SPL A (NEW)
CMCSK
+$240M
4
CB icon
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
DG icon
251
Dollar General
DG
$28.4B
$150M 0.08%
2,068,299
+81,351
+4% +$6.21M
ADI icon
252
Analog Devices
ADI
$172B
$149M 0.08%
2,635,945
+115,026
+5% +$6.69M
WFM
253
DELISTED
Whole Foods Market Inc
WFM
$148M 0.08%
4,690,357
+1,328,587
+40% +$47M
SWK icon
254
Stanley Black & Decker
SWK
$14.5B
$148M 0.08%
1,522,777
+49,811
+3% +$5.13M
RSG icon
255
Republic Services
RSG
$67.4B
$147M 0.08%
3,570,991
+6,143
+0.2% +$253K
LVLT
256
DELISTED
Level 3 Communications Inc
LVLT
$147M 0.08%
3,365,115
+341,089
+11% +$16.4M
STX icon
257
Seagate
STX
$173B
$147M 0.08%
3,275,646
+109,316
+3% +$5.29M
MU icon
258
Micron Technology
MU
$835B
$147M 0.08%
9,795,732
+58,962
+0.6% +$1.01M
PNR icon
259
Pentair
PNR
$10.8B
$147M 0.08%
4,279,437
– –
CERN
260
DELISTED
Cerner Corp
CERN
$147M 0.08%
2,444,359
+16,472
+0.7% +$1.08M
ATVI
261
DELISTED
Activision Blizzard
ATVI
$145M 0.08%
4,704,220
-107,411
-2% -$2.99M
NXPI icon
262
NXP Semiconductors
NXPI
$60.8B
$143M 0.08%
1,643,097
+183,726
+13% +$16.6M
SCHW
263
Charles Schwab
SCHW
$182B
$142M 0.07%
4,987,282
+88,518
+2% +$2.84M
DOC icon
264
Healthpeak Properties
DOC
$15.5B
$142M 0.07%
4,193,781
+88,755
+2% +$3.07M
MET icon
265
MetLife
MET
$62.4B
$140M 0.07%
3,341,228
+44,301
+1% +$2.07M
DVA icon
266
DaVita
DVA
$15.5B
$139M 0.07%
1,919,534
+25,134
+1% +$1.95M
KDP icon
267
Keurig Dr Pepper
KDP
$42.8B
$138M 0.07%
1,747,969
+12,786
+0.7% +$1M
BNY
268
Bank of New York Mellon
BNY
$103B
$138M 0.07%
3,519,725
+108,143
+3% +$4.49M
DLTR icon
269
Dollar Tree
DLTR
$24.8B
$138M 0.07%
2,064,497
+263,842
+15% +$19.8M
TRI icon
270
Thomson Reuters
TRI
$46.4B
$137M 0.07%
2,949,298
+174,515
+6% +$7.96M
IP icon
271
International Paper
IP
$22.6B
$135M 0.07%
3,783,165
+88,517
+2% +$3.75M
PXD
272
DELISTED
Pioneer Natural Resource Co.
PXD
$134M 0.07%
1,099,827
+54,527
+5% +$6.8M
K
273
DELISTED
Kellanova
K
$133M 0.07%
2,134,144
+24,214
+1% +$1.51M
EW icon
274
Edwards Lifesciences
EW
$49.4B
$133M 0.07%
5,619,756
+41,130
+0.7% +$993K
AMT icon
275
American Tower
AMT
$83.5B
$132M 0.07%
1,505,766
-64,885
-4% -$6.11M
9 10
11
12 13

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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.