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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
+5.58%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$197B
AUM Growth
+$12.2B
Cap. Flow
+$4.71B
Cap. Flow %
2.39%
Top 10 Hldgs %
14.14%
Holding
2,423
New
94
Increased
966
Reduced
483
Closed
73

Top Buys

Rank Stock Value
1
UBS icon
UBS Group
UBS
+$1.96B
2
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$358M
3
PRU icon
Prudential Financial
PRU
+$303M
4
PLD icon
Prologis
PLD
+$294M
5
HLT icon
Hilton Worldwide
HLT
+$294M

Top Sells

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$186M
2
STX icon
Seagate
STX
+$122M
3
TRV icon
Travelers Companies
TRV
+$113M
4
GGP
GGP Inc.
GGP
+$110M
5
PH icon
Parker-Hannifin
PH
+$109M

Sector Composition

Rank Sector Weight
1 Financials 18.43%
2 Technology 13.92%
3 Healthcare 13.28%
4 Industrials 9.68%
5 Consumer Discretionary 9.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NFLX icon
276
Netflix
NFLX
$299B
$135M 0.07%
27,639,010
+184,660
+0.7% +$991K
CAG icon
277
Conagra Brands
CAG
$6.94B
$135M 0.07%
4,774,322
+149,800
+3% +$4.1M
ADI icon
278
Analog Devices
ADI
$179B
$135M 0.07%
2,426,213
– –
DG icon
279
Dollar General
DG
$28B
$134M 0.07%
1,892,925
-16,173
-0.8% -$1.05M
WY icon
280
Weyerhaeuser
WY
$18B
$132M 0.07%
3,683,330
+353,768
+11% +$12.1M
DVA icon
281
DaVita
DVA
$15.4B
$132M 0.07%
1,741,201
+39,779
+2% +$3M
HCBK
282
DELISTED
HUDSON CITY BANCORP INC
HCBK
$132M 0.07%
12,996,417
+3,376,407
+35% +$32.6M
SCHW
283
Charles Schwab
SCHW
$183B
$131M 0.07%
4,343,139
– –
SWK icon
284
Stanley Black & Decker
SWK
$14.3B
$130M 0.07%
1,354,426
+22,193
+2% +$2.05M
HSY icon
285
Hershey
HSY
$35.2B
$130M 0.07%
1,250,427
-510,321
-29% -$49.7M
WHR icon
286
Whirlpool
WHR
$2.43B
$130M 0.07%
670,714
– –
WCN
287
Waste Connections
WCN
$42.2B
$129M 0.07%
4,414,080
+121,863
+3% +$3.83M
WEC icon
288
WEC Energy
WEC
$35.7B
$128M 0.07%
2,433,327
+1,410,765
+138% +$69.2M
FISV
289
Fiserv Inc
FISV
$28.8B
$128M 0.07%
3,615,750
– –
JWN
290
DELISTED
Nordstrom
JWN
$126M 0.06%
1,588,932
– –
RSG icon
291
Republic Services
RSG
$64.8B
$126M 0.06%
3,118,391
+104,751
+3% +$4.11M
PPL
292
PPL Corp
PPL
$26.5B
$125M 0.06%
3,702,612
-114,274
-3% -$3.73M
STZ icon
293
Constellation Brands
STZ
$22.2B
$125M 0.06%
1,271,516
+90,750
+8% +$8.31M
HOT
294
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$124M 0.06%
1,529,969
+26,511
+2% +$2.07M
CHTR icon
295
Charter Communications
CHTR
$17.3B
$124M 0.06%
743,396
+47,411
+7% +$7.49M
AZO icon
296
AutoZone
AZO
$49.2B
$124M 0.06%
199,933
– –
BBY icon
297
Best Buy
BBY
$18.2B
$123M 0.06%
3,146,672
+59,946
+2% +$2.11M
NTAP icon
298
NetApp
NTAP
$35B
$123M 0.06%
2,955,737
+878,206
+42% +$36.5M
APH icon
299
Amphenol
APH
$198B
$122M 0.06%
9,083,136
– –
BFH icon
300
Bread Financial
BFH
$4.37B
$122M 0.06%
535,042
+92,690
+21% +$20.3M
10 11
12
13 14

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Norges Bank's Q4 2014 Portfolio in Review

As of Q4 2014, Norges Bank held 2,423 positions worth $197B, up 6.6% from $185B the previous quarter. Its ten largest holdings account for 14% of the portfolio.

Norges Bank's Q4 2014 filing shows 94 new, 966 increased, 483 reduced and 73 closed positions. Its largest new stake was UBS Group: 114,662,320 shares worth $1.97B. The largest sale was Simon Property Group, an estimated $186M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 17% a quarter earlier, followed by Technology and Healthcare.

  • Norges Bank's largest Q4 2014 buy was UBS Group: 114,662,320 shares worth $1.97B.
  • Norges Bank added most to Twenty-First Century Fox, Inc. Class A in Q4 2014, an estimated $358M increase.
  • Norges Bank's biggest Q4 2014 reduction was Simon Property Group, cutting an estimated $186M.
  • Norges Bank fully exited TIM HORTONS INC COM, CANADA in Q4 2014, selling an estimated $93.9M.
  • Norges Bank's ten largest holdings make up 14% of its $197B portfolio in Q4 2014.
  • Norges Bank opened 94 new positions and closed 73 in Q4 2014.
  • Norges Bank's portfolio value rose 6.6% quarter-over-quarter to $197B.

Based on Norges Bank's 13F filing for Q4 2014, filed 11 Feb 2015.