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 |
Wells Fargo
WFC
|
+$290M |
| 2 |
Kilroy Realty
KRC
|
+$273M |
| 3 |
AT&T
T
|
+$271M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$173M |
| 5 |
Ameriprise Financial
AMP
|
+$163M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UBS Group
UBS
|
+$2.55B |
| 2 |
Medtronic
MDT
|
+$888M |
| 3 |
AGN
Allergan plc
AGN
|
+$875M |
| 4 |
KRFT
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
|
+$360M |
| 5 |
Stellantis
STLA
|
+$320M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.27% |
| 2 | Technology | 14.38% |
| 3 | Healthcare | 13.93% |
| 4 | Consumer Discretionary | 9.67% |
| 5 | Industrials | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
SBA Communications
SBAC
$19.5B
| $96.9M | 0.05% |
842,611
-650,000
| -44% | -$76.3M |
|
377
Hormel Foods
HRL
$11.5B
| $96.4M | 0.05% |
3,421,614
+141,074
| +4% | +$3.99M |
|
378
Tapestry
TPR
$23.4B
| $96.4M | 0.05% |
2,785,400
| – | – |
|
|
GMCR
379
DELISTED
KEURIG GREEN MTN INC
GMCR
| $96.1M | 0.05% |
1,253,802
+89,686
| +8% | +$8.81M |
|
380
Clean Harbors
CLH
$16.9B
| $96.1M | 0.05% |
1,787,325
+124,045
| +7% | +$6.92M |
|
381
Fidelity National Financial
FNF
$11.7B
| $96M | 0.05% |
3,737,618
+141,504
| +4% | +$3.65M |
|
382
Brown-Forman Class B
BF.B
$12.1B
| $95.7M | 0.05% |
2,985,931
+179,450
| +6% | +$5.45M |
|
|
LLTC
383
DELISTED
Linear Technology Corp
LLTC
| $95.6M | 0.05% |
2,162,457
+31,861
| +1% | +$1.48M |
|
384
Waters Corp
WAT
$40.9B
| $95.6M | 0.05% |
744,416
+29,904
| +4% | +$3.88M |
|
|
SJR
385
DELISTED
Shaw Communications Inc.
SJR
| $94.7M | 0.05% |
4,344,572
| – | – |
|
386
Celanese
CE
$5.14B
| $94.3M | 0.05% |
1,312,013
| – | – |
|
|
RHT
387
DELISTED
Red Hat Inc
RHT
| $94.3M | 0.05% |
1,241,498
-39,862
| -3% | -$3.06M |
|
388
Equifax
EFX
$19.7B
| $94M | 0.05% |
968,508
+35,959
| +4% | +$3.51M |
|
|
LLL
389
DELISTED
L3 Technologies, Inc.
LLL
| $93.5M | 0.05% |
825,069
-8,532
| -1% | -$1.02M |
|
390
Akamai
AKAM
$15.1B
| $93.3M | 0.05% |
1,336,882
-27,108
| -2% | -$2.01M |
|
391
CBRE Group
CBRE
$40.6B
| $93.2M | 0.05% |
2,519,281
-103,560
| -4% | -$3.93M |
|
392
Southwest Airlines
LUV
$19.2B
| $92.9M | 0.05% |
2,807,333
+385,334
| +16% | +$15.1M |
|
393
Rockwell Automation
ROK
$46.4B
| $92.5M | 0.05% |
741,985
-25,295
| -3% | -$3.05M |
|
394
Tractor Supply
TSCO
$17.2B
| $92M | 0.05% |
5,116,940
| – | – |
|
395
Verisk Analytics
VRSK
$23.7B
| $92M | 0.05% |
1,264,255
| – | – |
|
396
Clorox
CLX
$10.6B
| $91.9M | 0.05% |
883,786
+41,469
| +5% | +$4.47M |
|
|
JNPR
397
DELISTED
Juniper Networks
JNPR
| $91.9M | 0.05% |
3,539,618
-334,217
| -9% | -$8.78M |
|
398
Donaldson
DCI
$10B
| $91.6M | 0.05% |
2,559,671
-275,000
| -10% | -$10M |
|
399
Markel Group
MKL
$22.2B
| $91.6M | 0.05% |
114,396
+2,622
| +2% | +$2.04M |
|
400
EQT Corp
EQT
$33.3B
| $91M | 0.05% |
2,055,408
| – | – |
|
Similar funds
Norges Bank's Q2 2015 Portfolio in Review
As of Q2 2015, Norges Bank held 2,373 positions worth $200B, down 2% from $204B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q2 2015 filing shows 88 new, 744 increased, 614 reduced and 99 closed positions. Its largest new stake was Uniti Group: 1,466,581 shares worth $36.3M. The largest sale was UBS Group, an estimated $2.55B.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q2 2015 buy was Uniti Group: 1,466,581 shares worth $36.3M.
- Norges Bank added most to Wells Fargo in Q2 2015, an estimated $290M increase.
- Norges Bank's biggest Q2 2015 reduction was UBS Group, cutting an estimated $2.55B.
- Norges Bank fully exited Medtronic in Q2 2015, selling an estimated $888M.
- Norges Bank's ten largest holdings make up 14% of its $200B portfolio in Q2 2015.
- Norges Bank opened 88 new positions and closed 99 in Q2 2015.
- Norges Bank's portfolio value fell 2% quarter-over-quarter to $200B.
Based on Norges Bank's 13F filing for Q2 2015, filed 10 Aug 2015.