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 |
Prudential Financial
PRU
|
+$520M |
| 2 |
AGN
Allergan plc
AGN
|
+$334M |
| 3 |
Medtronic
MDT
|
+$272M |
| 4 |
Vornado Realty Trust
VNO
|
+$240M |
| 5 |
SL Green Realty
SLG
|
+$215M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$586M |
| 2 |
AGN
Allergan Inc
AGN
|
+$454M |
| 3 |
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
|
+$354M |
| 4 |
American Tower
AMT
|
+$194M |
| 5 |
Pfizer
PFE
|
+$177M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.16% |
| 2 | Technology | 14% |
| 3 | Healthcare | 13.8% |
| 4 | Industrials | 9.48% |
| 5 | Consumer Discretionary | 9.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JNPR
426
DELISTED
Juniper Networks
JNPR
| $87.5M | 0.04% |
3,873,835
+277,994
| +8% | +$6.41M |
|
427
Tractor Supply
TSCO
$16.3B
| $87M | 0.04% |
5,116,940
-57,085
| -1% | -$954K |
|
428
Equifax
EFX
$22B
| $86.7M | 0.04% |
932,549
+15,692
| +2% | +$1.39M |
|
429
Qorvo
QRVO
$7.9B
| $86.6M | 0.04% |
+1,086,355
| New | +$77.4M |
|
430
Murphy Oil
MUR
$5.55B
| $86.4M | 0.04% |
1,854,964
+185,564
| +11% | +$8.97M |
|
431
Markel Group
MKL
$25.2B
| $86M | 0.04% |
111,774
+5,708
| +5% | +$4.13M |
|
432
Telus
TU
$17.4B
| $85.9M | 0.04% |
+5,170,044
| New | +$89.4M |
|
433
Under Armour
UAA
$3.01B
| $85.5M | 0.04% |
2,132,153
| – | – |
|
434
United Airlines
UAL
$38.8B
| $85.3M | 0.04% |
1,268,985
+64,964
| +5% | +$4.4M |
|
435
Tetra Tech
TTEK
$8.77B
| $85.2M | 0.04% |
17,739,180
+4,090,485
| +30% | +$20.2M |
|
|
MXIM
436
DELISTED
Maxim Integrated Products
MXIM
| $84.6M | 0.04% |
2,431,249
+58,061
| +2% | +$1.98M |
|
|
VRN
437
DELISTED
Veren
VRN
| $84.5M | 0.04% |
3,902,402
+63,085
| +2% | +$1.44M |
|
438
Masco
MAS
$14.3B
| $84.4M | 0.04% |
3,597,169
+86,580
| +2% | +$1.96M |
|
439
Cincinnati Financial
CINF
$27.8B
| $84.1M | 0.04% |
1,577,576
+173,442
| +12% | +$9.08M |
|
|
XEC
440
DELISTED
CIMAREX ENERGY CO
XEC
| $83.8M | 0.04% |
727,976
+4,612
| +0.6% | +$495K |
|
441
Everest Group
EG
$15.6B
| $83.6M | 0.04% |
480,359
+13,860
| +3% | +$2.44M |
|
442
DTE Energy
DTE
$29.9B
| $83.5M | 0.04% |
1,215,585
+128,097
| +12% | +$9.2M |
|
443
Ball Corp
BALL
$17.5B
| $83.5M | 0.04% |
2,363,306
| – | – |
|
444
Cintas
CTAS
$86.6B
| $83.3M | 0.04% |
4,081,776
+165,304
| +4% | +$3.35M |
|
445
Ashland
ASH
$3.34B
| $83.1M | 0.04% |
1,333,540
-31,846
| -2% | -$1.93M |
|
446
TransDigm Group
TDG
$70.7B
| $82.6M | 0.04% |
377,815
+5,011
| +1% | +$1.06M |
|
|
KSU
447
DELISTED
Kansas City Southern
KSU
| $82.5M | 0.04% |
808,551
+47,212
| +6% | +$5.35M |
|
448
Darden Restaurants
DRI
$24.3B
| $82.4M | 0.04% |
1,329,482
+51,413
| +4% | +$2.88M |
|
|
CTXS
449
DELISTED
Citrix Systems Inc
CTXS
| $82.2M | 0.04% |
1,616,637
+32,185
| +2% | +$1.58M |
|
|
VAR
450
DELISTED
Varian Medical Systems, Inc.
VAR
| $82.1M | 0.04% |
994,873
| – | – |
|
Similar funds
Norges Bank's Q1 2015 Portfolio in Review
As of Q1 2015, Norges Bank held 2,408 positions worth $204B, up 3.7% from $197B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q1 2015 filing shows 58 new, 867 increased, 848 reduced and 123 closed positions. Its largest new stake was Telus: 5,170,044 shares worth $85.9M. The largest sale was Blackrock, an estimated $586M.
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 Q1 2015 buy was Telus: 5,170,044 shares worth $85.9M.
- Norges Bank added most to Prudential Financial in Q1 2015, an estimated $520M increase.
- Norges Bank's biggest Q1 2015 reduction was Blackrock, cutting an estimated $586M.
- Norges Bank fully exited Allergan Inc in Q1 2015, selling an estimated $454M.
- Norges Bank's ten largest holdings make up 14% of its $204B portfolio in Q1 2015.
- Norges Bank opened 58 new positions and closed 123 in Q1 2015.
- Norges Bank's portfolio value rose 3.7% quarter-over-quarter to $204B.
Based on Norges Bank's 13F filing for Q1 2015, filed 11 May 2015.