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 |
Apple
AAPL
|
+$3.65B |
| 2 |
Blackrock
BLK
|
+$3.58B |
| 3 |
ExxonMobil
XOM
|
+$3.23B |
| 4 |
Microsoft
MSFT
|
+$2.54B |
| 5 |
Johnson & Johnson
JNJ
|
+$2.09B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WFT
Weatherford International plc
WFT
|
+$118M |
| 2 |
Credicorp
BAP
|
+$98.3M |
| 3 |
BEAM
BEAM INC COM STK (DE)
BEAM
|
+$82.2M |
| 4 |
Aon
AON
|
+$63.8M |
| 5 |
LSI
LSI CORPORATION
LSI
|
+$47.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.06% |
| 2 | Technology | 13.25% |
| 3 | Healthcare | 12.14% |
| 4 | Energy | 10.19% |
| 5 | Industrials | 9.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
Manulife Financial
MFC
$73.9B
| $121M | 0.03% |
6,095,120
+2,434,284
| +66% | +$46M |
|
527
Equifax
EFX
$20.3B
| $121M | 0.03% |
1,671,294
+900,373
| +117% | +$63.2M |
|
528
Mettler-Toledo International
MTD
$28.6B
| $121M | 0.03% |
478,738
+235,231
| +97% | +$56.5M |
|
529
TransDigm Group
TDG
$70.2B
| $121M | 0.03% |
724,044
+423,322
| +141% | +$76.3M |
|
530
Marvell Technology
MRVL
$168B
| $121M | 0.03% |
8,438,072
+4,512,491
| +115% | +$69.5M |
|
531
Cintas
CTAS
$81.9B
| $121M | 0.03% |
7,585,792
+3,792,896
| +100% | +$57.4M |
|
|
FDO
532
DELISTED
FAMILY DOLLAR STORES
FDO
| $120M | 0.03% |
1,817,234
+942,782
| +108% | +$56.8M |
|
533
McCormick & Company Non-Voting
MKC
$13.7B
| $120M | 0.03% |
3,356,156
+1,734,004
| +107% | +$61.9M |
|
534
DTE Energy
DTE
$29.5B
| $120M | 0.03% |
1,812,684
+968,701
| +115% | +$62.9M |
|
535
UDR
UDR
$12.3B
| $120M | 0.03% |
4,195,084
+2,097,542
| +100% | +$56.5M |
|
536
D.R. Horton
DHI
$40B
| $120M | 0.03% |
4,876,818
+2,438,409
| +100% | +$55.7M |
|
|
IHS
537
DELISTED
IHS INC CL-A COM STK
IHS
| $119M | 0.03% |
879,868
+456,657
| +108% | +$57M |
|
538
Quanta Services
PWR
$100B
| $119M | 0.03% |
3,445,528
+1,722,764
| +100% | +$59.6M |
|
539
Progressive
PGR
$123B
| $119M | 0.03% |
4,690,850
+2,262,299
| +93% | +$56M |
|
|
CBI
540
DELISTED
Chicago Bridge & Iron Nv
CBI
| $119M | 0.03% |
1,739,554
+869,777
| +100% | +$69.2M |
|
541
Herbalife
HLF
$1.29B
| $119M | 0.03% |
3,673,332
+1,836,666
| +100% | +$56.3M |
|
542
Tractor Supply
TSCO
$16.1B
| $118M | 0.03% |
9,774,230
+5,036,930
| +106% | +$66M |
|
543
Flex
FLEX
$41.7B
| $118M | 0.03% |
14,127,518
+7,625,608
| +117% | +$57.4M |
|
544
Gildan
GIL
$10.3B
| $118M | 0.03% |
3,992,128
+2,033,650
| +104% | +$54.3M |
|
545
ManpowerGroup
MAN
$2.44B
| $118M | 0.03% |
1,388,114
+694,057
| +100% | +$56.5M |
|
546
Vermilion Energy
VET
$1.82B
| $118M | 0.03% |
1,689,440
+873,534
| +107% | +$58.2M |
|
547
Southwest Airlines
LUV
$22B
| $118M | 0.03% |
4,383,954
+2,274,656
| +108% | +$57.3M |
|
|
FLG
548
Flagstar Bank National Association
FLG
$5.93B
| $118M | 0.03% |
2,451,994
+1,225,997
| +100% | +$57.5M |
|
549
Allstate
ALL
$68B
| $117M | 0.03% |
1,997,928
+932,971
| +88% | +$53.8M |
|
550
Methanex
MEOH
$4.3B
| $117M | 0.03% |
1,885,938
+942,969
| +100% | +$57.9M |
|
Similar funds
Norges Bank's Q2 2014 Portfolio in Review
As of Q2 2014, Norges Bank held 2,273 positions worth $371B, up 109% from $177B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank deployed $180B of net new capital in Q2 2014, opening 161 new positions and adding to 2,055 existing holdings. Its largest new stake was IMS HEALTH HLDGS INC COM STK (DE): 6,500,000 shares worth $167M.
By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Weatherford International plc, an estimated $118M trimmed.
- Norges Bank's largest Q2 2014 buy was IMS HEALTH HLDGS INC COM STK (DE): 6,500,000 shares worth $167M.
- Norges Bank added most to Apple in Q2 2014, an estimated $3.65B increase.
- Norges Bank's biggest Q2 2014 reduction was Weatherford International plc, cutting an estimated $118M.
- Norges Bank fully exited Credicorp in Q2 2014, selling an estimated $98.3M.
- Norges Bank's ten largest holdings make up 14% of its $371B portfolio in Q2 2014.
- Norges Bank opened 161 new positions and closed 23 in Q2 2014.
- Norges Bank's portfolio value rose 109% quarter-over-quarter to $371B.
Based on Norges Bank's 13F filing for Q2 2014, filed 8 Aug 2014.