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 | |
|---|---|---|---|---|---|---|
|
HCC
701
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
| $45M | 0.02% |
793,778
-74,394
| -9% | -$4.12M |
|
702
GSK
GSK
$104B
| $44.8M | 0.02% |
776,752
| – | – |
|
703
Cameco
CCJ
$38.4B
| $44.8M | 0.02% |
3,214,846
+70,382
| +2% | +$1.05M |
|
704
DNOW Inc
DNOW
$2.51B
| $44.8M | 0.02% |
2,068,296
+726,499
| +54% | +$16.9M |
|
|
CVC
705
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
| $44.7M | 0.02% |
2,441,687
+124,072
| +5% | +$2.38M |
|
706
AvalonBay Communities
AVB
$26.8B
| $44.6M | 0.02% |
255,941
-177,280
| -41% | -$30.6M |
|
707
Hain Celestial
HAIN
$44.4M
| $44.6M | 0.02% |
695,584
-53,296
| -7% | -$3.15M |
|
708
NCR Voyix
VYX
$1.12B
| $44.2M | 0.02% |
2,443,822
+90,032
| +4% | +$1.56M |
|
|
DISCK
709
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $44.2M | 0.02% |
1,498,953
-675,556
| -31% | -$20.4M |
|
|
TEG
710
DELISTED
INTEGRYS ENERGY GROUP INC COM (USA)
TEG
| $44.1M | 0.02% |
612,604
-21,653
| -3% | -$1.66M |
|
711
SEI Investments
SEIC
$12.4B
| $44.1M | 0.02% |
1,000,304
+1,950
| +0.2% | +$81.8K |
|
|
ESV
712
DELISTED
Ensco Rowan plc
ESV
| $44.1M | 0.02% |
522,934
+42,599
| +9% | +$4.49M |
|
713
Starwood Property Trust
STWD
$6.02B
| $43.7M | 0.02% |
1,798,512
+57,194
| +3% | +$1.38M |
|
714
Lennox International
LII
$14.4B
| $43.6M | 0.02% |
389,979
-13,767
| -3% | -$1.42M |
|
|
BRSL
715
Brightstar Lottery PLC
BRSL
$1.87B
| $43.4M | 0.02% |
2,494,631
| – | – |
|
|
DRC
716
DELISTED
DRESSER-RAND GROUP INC
DRC
| $43.4M | 0.02% |
539,723
-58,541
| -10% | -$4.74M |
|
717
Lincoln Electric
LECO
$13.7B
| $43.4M | 0.02% |
663,094
-5,817
| -0.9% | -$394K |
|
718
Zillow
ZG
$7.79B
| $43.2M | 0.02% |
1,292,919
+474,234
| +58% | +$16.8M |
|
719
Pitney Bowes
PBI
$2.46B
| $43.2M | 0.02% |
1,852,179
+42,978
| +2% | +$1M |
|
720
Nucor
NUE
$58.5B
| $43.2M | 0.02% |
907,976
+110,646
| +14% | +$5.17M |
|
721
Domino's
DPZ
$11.7B
| $43.1M | 0.02% |
428,374
-31,895
| -7% | -$3.21M |
|
722
ON Semiconductor
ON
$32.6B
| $43.1M | 0.02% |
3,556,747
-323,781
| -8% | -$3.71M |
|
|
FRC
723
DELISTED
First Republic Bank
FRC
| $43M | 0.02% |
753,757
-77,290
| -9% | -$4.2M |
|
724
Puma Biotechnology
PBYI
$402M
| $43M | 0.02% |
182,112
+7,211
| +4% | +$1.54M |
|
|
BRFS
725
DELISTED
BRF SA
BRFS
| $42.9M | 0.02% |
2,168,197
| – | – |
|
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.