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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
+5.11%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$371B
AUM Growth
+$193B
Cap. Flow
+$180B
Cap. Flow %
48.51%
Top 10 Hldgs %
14.25%
Holding
2,273
New
161
Increased
2,055
Reduced
32
Closed
23

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$3.65B
2
BLK icon
Blackrock
BLK
+$3.58B
3
XOM icon
ExxonMobil
XOM
+$3.23B
4
MSFT icon
Microsoft
MSFT
+$2.54B
5
JNJ icon
Johnson & Johnson
JNJ
+$2.09B

Top Sells

Rank Stock Value
1
WFT
Weatherford International plc
WFT
+$118M
2
BAP icon
Credicorp
BAP
+$98.3M
3
BEAM
BEAM INC COM STK (DE)
BEAM
+$82.2M
4
AON icon
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
PNR icon
76
Pentair
PNR
$10.4B
$976M 0.26%
20,154,601
+9,552,034
+90% +$486M
CELG
77
DELISTED
Celgene Corp
CELG
$970M 0.26%
11,291,908
+5,385,602
+91% +$410M
ABT icon
78
Abbott
ABT
$183B
$966M 0.26%
23,628,014
+11,097,031
+89% +$436M
EBAY icon
79
eBay
EBAY
$50.6B
$917M 0.25%
43,526,357
+21,763,178
+100% +$474M
CB icon
80
Chubb
CB
$135B
$894M 0.24%
8,620,004
+4,317,089
+100% +$442M
LYB icon
81
LyondellBasell Industries
LYB
$20B
$878M 0.24%
8,988,736
+4,214,282
+88% +$401M
NEE icon
82
NextEra Energy
NEE
$181B
$873M 0.24%
34,077,344
+17,038,672
+100% +$414M
AIG icon
83
American International
AIG
$41.7B
$873M 0.24%
15,993,778
+8,096,869
+103% +$429M
BKNG icon
84
Booking.com
BKNG
$149B
$869M 0.23%
18,054,950
+8,984,325
+99% +$431M
EOG icon
85
EOG Resources
EOG
$79.2B
$859M 0.23%
7,348,248
+3,674,124
+100% +$386M
BMO icon
86
Bank of Montreal
BMO
$126B
$856M 0.23%
11,607,234
+5,832,676
+101% +$407M
CNQ icon
87
Canadian Natural Resources
CNQ
$99.4B
$849M 0.23%
38,175,318
+19,189,787
+101% +$384M
ESRX
88
DELISTED
Express Scripts Holding Company
ESRX
$829M 0.22%
11,962,634
+5,981,317
+100% +$421M
COF icon
89
Capital One
COF
$128B
$820M 0.22%
9,933,102
+6,465,479
+186% +$502M
SBUX icon
90
Starbucks
SBUX
$120B
$801M 0.22%
20,705,208
+10,324,442
+99% +$375M
CL icon
91
Colgate-Palmolive
CL
$73.1B
$785M 0.21%
11,513,598
+5,756,799
+100% +$386M
ACN icon
92
Accenture
ACN
$102B
$784M 0.21%
9,698,806
+4,786,652
+97% +$384M
MAC icon
93
Macerich
MAC
$7.33B
$774M 0.21%
11,600,788
+5,800,394
+100% +$379M
BXP icon
94
Boston Properties
BXP
$11.2B
$761M 0.21%
6,442,724
+3,221,362
+100% +$380M
EMC
95
DELISTED
EMC CORPORATION
EMC
$753M 0.2%
28,602,332
+16,041,064
+128% +$424M
MON
96
DELISTED
Monsanto Co
MON
$750M 0.2%
6,012,840
+2,533,134
+73% +$296M
LOW icon
97
Lowe's Companies
LOW
$117B
$748M 0.2%
15,585,998
+7,792,999
+100% +$363M
AGN
98
DELISTED
Allergan Inc
AGN
$736M 0.2%
4,350,066
+2,238,124
+106% +$348M
COST icon
99
Costco
COST
$422B
$735M 0.2%
6,382,994
+3,191,497
+100% +$366M
SPG icon
100
Simon Property Group
SPG
$74.4B
$725M 0.2%
4,360,516
+2,042,902
+88% +$334M
2 3
4
5 6

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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.