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 | |
|---|---|---|---|---|---|---|
101
Phillips 66
PSX
$84.9B
| $725M | 0.2% |
9,011,390
+4,245,938
| +89% | +$350M |
|
102
Canadian National Railway
CNI
$76.9B
| $721M | 0.19% |
11,059,466
+5,983,965
| +118% | +$356M |
|
103
FedEx
FDX
$72.7B
| $713M | 0.19% |
4,712,710
+2,269,018
| +93% | +$317M |
|
104
Goldman Sachs
GS
$300B
| $712M | 0.19% |
4,254,730
+2,323,085
| +120% | +$375M |
|
105
Enbridge
ENB
$119B
| $702M | 0.19% |
14,770,330
+7,400,996
| +100% | +$351M |
|
106
Federal Realty Investment Trust
FRT
$10.7B
| $687M | 0.19% |
5,677,580
+2,838,790
| +100% | +$335M |
|
107
Omnicom Group
OMC
$21.6B
| $678M | 0.18% |
9,520,916
+5,215,458
| +121% | +$363M |
|
108
Thermo Fisher Scientific
TMO
$213B
| $677M | 0.18% |
5,736,180
+2,885,536
| +101% | +$340M |
|
109
Texas Instruments
TXN
$252B
| $677M | 0.18% |
14,159,870
+7,786,248
| +122% | +$363M |
|
|
DD
110
DELISTED
Du Pont De Nemours E I
DD
| $669M | 0.18% |
10,757,760
+5,378,880
| +100% | +$346M |
|
111
Dominion Energy
D
$60.8B
| $661M | 0.18% |
9,247,194
+4,620,342
| +100% | +$324M |
|
112
Prologis
PLD
$135B
| $661M | 0.18% |
16,095,150
+8,047,575
| +100% | +$331M |
|
113
Caterpillar
CAT
$375B
| $654M | 0.18% |
6,017,334
+2,670,443
| +80% | +$280M |
|
114
Canadian Imperial Bank of Commerce
CM
$108B
| $653M | 0.18% |
14,614,137
+7,237,567
| +98% | +$315M |
|
|
AGU
115
DELISTED
Agrium
AGU
| $652M | 0.18% |
7,101,694
+3,806,088
| +115% | +$353M |
|
116
Canadian Pacific Kansas City
CP
$78.1B
| $645M | 0.17% |
17,779,490
+8,169,745
| +85% | +$268M |
|
117
Bausch Health
BHC
$2.57B
| $635M | 0.17% |
5,025,820
+2,534,864
| +102% | +$323M |
|
118
Liberty Global Class C
LBTYK
$3.53B
| $634M | 0.17% |
18,517,517
+9,258,759
| +100% | +$306M |
|
119
Micron Technology
MU
$930B
| $631M | 0.17% |
19,162,516
+9,798,458
| +105% | +$267M |
|
120
Duke Energy
DUK
$97.8B
| $627M | 0.17% |
8,451,746
+4,338,660
| +105% | +$312M |
|
121
Kimberly-Clark
KMB
$36.3B
| $626M | 0.17% |
5,874,468
+2,937,234
| +100% | +$312M |
|
|
COV
122
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| $624M | 0.17% |
6,919,674
+3,459,837
| +100% | +$259M |
|
123
McKesson
MCK
$100B
| $616M | 0.17% |
3,308,294
+1,654,147
| +100% | +$294M |
|
124
Johnson Controls International
JCI
$88.8B
| $616M | 0.17% |
11,780,565
+4,547,668
| +63% | +$226M |
|
125
APA Corp
APA
$13.2B
| $608M | 0.16% |
6,046,684
+3,023,342
| +100% | +$274M |
|
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.