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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
+2.17%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$204B
AUM Growth
+$7.29B
Cap. Flow
+$5.19B
Cap. Flow %
2.54%
Top 10 Hldgs %
13.96%
Holding
2,408
New
58
Increased
867
Reduced
848
Closed
123

Top Buys

Rank Stock Value
1
PRU icon
Prudential Financial
PRU
+$520M
2
AGN
Allergan plc
AGN
+$334M
3
MDT icon
Medtronic
MDT
+$272M
4
VNO icon
Vornado Realty Trust
VNO
+$240M
5
SLG icon
SL Green Realty
SLG
+$215M

Top Sells

Rank Stock Value
1
BLK icon
Blackrock
BLK
+$586M
2
AGN
Allergan Inc
AGN
+$454M
3
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
+$354M
4
AMT icon
American Tower
AMT
+$194M
5
PFE icon
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
NKE icon
101
Nike
NKE
$63.3B
$393M 0.19%
7,831,818
+315,030
+4% +$15.1M
TJX icon
102
TJX Companies
TJX
$177B
$392M 0.19%
11,190,378
+437,654
+4% +$14.9M
GS icon
103
Goldman Sachs
GS
$298B
$387M 0.19%
2,059,415
+145,155
+8% +$27M
APC
104
DELISTED
Anadarko Petroleum
APC
$378M 0.19%
4,561,046
+259,480
+6% +$21.2M
SU icon
105
Suncor Energy
SU
$77.3B
$376M 0.18%
12,864,536
-285,895
-2% -$8.5M
FDX icon
106
FedEx
FDX
$73.6B
$375M 0.18%
2,265,234
+54,432
+2% +$9.45M
FRT icon
107
Federal Realty Investment Trust
FRT
$10.9B
$373M 0.18%
2,532,335
-3,019
-0.1% -$433K
PX
108
DELISTED
Praxair Inc
PX
$371M 0.18%
3,074,934
+404,982
+15% +$50.7M
CNI icon
109
Canadian National Railway
CNI
$78.3B
$370M 0.18%
5,528,841
+147,186
+3% +$10M
ELV icon
110
Elevance Health
ELV
$83.3B
$369M 0.18%
2,387,371
+85,949
+4% +$12.2M
MON
111
DELISTED
Monsanto Co
MON
$368M 0.18%
3,270,404
+147,777
+5% +$17.6M
DUK icon
112
Duke Energy
DUK
$101B
$368M 0.18%
4,788,642
-903,451
-16% -$73.3M
DD
113
DELISTED
Du Pont De Nemours E I
DD
$367M 0.18%
5,406,380
+88,846
+2% +$6.34M
PSX icon
114
Phillips 66
PSX
$84.3B
$364M 0.18%
4,629,796
+250,876
+6% +$18.4M
KRFT
115
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
$360M 0.18%
4,135,488
-274,596
-6% -$18.1M
BMO icon
116
Bank of Montreal
BMO
$125B
$355M 0.17%
5,929,837
+347,597
+6% +$21.6M
AGU
117
DELISTED
Agrium
AGU
$350M 0.17%
3,360,834
-168,604
-5% -$18M
COF icon
118
Capital One
COF
$130B
$343M 0.17%
4,357,455
+226,640
+5% +$17.8M
AET
119
DELISTED
Aetna Inc
AET
$338M 0.17%
3,176,267
+147,890
+5% +$14.5M
D icon
120
Dominion Energy
D
$62.6B
$336M 0.16%
4,738,195
+130,266
+3% +$9.66M
OMC icon
121
Omnicom Group
OMC
$23.3B
$335M 0.16%
4,301,185
+210,727
+5% +$16.1M
PNC icon
122
PNC Financial Services
PNC
$100B
$334M 0.16%
3,584,553
+65,332
+2% +$5.9M
TWC
123
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$332M 0.16%
2,215,744
+834,365
+60% +$124M
DTV
124
DELISTED
DIRECTV COM STK (DE)
DTV
$328M 0.16%
3,848,684
+1,267,285
+49% +$109M
YHOO
125
DELISTED
Yahoo Inc
YHOO
$325M 0.16%
7,319,605
+179,493
+3% +$8.12M
3 4
5
6 7

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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.