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 |
Wells Fargo
WFC
|
+$290M |
| 2 |
Kilroy Realty
KRC
|
+$273M |
| 3 |
AT&T
T
|
+$271M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$173M |
| 5 |
Ameriprise Financial
AMP
|
+$163M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UBS Group
UBS
|
+$2.55B |
| 2 |
Medtronic
MDT
|
+$888M |
| 3 |
AGN
Allergan plc
AGN
|
+$875M |
| 4 |
KRFT
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
|
+$360M |
| 5 |
Stellantis
STLA
|
+$320M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.12% |
| 2 | Technology | 14.08% |
| 3 | Healthcare | 13.56% |
| 4 | Consumer Discretionary | 9.53% |
| 5 | Industrials | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Colgate-Palmolive
CL
$74.8B
| $402M | 0.2% |
6,152,238
+66,494
| +1% | +$4.51M |
|
102
Elevance Health
ELV
$81.5B
| $401M | 0.2% |
2,442,906
+55,535
| +2% | +$8.87M |
|
|
MON
103
DELISTED
Monsanto Co
MON
| $399M | 0.2% |
3,744,277
+473,873
| +14% | +$55M |
|
104
Cigna
CI
$78.4B
| $390M | 0.19% |
2,406,396
+16,469
| +0.7% | +$2.27M |
|
105
FedEx
FDX
$73B
| $388M | 0.19% |
2,276,638
+11,404
| +0.5% | +$1.98M |
|
106
EOG Resources
EOG
$77.7B
| $377M | 0.19% |
4,310,456
-33,304
| -0.8% | -$3.08M |
|
107
Regeneron Pharmaceuticals
REGN
$72.9B
| $376M | 0.19% |
736,451
+18,748
| +3% | +$9.15M |
|
108
Phillips 66
PSX
$82.9B
| $373M | 0.19% |
4,629,796
| – | – |
|
|
DTV
109
DELISTED
DIRECTV COM STK (DE)
DTV
| $372M | 0.19% |
4,013,921
+165,237
| +4% | +$14.9M |
|
110
TJX Companies
TJX
$179B
| $371M | 0.19% |
11,220,604
+30,226
| +0.3% | +$1.01M |
|
111
Federal Realty Investment Trust
FRT
$10.9B
| $368M | 0.18% |
2,869,628
+337,293
| +13% | +$45.8M |
|
|
APC
112
DELISTED
Anadarko Petroleum
APC
| $364M | 0.18% |
4,667,815
+106,769
| +2% | +$9.24M |
|
113
Canadian National Railway
CNI
$78.5B
| $354M | 0.18% |
6,134,601
+605,760
| +11% | +$37.9M |
|
114
Capital One
COF
$128B
| $353M | 0.18% |
4,011,940
-345,515
| -8% | -$29M |
|
115
Bank of Montreal
BMO
$123B
| $352M | 0.18% |
5,929,837
| – | – |
|
116
Baxter International
BAX
$12.8B
| $347M | 0.17% |
9,128,659
+537,448
| +6% | +$20.1M |
|
117
Suncor Energy
SU
$77.7B
| $347M | 0.17% |
12,582,800
-281,736
| -2% | -$8.51M |
|
118
PNC Financial Services
PNC
$99.1B
| $338M | 0.17% |
3,533,444
-51,109
| -1% | -$4.83M |
|
119
Duke Energy
DUK
$101B
| $332M | 0.17% |
4,703,642
-85,000
| -2% | -$6.42M |
|
|
DD
120
DELISTED
Du Pont De Nemours E I
DD
| $328M | 0.16% |
5,406,380
| – | – |
|
121
Johnson Controls International
JCI
$85.1B
| $326M | 0.16% |
6,276,193
+570,977
| +10% | +$30.6M |
|
122
Dominion Energy
D
$62B
| $319M | 0.16% |
4,763,195
+25,000
| +0.5% | +$1.76M |
|
123
Liberty Global Class A
LBTYA
$3.59B
| $311M | 0.16% |
6,970,681
+72,156
| +1% | +$3.2M |
|
|
AGU
124
DELISTED
Agrium
AGU
| $310M | 0.15% |
2,919,224
-441,610
| -13% | -$46.5M |
|
125
DuPont de Nemours
DD
$18.6B
| $307M | 0.15% |
2,372,053
| – | – |
|
Similar funds
Norges Bank's Q2 2015 Portfolio in Review
As of Q2 2015, Norges Bank held 2,373 positions worth $200B, down 2% from $204B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank's Q2 2015 filing shows 88 new, 744 increased, 613 reduced and 99 closed positions. Its largest new stake was Uniti Group: 1,466,581 shares worth $36.3M. The largest sale was UBS Group, an estimated $2.55B.
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 Q2 2015 buy was Uniti Group: 1,466,581 shares worth $36.3M.
- Norges Bank added most to Wells Fargo in Q2 2015, an estimated $290M increase.
- Norges Bank's biggest Q2 2015 reduction was UBS Group, cutting an estimated $2.55B.
- Norges Bank fully exited Medtronic in Q2 2015, selling an estimated $888M.
- Norges Bank's ten largest holdings make up 14% of its $200B portfolio in Q2 2015.
- Norges Bank opened 88 new positions and closed 99 in Q2 2015.
- Norges Bank's portfolio value fell 2% quarter-over-quarter to $200B.
Based on Norges Bank's 13F filing for Q2 2015, filed 10 Aug 2015.