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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
EXC icon
151
Exelon
EXC
$48.4B
$273M 0.13%
11,377,158
+315,859
+3% +$7.82M
CCI icon
152
Crown Castle
CCI
$33.2B
$272M 0.13%
3,295,668
+2,495,806
+312% +$213M
MS icon
153
Morgan Stanley
MS
$321B
$271M 0.13%
7,600,882
+720,183
+10% +$25.8M
ITW icon
154
Illinois Tool Works
ITW
$84B
$271M 0.13%
2,788,204
+181,002
+7% +$17.4M
CTSH icon
155
Cognizant
CTSH
$26.5B
$267M 0.13%
4,276,211
-537,583
-11% -$31.7M
CM icon
156
Canadian Imperial Bank of Commerce
CM
$107B
$266M 0.13%
7,330,724
+333,395
+5% +$12.4M
SRE icon
157
Sempra
SRE
$58.8B
$263M 0.13%
4,830,400
+377,830
+8% +$20.8M
GLW icon
158
Corning
GLW
$108B
$262M 0.13%
11,540,818
+1,252,604
+12% +$29.8M
ADBE icon
159
Adobe
ADBE
$105B
$260M 0.13%
3,513,876
+192,842
+6% +$14.4M
YUM icon
160
Yum! Brands
YUM
$42.1B
$257M 0.13%
4,537,445
-164,086
-3% -$8.96M
PPG icon
161
PPG Industries
PPG
$25.1B
$254M 0.12%
2,250,036
+157,606
+8% +$18.1M
SO icon
162
Southern Company
SO
$109B
$253M 0.12%
5,703,412
+164,452
+3% +$7.81M
GIS icon
163
General Mills
GIS
$20.5B
$249M 0.12%
4,397,318
-61,510
-1% -$3.28M
ECL icon
164
Ecolab
ECL
$79.2B
$247M 0.12%
2,160,583
+36,093
+2% +$3.95M
BDX icon
165
Becton Dickinson
BDX
$46.3B
$246M 0.12%
1,756,945
+207,515
+13% +$29.1M
HUM icon
166
Humana
HUM
$43.6B
$246M 0.12%
1,381,961
+86,829
+7% +$13.7M
CME icon
167
CME Group
CME
$95.5B
$245M 0.12%
2,591,532
+150,156
+6% +$13.9M
FNV icon
168
Franco-Nevada
FNV
$40.3B
$245M 0.12%
5,064,390
+35,268
+0.7% +$1.83M
TEL icon
169
TE Connectivity
TEL
$60.6B
$245M 0.12%
3,423,501
+89,047
+3% +$6.12M
AEP icon
170
American Electric Power
AEP
$71.7B
$240M 0.12%
4,266,338
+1,420,000
+50% +$84.3M
MU icon
171
Micron Technology
MU
$877B
$240M 0.12%
8,835,857
+670,444
+8% +$20M
CAH icon
172
Cardinal Health
CAH
$54.7B
$240M 0.12%
2,654,574
-22,359
-0.8% -$1.92M
PCP
173
DELISTED
PRECISION CASTPARTS CORP
PCP
$238M 0.12%
1,134,462
+56,041
+5% +$11.9M
MPC icon
174
Marathon Petroleum
MPC
$90.7B
$238M 0.12%
4,651,826
+154,162
+3% +$7.4M
VFC icon
175
VF Corp
VFC
$5.87B
$236M 0.12%
3,329,237
-52,225
-2% -$3.62M
5 6
7
8 9

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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.