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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
+3.11%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$252B
AUM Growth
+$8.22B
Cap. Flow
+$2.68B
Cap. Flow %
1.06%
Top 10 Hldgs %
14.79%
Holding
2,216
New
77
Increased
1,043
Reduced
752
Closed
90

Top Buys

Rank Stock Value
1
DD
Du Pont De Nemours E I
DD
+$334M
2
AABA
Altaba Inc
AABA
+$288M
3
CB icon
Chubb
CB
+$238M
4
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$235M
5
META icon
Meta Platforms (Facebook)
META
+$229M

Top Sells

Rank Stock Value
1
BLK icon
Blackrock
BLK
+$1.25B
2
PRU icon
Prudential Financial
PRU
+$897M
3
YHOO
Yahoo Inc
YHOO
+$318M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$313M
5
AFL icon
Aflac
AFL
+$312M

Sector Composition

Rank Sector Weight
1 Financials 18.76%
2 Technology 15.09%
3 Healthcare 13.88%
4 Consumer Discretionary 9.67%
5 Industrials 9.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MCK icon
151
McKesson
MCK
$106B
$341M 0.14%
2,072,575
+159,636
+8% +$24.2M
MET icon
152
MetLife
MET
$62.7B
$339M 0.13%
6,921,318
-180,346
-3% -$8.37M
KRC icon
153
Kilroy Realty
KRC
$4.66B
$336M 0.13%
4,470,686
– –
WCN
154
Waste Connections
WCN
$43.8B
$330M 0.13%
5,117,311
-105,554
-2% -$6.56M
NSC icon
155
Norfolk Southern
NSC
$75.9B
$329M 0.13%
2,704,175
-190,146
-7% -$22.3M
WM icon
156
Waste Management
WM
$97.5B
$327M 0.13%
4,464,193
+19,078
+0.4% +$1.39M
CTSH icon
157
Cognizant
CTSH
$25.8B
$326M 0.13%
4,914,659
-1,013,703
-17% -$64.4M
CM icon
158
Canadian Imperial Bank of Commerce
CM
$107B
$323M 0.13%
7,968,134
+721,590
+10% +$29.1M
VLO icon
159
Valero Energy
VLO
$90.8B
$323M 0.13%
4,792,106
+317,467
+7% +$20.6M
D icon
160
Dominion Energy
D
$62.3B
$322M 0.13%
4,205,360
+74,227
+2% +$5.83M
ATVI
161
DELISTED
Activision Blizzard
ATVI
$322M 0.13%
5,594,801
+449,146
+9% +$24.8M
HPQ icon
162
HP
HPQ
$26.1B
$315M 0.13%
18,009,700
+197,437
+1% +$3.62M
CC icon
163
Chemours
CC
$2.45B
$312M 0.12%
8,215,016
+1,186,314
+17% +$46.8M
AXTA icon
164
Axalta
AXTA
$7.49B
$310M 0.12%
9,663,666
+3,093,198
+47% +$98.8M
BN icon
165
Brookfield
BN
$101B
$309M 0.12%
22,094,312
+866,008
+4% +$11.7M
CME icon
166
CME Group
CME
$94.7B
$307M 0.12%
2,454,513
– –
ISRG icon
167
Intuitive Surgical
ISRG
$128B
$307M 0.12%
2,953,539
+430,956
+17% +$41.4M
TGT icon
168
Target
TGT
$66.4B
$307M 0.12%
5,869,291
– –
EBAY icon
169
eBay
EBAY
$51.4B
$307M 0.12%
8,788,334
-699,162
-7% -$23.9M
HLT icon
170
Hilton Worldwide
HLT
$72.4B
$306M 0.12%
4,943,345
-3,904,636
-44% -$243M
TRV icon
171
Travelers Companies
TRV
$82.6B
$304M 0.12%
2,398,857
+342,433
+17% +$42.1M
GIS icon
172
General Mills
GIS
$20.4B
$302M 0.12%
5,456,953
+108,960
+2% +$6.22M
GM icon
173
General Motors
GM
$81.7B
$302M 0.12%
8,636,196
+982,224
+13% +$33.4M
EA icon
174
Electronic Arts
EA
$52.4B
$301M 0.12%
2,849,148
+566,183
+25% +$58.3M
MPC icon
175
Marathon Petroleum
MPC
$90.8B
$299M 0.12%
5,712,287
+147,356
+3% +$7.61M
5 6
7
8 9

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Norges Bank's Q2 2017 Portfolio in Review

As of Q2 2017, Norges Bank held 2,216 positions worth $252B, up 3.4% from $244B the previous quarter. Its ten largest holdings account for 15% of the portfolio.

Norges Bank's Q2 2017 filing shows 77 new, 1,043 increased, 752 reduced and 90 closed positions. Its largest new stake was Altaba Inc: 5,288,554 shares worth $288M. The largest sale was Blackrock, an estimated $1.25B.

By sector, the portfolio is most concentrated in Financials at 19% of assets, up from 19% a quarter earlier, followed by Technology and Healthcare.

  • Norges Bank's largest Q2 2017 buy was Altaba Inc: 5,288,554 shares worth $288M.
  • Norges Bank added most to Du Pont De Nemours E I in Q2 2017, an estimated $334M increase.
  • Norges Bank's biggest Q2 2017 reduction was Blackrock, cutting an estimated $1.25B.
  • Norges Bank fully exited Yahoo Inc in Q2 2017, selling an estimated $318M.
  • Norges Bank's ten largest holdings make up 15% of its $252B portfolio in Q2 2017.
  • Norges Bank opened 77 new positions and closed 90 in Q2 2017.
  • Norges Bank's portfolio value rose 3.4% quarter-over-quarter to $252B.

Based on Norges Bank's 13F filing for Q2 2017, filed 2 Aug 2017.