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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
+4.62%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$291B
AUM Growth
+$14.9B
Cap. Flow
+$5.34B
Cap. Flow %
1.83%
Top 10 Hldgs %
16.41%
Holding
2,219
New
75
Increased
838
Reduced
618
Closed
85

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$836M
2
EQR icon
Equity Residential
EQR
+$579M
3
EQH icon
Equitable Holdings
EQH
+$351M
4
T icon
AT&T
T
+$345M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$282M

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$657M
2
MON
Monsanto Co
MON
+$486M
3
AAPL icon
Apple
AAPL
+$230M
4
AIG icon
American International
AIG
+$211M
5
SLG icon
SL Green Realty
SLG
+$156M

Sector Composition

Rank Sector Weight
1 Financials 17.72%
2 Technology 17.14%
3 Healthcare 12.81%
4 Consumer Discretionary 11.45%
5 Communication Services 9.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APC
151
DELISTED
Anadarko Petroleum
APC
$394M 0.14%
5,384,333
+187,767
+4% +$12.7M
TMUS icon
152
T-Mobile US
TMUS
$195B
$385M 0.13%
6,447,989
+326,013
+5% +$19.3M
TRP icon
153
TC Energy
TRP
$70.1B
$385M 0.13%
8,897,483
-1,837
-0% -$78K
ZTS icon
154
Zoetis
ZTS
$32.9B
$383M 0.13%
4,495,810
+177,359
+4% +$15M
COF icon
155
Capital One
COF
$130B
$382M 0.13%
4,161,167
+139,511
+3% +$13.2M
TEL icon
156
TE Connectivity
TEL
$60.3B
$382M 0.13%
4,241,210
+671,612
+19% +$64.3M
MPC icon
157
Marathon Petroleum
MPC
$90.5B
$382M 0.13%
5,441,068
-127,187
-2% -$9.71M
FRT icon
158
Federal Realty Investment Trust
FRT
$10.9B
$379M 0.13%
2,992,470
– –
MAR icon
159
Marriott International
MAR
$99.7B
$368M 0.13%
2,905,016
+73,625
+3% +$10M
CM icon
160
Canadian Imperial Bank of Commerce
CM
$107B
$367M 0.13%
8,439,206
+59,220
+0.7% +$2.61M
HPQ icon
161
HP
HPQ
$26.1B
$363M 0.12%
15,996,654
-417,415
-3% -$9.31M
TFC icon
162
Truist Financial
TFC
$64.5B
$358M 0.12%
7,106,061
-222,912
-3% -$11.8M
ICE icon
163
Intercontinental Exchange
ICE
$87.5B
$353M 0.12%
4,797,893
+258,660
+6% +$18.8M
LYB icon
164
LyondellBasell Industries
LYB
$19.7B
$352M 0.12%
3,202,821
– –
KMI icon
165
Kinder Morgan
KMI
$70.9B
$349M 0.12%
19,779,183
+156,054
+0.8% +$2.55M
ILMN icon
166
Illumina
ILMN
$29B
$347M 0.12%
1,276,471
+27,654
+2% +$7.04M
NXPI icon
167
NXP Semiconductors
NXPI
$60.9B
$345M 0.12%
3,155,612
+74,308
+2% +$8.19M
ADI icon
168
Analog Devices
ADI
$173B
$344M 0.12%
3,587,348
+43,273
+1% +$4.08M
STT icon
169
State Street
STT
$48.9B
$343M 0.12%
3,686,393
+168,478
+5% +$16.7M
LVS icon
170
Las Vegas Sands
LVS
$32B
$342M 0.12%
4,472,940
+14,342
+0.3% +$1.1M
BN icon
171
Brookfield
BN
$102B
$340M 0.12%
23,498,064
+311,521
+1% +$4.45M
EQH icon
172
Equitable Holdings
EQH
$13.2B
$340M 0.12%
+16,478,469
New +$351M
EBAY icon
173
eBay
EBAY
$51.5B
$335M 0.12%
9,239,731
+317,784
+4% +$12.4M
CCI icon
174
Crown Castle
CCI
$33.2B
$333M 0.11%
3,088,298
-274,160
-8% -$28.5M
AFL icon
175
Aflac
AFL
$66B
$330M 0.11%
7,678,940
-422,932
-5% -$19M
5 6
7
8 9

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Norges Bank's Q2 2018 Portfolio in Review

As of Q2 2018, Norges Bank held 2,219 positions worth $291B, up 5.4% from $276B the previous quarter. Its ten largest holdings account for 16% of the portfolio.

Norges Bank's Q2 2018 filing shows 75 new, 838 increased, 618 reduced and 85 closed positions. Its largest new stake was Equitable Holdings: 16,478,469 shares worth $340M. The largest sale was Time Warner Inc, an estimated $657M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.

  • Norges Bank's largest Q2 2018 buy was Equitable Holdings: 16,478,469 shares worth $340M.
  • Norges Bank added most to Alibaba in Q2 2018, an estimated $836M increase.
  • Norges Bank's biggest Q2 2018 reduction was Apple, cutting an estimated $230M.
  • Norges Bank fully exited Time Warner Inc in Q2 2018, selling an estimated $657M.
  • Norges Bank's ten largest holdings make up 16% of its $291B portfolio in Q2 2018.
  • Norges Bank opened 75 new positions and closed 85 in Q2 2018.
  • Norges Bank's portfolio value rose 5.4% quarter-over-quarter to $291B.

Based on Norges Bank's 13F filing for Q2 2018, filed 23 Jul 2018.