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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
EIX icon
176
Edison International
EIX
$30.4B
$236M 0.12%
3,778,496
+52,194
+1% +$3.4M
DE icon
177
Deere & Co
DE
$166B
$229M 0.11%
2,609,543
+447,312
+21% +$39.7M
TYC
178
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
$228M 0.11%
5,055,481
+265,369
+6% +$11.8M
ALXN
179
DELISTED
Alexion Pharmaceuticals
ALXN
$226M 0.11%
1,305,258
-66,493
-5% -$12M
CAT icon
180
Caterpillar
CAT
$363B
$225M 0.11%
2,811,321
-404,470
-13% -$33.6M
ES icon
181
Eversource Energy
ES
$28.1B
$224M 0.11%
4,438,849
+77,379
+2% +$4.07M
CRM icon
182
Salesforce
CRM
$154B
$224M 0.11%
3,355,075
+234,541
+8% +$14.5M
MGA icon
183
Magna International
MGA
$19B
$222M 0.11%
4,157,150
-54,650
-1% -$2.81M
PCAR icon
184
PACCAR
PCAR
$71.7B
$222M 0.11%
5,263,200
– –
SYK icon
185
Stryker
SYK
$134B
$220M 0.11%
2,390,190
+124,497
+5% +$11.6M
BBWI icon
186
Bath & Body Works
BBWI
$3.94B
$219M 0.11%
2,870,562
+33,425
+1% +$2.41M
LBTYK icon
187
Liberty Global Class C
LBTYK
$3.47B
$217M 0.11%
5,386,121
+198,042
+4% +$7.84M
EQIX icon
188
Equinix
EQIX
$100B
$215M 0.11%
923,000
+65,627
+8% +$14.9M
BNY
189
Bank of New York Mellon
BNY
$105B
$214M 0.1%
5,322,096
+699,616
+15% +$27.2M
WMB icon
190
Williams Companies
WMB
$85.5B
$213M 0.1%
4,203,853
+198,077
+5% +$9.18M
AMAT icon
191
Applied Materials
AMAT
$361B
$213M 0.1%
9,421,176
+738,365
+9% +$17.7M
BWA icon
192
BorgWarner
BWA
$12.8B
$212M 0.1%
3,988,714
+220,196
+6% +$11.2M
M icon
193
Macy's
M
$6.49B
$211M 0.1%
3,250,700
+95,960
+3% +$6.18M
AVGO icon
194
Broadcom
AVGO
$1.8T
$210M 0.1%
16,563,450
-606,770
-4% -$6.96M
BHI
195
DELISTED
Baker Hughes
BHI
$210M 0.1%
3,303,134
+500,975
+18% +$30.2M
INTU icon
196
Intuit
INTU
$91.4B
$209M 0.1%
2,153,373
+33,132
+2% +$3.08M
LVS icon
197
Las Vegas Sands
LVS
$32.2B
$208M 0.1%
3,781,433
+70,786
+2% +$3.95M
CSX icon
198
CSX Corp
CSX
$93.5B
$207M 0.1%
18,774,426
+469,086
+3% +$5.39M
WM icon
199
Waste Management
WM
$95.5B
$205M 0.1%
3,785,832
+279,963
+8% +$14.9M
MET icon
200
MetLife
MET
$62.4B
$205M 0.1%
4,542,814
+490,020
+12% +$22M
6 7
8
9 10

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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.