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 |
Apple
AAPL
|
+$3.65B |
| 2 |
Blackrock
BLK
|
+$3.58B |
| 3 |
ExxonMobil
XOM
|
+$3.23B |
| 4 |
Microsoft
MSFT
|
+$2.54B |
| 5 |
Johnson & Johnson
JNJ
|
+$2.09B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WFT
Weatherford International plc
WFT
|
+$118M |
| 2 |
Credicorp
BAP
|
+$98.3M |
| 3 |
BEAM
BEAM INC COM STK (DE)
BEAM
|
+$82.2M |
| 4 |
Aon
AON
|
+$63.8M |
| 5 |
LSI
LSI CORPORATION
LSI
|
+$47.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.06% |
| 2 | Technology | 13.25% |
| 3 | Healthcare | 12.14% |
| 4 | Energy | 10.19% |
| 5 | Industrials | 9.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Liberty Global Class A
LBTYA
$3.62B
| $366M | 0.1% |
10,042,145
+5,051,846
| +101% | +$177M |
|
202
Regeneron Pharmaceuticals
REGN
$78.5B
| $366M | 0.1% |
1,294,846
+652,285
| +102% | +$193M |
|
203
Macy's
M
$6.53B
| $365M | 0.1% |
6,294,450
+3,129,855
| +99% | +$182M |
|
204
Edison International
EIX
$28.2B
| $363M | 0.1% |
6,246,634
+3,173,317
| +103% | +$178M |
|
205
International Paper
IP
$21.6B
| $360M | 0.1% |
7,629,623
+3,814,812
| +100% | +$167M |
|
206
Salesforce
CRM
$151B
| $358M | 0.1% |
6,156,578
+3,078,289
| +100% | +$166M |
|
207
Cardinal Health
CAH
$53.9B
| $357M | 0.1% |
5,203,340
+2,601,670
| +100% | +$177M |
|
|
TWC
208
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $357M | 0.1% |
2,421,628
+983,147
| +68% | +$138M |
|
209
M&T Bank
MTB
$35.7B
| $353M | 0.1% |
2,843,886
+1,274,615
| +81% | +$155M |
|
210
CME Group
CME
$96.3B
| $348M | 0.09% |
4,907,742
+2,453,871
| +100% | +$173M |
|
211
BorgWarner
BWA
$13.1B
| $347M | 0.09% |
6,048,266
+3,250,011
| +116% | +$179M |
|
212
American Electric Power
AEP
$69.6B
| $346M | 0.09% |
6,212,418
+2,746,970
| +79% | +$145M |
|
213
Netflix
NFLX
$299B
| $346M | 0.09% |
54,908,700
+27,047,580
| +97% | +$146M |
|
214
Aptiv
APTV
$12B
| $346M | 0.09% |
5,026,648
+2,631,928
| +110% | +$179M |
|
215
Hershey
HSY
$35.2B
| $343M | 0.09% |
3,521,496
+2,420,748
| +220% | +$237M |
|
216
Becton Dickinson
BDX
$45.6B
| $342M | 0.09% |
2,963,449
+1,481,724
| +100% | +$168M |
|
217
Humana
HUM
$43.7B
| $341M | 0.09% |
2,672,024
+1,336,012
| +100% | +$158M |
|
218
Sysco
SYY
$40.8B
| $341M | 0.09% |
9,110,522
+4,555,261
| +100% | +$167M |
|
219
Equinix
EQIX
$101B
| $339M | 0.09% |
1,611,600
+673,565
| +72% | +$130M |
|
220
Intuit
INTU
$86.5B
| $332M | 0.09% |
4,126,208
+2,063,104
| +100% | +$159M |
|
221
Estee Lauder
EL
$30.4B
| $330M | 0.09% |
4,450,296
+2,365,148
| +113% | +$174M |
|
222
Perrigo
PRGO
$1.4B
| $329M | 0.09% |
2,259,048
+800,919
| +55% | +$113M |
|
|
MJN
223
DELISTED
Mead Johnson Nutrition Company
MJN
| $320M | 0.09% |
3,439,062
+1,842,131
| +115% | +$161M |
|
224
Tesla
TSLA
$1.23T
| $319M | 0.09% |
19,938,840
+9,435,840
| +90% | +$132M |
|
|
DFS
225
DELISTED
Discover Financial Services
DFS
| $317M | 0.09% |
5,107,576
+2,793,490
| +121% | +$163M |
|
Similar funds
Norges Bank's Q2 2014 Portfolio in Review
As of Q2 2014, Norges Bank held 2,273 positions worth $371B, up 109% from $177B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank deployed $180B of net new capital in Q2 2014, opening 161 new positions and adding to 2,055 existing holdings. Its largest new stake was IMS HEALTH HLDGS INC COM STK (DE): 6,500,000 shares worth $167M.
By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Weatherford International plc, an estimated $118M trimmed.
- Norges Bank's largest Q2 2014 buy was IMS HEALTH HLDGS INC COM STK (DE): 6,500,000 shares worth $167M.
- Norges Bank added most to Apple in Q2 2014, an estimated $3.65B increase.
- Norges Bank's biggest Q2 2014 reduction was Weatherford International plc, cutting an estimated $118M.
- Norges Bank fully exited Credicorp in Q2 2014, selling an estimated $98.3M.
- Norges Bank's ten largest holdings make up 14% of its $371B portfolio in Q2 2014.
- Norges Bank opened 161 new positions and closed 23 in Q2 2014.
- Norges Bank's portfolio value rose 109% quarter-over-quarter to $371B.
Based on Norges Bank's 13F filing for Q2 2014, filed 8 Aug 2014.