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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
TRP icon
201
TC Energy
TRP
$70.1B
$203M 0.1%
4,740,316
-208,347
-4% -$9.3M
WELL icon
202
Welltower
WELL
$173B
$202M 0.1%
2,610,168
+333,613
+15% +$26.3M
COR icon
203
Cencora
COR
$62B
$201M 0.1%
1,771,803
+49,231
+3% +$4.95M
MTB icon
204
M&T Bank
MTB
$36.5B
$200M 0.1%
1,577,281
-6,503
-0.4% -$787K
BSX icon
205
Boston Scientific
BSX
$68.8B
$199M 0.1%
11,229,792
+829,286
+8% +$13.1M
WDC icon
206
Western Digital
WDC
$166B
$199M 0.1%
2,887,162
+129,575
+5% +$10.1M
APTV icon
207
Aptiv
APTV
$12.5B
$197M 0.1%
2,469,984
+64,870
+3% +$4.87M
SHW icon
208
Sherwin-Williams
SHW
$85B
$196M 0.1%
2,071,953
+8,631
+0.4% +$805K
PNR icon
209
Pentair
PNR
$10.7B
$195M 0.1%
4,619,929
-31,957
-0.7% -$1.39M
VTRS icon
210
Viatris
VTRS
$20.8B
$194M 0.1%
3,272,421
+472,736
+17% +$27M
IP icon
211
International Paper
IP
$22.8B
$194M 0.1%
3,694,648
-57,563
-2% -$2.99M
LNKD
212
DELISTED
LinkedIn Corporation
LNKD
$194M 0.1%
776,840
+32,179
+4% +$7.99M
DVN icon
213
Devon Energy
DVN
$51B
$194M 0.1%
3,216,001
+164,236
+5% +$10M
NSC icon
214
Norfolk Southern
NSC
$75.4B
$193M 0.09%
1,874,460
-286,743
-13% -$30.7M
MJN
215
DELISTED
Mead Johnson Nutrition Company
MJN
$191M 0.09%
1,903,809
+27,144
+1% +$2.74M
EMR icon
216
Emerson Electric
EMR
$82.7B
$191M 0.09%
3,375,525
-18,610
-0.5% -$1.08M
EL icon
217
Estee Lauder
EL
$30.8B
$189M 0.09%
2,276,675
+37,638
+2% +$2.96M
HES
218
DELISTED
Hess
HES
$189M 0.09%
2,781,520
+105,388
+4% +$7.52M
VRTX icon
219
Vertex Pharmaceuticals
VRTX
$124B
$188M 0.09%
1,596,049
-15,131
-0.9% -$1.81M
APA icon
220
APA Corp
APA
$12.8B
$188M 0.09%
3,110,018
+86,334
+3% +$5.43M
BRCM
221
DELISTED
BROADCOM CORP CL-A
BRCM
$186M 0.09%
4,295,506
+402,172
+10% +$17.5M
PEG icon
222
Public Service Enterprise Group
PEG
$38.8B
$184M 0.09%
4,395,789
+143,788
+3% +$6M
ILMN icon
223
Illumina
ILMN
$29.4B
$184M 0.09%
1,020,030
+44,983
+5% +$8.47M
PGRE
224
DELISTED
Paramount Group
PGRE
$183M 0.09%
9,500,000
+1,500,000
+19% +$28.5M
ROST icon
225
Ross Stores
ROST
$81.7B
$183M 0.09%
3,479,514
-69,656
-2% -$3.45M
7 8
9
10 11

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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.