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 |
Verizon
VZ
|
+$1.18B |
| 2 |
Liberty Global Class C
LBTYK
|
+$228M |
| 3 |
Pentair
PNR
|
+$223M |
| 4 |
Mastercard
MA
|
+$144M |
| 5 |
Logitech
LOGI
|
+$125M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Global Class A
LBTYA
|
+$171M |
| 2 |
BEAM
BEAM INC COM STK (DE)
BEAM
|
+$162M |
| 3 |
Telus
TU
|
+$99.7M |
| 4 |
Republic Services
RSG
|
+$99.5M |
| 5 |
Visa
V
|
+$98.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.92% |
| 2 | Technology | 13.16% |
| 3 | Healthcare | 12.11% |
| 4 | Industrials | 10.05% |
| 5 | Energy | 9.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ATVI
376
DELISTED
Activision Blizzard
ATVI
| $82.7M | 0.05% |
4,046,920
| – | – |
|
377
Autoliv
ALV
$9.14B
| $82.7M | 0.05% |
1,143,486
| – | – |
|
|
COL
378
DELISTED
Rockwell Collins
COL
| $82.7M | 0.05% |
1,037,495
| – | – |
|
|
BEAM
379
DELISTED
BEAM INC COM STK (DE)
BEAM
| $82.2M | 0.05% |
986,781
-1,986,626
| -67% | -$162M |
|
|
TIF
380
DELISTED
Tiffany & Co.
TIF
| $82.1M | 0.05% |
953,121
| – | – |
|
|
GG
381
DELISTED
Goldcorp Inc
GG
| $81.6M | 0.05% |
3,338,639
| – | – |
|
382
J.M. Smucker
SJM
$13.5B
| $81.3M | 0.05% |
835,876
+14,336
| +2% | +$1.39M |
|
|
ESV
383
DELISTED
Ensco Rowan plc
ESV
| $81.3M | 0.05% |
384,851
+14,306
| +4% | +$2.99M |
|
384
TripAdvisor
TRIP
$1.7B
| $80.9M | 0.05% |
893,087
| – | – |
|
385
Best Buy
BBY
$19B
| $80.7M | 0.05% |
3,055,523
+354,595
| +13% | +$9.71M |
|
386
Affiliated Managers Group
AMG
$9.51B
| $80.6M | 0.05% |
402,708
| – | – |
|
387
NiSource
NI
$21.5B
| $80.5M | 0.05% |
5,763,562
| – | – |
|
|
TRW
388
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
| $80.5M | 0.05% |
985,770
| – | – |
|
389
Annaly Capital Management
NLY
$17.3B
| $79.9M | 0.05% |
1,820,147
+79,193
| +5% | +$3.42M |
|
|
XEC
390
DELISTED
CIMAREX ENERGY CO
XEC
| $79.6M | 0.04% |
668,598
| – | – |
|
|
PLL
391
DELISTED
PALL CORP
PLL
| $79.5M | 0.04% |
888,391
+111,947
| +14% | +$9.48M |
|
|
SWY
392
DELISTED
SAFEWAY INC
SWY
| $79.3M | 0.04% |
2,397,033
| – | – |
|
|
CXO
393
DELISTED
CONCHO RESOURCES INC.
CXO
| $78.4M | 0.04% |
640,087
| – | – |
|
|
XL
394
DELISTED
XL Group Ltd.
XL
| $78.4M | 0.04% |
2,508,050
| – | – |
|
|
LLTC
395
DELISTED
Linear Technology Corp
LLTC
| $78.1M | 0.04% |
1,603,353
| – | – |
|
396
CarMax
KMX
$8.39B
| $77.9M | 0.04% |
1,665,178
+20,872
| +1% | +$975K |
|
397
Timken Company
TKR
$9.19B
| $77.5M | 0.04% |
1,841,388
+758,793
| +70% | +$31.2M |
|
|
CSC
398
DELISTED
Computer Sciences
CSC
| $77.4M | 0.04% |
3,020,898
+77,286
| +3% | +$1.94M |
|
|
BRCM
399
DELISTED
BROADCOM CORP CL-A
BRCM
| $77.3M | 0.04% |
2,456,410
+32,227
| +1% | +$970K |
|
400
Charter Communications
CHTR
$17.3B
| $77M | 0.04% |
624,702
+23,622
| +4% | +$3.09M |
|
Similar funds
Norges Bank's Q1 2014 Portfolio in Review
As of Q1 2014, Norges Bank held 2,137 positions worth $177B, up 2.1% from $174B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Trading was light in Q1 2014: portfolio turnover was 2.9%. Norges Bank opened 39 new positions and exited 24, leaving the 2,137-position portfolio largely intact.
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 2014 buy was Veren: 3,413,946 shares worth $114M.
- Norges Bank added most to Verizon in Q1 2014, an estimated $1.18B increase.
- Norges Bank's biggest Q1 2014 reduction was Liberty Global Class A, cutting an estimated $171M.
- Norges Bank fully exited Telus in Q1 2014, selling an estimated $99.7M.
- Norges Bank's ten largest holdings make up 14% of its $177B portfolio in Q1 2014.
- Norges Bank opened 39 new positions and closed 24 in Q1 2014.
- Norges Bank's portfolio value rose 2.1% quarter-over-quarter to $177B.
Based on Norges Bank's 13F filing for Q1 2014, filed 9 May 2014.