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 | |
|---|---|---|---|---|---|---|
401
Core Laboratories
CLB
$455M
| $76.4M | 0.04% |
384,759
-19,968
| -5% | -$3.77M |
|
402
BioMarin Pharmaceuticals
BMRN
$11.9B
| $76.2M | 0.04% |
1,116,833
-62,275
| -5% | -$4.59M |
|
403
Watts Water Technologies
WTS
$11.2B
| $76M | 0.04% |
1,295,001
+205,289
| +19% | +$12M |
|
404
Televisa
TV
$1.49B
| $75.8M | 0.04% |
2,278,097
| – | – |
|
|
CBI
405
DELISTED
Chicago Bridge & Iron Nv
CBI
| $75.8M | 0.04% |
869,777
-57,824
| -6% | -$4.7M |
|
406
Brown-Forman Class B
BF.B
$13.5B
| $75.6M | 0.04% |
2,635,791
+41,888
| +2% | +$1.1M |
|
407
Hormel Foods
HRL
$14.2B
| $75.6M | 0.04% |
3,068,854
| – | – |
|
408
Acuity Brands
AYI
$9.99B
| $75.4M | 0.04% |
568,592
+241,197
| +74% | +$31.9M |
|
409
Ralph Lauren
RL
$22.4B
| $75.2M | 0.04% |
467,115
| – | – |
|
|
BCR
410
DELISTED
CR Bard Inc.
BCR
| $75.2M | 0.04% |
507,939
+15,925
| +3% | +$2.2M |
|
411
Travel + Leisure Co
TNL
$4.76B
| $75.2M | 0.04% |
2,273,228
| – | – |
|
|
CTRX
412
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
| $73.8M | 0.04% |
1,648,394
+108,461
| +7% | +$5.22M |
|
413
Xcel Energy
XEL
$49.2B
| $73.5M | 0.04% |
2,420,137
+70,817
| +3% | +$2.06M |
|
414
Quest Diagnostics
DGX
$26B
| $73.3M | 0.04% |
1,265,259
| – | – |
|
415
Genworth Financial
GNW
$3.86B
| $73.2M | 0.04% |
4,126,284
| – | – |
|
416
Southern Copper
SCCO
$138B
| $73M | 0.04% |
2,705,941
+37,365
| +1% | +$1M |
|
417
Campbell Soup
CPB
$6.85B
| $72.8M | 0.04% |
1,621,991
+48,493
| +3% | +$2.08M |
|
418
Polaris
PII
$3.83B
| $72.5M | 0.04% |
518,771
-46,479
| -8% | -$6.27M |
|
419
Autodesk
ADSK
$51.8B
| $72.2M | 0.04% |
1,467,342
| – | – |
|
|
CAM
420
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
| $72.1M | 0.04% |
1,167,750
| – | – |
|
|
MXIM
421
DELISTED
Maxim Integrated Products
MXIM
| $72M | 0.04% |
2,175,214
| – | – |
|
|
GRMN
422
Garmin
GRMN
$56.9B
| $72M | 0.04% |
1,303,091
| – | – |
|
423
FMC
FMC
$1.25B
| $72M | 0.04% |
1,084,171
| – | – |
|
|
KSU
424
DELISTED
Kansas City Southern
KSU
| $71.8M | 0.04% |
703,476
| – | – |
|
|
CTXS
425
DELISTED
Citrix Systems Inc
CTXS
| $71.8M | 0.04% |
1,569,511
| – | – |
|
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.