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 |
Hilton Worldwide
HLT
|
+$436M |
| 2 |
CNH
CNH Industrial
CNH
|
+$234M |
| 3 |
Cummins
CMI
|
+$187M |
| 4 |
Perrigo
PRGO
|
+$137M |
| 5 |
Republic Services
RSG
|
+$99.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackrock
BLK
|
+$467M |
| 2 |
Apple
AAPL
|
+$378M |
| 3 |
JPMorgan Chase
JPM
|
+$343M |
| 4 |
ExxonMobil
XOM
|
+$312M |
| 5 |
Chevron
CVX
|
+$247M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.33% |
| 2 | Technology | 12.94% |
| 3 | Healthcare | 11.73% |
| 4 | Industrials | 10.44% |
| 5 | Energy | 9.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CAM
426
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
| $69.5M | 0.04% |
1,167,750
-444,458
| -28% | -$25.6M |
|
427
Annaly Capital Management
NLY
$17.1B
| $69.4M | 0.04% |
1,740,954
-337,306
| -16% | -$14.6M |
|
428
3D Systems Corp
DDD
$431M
| $69.4M | 0.04% |
746,306
| – | – |
|
|
CSC
429
DELISTED
Computer Sciences
CSC
| $69.3M | 0.04% |
2,943,612
-182,469
| -6% | -$4.05M |
|
430
Hormel Foods
HRL
$13.8B
| $69.3M | 0.04% |
3,068,854
-487,110
| -14% | -$10.7M |
|
431
Cincinnati Financial
CINF
$27.3B
| $69.2M | 0.04% |
1,321,955
-19,027
| -1% | -$962K |
|
|
CXO
432
DELISTED
CONCHO RESOURCES INC.
CXO
| $69.1M | 0.04% |
640,087
-57,411
| -8% | -$6.21M |
|
433
Televisa
TV
$1.48B
| $68.9M | 0.04% |
2,278,097
-507,758
| -18% | -$15M |
|
434
Everest Group
EG
$14.5B
| $68.9M | 0.04% |
441,848
-48,127
| -10% | -$7.35M |
|
435
Expeditors International
EXPD
$22B
| $68.6M | 0.04% |
1,550,856
-154,527
| -9% | -$6.75M |
|
|
RKT
436
DELISTED
ROCK-TENN COMPANY CL-A
RKT
| $68.5M | 0.04% |
1,303,948
-307,070
| -19% | -$15.5M |
|
|
ANDV
437
DELISTED
Andeavor
ANDV
| $68.4M | 0.04% |
1,169,144
-29,498
| -2% | -$1.53M |
|
438
Campbell Soup
CPB
$6.55B
| $68.1M | 0.04% |
1,573,498
-392,265
| -20% | -$16.2M |
|
439
Quest Diagnostics
DGX
$25.7B
| $67.7M | 0.04% |
1,265,259
-158,588
| -11% | -$9.41M |
|
440
National Fuel Gas
NFG
$7.82B
| $67.7M | 0.04% |
948,611
-56,774
| -6% | -$3.94M |
|
441
Delta Air Lines
DAL
$57.5B
| $67.5M | 0.04% |
2,458,506
| – | – |
|
|
SIAL
442
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $67.5M | 0.04% |
717,554
| – | – |
|
443
Watts Water Technologies
WTS
$11.5B
| $67.4M | 0.04% |
1,089,712
| – | – |
|
444
Herc Holdings
HRI
$5.02B
| $67.3M | 0.04% |
783,396
-248,582
| -24% | -$17.8M |
|
|
BPO
445
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
| $67.1M | 0.04% |
3,487,148
| – | – |
|
446
Lam Research
LRCX
$367B
| $66.9M | 0.04% |
12,281,600
-1,217,630
| -9% | -$6.41M |
|
447
Henry Schein
HSIC
$9.77B
| $66.6M | 0.04% |
1,485,640
+67,320
| +5% | +$2.95M |
|
448
Jefferies Financial Group
JEF
$12.6B
| $66.5M | 0.04% |
2,620,879
-388,945
| -13% | -$9.84M |
|
|
PLL
449
DELISTED
PALL CORP
PLL
| $66.3M | 0.04% |
776,444
-103,170
| -12% | -$8.38M |
|
450
Progressive
PGR
$123B
| $66.2M | 0.04% |
2,428,551
-829,948
| -25% | -$22.4M |
|
Similar funds
Norges Bank's Q4 2013 Portfolio in Review
As of Q4 2013, Norges Bank held 2,134 positions worth $174B, up 1.3% from $171B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank withdrew a net $13.1B in Q4 2013, closing 36 positions and reducing 812 holdings. Its most notable exit was DELL INC, an estimated $166M position sold in full.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Norges Bank opened a new position in Hilton Worldwide worth $445M.
- Norges Bank's largest Q4 2013 buy was Hilton Worldwide: 6,666,667 shares worth $445M.
- Norges Bank added most to Cummins in Q4 2013, an estimated $187M increase.
- Norges Bank's biggest Q4 2013 reduction was Blackrock, cutting an estimated $467M.
- Norges Bank fully exited DELL INC in Q4 2013, selling an estimated $166M.
- Norges Bank's ten largest holdings make up 15% of its $174B portfolio in Q4 2013.
- Norges Bank opened 50 new positions and closed 36 in Q4 2013.
- Norges Bank's portfolio value rose 1.3% quarter-over-quarter to $174B.
Based on Norges Bank's 13F filing for Q4 2013, filed 7 Feb 2014.