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 | |
|---|---|---|---|---|---|---|
426
Henry Schein
HSIC
$9.78B
| $71.8M | 0.04% |
1,533,282
+47,642
| +3% | +$2.18M |
|
427
First Solar
FSLR
$21.4B
| $71.7M | 0.04% |
1,028,005
-306,855
| -23% | -$17.1M |
|
428
Royal Caribbean
RCL
$86.5B
| $71.7M | 0.04% |
1,313,889
| – | – |
|
429
Advance Auto Parts
AAP
$3.53B
| $71.6M | 0.04% |
565,627
-4,015
| -0.7% | -$487K |
|
|
HCBK
430
DELISTED
HUDSON CITY BANCORP INC
HCBK
| $71.5M | 0.04% |
7,270,664
+1,652,000
| +29% | +$15.5M |
|
|
BEAV
431
DELISTED
B/E Aerospace Inc
BEAV
| $71.3M | 0.04% |
1,135,192
-9,562
| -0.8% | -$579K |
|
|
ENDP
432
DELISTED
Endo International plc
ENDP
| $71.2M | 0.04% |
1,036,277
+289,446
| +39% | +$20.5M |
|
433
Incyte
INCY
$25.8B
| $71.1M | 0.04% |
1,328,084
-77,041
| -5% | -$4.78M |
|
434
Manulife Financial
MFC
$73B
| $70.7M | 0.04% |
3,660,836
+22,055
| +0.6% | +$422K |
|
435
Signet Jewelers
SIG
$3.84B
| $70.6M | 0.04% |
666,970
| – | – |
|
436
Herc Holdings
HRI
$4.78B
| $70.6M | 0.04% |
883,429
+100,033
| +13% | +$8.06M |
|
437
Entergy
ETR
$50.3B
| $70.2M | 0.04% |
2,100,492
+84,048
| +4% | +$2.66M |
|
438
Skyworks Solutions
SWKS
$9.21B
| $70.2M | 0.04% |
1,870,010
+274,000
| +17% | +$9.01M |
|
439
CGI
GIB
$15.4B
| $69.6M | 0.04% |
2,251,645
+127,606
| +6% | +$4.03M |
|
|
VAR
440
DELISTED
Varian Medical Systems, Inc.
VAR
| $69.2M | 0.04% |
939,892
| – | – |
|
|
VMW
441
DELISTED
VMware, Inc
VMW
| $69.2M | 0.04% |
640,821
| – | – |
|
442
Western Union
WU
$2.53B
| $69.1M | 0.04% |
4,224,506
| – | – |
|
443
Regal Rexnord
RRX
$12.5B
| $68.8M | 0.04% |
945,590
-125,300
| -12% | -$9.25M |
|
444
United Rentals
URI
$65.7B
| $68.7M | 0.04% |
723,645
| – | – |
|
|
CIT
445
DELISTED
CIT Group Inc.
CIT
| $68.7M | 0.04% |
1,401,360
| – | – |
|
|
LVLT
446
DELISTED
Level 3 Communications Inc
LVLT
| $68.7M | 0.04% |
1,754,217
| – | – |
|
447
Molson Coors Class B
TAP
$8.02B
| $68.4M | 0.04% |
1,162,514
+7,512
| +0.7% | +$420K |
|
448
Labcorp
LH
$25.2B
| $68.3M | 0.04% |
809,676
| – | – |
|
449
Newell Brands
NWL
$2.21B
| $68.1M | 0.04% |
2,277,662
+66,667
| +3% | +$2.07M |
|
450
Verisk Analytics
VRSK
$27.7B
| $68M | 0.04% |
1,134,863
| – | – |
|
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.