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 | |
|---|---|---|---|---|---|---|
|
BCR
451
DELISTED
CR Bard Inc.
BCR
| $65.9M | 0.04% |
492,014
+22,033
| +5% | +$2.91M |
|
|
ADT
452
DELISTED
ADT Corp
ADT
| $65.9M | 0.04% |
1,628,209
-240,560
| -13% | -$9.9M |
|
453
Xcel Energy
XEL
$48.8B
| $65.6M | 0.04% |
2,349,320
-324,189
| -12% | -$9.16M |
|
454
AES
AES
$10.5B
| $65.6M | 0.04% |
4,522,982
-889,374
| -16% | -$12.7M |
|
455
Hasbro
HAS
$13.3B
| $65.6M | 0.04% |
1,192,488
| – | – |
|
|
CYT
456
DELISTED
CYTEC INDS INC
CYT
| $65.4M | 0.04% |
1,404,648
| – | – |
|
|
THI
457
DELISTED
TIM HORTONS INC COM, CANADA
THI
| $65.2M | 0.04% |
1,116,562
-63,259
| -5% | -$3.72M |
|
458
Universal Health Services
UHS
$10.2B
| $64.9M | 0.04% |
799,058
+12,418
| +2% | +$992K |
|
459
Molson Coors Class B
TAP
$7.79B
| $64.9M | 0.04% |
1,155,002
| – | – |
|
460
PVH
PVH
$4B
| $64.3M | 0.04% |
472,363
-111,785
| -19% | -$14.2M |
|
461
Genworth Financial
GNW
$3.76B
| $64.1M | 0.04% |
4,126,284
-501,550
| -11% | -$7.25M |
|
|
VAR
462
DELISTED
Varian Medical Systems, Inc.
VAR
| $64M | 0.04% |
939,892
-361,898
| -28% | -$24.1M |
|
463
Entergy
ETR
$50.2B
| $63.8M | 0.04% |
2,016,444
-264,476
| -12% | -$8.43M |
|
464
Labcorp
LH
$25.4B
| $63.6M | 0.04% |
809,676
-107,239
| -12% | -$9.15M |
|
465
NXP Semiconductors
NXPI
$57.8B
| $63.3M | 0.04% |
1,377,404
-341,515
| -20% | -$14.1M |
|
466
FirstEnergy
FE
$28B
| $63.2M | 0.04% |
1,917,187
-357,807
| -16% | -$12.6M |
|
467
Advance Auto Parts
AAP
$3.35B
| $63M | 0.04% |
569,642
-10,349
| -2% | -$1.03M |
|
468
Mohawk Industries
MHK
$7.5B
| $63M | 0.04% |
423,036
-105,312
| -20% | -$14.4M |
|
469
Brown-Forman Class B
BF.B
$13.2B
| $62.7M | 0.04% |
2,593,903
-396,072
| -13% | -$9.29M |
|
|
PCYC
470
DELISTED
PHARMACYCLICS INC
PCYC
| $62.6M | 0.04% |
592,056
-13,263
| -2% | -$1.61M |
|
471
Royal Caribbean
RCL
$85.1B
| $62.3M | 0.04% |
1,313,889
-148,736
| -10% | -$6.31M |
|
|
SRCL
472
DELISTED
Stericycle Inc
SRCL
| $62.1M | 0.04% |
534,903
-75,171
| -12% | -$8.76M |
|
|
FLG
473
Flagstar Bank National Association
FLG
$5.93B
| $62M | 0.04% |
1,225,997
-66,181
| -5% | -$3.21M |
|
|
TGNA
474
DELISTED
TEGNA Inc
TGNA
| $61.1M | 0.04% |
3,946,494
-286,696
| -7% | -$4.04M |
|
|
ONIT
475
Onity Group
ONIT
$309M
| $60.8M | 0.04% |
73,108
-2,546
| -3% | -$2.1M |
|
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.