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 | |
|---|---|---|---|---|---|---|
|
MXIM
476
DELISTED
Maxim Integrated Products
MXIM
| $60.7M | 0.04% |
2,175,214
-239,166
| -10% | -$6.92M |
|
477
ManpowerGroup
MAN
$2.44B
| $60.7M | 0.03% |
706,656
-80,743
| -10% | -$6.46M |
|
|
GRMN
478
Garmin
GRMN
$56.7B
| $60.2M | 0.03% |
1,303,091
-140,382
| -10% | -$6.66M |
|
479
H&R Block
HRB
$5.58B
| $59.7M | 0.03% |
2,056,891
-151,745
| -7% | -$4.31M |
|
|
SPWR
480
DELISTED
SunPower Corporation Common Stock
SPWR
| $59.2M | 0.03% |
3,034,749
+511,545
| +20% | +$10.2M |
|
481
MGM Resorts International
MGM
$11.4B
| $59.2M | 0.03% |
2,518,397
-340,526
| -12% | -$6.94M |
|
482
Mettler-Toledo International
MTD
$28.6B
| $59.1M | 0.03% |
243,507
-4,082
| -2% | -$997K |
|
483
EnerSys
ENS
$6.78B
| $59M | 0.03% |
841,437
| – | – |
|
|
AMTD
484
DELISTED
TD Ameritrade Holding Corp
AMTD
| $59M | 0.03% |
1,924,704
-794,436
| -29% | -$22.6M |
|
485
Edgewell Personal Care
EPC
$1.25B
| $58.8M | 0.03% |
733,318
| – | – |
|
486
L3Harris
LHX
$51.6B
| $58.8M | 0.03% |
842,265
-168,833
| -17% | -$10.7M |
|
487
Church & Dwight Co
CHD
$23.4B
| $58.8M | 0.03% |
1,773,492
-515,732
| -23% | -$16.6M |
|
|
SNI
488
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $58.5M | 0.03% |
677,528
-51,487
| -7% | -$4.03M |
|
|
JAH
489
DELISTED
JARDEN CORPORATION
JAH
| $58.4M | 0.03% |
1,428,417
| – | – |
|
|
FL
490
DELISTED
Foot Locker
FL
| $58.4M | 0.03% |
1,408,983
-234,604
| -14% | -$8.59M |
|
491
Woodward
WWD
$21.3B
| $58.4M | 0.03% |
1,279,595
-250,000
| -16% | -$10.4M |
|
492
Raymond James Financial
RJF
$33.8B
| $58.2M | 0.03% |
1,673,571
-33,431
| -2% | -$1.04M |
|
493
Fidelity National Financial
FNF
$13.9B
| $58.2M | 0.03% |
3,141,772
-65,138
| -2% | -$1.05M |
|
|
LVLT
494
DELISTED
Level 3 Communications Inc
LVLT
| $58.2M | 0.03% |
1,754,217
-33,636
| -2% | -$991K |
|
495
Pultegroup
PHM
$24.1B
| $58M | 0.03% |
2,847,641
-264,684
| -9% | -$4.69M |
|
496
Markel Group
MKL
$23.3B
| $57.9M | 0.03% |
99,794
-9,349
| -9% | -$5.07M |
|
497
AGNC Investment
AGNC
$12.4B
| $57.8M | 0.03% |
2,998,425
-555,124
| -16% | -$11.8M |
|
498
Lear
LEA
$6.54B
| $57.8M | 0.03% |
714,322
-82,557
| -10% | -$6.46M |
|
499
Ball Corp
BALL
$17.3B
| $57.8M | 0.03% |
2,239,134
-294,430
| -12% | -$7.18M |
|
|
PETM
500
DELISTED
PETSMART INC
PETM
| $57.8M | 0.03% |
794,333
-128,786
| -14% | -$9.43M |
|
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.