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 | |
|---|---|---|---|---|---|---|
526
Quanta Services
PWR
$100B
| $54.4M | 0.03% |
1,722,764
-67,949
| -4% | -$2M |
|
527
Teck Resources
TECK
$29.6B
| $54.3M | 0.03% |
2,085,435
-107,006
| -5% | -$2.76M |
|
528
Gartner
IT
$10.1B
| $54M | 0.03% |
759,978
-17,295
| -2% | -$1.09M |
|
|
CFN
529
DELISTED
CAREFUSION CORPORATION
CFN
| $54M | 0.03% |
1,355,199
+251,887
| +23% | +$9.79M |
|
530
Avnet
AVT
$7.29B
| $53.5M | 0.03% |
1,213,050
-95,854
| -7% | -$3.95M |
|
531
McCormick & Company Non-Voting
MKC
$13.7B
| $53.5M | 0.03% |
1,552,040
-307,212
| -17% | -$10.5M |
|
532
Baidu
BIDU
$37.7B
| $53.4M | 0.03% |
300,000
| – | – |
|
533
CBRE Group
CBRE
$42.5B
| $53.3M | 0.03% |
2,027,393
-448,000
| -18% | -$10.7M |
|
534
Darden Restaurants
DRI
$23.3B
| $53.1M | 0.03% |
1,093,244
-117,254
| -10% | -$5.43M |
|
|
VAL
535
DELISTED
Valspar
VAL
| $53.1M | 0.03% |
744,852
-14,628
| -2% | -$1.01M |
|
|
HCBK
536
DELISTED
HUDSON CITY BANCORP INC
HCBK
| $53M | 0.03% |
5,618,664
-7,733,960
| -58% | -$70.9M |
|
|
HOUS
537
DELISTED
Anywhere Real Estate
HOUS
| $52.9M | 0.03% |
1,069,377
| – | – |
|
538
NetApp
NTAP
$35B
| $52.6M | 0.03% |
1,279,776
-460,609
| -26% | -$18.7M |
|
539
Signet Jewelers
SIG
$3.61B
| $52.5M | 0.03% |
666,970
-13,521
| -2% | -$1.02M |
|
|
WDR
540
DELISTED
Waddell & Reed Financial, Inc.
WDR
| $52.3M | 0.03% |
802,391
-16,242
| -2% | -$994K |
|
541
Gildan
GIL
$10.3B
| $52.2M | 0.03% |
1,958,478
| – | – |
|
|
ETFC
542
DELISTED
E*Trade Financial Corporation
ETFC
| $52.2M | 0.03% |
2,655,444
-113,419
| -4% | -$2.02M |
|
543
Cameco
CCJ
$37.6B
| $52.1M | 0.03% |
2,513,873
+221,451
| +10% | +$4.3M |
|
544
Equifax
EFX
$20.3B
| $52.1M | 0.03% |
754,168
-209,415
| -22% | -$13.6M |
|
|
RHT
545
DELISTED
Red Hat Inc
RHT
| $51.9M | 0.03% |
926,910
-296,674
| -24% | -$13.7M |
|
546
GSK
GSK
$104B
| $51.8M | 0.03% |
776,752
| – | – |
|
|
CLR
547
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| $51.8M | 0.03% |
921,028
-134,494
| -13% | -$7.52M |
|
548
Teradata
TDC
$2.92B
| $51.8M | 0.03% |
1,138,835
-194,656
| -15% | -$8.82M |
|
549
Fossil Group
FOSL
$293M
| $51.7M | 0.03% |
430,704
-113,898
| -21% | -$14.1M |
|
550
Crown Holdings
CCK
$12.8B
| $51.1M | 0.03% |
1,146,901
-46,372
| -4% | -$1.98M |
|
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.