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 | |
|---|---|---|---|---|---|---|
551
Gartner
IT
$10.2B
| $52.8M | 0.03% |
759,978
| – | – |
|
552
Digital Realty Trust
DLR
$71.5B
| $52.7M | 0.03% |
992,150
+10,000
| +1% | +$520K |
|
553
Herbalife
HLF
$1.29B
| $52.6M | 0.03% |
1,836,666
| – | – |
|
554
Equifax
EFX
$20.7B
| $52.4M | 0.03% |
770,921
+16,753
| +2% | +$1.17M |
|
555
Nasdaq
NDAQ
$53.2B
| $52.4M | 0.03% |
4,254,456
| – | – |
|
556
Arrow Electronics
ARW
$10.9B
| $52.3M | 0.03% |
880,308
| – | – |
|
557
Snap-on
SNA
$21.2B
| $52.3M | 0.03% |
460,476
| – | – |
|
558
Darling Ingredients
DAR
$9.69B
| $52.1M | 0.03% |
2,602,397
+1,536,825
| +144% | +$30.8M |
|
|
Y
559
DELISTED
Alleghany Corp
Y
| $52M | 0.03% |
127,700
| – | – |
|
560
GSK
GSK
$104B
| $51.9M | 0.03% |
776,752
| – | – |
|
|
SNI
561
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $51.4M | 0.03% |
677,528
| – | – |
|
|
IHS
562
DELISTED
IHS INC CL-A COM STK
IHS
| $51.4M | 0.03% |
423,211
+24,543
| +6% | +$2.9M |
|
|
HUB.B
563
DELISTED
HUBBELL INC CL-B
HUB.B
| $51.4M | 0.03% |
428,592
| – | – |
|
564
Crown Holdings
CCK
$12.9B
| $51.3M | 0.03% |
1,146,901
| – | – |
|
565
Darden Restaurants
DRI
$23.7B
| $51.3M | 0.03% |
1,129,798
+36,554
| +3% | +$1.63M |
|
566
Ashland
ASH
$3.33B
| $51.2M | 0.03% |
1,052,705
+77,919
| +8% | +$3.66M |
|
567
Goodyear
GT
$2.04B
| $51.2M | 0.03% |
1,957,849
| – | – |
|
568
Vermilion Energy
VET
$1.76B
| $51M | 0.03% |
815,906
+26,610
| +3% | +$1.53M |
|
|
GRA
569
DELISTED
W.R. Grace & Co.
GRA
| $51M | 0.03% |
514,300
+10,744
| +2% | +$1.06M |
|
570
Pinnacle West Capital
PNW
$12.3B
| $50.9M | 0.03% |
931,465
| – | – |
|
|
PCL
571
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
| $50.9M | 0.03% |
1,210,035
+186,202
| +18% | +$8.01M |
|
572
Vulcan Materials
VMC
$35.2B
| $50.8M | 0.03% |
764,478
+16,703
| +2% | +$1.07M |
|
|
FDO
573
DELISTED
FAMILY DOLLAR STORES
FDO
| $50.7M | 0.03% |
874,452
| – | – |
|
574
Ulta Beauty
ULTA
$22.2B
| $50.4M | 0.03% |
517,369
| – | – |
|
575
Fossil Group
FOSL
$288M
| $50.2M | 0.03% |
430,704
| – | – |
|
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.