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 | |
|---|---|---|---|---|---|---|
|
ARG
576
DELISTED
Airgas Inc
ARG
| $47.8M | 0.03% |
427,227
| – | – |
|
577
Arrow Electronics
ARW
$11.1B
| $47.8M | 0.03% |
880,308
-124,611
| -12% | -$6.33M |
|
578
Lincoln Electric
LECO
$14.2B
| $47.7M | 0.03% |
668,911
-14,440
| -2% | -$1.01M |
|
|
IHS
579
DELISTED
IHS INC CL-A COM STK
IHS
| $47.7M | 0.03% |
398,668
-82,200
| -17% | -$9.31M |
|
|
PCL
580
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
| $47.6M | 0.03% |
1,023,833
-240,776
| -19% | -$11M |
|
|
BRFS
581
DELISTED
BRF SA
BRFS
| $47.6M | 0.03% |
2,279,748
-265,252
| -10% | -$6.1M |
|
|
LSI
582
DELISTED
LSI CORPORATION
LSI
| $47.5M | 0.03% |
4,305,839
-633,714
| -13% | -$5.4M |
|
583
Lennar Class A
LEN
$19.8B
| $47.4M | 0.03% |
1,258,118
-87,889
| -7% | -$2.96M |
|
584
Wheaton Precious Metals
WPM
$49.5B
| $47.4M | 0.03% |
2,346,010
| – | – |
|
|
DNR
585
DELISTED
Denbury Resources, Inc.
DNR
| $47.2M | 0.03% |
2,874,509
-708,944
| -20% | -$12.5M |
|
586
Reinsurance Group of America
RGA
$15.5B
| $47.2M | 0.03% |
609,451
-14,306
| -2% | -$1.04M |
|
587
lululemon athletica
LULU
$13.5B
| $47M | 0.03% |
795,826
-55,540
| -7% | -$3.81M |
|
588
Synopsys
SNPS
$74.4B
| $46.8M | 0.03% |
1,153,584
-55,757
| -5% | -$2.09M |
|
|
GNC
589
DELISTED
GNC Holdings, Inc.
GNC
| $46.8M | 0.03% |
800,439
-17,358
| -2% | -$1M |
|
590
Xylem
XYL
$27.3B
| $46.7M | 0.03% |
1,349,776
-1,280,179
| -49% | -$41.2M |
|
591
Cemex
CX
$17.1B
| $46.7M | 0.03% |
4,617,511
| – | – |
|
592
Goodyear
GT
$2B
| $46.7M | 0.03% |
1,957,849
-67,589
| -3% | -$1.5M |
|
|
HUB.B
593
DELISTED
HUBBELL INC CL-B
HUB.B
| $46.7M | 0.03% |
428,592
-9,508
| -2% | -$1.02M |
|
594
Williams-Sonoma
WSM
$26.9B
| $46.7M | 0.03% |
1,601,182
-37,872
| -2% | -$1.06M |
|
|
OCR
595
DELISTED
OMNICARE INC
OCR
| $46.6M | 0.03% |
771,550
-186,162
| -19% | -$10.7M |
|
|
CNQR
596
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
| $46.5M | 0.03% |
451,032
-10,411
| -2% | -$1.05M |
|
597
Realty Income
O
$59.6B
| $46.3M | 0.03% |
1,280,900
-321,222
| -20% | -$12.3M |
|
598
Vermilion Energy
VET
$1.82B
| $46.3M | 0.03% |
789,296
+8,414
| +1% | +$473K |
|
599
Kimco Realty
KIM
$17.2B
| $46.3M | 0.03% |
2,345,135
-893,640
| -28% | -$18.5M |
|
600
Ashland
ASH
$3.33B
| $46.3M | 0.03% |
974,786
| – | – |
|
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.