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 | |
|---|---|---|---|---|---|---|
701
SM Energy
SM
$7.58B
| $39.6M | 0.02% |
556,172
| – | – |
|
702
Carlisle Companies
CSL
$15B
| $39.6M | 0.02% |
499,268
| – | – |
|
|
ROC
703
DELISTED
ROCKWOOD HLDGS INC
ROC
| $39.6M | 0.02% |
531,867
| – | – |
|
|
UFS
704
DELISTED
DOMTAR CORPORATION (New)
UFS
| $39.5M | 0.02% |
704,828
-489,024
| -41% | -$25.2M |
|
705
Revvity
RVTY
$12.7B
| $39.5M | 0.02% |
877,387
| – | – |
|
706
Jack Henry & Associates
JKHY
$11B
| $39.5M | 0.02% |
708,798
| – | – |
|
707
Assured Guaranty
AGO
$3.73B
| $39.5M | 0.02% |
1,560,641
| – | – |
|
708
Cboe Global Markets
CBOE
$31B
| $39.5M | 0.02% |
697,851
| – | – |
|
709
Old Dominion Freight Line
ODFL
$44.2B
| $39.4M | 0.02% |
2,084,859
| – | – |
|
710
Rayonier
RYN
$6.43B
| $39.1M | 0.02% |
1,256,778
+114,603
| +10% | +$3.45M |
|
|
BRE
711
DELISTED
BRE PROPERTIES INC CL A
BRE
| $39.1M | 0.02% |
622,670
| – | – |
|
712
SPX Corp
SPXC
$9.98B
| $39.1M | 0.02% |
1,578,901
| – | – |
|
713
Sally Beauty Holdings
SBH
$1.46B
| $38.8M | 0.02% |
1,415,540
| – | – |
|
714
Visteon
VC
$2.8B
| $38.7M | 0.02% |
438,086
| – | – |
|
715
Terex
TEX
$7.11B
| $38.7M | 0.02% |
873,318
| – | – |
|
716
Iron Mountain
IRM
$37.1B
| $38.7M | 0.02% |
1,517,873
| – | – |
|
717
Workday
WDAY
$39B
| $38.6M | 0.02% |
421,772
+145,559
| +53% | +$13.9M |
|
718
AerCap
AER
$24B
| $38.5M | 0.02% |
913,401
| – | – |
|
719
Cullen/Frost Bankers
CFR
$10.3B
| $38.5M | 0.02% |
496,517
| – | – |
|
|
HCC
720
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
| $38.5M | 0.02% |
845,282
| – | – |
|
721
Nu Skin
NUS
$254M
| $38.2M | 0.02% |
460,927
-52,015
| -10% | -$4.57M |
|
|
HSP
722
DELISTED
HOSPIRA INC
HSP
| $38.1M | 0.02% |
882,055
+119,881
| +16% | +$5.14M |
|
723
WEC Energy
WEC
$35.9B
| $38.1M | 0.02% |
819,104
+35,606
| +5% | +$1.53M |
|
|
TE
724
DELISTED
TECO ENERGY INC
TE
| $38.1M | 0.02% |
2,221,984
| – | – |
|
725
Factset
FDS
$9.35B
| $38.1M | 0.02% |
353,277
| – | – |
|
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.