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 |
S
Sprint Corporation
S
|
+$664M |
| 2 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$612M |
| 3 |
Pfizer
PFE
|
+$224M |
| 4 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$160M |
| 5 |
JPMorgan Chase
JPM
|
+$147M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NWSA
NEWS CORPORATION CL-A
NWSA
|
+$631M |
| 2 |
FON
SPRINT CORP FON COM
FON
|
+$365M |
| 3 |
Zoetis
ZTS
|
+$275M |
| 4 |
American Express
AXP
|
+$206M |
| 5 |
Ameriprise Financial
AMP
|
+$151M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.35% |
| 2 | Technology | 12.95% |
| 3 | Healthcare | 11.62% |
| 4 | Industrials | 9.91% |
| 5 | Energy | 9.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Occidental Petroleum
OXY
$55.2B
| $621M | 0.36% |
6,934,410
| – | – |
|
52
Bristol-Myers Squibb
BMY
$130B
| $616M | 0.36% |
13,311,272
-186,611
| -1% | -$8.19M |
|
|
TWX
53
DELISTED
Time Warner Inc
TWX
| $611M | 0.36% |
9,690,492
-7,113
| -0.1% | -$425K |
|
54
Mastercard
MA
$499B
| $611M | 0.36% |
9,087,080
+1,374,270
| +18% | +$86.3M |
|
55
ConocoPhillips
COP
$143B
| $606M | 0.35% |
8,722,109
| – | – |
|
56
Danaher
DHR
$142B
| $606M | 0.35% |
13,000,337
+627,830
| +5% | +$28.5M |
|
57
Berkshire Hathaway Class B
BRK.B
$1.1T
| $597M | 0.35% |
5,257,780
-92,885
| -2% | -$10.7M |
|
58
AbbVie
ABBV
$470B
| $560M | 0.33% |
12,516,993
-23,052
| -0.2% | -$1.02M |
|
59
Ford
F
$62.1B
| $545M | 0.32% |
32,282,043
+555,899
| +2% | +$9.39M |
|
60
Scotiabank
BNS
$107B
| $541M | 0.32% |
10,143,196
+105,149
| +1% | +$5.49M |
|
61
eBay
EBAY
$52.1B
| $530M | 0.31% |
22,567,383
-903,950
| -4% | -$20.3M |
|
|
62
American Express
AXP
$226B
| $527M | 0.31% |
6,976,338
-2,742,298
| -28% | -$206M |
|
|
GGP
63
DELISTED
GGP Inc.
GGP
| $505M | 0.29% |
26,186,543
+5,892,063
| +29% | +$119M |
|
|
64
Ameriprise Financial
AMP
$48.2B
| $501M | 0.29% |
5,495,462
-1,711,791
| -24% | -$151M |
|
65
United Parcel Service
UPS
$89.3B
| $496M | 0.29% |
5,432,585
-352,938
| -6% | -$31M |
|
66
US Bancorp
USB
$99.9B
| $488M | 0.28% |
13,342,453
-340,676
| -2% | -$12.6M |
|
67
Eli Lilly
LLY
$1.09T
| $485M | 0.28% |
9,646,151
+688,097
| +8% | +$36M |
|
68
Seagate
STX
$174B
| $478M | 0.28% |
10,925,584
+111,367
| +1% | +$4.68M |
|
|
CELG
69
DELISTED
Celgene Corp
CELG
| $469M | 0.27% |
6,088,048
-471,776
| -7% | -$33.1M |
|
70
Suncor Energy
SU
$77.3B
| $464M | 0.27% |
12,951,183
-64,516
| -0.5% | -$2.15M |
|
|
APC
71
DELISTED
Anadarko Petroleum
APC
| $458M | 0.27% |
4,925,423
-217,991
| -4% | -$19.8M |
|
72
Mondelez International
MDLZ
$84.9B
| $454M | 0.27% |
14,457,668
-410,001
| -3% | -$12.7M |
|
73
Abbott
ABT
$189B
| $451M | 0.26% |
13,589,384
+353,702
| +3% | +$12.4M |
|
74
Medtronic
MDT
$111B
| $443M | 0.26% |
8,316,278
| – | – |
|
75
Costco
COST
$431B
| $425M | 0.25% |
3,689,844
-351,228
| -9% | -$40.5M |
|
Similar funds
Norges Bank's Q3 2013 Portfolio in Review
As of Q3 2013, Norges Bank held 2,123 positions worth $171B, up 6.4% from $161B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Trading was light in Q3 2013: portfolio turnover was 2.6%. Norges Bank opened 16 new positions and exited 39, leaving the 2,123-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 19% a quarter earlier, followed by Technology and Healthcare.
- Norges Bank's largest Q3 2013 buy was Sprint Corporation: 100,920,567 shares worth $627M.
- Norges Bank added most to Pfizer in Q3 2013, an estimated $224M increase.
- Norges Bank's biggest Q3 2013 reduction was Zoetis, cutting an estimated $275M.
- Norges Bank fully exited NEWS CORPORATION CL-A in Q3 2013, selling an estimated $631M.
- Norges Bank's ten largest holdings make up 14% of its $171B portfolio in Q3 2013.
- Norges Bank opened 16 new positions and closed 39 in Q3 2013.
- Norges Bank's portfolio value rose 6.4% quarter-over-quarter to $171B.
Based on Norges Bank's 13F filing for Q3 2013, filed 12 Nov 2013.