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 | |
|---|---|---|---|---|---|---|
|
POM
751
DELISTED
PEPCO HOLDINGS, INC.
POM
| $35.5M | 0.02% |
1,857,838
-169,434
| -8% | -$3.21M |
|
|
WNR
752
DELISTED
Western Refining Inc
WNR
| $35.5M | 0.02% |
837,789
| – | – |
|
|
DNY
753
DELISTED
DONNELLEY R R & SONS CO
DNY
| $35.5M | 0.02% |
1,750,688
| – | – |
|
754
NVR
NVR
$16.5B
| $35.5M | 0.02% |
34,576
-5,921
| -15% | -$5.62M |
|
755
Trinity Industries
TRN
$2.49B
| $35.4M | 0.02% |
1,806,056
-54,109
| -3% | -$981K |
|
|
UNS
756
DELISTED
UNS ENERGY CORP COM
UNS
| $35.4M | 0.02% |
591,146
| – | – |
|
757
ITT
ITT
$17.5B
| $35.3M | 0.02% |
813,946
| – | – |
|
758
Kennametal
KMT
$2.59B
| $35.3M | 0.02% |
678,363
| – | – |
|
759
Alkermes
ALKS
$8.22B
| $35.3M | 0.02% |
868,591
+50,359
| +6% | +$1.86M |
|
760
Leidos
LDOS
$14.5B
| $35.3M | 0.02% |
+759,095
| New | +$35M |
|
|
LVNTA
761
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $35.3M | 0.02% |
1,171,029
| – | – |
|
|
SLXP
762
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
| $35.1M | 0.02% |
390,063
+23,518
| +6% | +$1.88M |
|
763
AerCap
AER
$23.7B
| $35M | 0.02% |
913,401
| – | – |
|
|
IMGN
764
DELISTED
Immunogen Inc
IMGN
| $34.8M | 0.02% |
2,372,940
-30,915
| -1% | -$475K |
|
|
BRCD
765
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
| $34.8M | 0.02% |
3,922,756
-124,533
| -3% | -$1.04M |
|
766
Carter's
CRI
$1.42B
| $34.7M | 0.02% |
483,875
-14,648
| -3% | -$1.04M |
|
|
INVX
767
Innovex International
INVX
$1.96B
| $34.7M | 0.02% |
315,444
-8,938
| -3% | -$1.01M |
|
|
PL
768
DELISTED
PROTECTIVE LIFE CORP
PL
| $34.6M | 0.02% |
683,415
| – | – |
|
769
A.O. Smith
AOS
$8.17B
| $34.6M | 0.02% |
1,281,696
| – | – |
|
|
TEN
770
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $34.5M | 0.02% |
610,513
-58,862
| -9% | -$3.2M |
|
|
TEG
771
DELISTED
INTEGRYS ENERGY GROUP INC COM (USA)
TEG
| $34.5M | 0.02% |
634,257
-17,507
| -3% | -$979K |
|
772
Dentsply Sirona
XRAY
$2.68B
| $34.4M | 0.02% |
710,413
+41,633
| +6% | +$1.95M |
|
773
Brunswick
BC
$5.13B
| $34.3M | 0.02% |
745,584
-22,416
| -3% | -$996K |
|
774
Patterson-UTI
PTEN
$3.98B
| $34.3M | 0.02% |
1,353,370
-323,446
| -19% | -$7.74M |
|
|
DO
775
DELISTED
Diamond Offshore Drilling
DO
| $34.2M | 0.02% |
601,248
-16,565
| -3% | -$998K |
|
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.