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 | |
|---|---|---|---|---|---|---|
|
VR
776
DELISTED
Validus Hold Ltd
VR
| $34.2M | 0.02% |
848,821
-25,151
| -3% | -$983K |
|
777
Innoviva
INVA
$1.55B
| $34.1M | 0.02% |
1,187,416
-294,252
| -20% | -$8.61M |
|
|
BRE
778
DELISTED
BRE PROPERTIES INC CL A
BRE
| $34.1M | 0.02% |
622,670
-18,577
| -3% | -$996K |
|
|
DST
779
DELISTED
DST Systems Inc.
DST
| $34M | 0.02% |
749,078
| – | – |
|
780
Atmos Energy
ATO
$28.8B
| $33.9M | 0.02% |
746,217
| – | – |
|
|
ATW
781
DELISTED
Atwood Oceanics
ATW
| $33.9M | 0.02% |
634,612
-18,650
| -3% | -$1.01M |
|
782
United Therapeutics
UTHR
$25.8B
| $33.9M | 0.02% |
299,603
+11,288
| +4% | +$1.02M |
|
|
AWH
783
DELISTED
Allied World Assurance Co Hld Lt
AWH
| $33.8M | 0.02% |
898,275
| – | – |
|
|
RAX
784
DELISTED
Rackspace Hosting Inc
RAX
| $33.8M | 0.02% |
862,828
-164,968
| -16% | -$7.18M |
|
785
Agnico Eagle Mines
AEM
$73.6B
| $33.7M | 0.02% |
1,275,930
+10,047
| +0.8% | +$270K |
|
|
XLS
786
DELISTED
EXELIS INC COM STK
XLS
| $33.7M | 0.02% |
1,890,960
| – | – |
|
787
RenaissanceRe
RNR
$13.3B
| $33.6M | 0.02% |
345,591
-88,643
| -20% | -$8.26M |
|
|
DHC
788
Diversified Healthcare Trust
DHC
$2.15B
| $33.6M | 0.02% |
1,523,003
-42,217
| -3% | -$977K |
|
789
Ryder
R
$9.83B
| $33.5M | 0.02% |
453,612
| – | – |
|
790
AutoNation
AN
$7.11B
| $33.5M | 0.02% |
673,511
-36,549
| -5% | -$1.81M |
|
791
Lennox International
LII
$14.4B
| $33.4M | 0.02% |
393,051
-12,642
| -3% | -$1M |
|
792
CNO Financial Group
CNO
$5.14B
| $33.3M | 0.02% |
1,882,971
-64,641
| -3% | -$1.04M |
|
|
RAD
793
DELISTED
Rite Aid Corporation
RAD
| $33.2M | 0.02% |
328,398
-10,112
| -3% | -$1.08M |
|
|
WR
794
DELISTED
Westar Energy Inc
WR
| $33.2M | 0.02% |
1,032,717
-31,857
| -3% | -$1.01M |
|
795
Toro Company
TTC
$8.75B
| $33.2M | 0.02% |
1,043,706
| – | – |
|
796
Essential Utilities
WTRG
$11.3B
| $33.1M | 0.02% |
1,402,030
-83,646
| -6% | -$2.04M |
|
797
Lamar Advertising Co
LAMR
$16.2B
| $33.1M | 0.02% |
632,872
| – | – |
|
798
Commerce Bancshares
CBSH
$8.53B
| $33M | 0.02% |
1,319,978
-105,339
| -7% | -$2.58M |
|
799
Sonoco
SON
$5.57B
| $32.7M | 0.02% |
784,284
-37,381
| -5% | -$1.5M |
|
800
WEX
WEX
$6.37B
| $32.7M | 0.02% |
330,155
-9,149
| -3% | -$859K |
|
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.