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 | |
|---|---|---|---|---|---|---|
801
Rayonier
RYN
$6.55B
| $32.6M | 0.02% |
1,142,175
-368,058
| -24% | -$11.9M |
|
802
W.P. Carey
WPC
$16.8B
| $32.5M | 0.02% |
540,334
| – | – |
|
803
WEC Energy
WEC
$35.7B
| $32.4M | 0.02% |
783,498
-229,037
| -23% | -$9.5M |
|
804
Altisource Portfolio Solutions
ASPS
$63.6M
| $32.3M | 0.02% |
25,436
| – | – |
|
|
URS
805
DELISTED
URS CORP
URS
| $32.3M | 0.02% |
609,170
-19,704
| -3% | -$1.04M |
|
806
Jazz Pharmaceuticals
JAZZ
$15.9B
| $32.1M | 0.02% |
254,009
+17,584
| +7% | +$1.82M |
|
|
WCC
807
WESCO International
WCC
$16.7B
| $32.1M | 0.02% |
352,947
-12,209
| -3% | -$1.02M |
|
808
Domino's
DPZ
$11.5B
| $32.1M | 0.02% |
460,269
-14,993
| -3% | -$1.03M |
|
|
AZPN
809
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $32.1M | 0.02% |
766,822
| – | – |
|
810
White Mountains Insurance
WTM
$5.2B
| $31.9M | 0.02% |
52,881
| – | – |
|
|
HSH
811
DELISTED
HILLSHIRE BRANDS CO
HSH
| $31.6M | 0.02% |
946,474
-180,345
| -16% | -$5.85M |
|
|
KATE
812
DELISTED
Kate Spade & Company
KATE
| $31.6M | 0.02% |
986,677
-11,268
| -1% | -$332K |
|
813
United Natural Foods
UNFI
$3.08B
| $31.6M | 0.02% |
419,393
-14,613
| -3% | -$1.03M |
|
814
ResMed
RMD
$30.6B
| $31.6M | 0.02% |
671,387
+21,848
| +3% | +$1.11M |
|
815
Service Corp International
SCI
$11.7B
| $31.6M | 0.02% |
1,740,503
| – | – |
|
816
Cadence Design Systems
CDNS
$93.6B
| $31.5M | 0.02% |
2,249,874
-77,042
| -3% | -$1.03M |
|
|
HSP
817
DELISTED
HOSPIRA INC
HSP
| $31.5M | 0.02% |
762,174
-58,806
| -7% | -$2.37M |
|
818
Cleveland-Cliffs
CLF
$6.57B
| $31.4M | 0.02% |
1,197,134
+41,667
| +4% | +$1.03M |
|
|
SIX
819
DELISTED
Six Flags Entertainment Corp.
SIX
| $31.4M | 0.02% |
852,102
-27,352
| -3% | -$986K |
|
|
FMER
820
DELISTED
FIRSTMERIT CORP
FMER
| $31.4M | 0.02% |
1,410,492
-45,725
| -3% | -$1.03M |
|
|
TCO
821
DELISTED
Taubman Centers Inc.
TCO
| $31.3M | 0.02% |
489,602
-15,335
| -3% | -$1.02M |
|
822
Gaming and Leisure Properties
GLPI
$12.7B
| $31.3M | 0.02% |
+615,545
| New | +$29.3M |
|
|
SGEN
823
DELISTED
Seagen Inc. Common Stock
SGEN
| $31.2M | 0.02% |
781,238
+48,071
| +7% | +$1.96M |
|
824
BHP
BHP
$215B
| $31M | 0.02% |
537,812
| – | – |
|
825
Prosperity Bancshares
PB
$8.97B
| $31M | 0.02% |
488,974
| – | – |
|
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.