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 | |
|---|---|---|---|---|---|---|
|
DRE
901
DELISTED
Duke Realty Corp.
DRE
| $27.6M | 0.02% |
1,832,242
-755,406
| -29% | -$11.8M |
|
|
NSR
902
DELISTED
Neustar Inc
NSR
| $27.5M | 0.02% |
552,196
-21,580
| -4% | -$1.04M |
|
|
BYI
903
DELISTED
BALLY TECHNOLOGIES, INC.
BYI
| $27.5M | 0.02% |
350,858
| – | – |
|
|
SGI
904
Somnigroup International
SGI
$13.7B
| $27.5M | 0.02% |
2,038,904
| – | – |
|
|
THOR
905
DELISTED
THORATEC CORPORATION
THOR
| $27.5M | 0.02% |
750,584
| – | – |
|
|
FEIC
906
DELISTED
FEI COMPANY
FEIC
| $27.4M | 0.02% |
307,076
| – | – |
|
907
Steel Dynamics
STLD
$36B
| $27.4M | 0.02% |
1,403,716
+54,555
| +4% | +$1,000K |
|
908
Omega Healthcare
OHI
$15.1B
| $27.4M | 0.02% |
919,965
-30,451
| -3% | -$965K |
|
|
ACC
909
DELISTED
American Campus Communities, Inc.
ACC
| $27.4M | 0.02% |
849,816
-29,214
| -3% | -$981K |
|
|
SF
910
Stifel
SF
$12.6B
| $27.3M | 0.02% |
1,282,138
| – | – |
|
911
Allegion
ALLE
$13.4B
| $27.2M | 0.02% |
+614,409
| New | +$26.6M |
|
|
FCE.A
912
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $27.1M | 0.02% |
1,420,291
| – | – |
|
|
P
913
DELISTED
Pandora Media Inc
P
| $27.1M | 0.02% |
1,018,299
-69,791
| -6% | -$1.91M |
|
914
Commault Systems
CVLT
$4.88B
| $27.1M | 0.02% |
361,418
-13,240
| -4% | -$1.04M |
|
915
Curtiss-Wright
CW
$26.7B
| $27.1M | 0.02% |
434,885
| – | – |
|
|
JOY
916
DELISTED
Joy Global Inc
JOY
| $26.9M | 0.02% |
460,286
-156,219
| -25% | -$8.6M |
|
917
Teradyne
TER
$57.6B
| $26.9M | 0.02% |
1,525,974
-59,032
| -4% | -$997K |
|
918
ScottsMiracle-Gro
SMG
$3.82B
| $26.9M | 0.02% |
431,740
| – | – |
|
919
MGIC Investment
MTG
$6.16B
| $26.7M | 0.02% |
3,161,145
| – | – |
|
920
Genpact
G
$5.96B
| $26.7M | 0.02% |
1,452,171
| – | – |
|
|
BMR
921
DELISTED
BIOMED REALTY TRUST INC
BMR
| $26.6M | 0.02% |
1,469,030
-51,867
| -3% | -$983K |
|
|
STR
922
DELISTED
QUESTAR CORP
STR
| $26.6M | 0.02% |
1,156,918
-378,904
| -25% | -$8.7M |
|
|
WCG
923
DELISTED
Wellcare Health Plans, Inc.
WCG
| $26.6M | 0.02% |
377,606
| – | – |
|
|
ODP
924
DELISTED
ODP
ODP
| $26.6M | 0.02% |
502,598
+225,493
| +81% | +$11.9M |
|
|
MDR
925
DELISTED
McDermott International
MDR
| $26.5M | 0.02% |
965,560
| – | – |
|
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.