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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+10.46%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$174B
AUM Growth
+$2.27B
Cap. Flow
-$13.1B
Cap. Flow %
-7.57%
Top 10 Hldgs %
14.76%
Holding
2,134
New
50
Increased
123
Reduced
812
Closed
36

Top Buys

Rank Stock Value
1
HLT icon
Hilton Worldwide
HLT
+$436M
2
CNH
CNH Industrial
CNH
+$234M
3
CMI icon
Cummins
CMI
+$187M
4
PRGO icon
Perrigo
PRGO
+$137M
5
RSG icon
Republic Services
RSG
+$99.1M

Top Sells

Rank Stock Value
1
BLK icon
Blackrock
BLK
+$467M
2
AAPL icon
Apple
AAPL
+$378M
3
JPM icon
JPMorgan Chase
JPM
+$343M
4
XOM icon
ExxonMobil
XOM
+$312M
5
CVX icon
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
ASB icon
951
Associated Banc-Corp
ASB
$5.83B
$25.8M 0.01%
1,479,914
– –
NFX
952
DELISTED
Newfield Exploration
NFX
$25.7M 0.01%
1,043,910
– –
ELS icon
953
Equity Lifestyle Properties
ELS
$12.6B
$25.7M 0.01%
1,419,064
– –
X
954
DELISTED
US Steel
X
$25.7M 0.01%
871,066
– –
RDN icon
955
Radian Group
RDN
$5.18B
$25.7M 0.01%
1,819,026
– –
CIE
956
DELISTED
Cobalt International Energy, Inc
CIE
$25.7M 0.01%
104,081
-35,834
-26% -$11.2M
LHO
957
DELISTED
LaSalle Hotel Properties
LHO
$25.6M 0.01%
830,912
– –
BDC icon
958
Belden
BDC
$4.85B
$25.5M 0.01%
361,895
-13,934
-4% -$942K
DBI icon
959
Designer Brands
DBI
$307M
$25.5M 0.01%
595,819
-22,883
-4% -$992K
FAF icon
960
First American
FAF
$7.66B
$25.4M 0.01%
901,269
– –
SFG
961
DELISTED
STANCORP FINL GRP
SFG
$25.4M 0.01%
382,974
– –
PRA
962
DELISTED
ProAssurance
PRA
$25.4M 0.01%
523,173
– –
ALNY icon
963
Alnylam Pharmaceuticals
ALNY
$27.5B
$25.3M 0.01%
393,891
+15,873
+4% +$947K
ACM icon
964
Aecom
ACM
$9.3B
$25.3M 0.01%
859,148
-68,435
-7% -$2.07M
FWLT
965
DELISTED
FOSTER WHEELER AG (SWITZERLAND)
FWLT
$25.3M 0.01%
765,078
– –
ICON
966
DELISTED
Iconix Brand Group, Inc.
ICON
$25.2M 0.01%
63,498
– –
VVC
967
DELISTED
Vectren Corporation
VVC
$25.2M 0.01%
709,843
– –
HLX icon
968
Helix Energy Solutions
HLX
$1.4B
$25.2M 0.01%
1,086,761
– –
FHN icon
969
First Horizon
FHN
$12.2B
$25.2M 0.01%
2,159,644
– –
WKC icon
970
World Kinect Corp
WKC
$2.04B
$25.2M 0.01%
582,906
– –
IPGP icon
971
IPG Photonics
IPGP
$3.61B
$25.2M 0.01%
324,153
-16,134
-5% -$1.1M
BRS
972
DELISTED
Bristow Group, Inc.
BRS
$25.1M 0.01%
334,708
– –
UNT
973
DELISTED
UNIT Corporation
UNT
$25.1M 0.01%
485,814
– –
LPLA icon
974
LPL Financial
LPLA
$28.3B
$25M 0.01%
532,275
-48,364
-8% -$2.03M
NAV
975
DELISTED
Navistar International
NAV
$25M 0.01%
654,581
– –
37 38
39
40 41

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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.