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 |
WFT
Weatherford International plc
WFT
|
+$134M |
| 2 |
Alcoa
AA
|
+$129M |
| 3 |
SWN
Southwestern Energy Company
SWN
|
+$99.6M |
| 4 |
Metallus
MTUS
|
+$92.2M |
| 5 |
Liberty Media Series C
FWONK
|
+$76.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$4.4B |
| 2 |
Blackrock
BLK
|
+$3.79B |
| 3 |
ExxonMobil
XOM
|
+$3.16B |
| 4 |
Microsoft
MSFT
|
+$2.79B |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$2.22B |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17% |
| 2 | Technology | 13.81% |
| 3 | Healthcare | 12.74% |
| 4 | Energy | 9.56% |
| 5 | Industrials | 9.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Waste Management
WM
$95B
| $158M | 0.09% |
3,325,696
-3,325,696
| -50% | -$152M |
|
227
Bath & Body Works
BBWI
$3.97B
| $154M | 0.08% |
2,837,137
-2,508,116
| -47% | -$126M |
|
228
BorgWarner
BWA
$12.8B
| $153M | 0.08% |
3,303,516
-2,744,750
| -45% | -$150M |
|
229
Public Storage
PSA
$61.5B
| $153M | 0.08% |
922,242
-922,242
| -50% | -$159M |
|
230
Sherwin-Williams
SHW
$84.8B
| $151M | 0.08% |
2,063,322
-2,063,322
| -50% | -$146M |
|
231
Aptiv
APTV
$12.3B
| $150M | 0.08% |
2,453,237
-2,573,411
| -51% | -$176M |
|
232
America Movil
AMX
$74.6B
| $150M | 0.08% |
5,945,207
-7,011,225
| -54% | -$169M |
|
233
HCA Healthcare
HCA
$90.6B
| $148M | 0.08% |
2,103,216
-2,165,616
| -51% | -$143M |
|
234
Deere & Co
DE
$165B
| $148M | 0.08% |
1,800,498
-2,358,644
| -57% | -$202M |
|
235
Applied Materials
AMAT
$347B
| $146M | 0.08% |
6,757,181
-4,980,191
| -42% | -$110M |
|
236
Equity Residential
EQR
$25.8B
| $145M | 0.08% |
2,359,418
-2,521,256
| -52% | -$163M |
|
237
Zoetis
ZTS
$32.7B
| $145M | 0.08% |
3,922,721
-4,422,721
| -53% | -$151M |
|
238
Moody's
MCO
$83.7B
| $144M | 0.08% |
1,527,536
-1,527,536
| -50% | -$140M |
|
239
American Electric Power
AEP
$70.4B
| $143M | 0.08% |
2,744,170
-3,468,248
| -56% | -$183M |
|
240
Welltower
WELL
$173B
| $143M | 0.08% |
2,289,668
-1,815,368
| -44% | -$117M |
|
241
Chipotle Mexican Grill
CMG
$43.9B
| $143M | 0.08% |
10,705,400
-10,705,400
| -50% | -$140M |
|
242
Xerox
XRX
$345M
| $142M | 0.08% |
4,085,652
-4,085,652
| -50% | -$143M |
|
|
LNKD
243
DELISTED
LinkedIn Corporation
LNKD
| $142M | 0.08% |
684,808
-684,808
| -50% | -$137M |
|
244
Carnival Corporation Ltd
CCL
$38.1B
| $140M | 0.08% |
3,485,935
-3,534,871
| -50% | -$134M |
|
|
GMCR
245
DELISTED
KEURIG GREEN MTN INC
GMCR
| $139M | 0.08% |
1,070,550
-1,070,550
| -50% | -$134M |
|
|
WCN
246
Waste Connections
WCN
$43.6B
| $139M | 0.08% |
4,292,217
-4,292,217
| -50% | -$139M |
|
247
Gen Digital
GEN
$16.5B
| $138M | 0.07% |
5,876,227
-5,689,287
| -49% | -$136M |
|
248
Cheniere Energy
LNG
$54.2B
| $137M | 0.07% |
1,713,522
-1,738,478
| -50% | -$133M |
|
249
Zimmer Biomet
ZBH
$18.8B
| $137M | 0.07% |
1,401,761
-1,326,120
| -49% | -$130M |
|
250
Ventas
VTR
$47.5B
| $136M | 0.07% |
1,919,813
-1,786,200
| -48% | -$130M |
|
Similar funds
Norges Bank's Q3 2014 Portfolio in Review
As of Q3 2014, Norges Bank held 2,360 positions worth $185B, down 50% from $371B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Norges Bank withdrew a net $184B in Q3 2014, closing 32 positions and reducing 2,169 holdings. Its most notable exit was Deutsche Bank, an estimated $1.74B position sold in full.
By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 17% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Norges Bank opened a new position in Metallus worth $92.8M.
- Norges Bank's largest Q3 2014 buy was Metallus: 1,996,282 shares worth $92.8M.
- Norges Bank added most to Weatherford International plc in Q3 2014, an estimated $134M increase.
- Norges Bank's biggest Q3 2014 reduction was Apple, cutting an estimated $4.4B.
- Norges Bank fully exited Deutsche Bank in Q3 2014, selling an estimated $1.74B.
- Norges Bank's ten largest holdings make up 15% of its $185B portfolio in Q3 2014.
- Norges Bank opened 110 new positions and closed 32 in Q3 2014.
- Norges Bank's portfolio value fell 50% quarter-over-quarter to $185B.
Based on Norges Bank's 13F filing for Q3 2014, filed 7 Nov 2014.