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 | |
|---|---|---|---|---|---|---|
|
TFCF
301
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $115M | 0.06% |
3,459,711
-2,823,951
| -45% | -$95.3M |
|
302
Amphenol
APH
$185B
| $113M | 0.06% |
9,083,136
-9,083,136
| -50% | -$114M |
|
303
O'Reilly Automotive
ORLY
$75.1B
| $113M | 0.06% |
11,305,575
-11,305,575
| -50% | -$115M |
|
|
CHK
304
DELISTED
Chesapeake Energy Corporation
CHK
| $112M | 0.06% |
24,438
-26,936
| -52% | -$142M |
|
|
WFM
305
DELISTED
Whole Foods Market Inc
WFM
| $112M | 0.06% |
2,941,368
-2,170,288
| -42% | -$82.9M |
|
306
Paychex
PAYX
$43.4B
| $111M | 0.06% |
2,507,914
-2,507,914
| -50% | -$105M |
|
307
Public Service Enterprise Group
PEG
$38.7B
| $110M | 0.06% |
2,965,454
-2,769,500
| -48% | -$102M |
|
308
Huntsman Corp
HUN
$2.1B
| $110M | 0.06% |
4,216,413
-4,216,413
| -50% | -$115M |
|
309
Keurig Dr Pepper
KDP
$42.8B
| $109M | 0.06% |
1,699,596
-1,699,596
| -50% | -$104M |
|
|
STI
310
DELISTED
SunTrust Banks, Inc.
STI
| $109M | 0.06% |
2,865,891
-2,606,151
| -48% | -$101M |
|
311
NXP Semiconductors
NXPI
$60.8B
| $109M | 0.06% |
1,588,970
-1,938,970
| -55% | -$129M |
|
|
JWN
312
DELISTED
Nordstrom
JWN
| $109M | 0.06% |
1,588,932
-1,588,932
| -50% | -$109M |
|
|
MNK
313
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $108M | 0.06% |
1,200,761
-188,713
| -14% | -$14.8M |
|
|
QVCGA
314
DELISTED
QVC Group Inc Series A
QVCGA
| $107M | 0.06% |
91,241
-91,240
| -50% | -$108M |
|
315
Delta Air Lines
DAL
$56.7B
| $107M | 0.06% |
2,951,715
-2,269,403
| -43% | -$86.7M |
|
|
BIN
316
DELISTED
PROGRESSIVE WASTE SOLUTIONS LTD COM
BIN
| $107M | 0.06% |
4,138,703
-2,968,705
| -42% | -$75.4M |
|
317
Tyson Foods
TSN
$21.5B
| $106M | 0.06% |
2,697,223
-2,301,703
| -46% | -$88M |
|
318
Weyerhaeuser
WY
$17.6B
| $106M | 0.06% |
3,329,562
-5,221,976
| -61% | -$171M |
|
319
Roper Technologies
ROP
$40.4B
| $106M | 0.06% |
723,256
-750,488
| -51% | -$110M |
|
320
Charter Communications
CHTR
$17.3B
| $105M | 0.06% |
695,985
-553,419
| -44% | -$87.7M |
|
321
Capri Holdings
CPRI
$1.82B
| $105M | 0.06% |
1,466,884
-1,246,884
| -46% | -$100M |
|
322
Skyworks Solutions
SWKS
$9.2B
| $104M | 0.06% |
1,797,310
-1,942,710
| -52% | -$104M |
|
|
SIAL
323
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $104M | 0.06% |
766,992
-668,116
| -47% | -$71M |
|
324
Wolfspeed
WOLF
$1.04B
| $104M | 0.06% |
2,542,232
-2,052,106
| -45% | -$94.8M |
|
325
Check Point Software Technologies
CHKP
$14.3B
| $104M | 0.06% |
1,501,970
-1,501,970
| -50% | -$102M |
|
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.