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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
-0.22%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$185B
AUM Growth
-$186B
Cap. Flow
-$184B
Cap. Flow %
-99.43%
Top 10 Hldgs %
14.53%
Holding
2,360
New
110
Increased
49
Reduced
2,169
Closed
32

Top Buys

Rank Stock Value
1
WFT
Weatherford International plc
WFT
+$134M
2
AA icon
Alcoa
AA
+$129M
3
SWN
Southwestern Energy Company
SWN
+$99.6M
4
MTUS icon
Metallus
MTUS
+$92.2M
5
FWONK icon
Liberty Media Series C
FWONK
+$76.8M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$4.4B
2
BLK icon
Blackrock
BLK
+$3.79B
3
XOM icon
ExxonMobil
XOM
+$3.16B
4
MSFT icon
Microsoft
MSFT
+$2.79B
5
GOOG icon
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
MUR icon
351
Murphy Oil
MUR
$5.55B
$95M 0.05%
1,669,400
-1,570,012
-48% -$97.2M
NI icon
352
NiSource
NI
$21.5B
$95M 0.05%
5,897,702
-5,769,683
-49% -$88.1M
NVDA icon
353
NVIDIA
NVDA
$4.6T
$94.2M 0.05%
204,139,160
-210,779,080
-51% -$99.3M
THI
354
DELISTED
TIM HORTONS INC COM, CANADA
THI
$93.9M 0.05%
1,190,760
-1,190,760
-50% -$79.5M
HCBK
355
DELISTED
HUDSON CITY BANCORP INC
HCBK
$93.5M 0.05%
9,620,010
-9,120,010
-49% -$89.7M
STLD icon
356
Steel Dynamics
STLD
$36.4B
$93.1M 0.05%
4,118,570
-3,296,952
-44% -$72.1M
MTUS icon
357
Metallus
MTUS
$833M
$92.8M 0.05%
+1,996,282
New +$92.2M
LLL
358
DELISTED
L3 Technologies, Inc.
LLL
$92.7M 0.05%
779,152
-779,152
-50% -$88.4M
DLTR icon
359
Dollar Tree
DLTR
$24.8B
$92M 0.05%
1,639,914
-1,639,914
-50% -$90.4M
TIF
360
DELISTED
Tiffany & Co.
TIF
$91.8M 0.05%
953,121
-953,121
-50% -$95M
NRG icon
361
NRG Energy
NRG
$26.2B
$91.5M 0.05%
3,002,979
-2,618,887
-47% -$81.8M
AMG icon
362
Affiliated Managers Group
AMG
$9.51B
$91.3M 0.05%
455,544
-357,388
-44% -$72.9M
FLS icon
363
Flowserve
FLS
$8.94B
$91.2M 0.05%
1,292,540
-1,292,540
-50% -$95.8M
MAT icon
364
Mattel
MAT
$4.47B
$91.1M 0.05%
2,972,372
-2,715,596
-48% -$96.1M
CCEP icon
365
Coca-Cola Europacific Partners
CCEP
$49.1B
$91M 0.05%
2,050,744
-2,050,744
-50% -$96.2M
FLR icon
366
Fluor
FLR
$6.54B
$90.4M 0.05%
1,352,880
-1,352,880
-50% -$99.5M
ESS icon
367
Essex Property Trust
ESS
$19.1B
$89.8M 0.05%
502,319
-708,041
-58% -$134M
CA
368
DELISTED
CA, Inc.
CA
$89.5M 0.05%
3,201,531
-3,201,531
-50% -$91.4M
NTAP icon
369
NetApp
NTAP
$33.9B
$89.3M 0.05%
2,077,531
-1,358,487
-40% -$54.4M
XEC
370
DELISTED
CIMAREX ENERGY CO
XEC
$89.2M 0.05%
705,157
-632,039
-47% -$87.4M
XLNX
371
DELISTED
Xilinx Inc
XLNX
$88.8M 0.05%
2,097,724
-1,378,472
-40% -$60.2M
RCL icon
372
Royal Caribbean
RCL
$86.8B
$88.4M 0.05%
1,313,889
-1,313,889
-50% -$81.5M
FAST icon
373
Fastenal
FAST
$54.8B
$88.2M 0.05%
7,859,084
-7,859,084
-50% -$89.8M
KSU
374
DELISTED
Kansas City Southern
KSU
$88.2M 0.05%
727,478
-727,478
-50% -$83M
CLX icon
375
Clorox
CLX
$12B
$88M 0.05%
915,845
-915,845
-50% -$82.8M
13 14
15
16 17

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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.