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 | |
|---|---|---|---|---|---|---|
376
Bread Financial
BFH
$4.32B
| $87.6M | 0.05% |
442,352
-383,210
| -46% | -$80.5M |
|
377
Tapestry
TPR
$30.3B
| $87.5M | 0.05% |
2,457,257
-1,847,089
| -43% | -$66.2M |
|
378
Navient
NAVI
$819M
| $87M | 0.05% |
4,914,218
-4,209,880
| -46% | -$74.1M |
|
|
BCR
379
DELISTED
CR Bard Inc.
BCR
| $86.7M | 0.05% |
607,298
-435,628
| -42% | -$64.3M |
|
380
Universal Health Services
UHS
$10.2B
| $86.7M | 0.05% |
829,309
-785,649
| -49% | -$83.5M |
|
381
Molson Coors Class B
TAP
$8.02B
| $86.5M | 0.05% |
1,162,514
-1,162,514
| -50% | -$84.8M |
|
|
ALTR
382
DELISTED
Altera Corp
ALTR
| $86.4M | 0.05% |
2,415,354
-2,415,354
| -50% | -$84.1M |
|
383
Annaly Capital Management
NLY
$17.3B
| $86.3M | 0.05% |
2,019,827
-2,107,546
| -51% | -$96.3M |
|
|
ATVI
384
DELISTED
Activision Blizzard
ATVI
| $86.2M | 0.05% |
4,148,494
-4,148,494
| -50% | -$94.3M |
|
385
Helmerich & Payne
HP
$3.34B
| $86.2M | 0.05% |
881,199
-861,577
| -49% | -$91.5M |
|
386
CGI
GIB
$15.6B
| $85.5M | 0.05% |
2,525,813
-2,393,185
| -49% | -$84.2M |
|
387
J.M. Smucker
SJM
$13.5B
| $85.4M | 0.05% |
863,105
-863,105
| -50% | -$88.6M |
|
388
Monster Beverage
MNST
$95.1B
| $85.3M | 0.05% |
5,579,934
-4,842,606
| -46% | -$63.5M |
|
389
Autodesk
ADSK
$51.8B
| $85.2M | 0.05% |
1,546,381
-1,510,303
| -49% | -$82.8M |
|
|
JNPR
390
DELISTED
Juniper Networks
JNPR
| $84.7M | 0.05% |
3,824,047
-3,491,407
| -48% | -$81.9M |
|
|
IMS
391
DELISTED
IMS HEALTH HLDGS INC COM STK (DE)
IMS
| $84.6M | 0.05% |
3,230,000
-3,270,000
| -50% | -$88.1M |
|
392
Ametek
AME
$53.9B
| $84.1M | 0.05% |
1,674,651
-1,674,651
| -50% | -$86.9M |
|
|
COL
393
DELISTED
Rockwell Collins
COL
| $84M | 0.05% |
1,070,372
-1,030,588
| -49% | -$79.2M |
|
|
VER
394
DELISTED
VEREIT, Inc.
VER
| $83.8M | 0.05% |
1,389,869
-1,621,925
| -54% | -$104M |
|
395
TripAdvisor
TRIP
$1.7B
| $83.7M | 0.05% |
915,654
-894,478
| -49% | -$88.6M |
|
396
Henry Schein
HSIC
$9.78B
| $83.7M | 0.05% |
1,831,596
-1,440,345
| -44% | -$66.8M |
|
397
Travel + Leisure Co
TNL
$4.76B
| $83.4M | 0.05% |
2,273,228
-2,273,228
| -50% | -$80.9M |
|
|
XL
398
DELISTED
XL Group Ltd.
XL
| $83.2M | 0.05% |
2,508,050
-2,508,050
| -50% | -$83.7M |
|
399
Herc Holdings
HRI
$4.78B
| $83M | 0.05% |
1,089,530
-849,463
| -44% | -$72.6M |
|
400
Dover
DOV
$26.7B
| $83M | 0.04% |
1,278,531
-1,278,531
| -50% | -$90M |
|
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.