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 | |
|---|---|---|---|---|---|---|
|
CSC
401
DELISTED
Computer Sciences
CSC
| $82.5M | 0.04% |
3,201,478
-3,067,623
| -49% | -$78.9M |
|
|
LLTC
402
DELISTED
Linear Technology Corp
LLTC
| $82.1M | 0.04% |
1,850,578
-1,796,610
| -49% | -$81.6M |
|
|
WBC
403
DELISTED
WABCO HOLDINGS INC.
WBC
| $81.9M | 0.04% |
900,624
-858,016
| -49% | -$86.6M |
|
404
State Street
STT
$48.4B
| $81.1M | 0.04% |
1,101,477
-1,134,641
| -51% | -$80.8M |
|
|
DISCK
405
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $81.1M | 0.04% |
2,174,509
-53,403
| -2% | -$2.16M |
|
406
Southwest Airlines
LUV
$21.7B
| $81M | 0.04% |
2,398,466
-1,985,488
| -45% | -$60.6M |
|
407
Entergy
ETR
$50.3B
| $80.7M | 0.04% |
2,087,702
-2,113,282
| -50% | -$80M |
|
408
BioMarin Pharmaceuticals
BMRN
$11.9B
| $80.6M | 0.04% |
1,116,833
-1,116,833
| -50% | -$73.4M |
|
|
CAM
409
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
| $80.4M | 0.04% |
1,210,546
-1,124,954
| -48% | -$79.8M |
|
410
T. Rowe Price
TROW
$25.5B
| $80.1M | 0.04% |
1,022,178
-1,022,178
| -50% | -$82M |
|
411
Ralph Lauren
RL
$22.4B
| $80M | 0.04% |
485,850
-448,380
| -48% | -$73.8M |
|
412
Regions Financial
RF
$26.4B
| $80M | 0.04% |
7,971,220
-7,971,220
| -50% | -$81.4M |
|
413
Quest Diagnostics
DGX
$26B
| $79.8M | 0.04% |
1,314,355
-1,216,163
| -48% | -$74.9M |
|
414
Newell Brands
NWL
$2.21B
| $79.8M | 0.04% |
2,317,687
-2,237,637
| -49% | -$74M |
|
415
Expedia Group
EXPE
$36.5B
| $79.7M | 0.04% |
909,813
-909,813
| -50% | -$76.3M |
|
416
C.H. Robinson
CHRW
$20.5B
| $79.6M | 0.04% |
1,199,862
-1,199,862
| -50% | -$79.9M |
|
417
CarMax
KMX
$8.39B
| $79.5M | 0.04% |
1,710,924
-1,710,924
| -50% | -$87.6M |
|
418
Hormel Foods
HRL
$14.2B
| $79.4M | 0.04% |
3,089,968
-3,047,740
| -50% | -$74.4M |
|
|
PLL
419
DELISTED
PALL CORP
PLL
| $79.1M | 0.04% |
945,021
-1,748,109
| -65% | -$143M |
|
420
HF Sinclair
DINO
$16.2B
| $78.6M | 0.04% |
1,800,376
-1,800,376
| -50% | -$84M |
|
421
Brown-Forman Class B
BF.B
$13.5B
| $78.6M | 0.04% |
2,721,616
-2,721,615
| -50% | -$80M |
|
422
Autoliv
ALV
$9.14B
| $78.4M | 0.04% |
1,184,314
-1,156,440
| -49% | -$85M |
|
|
FL
423
DELISTED
Foot Locker
FL
| $78.4M | 0.04% |
1,408,983
-1,408,983
| -50% | -$74.1M |
|
424
Acuity Brands
AYI
$9.99B
| $78.1M | 0.04% |
663,869
-734,117
| -53% | -$86.5M |
|
|
ENDP
425
DELISTED
Endo International plc
ENDP
| $78M | 0.04% |
1,139,413
-1,542,761
| -58% | -$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.