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 | |
|---|---|---|---|---|---|---|
|
SNI
551
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| $57.8M | 0.03% |
740,630
-614,426
| -45% | -$49.5M |
|
|
ADT
552
DELISTED
ADT Corp
ADT
| $57.7M | 0.03% |
1,628,209
-1,628,209
| -50% | -$57.7M |
|
|
NLSN
553
DELISTED
Nielsen Holdings plc
NLSN
| $57.7M | 0.03% |
1,302,043
-1,302,043
| -50% | -$61.2M |
|
554
Crown Castle
CCI
$33.4B
| $57.6M | 0.03% |
715,768
+361,556
| +102% | +$27.9M |
|
555
Ameren
AEE
$30.1B
| $57.5M | 0.03% |
1,499,152
-935,130
| -38% | -$36.6M |
|
|
MRSH
556
Marsh
MRSH
$91.4B
| $57.1M | 0.03% |
1,090,696
-1,128,762
| -51% | -$58.9M |
|
557
Pinnacle West Capital
PNW
$12.3B
| $57M | 0.03% |
1,043,588
-927,582
| -47% | -$51.7M |
|
558
Vermilion Energy
VET
$1.76B
| $56.9M | 0.03% |
933,202
-756,238
| -45% | -$48.4M |
|
559
Marvell Technology
MRVL
$165B
| $56.9M | 0.03% |
4,219,036
-4,219,036
| -50% | -$58.1M |
|
560
Jefferies Financial Group
JEF
$12.7B
| $56.4M | 0.03% |
2,643,142
-2,643,141
| -50% | -$59.5M |
|
561
Core Laboratories
CLB
$477M
| $56.3M | 0.03% |
384,759
-384,759
| -50% | -$59.4M |
|
562
D.R. Horton
DHI
$40.7B
| $56.3M | 0.03% |
2,741,974
-2,134,844
| -44% | -$47M |
|
563
Mueller Water Products
MWA
$3.9B
| $56.2M | 0.03% |
6,787,117
-4,477,117
| -40% | -$38.8M |
|
564
UDR
UDR
$12.3B
| $56.2M | 0.03% |
2,062,005
-2,133,079
| -51% | -$61.7M |
|
565
Genworth Financial
GNW
$3.81B
| $56.1M | 0.03% |
4,284,109
-3,819,279
| -47% | -$55.2M |
|
566
Gartner
IT
$10.2B
| $55.8M | 0.03% |
759,978
-759,978
| -50% | -$55.2M |
|
567
Robert Half
RHI
$3.81B
| $55.8M | 0.03% |
1,138,218
-1,014,938
| -47% | -$50.3M |
|
568
Snap-on
SNA
$21.2B
| $55.8M | 0.03% |
460,476
-460,476
| -50% | -$56.6M |
|
569
Cameco
CCJ
$38.4B
| $55.6M | 0.03% |
3,144,464
-3,144,464
| -50% | -$61.6M |
|
|
CNQR
570
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
| $55.6M | 0.03% |
438,200
-463,864
| -51% | -$47.1M |
|
|
CBI
571
DELISTED
Chicago Bridge & Iron Nv
CBI
| $55.5M | 0.03% |
960,180
-779,374
| -45% | -$49.1M |
|
572
Wheaton Precious Metals
WPM
$51.5B
| $55.4M | 0.03% |
2,774,042
-2,761,626
| -50% | -$68.8M |
|
|
IHS
573
DELISTED
IHS INC CL-A COM STK
IHS
| $55.1M | 0.03% |
439,934
-439,934
| -50% | -$59.7M |
|
|
Y
574
DELISTED
Alleghany Corp
Y
| $55M | 0.03% |
131,528
-128,782
| -49% | -$55M |
|
575
Flex
FLEX
$41B
| $54.9M | 0.03% |
7,063,759
-7,063,759
| -50% | -$57.7M |
|
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.