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 | |
|---|---|---|---|---|---|---|
|
DRC
626
DELISTED
DRESSER-RAND GROUP INC
DRC
| $49.2M | 0.03% |
598,264
-622,566
| -51% | -$41.8M |
|
627
Allegion
ALLE
$13.4B
| $49.2M | 0.03% |
1,032,881
-953,073
| -48% | -$49.9M |
|
628
Old Dominion Freight Line
ODFL
$44.2B
| $49.1M | 0.03% |
2,084,859
-2,084,859
| -50% | -$45.9M |
|
|
LM
629
DELISTED
Legg Mason, Inc.
LM
| $48.9M | 0.03% |
956,422
-888,960
| -48% | -$44.1M |
|
|
GAS
630
DELISTED
AGL Resources Inc
GAS
| $48.8M | 0.03% |
949,552
-873,882
| -48% | -$46.1M |
|
631
Jazz Pharmaceuticals
JAZZ
$16.2B
| $48.7M | 0.03% |
303,116
-261,988
| -46% | -$40.3M |
|
632
ManpowerGroup
MAN
$2.41B
| $48.7M | 0.03% |
694,057
-694,057
| -50% | -$54.3M |
|
633
Patterson-UTI
PTEN
$3.74B
| $48.6M | 0.03% |
1,494,944
-1,211,796
| -45% | -$41.2M |
|
634
RPM International
RPM
$13.8B
| $48.6M | 0.03% |
1,062,104
-1,062,104
| -50% | -$48.7M |
|
635
Lennar Class A
LEN
$20.2B
| $48.5M | 0.03% |
1,312,354
-1,312,355
| -50% | -$48.7M |
|
636
Howard Hughes
HHH
$3.87B
| $48.4M | 0.03% |
338,676
-338,676
| -50% | -$49.6M |
|
637
Alliant Energy
LNT
$18.3B
| $48.3M | 0.03% |
1,744,008
-1,744,008
| -50% | -$50.3M |
|
638
IDEX
IEX
$17.2B
| $48.3M | 0.03% |
667,580
-667,580
| -50% | -$51.5M |
|
639
Watts Water Technologies
WTS
$11.5B
| $48.3M | 0.03% |
829,142
-1,041,142
| -56% | -$63.7M |
|
|
AUY
640
DELISTED
Yamana Gold, Inc.
AUY
| $48.3M | 0.03% |
8,032,257
-8,263,739
| -51% | -$65.9M |
|
641
NCR Voyix
VYX
$1.12B
| $48.2M | 0.03% |
2,353,790
-2,237,102
| -49% | -$45.4M |
|
|
OCR
642
DELISTED
OMNICARE INC
OCR
| $48M | 0.03% |
771,550
-771,550
| -50% | -$49M |
|
643
GameStop
GME
$9.82B
| $48M | 0.03% |
4,660,188
-4,268,700
| -48% | -$45.4M |
|
|
ANSS
644
DELISTED
Ansys
ANSS
| $47.9M | 0.03% |
633,467
-633,467
| -50% | -$49.7M |
|
645
SITE Centers
SITC
$227M
| $47.6M | 0.03% |
2,208,082
-1,949,811
| -47% | -$44.3M |
|
|
IPG
646
DELISTED
Interpublic Group of Companies
IPG
| $47.5M | 0.03% |
2,591,616
-2,591,616
| -50% | -$50.3M |
|
|
RAX
647
DELISTED
Rackspace Hosting Inc
RAX
| $47.3M | 0.03% |
1,453,459
-397,741
| -21% | -$13.2M |
|
648
MDU Resources
MDU
$4.17B
| $47.1M | 0.03% |
4,450,134
-3,762,928
| -46% | -$44.8M |
|
649
Camden Property Trust
CPT
$11.2B
| $46.8M | 0.03% |
683,260
-683,260
| -50% | -$49.5M |
|
650
AerCap
AER
$24B
| $46.6M | 0.03% |
1,139,437
-351,313
| -24% | -$16M |
|
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.