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 | |
|---|---|---|---|---|---|---|
701
Global Payments
GPN
$23.1B
| $42M | 0.02% |
1,202,024
-1,258,672
| -51% | -$45M |
|
702
Reliance Steel & Aluminium
RS
$20.7B
| $42M | 0.02% |
613,684
-585,444
| -49% | -$41.6M |
|
703
Knowles
KN
$3.11B
| $41.9M | 0.02% |
1,581,686
-779,930
| -33% | -$23.8M |
|
704
Air Products & Chemicals
APD
$65.4B
| $41.8M | 0.02% |
347,336
-363,471
| -51% | -$44.4M |
|
705
Avery Dennison
AVY
$13B
| $41.8M | 0.02% |
936,719
-686,263
| -42% | -$33.4M |
|
|
ROC
706
DELISTED
ROCKWOOD HLDGS INC
ROC
| $41.7M | 0.02% |
545,822
-545,822
| -50% | -$43.7M |
|
707
Alexandria Real Estate Equities
ARE
$9.02B
| $41.7M | 0.02% |
565,345
-565,345
| -50% | -$44M |
|
|
WWAV
708
DELISTED
The WhiteWave Foods Company
WWAV
| $41.6M | 0.02% |
1,145,650
-1,145,650
| -50% | -$38.3M |
|
709
Copart
CPRT
$26.9B
| $41.6M | 0.02% |
10,620,456
-13,674,728
| -56% | -$58.3M |
|
|
TE
710
DELISTED
TECO ENERGY INC
TE
| $41.2M | 0.02% |
2,371,984
-2,071,984
| -47% | -$36.7M |
|
|
TEG
711
DELISTED
INTEGRYS ENERGY GROUP INC COM (USA)
TEG
| $41.1M | 0.02% |
634,257
-634,257
| -50% | -$42.7M |
|
|
TIME
712
DELISTED
Time Inc.
TIME
| $41M | 0.02% |
1,748,514
-64,892
| -4% | -$1.56M |
|
713
Stratasys
SSYS
$689M
| $40.9M | 0.02% |
338,606
-338,606
| -50% | -$38.3M |
|
714
Sun Life Financial
SLF
$45.9B
| $40.8M | 0.02% |
1,124,390
-163,230
| -13% | -$6.13M |
|
|
HCC
715
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
| $40.8M | 0.02% |
845,282
-845,282
| -50% | -$41.1M |
|
716
CoStar Group
CSGP
$11.6B
| $40.8M | 0.02% |
2,621,200
-2,621,200
| -50% | -$39M |
|
|
CVC
717
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
| $40.6M | 0.02% |
2,317,615
-1,917,615
| -45% | -$35.5M |
|
718
Eagle Materials
EXP
$6.28B
| $40.6M | 0.02% |
398,410
-398,410
| -50% | -$38.7M |
|
719
Gaming and Leisure Properties
GLPI
$12.6B
| $40.6M | 0.02% |
1,312,672
-835,326
| -39% | -$28.1M |
|
|
EGN
720
DELISTED
Energen
EGN
| $40.5M | 0.02% |
560,307
-505,871
| -47% | -$40.5M |
|
721
Centene
CNC
$30.2B
| $40.4M | 0.02% |
1,954,620
-1,954,620
| -50% | -$37.7M |
|
722
Hain Celestial
HAIN
$44.7M
| $40.4M | 0.02% |
789,410
-789,410
| -50% | -$36.7M |
|
723
SLM Corp
SLM
$4.86B
| $40.4M | 0.02% |
4,718,220
-1,572,808
| -25% | -$13.8M |
|
|
TSS
724
DELISTED
Total System Services, Inc.
TSS
| $40.4M | 0.02% |
1,303,290
-1,303,290
| -50% | -$41.2M |
|
725
Herbalife
HLF
$1.26B
| $40.2M | 0.02% |
1,836,666
-1,836,666
| -50% | -$49.1M |
|
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.