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 | |
|---|---|---|---|---|---|---|
751
Cullen/Frost Bankers
CFR
$10.5B
| $38M | 0.02% |
496,517
-496,517
| -50% | -$39M |
|
|
FLIR
752
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $37.6M | 0.02% |
1,200,546
-1,200,546
| -50% | -$40.3M |
|
753
ResMed
RMD
$30.4B
| $37.6M | 0.02% |
762,862
-671,518
| -47% | -$34.2M |
|
|
WIN
754
DELISTED
Windstream Holdings Inc
WIN
| $37.5M | 0.02% |
444,673
+372,042
| +512% | +$31.9M |
|
755
Carter's
CRI
$1.41B
| $37.5M | 0.02% |
483,875
-483,875
| -50% | -$37.4M |
|
756
Huntington Bancshares
HBAN
$34.4B
| $37.5M | 0.02% |
3,853,282
-3,853,282
| -50% | -$37.7M |
|
757
Puma Biotechnology
PBYI
$398M
| $37.5M | 0.02% |
157,081
-141,343
| -47% | -$29M |
|
|
EV
758
DELISTED
Eaton Vance Corp.
EV
| $37.4M | 0.02% |
991,661
-991,661
| -50% | -$37.2M |
|
759
Cboe Global Markets
CBOE
$31.7B
| $37.4M | 0.02% |
697,851
-697,851
| -50% | -$35.7M |
|
760
SPX Corp
SPXC
$11.4B
| $37.3M | 0.02% |
1,578,901
-1,578,902
| -50% | -$41M |
|
761
Enovis
ENOV
$1.67B
| $37.3M | 0.02% |
380,730
-352,980
| -48% | -$39.7M |
|
762
Atmos Energy
ATO
$29.1B
| $37.3M | 0.02% |
782,405
-710,029
| -48% | -$35.4M |
|
763
Jabil
JBL
$32.8B
| $37.2M | 0.02% |
1,845,295
-2,030,137
| -52% | -$42.4M |
|
|
JOY
764
DELISTED
Joy Global Inc
JOY
| $37.1M | 0.02% |
681,101
-548,339
| -45% | -$33.3M |
|
765
Old Republic International
ORI
$10.5B
| $37.1M | 0.02% |
2,596,003
-2,184,075
| -46% | -$33.4M |
|
|
PNRA
766
DELISTED
Panera Bread Co
PNRA
| $37M | 0.02% |
227,501
-227,501
| -50% | -$34.3M |
|
767
Voya Financial
VOYA
$9B
| $37M | 0.02% |
945,861
-945,861
| -50% | -$35.9M |
|
|
SPLK
768
DELISTED
Splunk Inc
SPLK
| $36.9M | 0.02% |
665,909
-665,909
| -50% | -$33.1M |
|
|
TCO
769
DELISTED
Taubman Centers Inc.
TCO
| $36.7M | 0.02% |
502,734
-476,470
| -49% | -$35.8M |
|
|
SCG
770
DELISTED
Scana
SCG
| $36.7M | 0.02% |
738,891
-529,245
| -42% | -$27.1M |
|
|
CVD
771
DELISTED
COVANCE INC.
CVD
| $36.6M | 0.02% |
465,371
-441,533
| -49% | -$37.5M |
|
772
Urban Outfitters
URBN
$6.4B
| $36.6M | 0.02% |
996,396
-577,544
| -37% | -$21.2M |
|
773
Liberty Media Series A
FWONA
$22.4B
| $36.5M | 0.02% |
1,518,262
-7,640,601
| -83% | -$188M |
|
|
AIV
774
Aimco
AIV
$384M
| $36.3M | 0.02% |
8,573,326
-8,573,326
| -50% | -$38.2M |
|
|
STRZA
775
DELISTED
Starz - Series A
STRZA
| $36.2M | 0.02% |
1,092,990
-989,112
| -48% | -$29.6M |
|
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.