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 | |
|---|---|---|---|---|---|---|
|
BIG
951
DELISTED
Big Lots, Inc.
BIG
| $27.1M | 0.01% |
629,971
-564,159
| -47% | -$25.7M |
|
|
AXE
952
DELISTED
Anixter International Inc
AXE
| $27.1M | 0.01% |
319,078
-319,078
| -50% | -$29M |
|
953
Outfront Media
OUT
$5.61B
| $27M | 0.01% |
+1,203,810
| New | +$29.5M |
|
954
RLJ Lodging Trust
RLJ
$1.86B
| $26.9M | 0.01% |
943,977
-921,977
| -49% | -$26.9M |
|
|
CNL
955
DELISTED
CLECO CRP (HOLDING CO)
CNL
| $26.8M | 0.01% |
555,944
-512,664
| -48% | -$28.4M |
|
|
RPAI
956
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $26.8M | 0.01% |
1,829,320
-932,334
| -34% | -$14.4M |
|
|
HME
957
DELISTED
HOME PROPERTIES, INC
HME
| $26.7M | 0.01% |
458,665
-396,233
| -46% | -$25M |
|
958
Santander
BSBR
$42.5B
| $26.7M | 0.01% |
4,259,858
-4,259,859
| -50% | -$27.8M |
|
|
PDS
959
Precision Drilling
PDS
$999M
| $26.6M | 0.01% |
122,963
-122,963
| -50% | -$30.6M |
|
|
WOOF
960
DELISTED
VCA Inc.
WOOF
| $26.6M | 0.01% |
675,405
-828,497
| -55% | -$32M |
|
|
SNV
961
DELISTED
Synovus
SNV
| $26.5M | 0.01% |
1,122,359
-1,122,359
| -50% | -$26.9M |
|
962
Curtiss-Wright
CW
$26.7B
| $26.5M | 0.01% |
401,331
-468,439
| -54% | -$31.5M |
|
|
CYN
963
DELISTED
CITY NATIONAL CORPORATION
CYN
| $26.4M | 0.01% |
348,997
-400,183
| -53% | -$30.2M |
|
964
West Pharmaceutical
WST
$24B
| $26.3M | 0.01% |
587,392
-374,080
| -39% | -$15.9M |
|
965
Jack in the Box
JACK
$312M
| $26.2M | 0.01% |
384,696
-384,696
| -50% | -$23.2M |
|
966
Alaska Air
ALK
$5.29B
| $26.2M | 0.01% |
601,860
-601,860
| -50% | -$27.9M |
|
967
TransAlta
TAC
$3.95B
| $26.2M | 0.01% |
2,491,012
-2,241,358
| -47% | -$25.6M |
|
|
ARRS
968
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $26.2M | 0.01% |
923,482
-923,482
| -50% | -$28.9M |
|
|
IM
969
DELISTED
Ingram Micro
IM
| $26.2M | 0.01% |
1,013,340
-1,129,540
| -53% | -$32.1M |
|
|
PAY
970
DELISTED
Verifone Systems Inc
PAY
| $26.1M | 0.01% |
760,434
-760,434
| -50% | -$26.8M |
|
|
ESL
971
DELISTED
Esterline Technologies
ESL
| $26.1M | 0.01% |
234,748
-259,226
| -52% | -$29.5M |
|
972
Wendy's
WEN
$1.4B
| $26.1M | 0.01% |
3,161,499
-3,161,499
| -50% | -$25.9M |
|
973
Valmont Industries
VMI
$9.3B
| $26.1M | 0.01% |
193,469
-145,113
| -43% | -$20.8M |
|
|
JNS
974
DELISTED
Janus Capital Group Inc
JNS
| $26M | 0.01% |
1,790,487
-1,419,729
| -44% | -$17.2M |
|
975
Tanger
SKT
$4.67B
| $26M | 0.01% |
795,313
-737,425
| -48% | -$25.5M |
|
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.