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 | |
|---|---|---|---|---|---|---|
976
Fortinet
FTNT
$119B
| $26M | 0.01% |
5,142,595
-5,142,595
| -50% | -$26M |
|
977
Deluxe
DLX
$1.18B
| $25.9M | 0.01% |
470,435
-463,635
| -50% | -$26.7M |
|
978
CAE Inc. Common Shares
CAE
$8.3B
| $25.9M | 0.01% |
2,135,440
-2,594,114
| -55% | -$32.7M |
|
|
MFA
979
MFA Financial
MFA
$926M
| $25.9M | 0.01% |
833,718
-833,719
| -50% | -$27.5M |
|
|
CAB
980
DELISTED
Cabela's Inc
CAB
| $25.9M | 0.01% |
440,384
-440,384
| -50% | -$26.3M |
|
|
CNW
981
DELISTED
CON-WAY INC.
CNW
| $25.9M | 0.01% |
546,043
-446,043
| -45% | -$22.5M |
|
982
Avient
AVNT
$3.33B
| $25.8M | 0.01% |
725,866
-725,866
| -50% | -$28.5M |
|
983
Prosperity Bancshares
PB
$8.97B
| $25.8M | 0.01% |
451,444
-451,444
| -50% | -$27M |
|
984
United Natural Foods
UNFI
$3.08B
| $25.8M | 0.01% |
419,393
-419,393
| -50% | -$26.3M |
|
985
Manitowoc
MTW
$497M
| $25.8M | 0.01% |
1,213,091
-1,241,800
| -51% | -$32.4M |
|
986
Kennametal
KMT
$2.59B
| $25.8M | 0.01% |
623,336
-733,390
| -54% | -$32.2M |
|
987
Compass Minerals
CMP
$1.23B
| $25.7M | 0.01% |
305,139
-273,833
| -47% | -$24.6M |
|
|
CST
988
DELISTED
CST Brands, Inc.
CST
| $25.6M | 0.01% |
713,427
-763,427
| -52% | -$26.4M |
|
|
DO
989
DELISTED
Diamond Offshore Drilling
DO
| $25.6M | 0.01% |
746,459
-660,855
| -47% | -$29.2M |
|
|
SAFM
990
DELISTED
Sanderson Farms Inc
SAFM
| $25.6M | 0.01% |
290,607
-267,047
| -48% | -$25.2M |
|
|
ALR
991
DELISTED
Alere Inc
ALR
| $25.5M | 0.01% |
658,421
-658,421
| -50% | -$24.7M |
|
|
HAWK
992
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
| $25.5M | 0.01% |
789,271
-1,198,065
| -60% | -$33.8M |
|
|
VRNT
993
DELISTED
Verint Systems
VRNT
| $25.5M | 0.01% |
899,313
-899,313
| -50% | -$23M |
|
994
White Mountains Insurance
WTM
$5.2B
| $25.5M | 0.01% |
40,419
-60,419
| -60% | -$37.7M |
|
995
Unum
UNM
$13.6B
| $25.4M | 0.01% |
739,953
-650,255
| -47% | -$22.9M |
|
|
UMPQ
996
DELISTED
Umpqua Holdings Corp
UMPQ
| $25.4M | 0.01% |
1,544,428
-1,544,428
| -50% | -$26.5M |
|
|
CBL
997
DELISTED
CBL& Associates Properties, Inc.
CBL
| $25.3M | 0.01% |
1,415,419
-1,415,419
| -50% | -$26.7M |
|
998
Abercrombie & Fitch
ANF
$4.42B
| $25.3M | 0.01% |
697,118
-697,118
| -50% | -$28.4M |
|
|
SFG
999
DELISTED
STANCORP FINL GRP
SFG
| $25.2M | 0.01% |
399,552
-366,396
| -48% | -$23.2M |
|
1000
John Wiley & Sons Class A
WLY
$2.65B
| $25.2M | 0.01% |
448,297
-448,297
| -50% | -$26.7M |
|
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.