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 | |
|---|---|---|---|---|---|---|
1001
DigitalBridge
DBRG
$2.93B
| $25.1M | 0.01% |
+340,500
| New | +$25.6M |
|
|
CVSA
1002
Covista Inc
CVSA
$4.25B
| $25.1M | 0.01% |
585,710
-585,710
| -50% | -$24.9M |
|
|
ROSE
1003
DELISTED
ROSETTA RESOURCES INC
ROSE
| $25.1M | 0.01% |
562,298
-518,678
| -48% | -$25.8M |
|
|
CNVR
1004
DELISTED
CONVERSANT INC COM STK (DE)
CNVR
| $25M | 0.01% |
730,933
-730,933
| -50% | -$19.9M |
|
1005
Casey's General Stores
CASY
$32.2B
| $24.9M | 0.01% |
347,621
-347,621
| -50% | -$24.1M |
|
|
FMER
1006
DELISTED
FIRSTMERIT CORP
FMER
| $24.8M | 0.01% |
1,410,492
-1,410,492
| -50% | -$25.4M |
|
1007
Genpact
G
$5.96B
| $24.8M | 0.01% |
1,520,720
-1,383,622
| -48% | -$24.2M |
|
1008
Popular Inc
BPOP
$11.2B
| $24.8M | 0.01% |
841,738
-841,738
| -50% | -$26.9M |
|
|
UFS
1009
DELISTED
DOMTAR CORPORATION (New)
UFS
| $24.8M | 0.01% |
704,828
-704,828
| -50% | -$26.9M |
|
1010
Hanover Insurance
THG
$8.1B
| $24.7M | 0.01% |
402,858
-402,858
| -50% | -$25M |
|
1011
Federated Hermes
FHI
$4.55B
| $24.7M | 0.01% |
840,292
-740,126
| -47% | -$22.2M |
|
1012
Regal Rexnord
RRX
$13.7B
| $24.7M | 0.01% |
383,791
-383,791
| -50% | -$27.6M |
|
|
DYN
1013
DELISTED
Dynegy, Inc.
DYN
| $24.6M | 0.01% |
853,655
-303,269
| -26% | -$9.01M |
|
1014
U-Haul Holding Co
UHAL
$13.9B
| $24.5M | 0.01% |
937,150
-937,150
| -50% | -$25.9M |
|
1015
LPL Financial
LPLA
$28.3B
| $24.5M | 0.01% |
532,275
-532,275
| -50% | -$25.6M |
|
1016
Douglas Emmett
DEI
$1.98B
| $24.4M | 0.01% |
951,140
-880,168
| -48% | -$24.8M |
|
|
SF
1017
Stifel
SF
$12.6B
| $24.4M | 0.01% |
1,169,638
-1,169,638
| -50% | -$24.4M |
|
1018
Woodward
WWD
$21.5B
| $24.3M | 0.01% |
510,266
-644,924
| -56% | -$32.6M |
|
1019
Hancock Whitney
HWC
$6.2B
| $24.3M | 0.01% |
757,230
-757,230
| -50% | -$25.3M |
|
1020
Primerica
PRI
$9.98B
| $24.2M | 0.01% |
501,699
-501,699
| -50% | -$24.2M |
|
|
PDM
1021
Piedmont Realty Trust
PDM
$1.21B
| $24.2M | 0.01% |
1,370,804
-1,370,804
| -50% | -$26.3M |
|
|
N
1022
DELISTED
Netsuite Inc
N
| $24.1M | 0.01% |
268,599
-268,599
| -50% | -$22.8M |
|
1023
Associated Banc-Corp
ASB
$5.83B
| $23.9M | 0.01% |
1,373,642
-1,373,642
| -50% | -$24.8M |
|
|
POLY
1024
DELISTED
Plantronics, Inc.
POLY
| $23.9M | 0.01% |
500,013
-289,929
| -37% | -$13.9M |
|
1025
Manhattan Associates
MANH
$11.2B
| $23.9M | 0.01% |
714,740
-714,740
| -50% | -$22.4M |
|
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.