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 | |
|---|---|---|---|---|---|---|
|
DATA
1026
DELISTED
Tableau Software, Inc.
DATA
| $23.9M | 0.01% |
328,692
-230,684
| -41% | -$15.1M |
|
|
CLC
1027
DELISTED
Clarcor
CLC
| $23.8M | 0.01% |
378,027
-487,581
| -56% | -$30.2M |
|
1028
Idacorp
IDA
$7.92B
| $23.8M | 0.01% |
444,329
-444,329
| -50% | -$24.5M |
|
1029
CNA Financial
CNA
$14.2B
| $23.8M | 0.01% |
625,267
-520,029
| -45% | -$20.1M |
|
1030
Dana Inc
DAN
$2.9B
| $23.8M | 0.01% |
1,240,248
-1,240,248
| -50% | -$28.1M |
|
1031
Ryman Hospitality Properties
RHP
$8.43B
| $23.8M | 0.01% |
502,604
-552,604
| -52% | -$26.8M |
|
1032
ScottsMiracle-Gro
SMG
$3.82B
| $23.7M | 0.01% |
431,740
-431,740
| -50% | -$24.3M |
|
|
MENT
1033
DELISTED
Mentor Graphics Corp
MENT
| $23.7M | 0.01% |
1,158,161
-933,245
| -45% | -$19.9M |
|
|
KS
1034
DELISTED
KapStone Paper and Pack Corp.
KS
| $23.7M | 0.01% |
847,484
-615,020
| -42% | -$18.7M |
|
|
RDC
1035
DELISTED
Rowan Companies Plc
RDC
| $23.5M | 0.01% |
929,104
-929,104
| -50% | -$27.4M |
|
|
TQNT
1036
DELISTED
TRIQUINT SEMICONDUCTOR INC
TQNT
| $23.5M | 0.01% |
1,232,882
-1,276,692
| -51% | -$23.7M |
|
|
MRC
1037
DELISTED
MRC Global
MRC
| $23.5M | 0.01% |
1,007,007
-1,007,007
| -50% | -$25.9M |
|
1038
Moog Inc Class A
MOG.A
$12.4B
| $23.4M | 0.01% |
342,238
-342,238
| -50% | -$23.8M |
|
|
PGH
1039
DELISTED
Pengrowth Energy Corporation
PGH
| $23.4M | 0.01% |
4,455,770
-4,402,008
| -50% | -$27.4M |
|
|
KATE
1040
DELISTED
Kate Spade & Company
KATE
| $23.4M | 0.01% |
890,330
-983,014
| -52% | -$33.7M |
|
|
NRF
1041
DELISTED
NorthStar Realty Finance Corp.
NRF
| $23.3M | 0.01% |
+659,285
| New | +$23.1M |
|
1042
PRA Group
PRAA
$663M
| $23.3M | 0.01% |
445,761
-409,371
| -48% | -$23.6M |
|
|
RVBD
1043
DELISTED
RIVERBED TECHNOLOGY, INC COM
RVBD
| $23.2M | 0.01% |
1,250,238
-1,150,238
| -48% | -$21.6M |
|
1044
Carpenter Technology
CRS
$25.8B
| $23.2M | 0.01% |
513,357
-513,357
| -50% | -$28.3M |
|
|
FWLT
1045
DELISTED
FOSTER WHEELER AG (SWITZERLAND)
FWLT
| $23.1M | 0.01% |
731,678
-798,478
| -52% | -$26.1M |
|
|
AZPN
1046
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $23.1M | 0.01% |
613,239
-560,133
| -48% | -$21.1M |
|
|
THS
1047
DELISTED
Treehouse Foods
THS
| $23.1M | 0.01% |
287,142
-360,086
| -56% | -$28.4M |
|
|
PRA
1048
DELISTED
ProAssurance
PRA
| $23.1M | 0.01% |
523,173
-523,173
| -50% | -$23.6M |
|
1049
Synaptics
SYNA
$4.19B
| $23M | 0.01% |
314,839
-314,839
| -50% | -$25.7M |
|
|
BEE
1050
DELISTED
STRATEGIC HOTELS & RESORTS, INC
BEE
| $22.9M | 0.01% |
1,964,465
-1,771,347
| -47% | -$20.9M |
|
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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.