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 | |
|---|---|---|---|---|---|---|
|
TECD
1051
DELISTED
Tech Data Corp
TECD
| $22.9M | 0.01% |
388,429
-388,429
| -50% | -$25.1M |
|
|
SGI
1052
Somnigroup International
SGI
$13.7B
| $22.7M | 0.01% |
1,619,552
-2,458,256
| -60% | -$36M |
|
|
AKRX
1053
DELISTED
Akorn Inc
AKRX
| $22.7M | 0.01% |
626,738
-626,738
| -50% | -$22.5M |
|
|
EVHC
1054
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $22.7M | 0.01% |
218,780
-218,780
| -50% | -$23.2M |
|
|
NATI
1055
DELISTED
National Instruments Corp
NATI
| $22.7M | 0.01% |
734,198
-708,598
| -49% | -$22.9M |
|
|
BRS
1056
DELISTED
Bristow Group, Inc.
BRS
| $22.6M | 0.01% |
336,322
-233,094
| -41% | -$16.9M |
|
|
PNY
1057
DELISTED
PIEDMONT NATURAL GAS CO INC(NC
PNY
| $22.5M | 0.01% |
670,198
-670,198
| -50% | -$24M |
|
1058
Antero Resources
AR
$11.1B
| $22.5M | 0.01% |
409,270
+123,820
| +43% | +$7.19M |
|
1059
KBR
KBR
$4.64B
| $22.5M | 0.01% |
1,192,444
-1,192,444
| -50% | -$25.9M |
|
1060
Steven Madden
SHOO
$3.37B
| $22.4M | 0.01% |
1,044,576
-855,912
| -45% | -$19.2M |
|
1061
Teekay
TK
$1.01B
| $22.4M | 0.01% |
338,204
-495,080
| -59% | -$29.1M |
|
1062
Take-Two Interactive
TTWO
$45.4B
| $22.4M | 0.01% |
971,808
-971,808
| -50% | -$22M |
|
|
SEMG
1063
DELISTED
SEMGROUP CORPORATION
SEMG
| $22.4M | 0.01% |
268,846
-268,846
| -50% | -$22.1M |
|
1064
Vail Resorts
MTN
$5.32B
| $22.3M | 0.01% |
257,403
-328,951
| -56% | -$26.1M |
|
1065
IPG Photonics
IPGP
$3.61B
| $22.3M | 0.01% |
324,153
-324,153
| -50% | -$21.8M |
|
1066
Tyler Technologies
TYL
$12.7B
| $22.3M | 0.01% |
252,112
-310,214
| -55% | -$28M |
|
|
CAVM
1067
DELISTED
Cavium, Inc.
CAVM
| $22.3M | 0.01% |
447,677
-382,255
| -46% | -$19.4M |
|
1068
First Horizon
FHN
$12.2B
| $22.3M | 0.01% |
1,812,149
-2,319,139
| -56% | -$27.9M |
|
1069
Olin
OLN
$2.11B
| $22.2M | 0.01% |
878,966
-878,966
| -50% | -$23.4M |
|
|
ENH
1070
DELISTED
Endurance Specialty Holdings Ltd
ENH
| $22M | 0.01% |
398,801
-398,801
| -50% | -$22.1M |
|
1071
Silgan Holdings
SLGN
$4.23B
| $22M | 0.01% |
936,120
-936,120
| -50% | -$23.4M |
|
1072
TotalEnergies
TTE
$195B
| $22M | 0.01% |
341,100
-341,100
| -50% | -$22.6M |
|
1073
Emcor
EME
$35.2B
| $22M | 0.01% |
549,756
-571,756
| -51% | -$24.6M |
|
|
IOC
1074
DELISTED
Interoil Corporation
IOC
| $21.9M | 0.01% |
403,871
-436,545
| -52% | -$25.5M |
|
1075
Invesco Mortgage Capital
IVR
$759M
| $21.9M | 0.01% |
138,998
-138,998
| -50% | -$23.8M |
|
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.