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 |
Apple
AAPL
|
+$3.65B |
| 2 |
Blackrock
BLK
|
+$3.58B |
| 3 |
ExxonMobil
XOM
|
+$3.23B |
| 4 |
Microsoft
MSFT
|
+$2.54B |
| 5 |
Johnson & Johnson
JNJ
|
+$2.09B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WFT
Weatherford International plc
WFT
|
+$118M |
| 2 |
Credicorp
BAP
|
+$98.3M |
| 3 |
BEAM
BEAM INC COM STK (DE)
BEAM
|
+$82.2M |
| 4 |
Aon
AON
|
+$63.8M |
| 5 |
LSI
LSI CORPORATION
LSI
|
+$47.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.06% |
| 2 | Technology | 13.25% |
| 3 | Healthcare | 12.14% |
| 4 | Energy | 10.19% |
| 5 | Industrials | 9.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PRA
1076
DELISTED
ProAssurance
PRA
| $46.5M | 0.01% |
1,046,346
+523,173
| +100% | +$23.4M |
|
|
NPSP
1077
DELISTED
NPS PHARMACEUTICALS INC
NPSP
| $46.3M | 0.01% |
1,401,436
+1,275,797
| +1,015% | +$36.9M |
|
1078
CNA Financial
CNA
$14.2B
| $46.3M | 0.01% |
1,145,296
+743,118
| +185% | +$30.5M |
|
1079
Cleveland-Cliffs
CLF
$6.57B
| $46.2M | 0.01% |
3,070,582
+1,769,606
| +136% | +$30M |
|
|
DBD
1080
DELISTED
Diebold Nixdorf Incorporated
DBD
| $46.2M | 0.01% |
1,148,976
+574,488
| +100% | +$22M |
|
1081
Advanced Micro Devices
AMD
$776B
| $46.1M | 0.01% |
11,006,162
+4,398,752
| +67% | +$17.8M |
|
1082
Jack in the Box
JACK
$312M
| $46M | 0.01% |
769,392
+384,696
| +100% | +$22.1M |
|
|
BRS
1083
DELISTED
Bristow Group, Inc.
BRS
| $45.9M | 0.01% |
569,416
+234,708
| +70% | +$17.8M |
|
|
AXLL
1084
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| $45.9M | 0.01% |
971,224
+485,612
| +100% | +$22.5M |
|
1085
Vail Resorts
MTN
$5.32B
| $45.3M | 0.01% |
586,354
+293,177
| +100% | +$20.6M |
|
|
MENT
1086
DELISTED
Mentor Graphics Corp
MENT
| $45.1M | 0.01% |
2,091,406
+1,060,703
| +103% | +$22.3M |
|
1087
Worthington Enterprises
WOR
$2.75B
| $45.1M | 0.01% |
1,699,113
+849,556
| +100% | +$20.6M |
|
|
ACH
1088
Accendra Health
ACH
$237M
| $45.1M | 0.01% |
1,326,190
+812,055
| +158% | +$27.8M |
|
1089
Enerpac Tool Group
EPAC
$1.83B
| $45M | 0.01% |
1,302,810
+651,405
| +100% | +$22.6M |
|
1090
Murphy USA
MUSA
$11.2B
| $45M | 0.01% |
920,304
+510,152
| +124% | +$23.6M |
|
|
VRNT
1091
DELISTED
Verint Systems
VRNT
| $44.9M | 0.01% |
1,798,626
+592,645
| +49% | +$13.9M |
|
1092
Ziff Davis
ZD
$1.96B
| $44.8M | 0.01% |
1,012,524
+521,787
| +106% | +$21.8M |
|
1093
Pool Corp
POOL
$6.75B
| $44.7M | 0.01% |
791,112
+372,957
| +89% | +$21.8M |
|
1094
Black Hills Corp
BKH
$5.42B
| $44.7M | 0.01% |
728,388
+321,716
| +79% | +$18.7M |
|
1095
IPG Photonics
IPGP
$3.61B
| $44.6M | 0.01% |
648,306
+324,153
| +100% | +$21.8M |
|
1096
Pricesmart
PSMT
$5.98B
| $44.6M | 0.01% |
511,898
+255,949
| +100% | +$23.7M |
|
1097
American Eagle Outfitters
AEO
$2.88B
| $44.5M | 0.01% |
3,969,676
+1,584,838
| +66% | +$18M |
|
|
RDS.A
1098
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $44.5M | 0.01% |
540,456
+273,409
| +102% | +$21.4M |
|
1099
RPC Inc
RES
$1.24B
| $44.4M | 0.01% |
1,888,198
+944,099
| +100% | +$20.7M |
|
1100
ServiceNow
NOW
$115B
| $44.3M | 0.01% |
3,576,690
+3,409,470
| +2,039% | +$36.4M |
|
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Norges Bank's Q2 2014 Portfolio in Review
As of Q2 2014, Norges Bank held 2,273 positions worth $371B, up 109% from $177B the previous quarter. Its ten largest holdings account for 14% of the portfolio.
Norges Bank deployed $180B of net new capital in Q2 2014, opening 161 new positions and adding to 2,055 existing holdings. Its largest new stake was IMS HEALTH HLDGS INC COM STK (DE): 6,500,000 shares worth $167M.
By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Weatherford International plc, an estimated $118M trimmed.
- Norges Bank's largest Q2 2014 buy was IMS HEALTH HLDGS INC COM STK (DE): 6,500,000 shares worth $167M.
- Norges Bank added most to Apple in Q2 2014, an estimated $3.65B increase.
- Norges Bank's biggest Q2 2014 reduction was Weatherford International plc, cutting an estimated $118M.
- Norges Bank fully exited Credicorp in Q2 2014, selling an estimated $98.3M.
- Norges Bank's ten largest holdings make up 14% of its $371B portfolio in Q2 2014.
- Norges Bank opened 161 new positions and closed 23 in Q2 2014.
- Norges Bank's portfolio value rose 109% quarter-over-quarter to $371B.
Based on Norges Bank's 13F filing for Q2 2014, filed 8 Aug 2014.