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 | |
|---|---|---|---|---|---|---|
1301
HNI Corp
HNI
$3.24B
| $15.7M | 0.01% |
437,532
-425,508
| -49% | -$16M |
|
1302
FNB Corp
FNB
$6.73B
| $15.7M | 0.01% |
1,312,731
-1,312,731
| -50% | -$16.3M |
|
1303
RH
RH
$3.13B
| $15.7M | 0.01% |
197,088
-197,088
| -50% | -$16.5M |
|
|
TRLA
1304
DELISTED
TRULIA INC (DEL)
TRLA
| $15.7M | 0.01% |
320,264
-297,002
| -48% | -$15.9M |
|
1305
CVR Energy
CVI
$3.58B
| $15.6M | 0.01% |
349,839
-158,965
| -31% | -$7.65M |
|
1306
Amkor Technology
AMKR
$12.4B
| $15.6M | 0.01% |
1,857,351
-961,651
| -34% | -$9.5M |
|
|
PMT
1307
PennyMac Mortgage Investment
PMT
$822M
| $15.6M | 0.01% |
728,918
-728,918
| -50% | -$15.9M |
|
1308
Capitol Federal Financial
CFFN
$1.09B
| $15.6M | 0.01% |
1,321,094
-1,321,094
| -50% | -$15.9M |
|
1309
Valley National Bancorp
VLY
$7.9B
| $15.6M | 0.01% |
1,611,475
-1,611,475
| -50% | -$15.9M |
|
|
SFLY
1310
DELISTED
Shutterfly, Inc.
SFLY
| $15.6M | 0.01% |
320,060
-259,776
| -45% | -$12.7M |
|
|
MDP
1311
DELISTED
Meredith Corporation
MDP
| $15.6M | 0.01% |
364,406
-337,832
| -48% | -$15.7M |
|
|
SAPE
1312
DELISTED
SAPIENT CORP
SAPE
| $15.5M | 0.01% |
1,110,354
-811,472
| -42% | -$12M |
|
|
OUTR
1313
DELISTED
OUTERWALL INC
OUTR
| $15.5M | 0.01% |
277,045
-277,045
| -50% | -$16.1M |
|
|
SOHU
1314
Sohu.com
SOHU
$362M
| $15.5M | 0.01% |
308,012
-237,240
| -44% | -$13.4M |
|
|
VISN
1315
Vistance Networks Inc
VISN
$2.65B
| $15.5M | 0.01% |
+646,396
| New | +$15.8M |
|
1316
Insulet
PODD
$11.5B
| $15.4M | 0.01% |
418,818
-418,818
| -50% | -$15.3M |
|
1317
Zions Bancorporation
ZION
$10.2B
| $15.4M | 0.01% |
530,413
-90,413
| -15% | -$2.62M |
|
|
ATHL
1318
DELISTED
ATHLON ENERGY INC COM
ATHL
| $15.4M | 0.01% |
+264,169
| New | +$12.2M |
|
|
MLNX
1319
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $15.4M | 0.01% |
342,620
-437,674
| -56% | -$17.8M |
|
1320
MKS Inc
MKSI
$20.1B
| $15.4M | 0.01% |
459,973
-560,595
| -55% | -$18.4M |
|
|
SYNT
1321
DELISTED
Syntel Inc
SYNT
| $15.3M | 0.01% |
348,786
-348,786
| -50% | -$15.4M |
|
1322
RLI Corp
RLI
$5.62B
| $15.3M | 0.01% |
708,344
-708,344
| -50% | -$15.8M |
|
|
CB
1323
DELISTED
CHUBB CORPORATION
CB
| $15.3M | 0.01% |
168,148
-84,874
| -34% | -$7.73M |
|
1324
ACI Worldwide
ACIW
$5.83B
| $15.3M | 0.01% |
816,188
-1,313,242
| -62% | -$24.6M |
|
|
CZZ
1325
DELISTED
Cosan Limited
CZZ
| $15.3M | 0.01% |
1,422,666
-3,016,420
| -68% | -$37.9M |
|
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.