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 | |
|---|---|---|---|---|---|---|
1351
Celestica
CLS
$38.1B
| $14.6M | 0.01% |
1,439,306
-1,745,906
| -55% | -$19.4M |
|
|
BCPC
1352
Balchem Corp
BCPC
$5.38B
| $14.6M | 0.01% |
258,093
-223,515
| -46% | -$11.9M |
|
|
DS
1353
DELISTED
Drive Shack Inc.
DS
| $14.6M | 0.01% |
3,205,960
-3,205,963
| -50% | -$15.6M |
|
1354
Benchmark Electronics
BHE
$2.87B
| $14.6M | 0.01% |
655,975
-655,975
| -50% | -$15.9M |
|
|
AFSI
1355
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $14.6M | 0.01% |
731,320
-731,320
| -50% | -$15.5M |
|
|
MASI
1356
DELISTED
Masimo
MASI
| $14.5M | 0.01% |
682,048
-565,116
| -45% | -$12.9M |
|
|
SWFT
1357
DELISTED
Swift Transportation Company
SWFT
| $14.5M | 0.01% |
691,196
-691,196
| -50% | -$15.2M |
|
1358
Allison Transmission
ALSN
$9.5B
| $14.4M | 0.01% |
506,596
-179,264
| -26% | -$5.44M |
|
|
HEES
1359
DELISTED
H&E Equipment Services
HEES
| $14.4M | 0.01% |
357,435
-368,325
| -51% | -$14.3M |
|
|
TIVO
1360
DELISTED
TIVO INC
TIVO
| $14.4M | 0.01% |
1,124,910
-1,124,910
| -50% | -$15.1M |
|
1361
First Industrial Realty Trust
FR
$8.73B
| $14.4M | 0.01% |
851,023
-851,023
| -50% | -$15.5M |
|
1362
Copa Holdings
CPA
$5.76B
| $14.3M | 0.01% |
133,713
-133,713
| -50% | -$17.8M |
|
|
FNSR
1363
DELISTED
Finisar Corp
FNSR
| $14.3M | 0.01% |
862,624
-862,624
| -50% | -$16.7M |
|
1364
Kemper
KMPR
$1.67B
| $14.3M | 0.01% |
419,494
-419,494
| -50% | -$15M |
|
|
CCMP
1365
DELISTED
CMC Materials, Inc. Common Stock
CCMP
| $14.3M | 0.01% |
345,416
-130,088
| -27% | -$5.55M |
|
1366
Nektar Therapeutics
NKTR
$2.39B
| $14.3M | 0.01% |
78,972
-46,107
| -37% | -$8.82M |
|
|
SC
1367
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $14.3M | 0.01% |
+801,645
| New | +$15.1M |
|
1368
Monolithic Power Systems
MPWR
$70.1B
| $14.2M | 0.01% |
322,680
-322,680
| -50% | -$14.2M |
|
1369
Morningstar
MORN
$7.22B
| $14.2M | 0.01% |
209,313
-209,313
| -50% | -$14.3M |
|
1370
Upbound Group
UPBD
$1.13B
| $14.2M | 0.01% |
466,540
-574,942
| -55% | -$15.5M |
|
1371
Dine Brands
DIN
$456M
| $14.1M | 0.01% |
173,235
-173,235
| -50% | -$14.1M |
|
1372
NETGEAR
NTGR
$648M
| $14.1M | 0.01% |
452,193
-452,193
| -50% | -$15M |
|
1373
The Mosaic Company
MOS
$7.03B
| $14.1M | 0.01% |
317,233
-49,893
| -14% | -$2.35M |
|
1374
HUB Group
HUBG
$2.85B
| $14.1M | 0.01% |
695,052
-695,052
| -50% | -$15.8M |
|
1375
WaFd
WAFD
$2.72B
| $14.1M | 0.01% |
691,637
-742,363
| -52% | -$15.9M |
|
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.