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 | |
|---|---|---|---|---|---|---|
1451
J&J Snack Foods
JJSF
$1.43B
| $12.5M | 0.01% |
133,609
-133,609
| -50% | -$12.6M |
|
1452
MGE Energy Inc
MGEE
$3B
| $12.5M | 0.01% |
335,469
-335,469
| -50% | -$13.1M |
|
1453
Kinross Gold
KGC
$27.4B
| $12.5M | 0.01% |
3,771,741
-3,771,741
| -50% | -$14.8M |
|
|
RYL
1454
DELISTED
RYLAND GROUP INC
RYL
| $12.5M | 0.01% |
375,012
-375,012
| -50% | -$13.6M |
|
1455
Heartland Express
HTLD
$948M
| $12.4M | 0.01% |
518,849
-641,153
| -55% | -$14.8M |
|
1456
MBIA
MBI
$261M
| $12.4M | 0.01% |
1,353,290
-1,566,894
| -54% | -$15.4M |
|
|
PHH
1457
DELISTED
PHH Corporation
PHH
| $12.4M | 0.01% |
553,109
-553,109
| -50% | -$13.1M |
|
|
SWC
1458
DELISTED
Stillwater Mining Co
SWC
| $12.4M | 0.01% |
821,870
-821,870
| -50% | -$14.8M |
|
1459
Forum Energy Technologies
FET
$708M
| $12.3M | 0.01% |
20,159
-20,160
| -50% | -$13.6M |
|
1460
Plexus
PLXS
$6.72B
| $12.3M | 0.01% |
333,584
-321,718
| -49% | -$13M |
|
1461
Acadia Healthcare
ACHC
$2.76B
| $12.3M | 0.01% |
253,905
-253,905
| -50% | -$12.4M |
|
1462
Adtran
ADTN
$689M
| $12.3M | 0.01% |
599,583
-599,583
| -50% | -$13.4M |
|
|
EDE
1463
DELISTED
Empire District Electric
EDE
| $12.3M | 0.01% |
509,429
-409,429
| -45% | -$10.3M |
|
1464
Sinclair Inc
SBGI
$992M
| $12.3M | 0.01% |
470,900
-470,900
| -50% | -$14.4M |
|
1465
Neogen
NEOG
$2.63B
| $12.3M | 0.01% |
828,099
-828,098
| -50% | -$13.1M |
|
|
RWT
1466
Redwood Trust
RWT
$574M
| $12.3M | 0.01% |
739,233
-739,233
| -50% | -$14M |
|
|
LTC
1467
LTC Properties
LTC
$2.06B
| $12.3M | 0.01% |
332,231
-332,231
| -50% | -$13.1M |
|
|
CATM
1468
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
| $12.3M | 0.01% |
348,206
-307,606
| -47% | -$11M |
|
1469
Virtus Investment Partners
VRTS
$1.06B
| $12.3M | 0.01% |
70,555
-70,555
| -50% | -$14.3M |
|
1470
International Bancshares
IBOC
$4.76B
| $12.2M | 0.01% |
496,613
-496,613
| -50% | -$12.9M |
|
1471
Brink's
BCO
$4.88B
| $12.2M | 0.01% |
508,229
-407,807
| -45% | -$10.9M |
|
|
KW
1472
DELISTED
Kennedy-Wilson Holdings
KW
| $12.2M | 0.01% |
508,394
-279,406
| -35% | -$7.05M |
|
1473
Ciena
CIEN
$53.4B
| $12.1M | 0.01% |
724,421
-724,421
| -50% | -$14.2M |
|
1474
Insight Enterprises
NSIT
$3.89B
| $12.1M | 0.01% |
534,031
-534,031
| -50% | -$14.2M |
|
|
TAL
1475
DELISTED
TAL INTERNATIONAL GROUP, INC.
TAL
| $12.1M | 0.01% |
292,774
-282,228
| -49% | -$12.5M |
|
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.