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 | |
|---|---|---|---|---|---|---|
|
COV
126
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| $299M | 0.16% |
3,459,837
-3,459,837
| -50% | -$306M |
|
127
DuPont de Nemours
DD
$18.8B
| $299M | 0.16% |
2,249,334
-2,024,809
| -47% | -$270M |
|
|
YHOO
128
DELISTED
Yahoo Inc
YHOO
| $296M | 0.16% |
7,267,255
-8,950,611
| -55% | -$336M |
|
129
Williams Companies
WMB
$85.7B
| $294M | 0.16% |
5,318,319
-4,649,909
| -47% | -$267M |
|
130
Western Digital
WDC
$169B
| $294M | 0.16% |
3,994,255
-4,258,854
| -52% | -$320M |
|
131
Baxter International
BAX
$12.8B
| $288M | 0.16% |
7,392,801
-7,342,975
| -50% | -$298M |
|
132
Seagate
STX
$181B
| $288M | 0.16% |
5,029,383
-4,990,467
| -50% | -$296M |
|
133
PNC Financial Services
PNC
$99.6B
| $285M | 0.15% |
3,332,180
-3,117,942
| -48% | -$265M |
|
134
APA Corp
APA
$12.9B
| $281M | 0.15% |
2,996,733
-3,049,951
| -50% | -$302M |
|
135
Elevance Health
ELV
$82.4B
| $279M | 0.15% |
2,328,227
-2,354,235
| -50% | -$270M |
|
136
Automatic Data Processing
ADP
$110B
| $269M | 0.15% |
3,693,030
-3,749,062
| -50% | -$271M |
|
137
Archer Daniels Midland
ADM
$39.3B
| $268M | 0.15% |
5,249,392
-4,971,700
| -49% | -$244M |
|
138
Exelon
EXC
$48B
| $264M | 0.14% |
10,845,886
-10,135,554
| -48% | -$237M |
|
|
CMCSK
139
DELISTED
COMCAST CORP SPL A (NEW)
CMCSK
| $260M | 0.14% |
4,857,202
-4,857,202
| -50% | -$260M |
|
140
Johnson Controls International
JCI
$85.4B
| $258M | 0.14% |
5,591,659
-6,188,906
| -53% | -$312M |
|
141
Ecolab
ECL
$79.2B
| $254M | 0.14% |
2,213,638
-2,443,380
| -52% | -$275M |
|
|
TYC
142
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
| $248M | 0.13% |
5,306,406
-4,485,106
| -46% | -$209M |
|
143
General Motors
GM
$82.5B
| $247M | 0.13% |
7,733,235
-7,267,963
| -48% | -$253M |
|
|
HES
144
DELISTED
Hess
HES
| $246M | 0.13% |
2,608,361
-2,631,157
| -50% | -$260M |
|
|
KRFT
145
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
| $245M | 0.13% |
4,339,158
-4,313,560
| -50% | -$249M |
|
146
Morgan Stanley
MS
$325B
| $244M | 0.13% |
7,051,499
-5,424,699
| -43% | -$181M |
|
147
Intercontinental Exchange
ICE
$87.7B
| $243M | 0.13% |
6,237,350
-6,788,250
| -52% | -$260M |
|
148
Regeneron Pharmaceuticals
REGN
$73.1B
| $242M | 0.13% |
672,423
-622,423
| -48% | -$209M |
|
149
TC Energy
TRP
$70.1B
| $242M | 0.13% |
4,690,001
-4,312,845
| -48% | -$223M |
|
150
Norfolk Southern
NSC
$75.6B
| $241M | 0.13% |
2,161,494
-1,677,494
| -44% | -$178M |
|
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.