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 | |
|---|---|---|---|---|---|---|
|
RPT
1651
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
| $9.05M | ﹤0.01% |
557,152
-557,152
| -50% | -$9.34M |
|
1652
Stepan Co
SCL
$1.46B
| $9.04M | ﹤0.01% |
203,797
-165,589
| -45% | -$8.11M |
|
|
GOV
1653
DELISTED
Government Properties Income Trust
GOV
| $9M | ﹤0.01% |
410,590
-410,590
| -50% | -$9.76M |
|
1654
Otter Tail
OTTR
$3.71B
| $8.99M | ﹤0.01% |
337,072
-337,072
| -50% | -$9.54M |
|
|
DCH
1655
Dauch Corp
DCH
$1.34B
| $8.97M | ﹤0.01% |
535,200
-535,200
| -50% | -$9.84M |
|
1656
Opko Health
OPK
$985M
| $8.96M | ﹤0.01% |
1,052,483
-1,711,099
| -62% | -$15M |
|
|
KG
1657
Kestrel Group
KG
$69.4M
| $8.94M | ﹤0.01% |
40,331
-25,971
| -39% | -$6.18M |
|
|
WAC
1658
DELISTED
Walter Investment Mgt Corp
WAC
| $8.91M | ﹤0.01% |
405,976
-420,662
| -51% | -$11M |
|
|
IMGN
1659
DELISTED
Immunogen Inc
IMGN
| $8.89M | ﹤0.01% |
839,562
-1,339,562
| -61% | -$15.2M |
|
1660
Interactive Brokers
IBKR
$39.2B
| $8.86M | ﹤0.01% |
1,420,152
-1,558,552
| -52% | -$9.27M |
|
|
KND
1661
DELISTED
Kindred Healthcare
KND
| $8.84M | ﹤0.01% |
455,520
-455,520
| -50% | -$9.93M |
|
1662
BGC Group
BGC
$5.45B
| $8.84M | ﹤0.01% |
1,849,271
-1,753,810
| -49% | -$8.58M |
|
1663
Delek US
DK
$4.16B
| $8.82M | ﹤0.01% |
266,176
-266,176
| -50% | -$8.5M |
|
|
ENIA
1664
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
| $8.8M | ﹤0.01% |
1,034,475
-4,598,448
| -82% | -$42.1M |
|
|
IRC
1665
DELISTED
INLAND REAL ESTATE CORP
IRC
| $8.8M | ﹤0.01% |
887,866
-887,866
| -50% | -$9.23M |
|
|
TPC
1666
Tutor Perini Cor
TPC
$4.41B
| $8.8M | ﹤0.01% |
333,245
-333,245
| -50% | -$9.72M |
|
1667
Adeia
ADEA
$2.94B
| $8.78M | ﹤0.01% |
1,247,907
-2,532,070
| -67% | -$17.7M |
|
|
NCI
1668
DELISTED
Navigant Consulting, Inc.
NCI
| $8.78M | ﹤0.01% |
630,818
-242,836
| -28% | -$3.93M |
|
1669
Resources Connection
RGP
$151M
| $8.76M | ﹤0.01% |
628,314
-628,314
| -50% | -$9.25M |
|
|
FNFV
1670
DELISTED
Fidelity Natl Financial, Inc.
FNFV
| $8.71M | ﹤0.01% |
+830,429
| New | +$9.9M |
|
1671
WesBanco
WSBC
$3.97B
| $8.71M | ﹤0.01% |
284,590
-284,590
| -50% | -$8.7M |
|
1672
Federal Signal
FSS
$7.63B
| $8.66M | ﹤0.01% |
654,098
-449,898
| -41% | -$6.54M |
|
1673
First Financial Bancorp
FFBC
$3.55B
| $8.65M | ﹤0.01% |
546,616
-546,616
| -50% | -$9.07M |
|
|
HOS
1674
DELISTED
Hornbeck Offshore Services, Inc.
HOS
| $8.61M | ﹤0.01% |
263,166
-390,726
| -60% | -$16.2M |
|
|
BGG
1675
DELISTED
Briggs & Stratton Corp.
BGG
| $8.59M | ﹤0.01% |
476,872
-476,872
| -50% | -$9.34M |
|
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.