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 | |
|---|---|---|---|---|---|---|
1701
Aramark
ARMK
$15B
| $8.02M | ﹤0.01% |
+422,169
| New | +$8.15M |
|
1702
National CineMedia
NCMI
$376M
| $8.01M | ﹤0.01% |
55,223
-55,224
| -50% | -$8.46M |
|
1703
HEICO Corp
HEI
$49.8B
| $7.98M | ﹤0.01% |
417,075
-525,396
| -56% | -$11M |
|
|
BXE
1704
DELISTED
Bellatrix Exploration Ltd.
BXE
| $7.97M | ﹤0.01% |
258,970
-102,468
| -28% | -$3.83M |
|
1705
Enpro
NPO
$6.63B
| $7.95M | ﹤0.01% |
131,274
-131,274
| -50% | -$8.94M |
|
|
BAS
1706
DELISTED
Basis Energy Services, Inc.
BAS
| $7.95M | ﹤0.01% |
643
-642
| -50% | -$9.08M |
|
|
ANH
1707
DELISTED
Anworth Mortgage Asset Corporation
ANH
| $7.94M | ﹤0.01% |
1,657,304
-1,104,974
| -40% | -$5.66M |
|
|
ILG
1708
DELISTED
ILG, Inc Common Stock
ILG
| $7.94M | ﹤0.01% |
416,587
-416,587
| -50% | -$8.83M |
|
1709
Orthofix Medical
OFIX
$477M
| $7.93M | ﹤0.01% |
256,049
-58,899
| -19% | -$1.95M |
|
1710
McGrath RentCorp
MGRC
$2.81B
| $7.9M | ﹤0.01% |
230,917
-230,917
| -50% | -$8.44M |
|
|
LOGM
1711
DELISTED
LogMein, Inc.
LOGM
| $7.88M | ﹤0.01% |
171,006
-171,006
| -50% | -$7.38M |
|
|
AXON
1712
Axon Enterprise
AXON
$42.5B
| $7.88M | ﹤0.01% |
510,144
-385,766
| -43% | -$5.46M |
|
|
MOVE
1713
DELISTED
MOVE INC COM STK NEW (DE)
MOVE
| $7.85M | ﹤0.01% |
374,491
-374,491
| -50% | -$5.63M |
|
1714
AAR Corp
AIR
$5.59B
| $7.84M | ﹤0.01% |
324,557
-369,777
| -53% | -$10M |
|
|
RAVN
1715
DELISTED
Raven Industries Inc
RAVN
| $7.83M | ﹤0.01% |
321,007
-321,007
| -50% | -$9.14M |
|
|
MDC
1716
DELISTED
M.D.C. Holdings, Inc.
MDC
| $7.83M | ﹤0.01% |
429,626
-608,196
| -59% | -$12.3M |
|
|
AEGN
1717
DELISTED
Aegion Corp
AEGN
| $7.83M | ﹤0.01% |
351,810
-351,810
| -50% | -$8.29M |
|
1718
Rush Enterprises Class A
RUSHA
$6.2B
| $7.78M | ﹤0.01% |
523,096
-534,264
| -51% | -$8.38M |
|
|
PRMW
1719
DELISTED
Primo Water Corporation
PRMW
| $7.73M | ﹤0.01% |
1,123,649
-647,913
| -37% | -$4.68M |
|
|
UTIW
1720
DELISTED
UTI WORLDWIDE INC
UTIW
| $7.73M | ﹤0.01% |
727,365
-727,365
| -50% | -$7.35M |
|
|
SHLD
1721
DELISTED
Sears Holding Corporation
SHLD
| $7.71M | ﹤0.01% |
328,079
-328,078
| -50% | -$10.7M |
|
1722
Diodes
DIOD
$3.78B
| $7.7M | ﹤0.01% |
322,077
-363,077
| -53% | -$9.61M |
|
|
ABMD
1723
DELISTED
Abiomed Inc
ABMD
| $7.67M | ﹤0.01% |
308,708
-232,634
| -43% | -$5.89M |
|
|
MANT
1724
DELISTED
Mantech International Corp
MANT
| $7.65M | ﹤0.01% |
283,762
-214,702
| -43% | -$6.15M |
|
1725
ESCO Technologies
ESE
$8.17B
| $7.63M | ﹤0.01% |
219,528
-219,528
| -50% | -$7.64M |
|
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.