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 | |
|---|---|---|---|---|---|---|
1751
BJ's Restaurants
BJRI
$1.42B
| $7.27M | ﹤0.01% |
201,926
-271,926
| -57% | -$9.61M |
|
1752
City Holding Co
CHCO
$2.05B
| $7.27M | ﹤0.01% |
172,484
-125,874
| -42% | -$5.4M |
|
|
MTOR
1753
DELISTED
MERITOR, Inc.
MTOR
| $7.26M | ﹤0.01% |
669,373
-1,053,225
| -61% | -$13.7M |
|
|
IPCM
1754
DELISTED
IPC HEALTHCARE INC COM DTD
IPCM
| $7.23M | ﹤0.01% |
161,485
-161,485
| -50% | -$7.63M |
|
1755
SouthState Bank Corp
SSB
$10.2B
| $7.23M | ﹤0.01% |
+129,212
| New | +$7.63M |
|
|
FFG
1756
DELISTED
FBL Financial Group
FFG
| $7.22M | ﹤0.01% |
161,434
-100,570
| -38% | -$4.53M |
|
1757
United Fire Group
UFCS
$1.32B
| $7.21M | ﹤0.01% |
259,755
-190,069
| -42% | -$5.5M |
|
|
ALOG
1758
DELISTED
Analogic Corp
ALOG
| $7.18M | ﹤0.01% |
112,248
-112,248
| -50% | -$8.04M |
|
1759
Usana Health Sciences
USNA
$408M
| $7.17M | ﹤0.01% |
194,558
-98,466
| -34% | -$3.55M |
|
1760
American Public Education
APEI
$890M
| $7.16M | ﹤0.01% |
265,100
-265,100
| -50% | -$8.35M |
|
|
STAY
1761
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $7.12M | ﹤0.01% |
+299,780
| New | +$6.96M |
|
1762
Interface
TILE
$1.99B
| $7.11M | ﹤0.01% |
440,442
-690,442
| -61% | -$11.9M |
|
|
SIR
1763
DELISTED
SELECT INCOME REIT
SIR
| $7.09M | ﹤0.01% |
670,622
+102,782
| +18% | +$1.24M |
|
|
FRGI
1764
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
| $7.06M | ﹤0.01% |
142,025
+19,225
| +16% | +$914K |
|
|
CWEI
1765
DELISTED
Clayton Williams Energy, Inc.
CWEI
| $7.03M | ﹤0.01% |
72,926
-72,926
| -50% | -$8.43M |
|
1766
Pinnacle Financial Partners Inc
PNFP
$15.9B
| $7.03M | ﹤0.01% |
194,786
-483,958
| -71% | -$17.8M |
|
|
AHT
1767
Ashford Hospitality Trust
AHT
$20.9M
| $7.03M | ﹤0.01% |
737
-737
| -50% | -$7.89M |
|
1768
Zurn Elkay Water Solutions
ZWS
$8.38B
| $7M | ﹤0.01% |
511,024
-651,569
| -56% | -$8.95M |
|
|
TCF
1769
DELISTED
TCF Financial Corporation Common Stock
TCF
| $7M | ﹤0.01% |
260,410
-243,676
| -48% | -$6.8M |
|
|
WIRE
1770
DELISTED
Encore Wire Corp
WIRE
| $6.99M | ﹤0.01% |
188,411
-188,411
| -50% | -$8.2M |
|
1771
Comtech Telecommunications
CMTL
$50.3M
| $6.98M | ﹤0.01% |
187,833
-187,833
| -50% | -$6.86M |
|
1772
Kelly Services Class A
KELYA
$514M
| $6.97M | ﹤0.01% |
444,727
-372,137
| -46% | -$6.16M |
|
1773
Encore Capital Group
ECPG
$2.02B
| $6.96M | ﹤0.01% |
157,012
-157,012
| -50% | -$6.94M |
|
1774
ICU Medical
ICUI
$4.21B
| $6.95M | ﹤0.01% |
108,255
-91,207
| -46% | -$5.59M |
|
1775
Strategic Education
STRA
$1.85B
| $6.94M | ﹤0.01% |
115,922
-115,922
| -50% | -$6.54M |
|
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.