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 | |
|---|---|---|---|---|---|---|
1901
MidCap Financial Investment
MFIC
$787M
| $5.33M | ﹤0.01% |
217,477
-217,477
| -50% | -$5.63M |
|
|
DRIV
1902
DELISTED
DIGITAL RIVER INC.
DRIV
| $5.3M | ﹤0.01% |
365,197
-365,197
| -50% | -$5.49M |
|
1903
National Healthcare
NHC
$3.53B
| $5.27M | ﹤0.01% |
94,970
-94,970
| -50% | -$5.36M |
|
|
TRST
1904
Trustco Bank Corp NY
TRST
$970M
| $5.26M | ﹤0.01% |
163,336
-163,336
| -50% | -$5.52M |
|
1905
Oaktree Specialty Lending
OCSL
$1.02B
| $5.26M | ﹤0.01% |
190,972
-190,972
| -50% | -$5.58M |
|
1906
Titan International
TWI
$466M
| $5.25M | ﹤0.01% |
444,207
-524,687
| -54% | -$7.69M |
|
1907
Coeur Mining
CDE
$15.4B
| $5.23M | ﹤0.01% |
1,055,020
-1,180,894
| -53% | -$9.08M |
|
|
FFIC
1908
DELISTED
Flushing Financial
FFIC
| $5.23M | ﹤0.01% |
286,294
-286,294
| -50% | -$5.5M |
|
1909
Powell Industries
POWL
$7.6B
| $5.21M | ﹤0.01% |
382,575
-89,415
| -19% | -$1.67M |
|
|
ACAS
1910
DELISTED
American Capital Ltd
ACAS
| $5.21M | ﹤0.01% |
367,893
-367,893
| -50% | -$5.61M |
|
1911
Red Robin
RRGB
$145M
| $5.21M | ﹤0.01% |
91,555
-91,555
| -50% | -$5.53M |
|
|
PKD
1912
DELISTED
Parker Drilling Company
PKD
| $5.2M | ﹤0.01% |
70,159
-70,159
| -50% | -$6.47M |
|
1913
Comfort Systems
FIX
$60.9B
| $5.18M | ﹤0.01% |
382,434
-382,434
| -50% | -$5.76M |
|
1914
JD.com
JD
$44.6B
| $5.16M | ﹤0.01% |
200,000
-200,000
| -50% | -$5.76M |
|
1915
TETRA Technologies
TTI
$1.14B
| $5.16M | ﹤0.01% |
477,159
-963,141
| -67% | -$11M |
|
1916
First Commonwealth Financial
FCF
$2.18B
| $5.16M | ﹤0.01% |
614,957
-1,417,141
| -70% | -$12.5M |
|
1917
Ormat Technologies
ORA
$6B
| $5.15M | ﹤0.01% |
195,875
-195,875
| -50% | -$5.33M |
|
|
ELX
1918
DELISTED
EMULEX CORP
ELX
| $5.06M | ﹤0.01% |
1,024,490
-724,490
| -41% | -$3.92M |
|
|
AUQ
1919
DELISTED
AURICO GOLD INC COM
AUQ
| $5.04M | ﹤0.01% |
1,441,487
-1,438,895
| -50% | -$5.92M |
|
|
CQB
1920
DELISTED
CHIQUITA BRANDS INTL (NEW)
CQB
| $5.03M | ﹤0.01% |
353,955
-353,955
| -50% | -$4.34M |
|
1921
Materion
MTRN
$4.39B
| $5.01M | ﹤0.01% |
163,206
-163,206
| -50% | -$5.55M |
|
|
MHR
1922
DELISTED
MAGNUM HUNTER RESOURCES CORP (DEL)
MHR
| $4.96M | ﹤0.01% |
890,879
-890,879
| -50% | -$5.89M |
|
1923
Gorman-Rupp
GRC
$2.14B
| $4.95M | ﹤0.01% |
164,919
-164,919
| -50% | -$5.23M |
|
1924
Griffon
GFF
$3.95B
| $4.95M | ﹤0.01% |
434,854
-434,854
| -50% | -$5.13M |
|
|
DCOM
1925
DELISTED
Dime Community Bancshares
DCOM
| $4.95M | ﹤0.01% |
343,903
-343,903
| -50% | -$5.24M |
|
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.