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 | |
|---|---|---|---|---|---|---|
|
FNFG
1926
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $4.95M | ﹤0.01% |
593,628
-366,356
| -38% | -$3.17M |
|
1927
Boyd Gaming
BYD
$6.18B
| $4.94M | ﹤0.01% |
486,043
-486,043
| -50% | -$5.27M |
|
|
CLVS
1928
DELISTED
Clovis Oncology, Inc.
CLVS
| $4.89M | ﹤0.01% |
107,751
-246,223
| -70% | -$10.3M |
|
1929
BancFirst
BANF
$3.79B
| $4.87M | ﹤0.01% |
155,608
-155,608
| -50% | -$4.86M |
|
|
RP
1930
DELISTED
RealPage, Inc.
RP
| $4.84M | ﹤0.01% |
312,170
-312,170
| -50% | -$5.32M |
|
|
FST
1931
DELISTED
FOREST OIL CORPORATION
FST
| $4.83M | ﹤0.01% |
4,131,344
-3,348,570
| -45% | -$6.07M |
|
|
SGI
1932
DELISTED
Silicon Graphics Intl.
SGI
| $4.83M | ﹤0.01% |
523,016
-45,412
| -8% | -$426K |
|
|
HAYN
1933
DELISTED
Haynes International, Inc.
HAYN
| $4.8M | ﹤0.01% |
104,324
-65,632
| -39% | -$3.36M |
|
|
MESG
1934
DELISTED
XURA INC COM (DE)
MESG
| $4.79M | ﹤0.01% |
214,399
-214,399
| -50% | -$5.31M |
|
|
MCF
1935
DELISTED
Contango Oil & Gas Co.
MCF
| $4.78M | ﹤0.01% |
143,803
-143,803
| -50% | -$5.61M |
|
1936
TIM SA
TIMB
$9.16B
| $4.76M | ﹤0.01% |
181,620
-181,620
| -50% | -$4.91M |
|
|
ITG
1937
DELISTED
Investment Technology Group Inc
ITG
| $4.73M | ﹤0.01% |
300,260
-300,260
| -50% | -$5.23M |
|
|
CNSL
1938
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
| $4.71M | ﹤0.01% |
187,945
-608,313
| -76% | -$14.3M |
|
|
GLF
1939
DELISTED
GulfMark Offshore, Inc. Common Stock
GLF
| $4.64M | ﹤0.01% |
148,141
-350,239
| -70% | -$13.7M |
|
|
INFI
1940
DELISTED
Infinity Pharmaceuticals, Inc.
INFI
| $4.61M | ﹤0.01% |
343,291
-343,291
| -50% | -$4.09M |
|
1941
Tredegar Corp
TG
$265M
| $4.6M | ﹤0.01% |
249,957
-221,949
| -47% | -$4.61M |
|
1942
China Yuchai International
CYD
$1.77B
| $4.59M | ﹤0.01% |
247,423
-387,423
| -61% | -$7.93M |
|
1943
Community Trust Bancorp
CTBI
$1.42B
| $4.58M | ﹤0.01% |
136,215
-136,217
| -50% | -$4.75M |
|
|
BSFT
1944
DELISTED
BroadSoft, Inc.
BSFT
| $4.55M | ﹤0.01% |
216,141
-225,741
| -51% | -$5.33M |
|
|
EZCH
1945
DELISTED
EZCHIP SEMICONDUCTOR LIMITED ORD SHS (IL)
EZCH
| $4.54M | ﹤0.01% |
187,990
-187,990
| -50% | -$4.78M |
|
1946
Ribbon Communications
RBBN
$377M
| $4.53M | ﹤0.01% |
265,011
-511,031
| -66% | -$9.75M |
|
1947
Apogee Enterprises
APOG
$826M
| $4.52M | ﹤0.01% |
113,567
-351,557
| -76% | -$12.5M |
|
1948
Scully Royalty
SRL
$77.3M
| $4.5M | ﹤0.01% |
126,639
-126,638
| -50% | -$4.84M |
|
|
SPTN
1949
DELISTED
SpartanNash
SPTN
| $4.5M | ﹤0.01% |
231,147
-231,147
| -50% | -$4.9M |
|
1950
Hecla Mining
HL
$9.47B
| $4.47M | ﹤0.01% |
1,803,154
-2,982,672
| -62% | -$9.33M |
|
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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.