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 | |
|---|---|---|---|---|---|---|
|
GTY
1951
Getty Realty Corp
GTY
$2.11B
| $4.42M | ﹤0.01% |
263,104
-263,105
| -50% | -$4.8M |
|
|
UHT
1952
Universal Health Realty Income Trust
UHT
$603M
| $4.39M | ﹤0.01% |
105,357
-105,357
| -50% | -$4.56M |
|
1953
NovaGold Resources
NG
$2.56B
| $4.39M | ﹤0.01% |
1,451,262
-2,632,862
| -64% | -$9.87M |
|
|
CMD
1954
DELISTED
Cantel Medical Corporation
CMD
| $4.39M | ﹤0.01% |
127,641
+23,841
| +23% | +$842K |
|
|
VWTR
1955
DELISTED
Vidler Water Resouces, Inc. Common Stock
VWTR
| $4.38M | ﹤0.01% |
219,654
-219,654
| -50% | -$4.81M |
|
|
SSI
1956
DELISTED
Stage Stores Inc
SSI
| $4.37M | ﹤0.01% |
255,432
-386,292
| -60% | -$6.92M |
|
|
PHIIK
1957
DELISTED
PHI, Inc. Non-Voting Common Stock
PHIIK
| $4.36M | ﹤0.01% |
105,910
-101,508
| -49% | -$4.28M |
|
|
UTEK
1958
DELISTED
Ultratech Inc.
UTEK
| $4.33M | ﹤0.01% |
190,433
-304,765
| -62% | -$7.43M |
|
|
DTSI
1959
DELISTED
DTS, Inc.
DTSI
| $4.25M | ﹤0.01% |
168,421
-168,421
| -50% | -$3.59M |
|
|
UAM
1960
DELISTED
Universal American Corp
UAM
| $4.25M | ﹤0.01% |
528,676
-528,676
| -50% | -$4.37M |
|
1961
Washington Trust Bancorp
WASH
$743M
| $4.25M | ﹤0.01% |
128,783
-193,671
| -60% | -$6.74M |
|
1962
Nordic American Tanker
NAT
$1.38B
| $4.24M | ﹤0.01% |
537,495
-701,160
| -57% | -$6.12M |
|
|
NVMI
1963
Nova
NVMI
$12.4B
| $4.14M | ﹤0.01% |
381,555
-381,555
| -50% | -$4.23M |
|
|
PBY
1964
DELISTED
PEP BOYS MANNY MOE& JACK
PBY
| $4.12M | ﹤0.01% |
462,898
-462,898
| -50% | -$4.98M |
|
|
WEB
1965
DELISTED
Web.com Group, Inc.
WEB
| $4.12M | ﹤0.01% |
206,297
-206,297
| -50% | -$4.63M |
|
|
UBA
1966
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
| $4.08M | ﹤0.01% |
200,792
-200,792
| -50% | -$4.2M |
|
|
BBOX
1967
DELISTED
Black Box Corp
BBOX
| $4.06M | ﹤0.01% |
174,202
-133,820
| -43% | -$3.01M |
|
|
KNL
1968
DELISTED
Knoll, Inc.
KNL
| $4.03M | ﹤0.01% |
233,086
-662,300
| -74% | -$11.8M |
|
1969
Denison Mines
DNN
$2.54B
| $3.99M | ﹤0.01% |
3,481,772
-3,481,772
| -50% | -$4.45M |
|
|
RSE
1970
DELISTED
ROUSE PPTYS INC COM (DE)
RSE
| $3.97M | ﹤0.01% |
245,613
-245,613
| -50% | -$4.23M |
|
1971
Tejon Ranch
TRC
$457M
| $3.97M | ﹤0.01% |
145,780
-145,780
| -50% | -$4.1M |
|
|
KFX
1972
DELISTED
KOFAX LIMITED COM STK
KFX
| $3.92M | ﹤0.01% |
502,820
-530,070
| -51% | -$4.08M |
|
1973
CBIZ
CBZ
$2.99B
| $3.9M | ﹤0.01% |
495,994
-495,994
| -50% | -$4.23M |
|
1974
NACCO Industries
NC
$357M
| $3.9M | ﹤0.01% |
343,279
-124,430
| -27% | -$1.48M |
|
|
ZPIN
1975
DELISTED
Zhaopin Limited
ZPIN
| $3.89M | ﹤0.01% |
300,000
-300,000
| -50% | -$4.36M |
|
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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.