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 | |
|---|---|---|---|---|---|---|
2001
OneSpan
OSPN
$574M
| $3.51M | ﹤0.01% |
186,915
-167,751
| -47% | -$2.45M |
|
2002
Stock Yards Bancorp
SYBT
$2.64B
| $3.5M | ﹤0.01% |
174,287
-174,286
| -50% | -$3.47M |
|
2003
Globe Life
GL
$14.2B
| $3.5M | ﹤0.01% |
66,763
-66,764
| -50% | -$3.6M |
|
2004
United Parks & Resorts
PRKS
$2.1B
| $3.5M | ﹤0.01% |
181,737
-181,737
| -50% | -$4.34M |
|
2005
Ennis
EBF
$552M
| $3.46M | ﹤0.01% |
262,643
-262,643
| -50% | -$3.77M |
|
|
SFY
2006
DELISTED
SWIFT ENERGY CO (HOLDING COMPANY)
SFY
| $3.45M | ﹤0.01% |
359,347
-583,307
| -62% | -$6.62M |
|
|
ANR
2007
DELISTED
Alpha Natural Resources Inc
ANR
| $3.43M | ﹤0.01% |
1,384,600
-884,600
| -39% | -$3.05M |
|
|
LHCG
2008
DELISTED
LHC Group LLC
LHCG
| $3.39M | ﹤0.01% |
145,941
-145,941
| -50% | -$3.45M |
|
|
LDR
2009
DELISTED
Landauer Inc
LDR
| $3.39M | ﹤0.01% |
102,584
-102,584
| -50% | -$3.94M |
|
|
SMRT
2010
DELISTED
Stein Mart Inc
SMRT
| $3.36M | ﹤0.01% |
290,728
-290,728
| -50% | -$3.76M |
|
|
AY
2011
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $3.36M | ﹤0.01% |
94,323
-305,677
| -76% | -$11.5M |
|
|
ENV
2012
DELISTED
ENVESTNET, INC.
ENV
| $3.34M | ﹤0.01% |
74,200
-74,200
| -50% | -$3.4M |
|
|
SODA
2013
DELISTED
SodaStream International Ltd
SODA
| $3.32M | ﹤0.01% |
112,680
-201,626
| -64% | -$6.43M |
|
2014
Harte-Hanks
HHS
$16.2M
| $3.25M | ﹤0.01% |
51,003
-51,004
| -50% | -$3.47M |
|
2015
CTS Corp
CTS
$1.83B
| $3.25M | ﹤0.01% |
204,368
-336,094
| -62% | -$5.97M |
|
|
GNCMA
2016
DELISTED
GCI Liberty, Inc. Class A-1 Common Stock
GNCMA
| $3.24M | ﹤0.01% |
297,140
-297,140
| -50% | -$3.3M |
|
2017
Warner Bros
WBD
$65.9B
| $3.24M | ﹤0.01% |
85,726
-249,806
| -74% | -$10.4M |
|
2018
Bristow Group
VTOL
$1.34B
| $3.18M | ﹤0.01% |
73,127
-103,126
| -59% | -$5.41M |
|
|
EPIQ
2019
DELISTED
EPIQ SYSTEMS INC
EPIQ
| $3.18M | ﹤0.01% |
180,995
-180,995
| -50% | -$2.69M |
|
2020
First Financial Corp
THFF
$958M
| $3.17M | ﹤0.01% |
102,357
-86,809
| -46% | -$2.76M |
|
2021
Gilat Satellite Networks
GILT
$834M
| $3.16M | ﹤0.01% |
648,240
-648,240
| -50% | -$3.08M |
|
|
STFC
2022
DELISTED
State Auto Financial Corp
STFC
| $3.13M | ﹤0.01% |
152,516
-145,780
| -49% | -$3.17M |
|
|
ELNK
2023
DELISTED
EarthLink Holdings Corp.
ELNK
| $3.12M | ﹤0.01% |
913,016
-913,016
| -50% | -$3.58M |
|
|
ININ
2024
DELISTED
Interactive Intelligence Group, inc.
ININ
| $3.12M | ﹤0.01% |
74,521
-74,521
| -50% | -$3.35M |
|
|
AT
2025
DELISTED
Atlantic Power Corporation
AT
| $3.1M | ﹤0.01% |
1,292,934
-1,272,802
| -50% | -$4.6M |
|
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.