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 | |
|---|---|---|---|---|---|---|
|
RTK
2026
DELISTED
Rentech, Inc.
RTK
| $3.1M | ﹤0.01% |
181,313
-301,313
| -62% | -$6.55M |
|
|
VOLC
2027
DELISTED
VOLCANO CORPORATION COM STK
VOLC
| $3.07M | ﹤0.01% |
288,253
-288,253
| -50% | -$4M |
|
|
PERY
2028
DELISTED
Perry Ellis International Inc
PERY
| $3.03M | ﹤0.01% |
148,698
-148,698
| -50% | -$2.88M |
|
|
ESI
2029
DELISTED
ITT EDUCATIONAL SERVICES INC
ESI
| $3M | ﹤0.01% |
700,111
+293,671
| +72% | +$3.05M |
|
|
LNW
2030
DELISTED
Light & Wonder
LNW
| $3M | ﹤0.01% |
278,079
-731,679
| -72% | -$7.48M |
|
2031
V2X
VVX
$2.83B
| $2.99M | ﹤0.01% |
+153,188
| New | +$3M |
|
|
NILE
2032
DELISTED
Blue Nile, Inc.
NILE
| $2.98M | ﹤0.01% |
104,203
-104,203
| -50% | -$2.9M |
|
|
AREX
2033
DELISTED
Approach Resources Inc.
AREX
| $2.96M | ﹤0.01% |
204,353
-552,291
| -73% | -$10.3M |
|
|
RDUS
2034
DELISTED
Radius Recycling
RDUS
| $2.94M | ﹤0.01% |
122,343
-295,637
| -71% | -$7.86M |
|
|
ACI
2035
DELISTED
ARCH COAL, INC.
ACI
| $2.93M | ﹤0.01% |
138,155
-138,154
| -50% | -$4.14M |
|
|
ZEP
2036
DELISTED
ZEP INC COM STK (DE)
ZEP
| $2.89M | ﹤0.01% |
206,107
-71,337
| -26% | -$1.14M |
|
2037
AeroVironment
AVAV
$7.56B
| $2.81M | ﹤0.01% |
93,615
-277,665
| -75% | -$8.84M |
|
2038
eHealth
EHTH
$42.2M
| $2.8M | ﹤0.01% |
116,131
-238,265
| -67% | -$6.5M |
|
2039
Arrow Financial
AROW
$659M
| $2.8M | ﹤0.01% |
144,306
-144,309
| -50% | -$2.85M |
|
|
TRK
2040
DELISTED
Speedway Motorsports, Inc.
TRK
| $2.8M | ﹤0.01% |
163,975
-163,975
| -50% | -$2.92M |
|
2041
Tower Semiconductor
TSEM
$24.8B
| $2.79M | ﹤0.01% |
274,369
-274,369
| -50% | -$2.91M |
|
|
BAGL
2042
DELISTED
EINSTEIN NOAH RESTAURANT GROUP, INC CMN STK (DELAWARE)
BAGL
| $2.77M | ﹤0.01% |
137,174
-137,174
| -50% | -$2.03M |
|
|
EXAS
2043
DELISTED
Exact Sciences
EXAS
| $2.76M | ﹤0.01% |
+142,518
| New | +$2.61M |
|
|
SA
2044
Seabridge Gold
SA
$2.78B
| $2.75M | ﹤0.01% |
341,090
-341,090
| -50% | -$3.21M |
|
2045
National Beverage
FIZZ
$2.96B
| $2.75M | ﹤0.01% |
281,658
-281,658
| -50% | -$2.63M |
|
2046
CEMIG Preferred Shares
CIG
$6.26B
| $2.69M | ﹤0.01% |
846,564
-846,564
| -50% | -$3.47M |
|
|
MBLY
2047
DELISTED
Mobileye N.V.
MBLY
| $2.68M | ﹤0.01% |
+50,000
| New | +$2.18M |
|
|
TVTY
2048
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $2.67M | ﹤0.01% |
166,875
-435,369
| -72% | -$7.38M |
|
2049
Kearny Financial
KRNY
$604M
| $2.67M | ﹤0.01% |
276,620
-316,099
| -53% | -$3.45M |
|
|
TGB
2050
Trekor Metals
TGB
$2.48B
| $2.65M | ﹤0.01% |
1,561,658
-1,561,658
| -50% | -$3.44M |
|
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.