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 | |
|---|---|---|---|---|---|---|
2101
Columbus McKinnon
CMCO
$422M
| $1.97M | ﹤0.01% |
89,413
+23,077
| +35% | +$582K |
|
2102
VirnetX Holding Corp
VHC
$53.8M
| $1.96M | ﹤0.01% |
16,289
-16,289
| -50% | -$4.37M |
|
|
RTEC
2103
DELISTED
Rudolph Technologies Inc
RTEC
| $1.95M | ﹤0.01% |
215,102
-357,508
| -62% | -$3.42M |
|
2104
Sony
SONY
$137B
| $1.94M | ﹤0.01% |
538,250
-538,250
| -50% | -$1.94M |
|
|
ENTR
2105
DELISTED
ENTROPIC COMMUNICATIONS INC COM STK (DE)
ENTR
| $1.94M | ﹤0.01% |
728,218
-728,218
| -50% | -$2.08M |
|
|
ARI
2106
Apollo Commercial Real Estate
ARI
$864M
| $1.94M | ﹤0.01% |
+123,152
| New | +$2.04M |
|
2107
MYR Group
MYRG
$5.01B
| $1.92M | ﹤0.01% |
+79,840
| New | +$1.96M |
|
|
SHOE
2108
Shoe Station Group
SHOE
$424M
| $1.92M | ﹤0.01% |
+215,632
| New | +$2.09M |
|
2109
TTM Technologies
TTMI
$10.6B
| $1.92M | ﹤0.01% |
281,989
-281,989
| -50% | -$2.14M |
|
|
SMA
2110
DELISTED
SYMMETRY MEDICAL INC
SMA
| $1.91M | ﹤0.01% |
189,574
-189,574
| -50% | -$1.76M |
|
|
ADAM
2111
Adamas Trust
ADAM
$777M
| $1.9M | ﹤0.01% |
65,789
-65,790
| -50% | -$2.05M |
|
|
TESO
2112
DELISTED
Tesco Corp
TESO
| $1.9M | ﹤0.01% |
95,648
+19,048
| +25% | +$391K |
|
|
NMBL
2113
DELISTED
Nimble Storage, Inc.
NMBL
| $1.9M | ﹤0.01% |
+73,046
| New | +$1.99M |
|
|
RT
2114
DELISTED
Ruby Tuesday Georgia
RT
| $1.89M | ﹤0.01% |
321,047
-321,047
| -50% | -$2.07M |
|
|
ESIO
2115
DELISTED
Electro Scientific Industries
ESIO
| $1.88M | ﹤0.01% |
277,089
-277,089
| -50% | -$1.91M |
|
|
ISSI
2116
DELISTED
INTEGRATED SILICON SOLUTN INC
ISSI
| $1.87M | ﹤0.01% |
136,054
+66,054
| +94% | +$982K |
|
|
VG
2117
DELISTED
Vonage Holdings Corporation
VG
| $1.87M | ﹤0.01% |
569,800
-569,800
| -50% | -$1.98M |
|
2118
E.W. Scripps
SSP
$270M
| $1.86M | ﹤0.01% |
128,874
-128,873
| -50% | -$2.28M |
|
2119
Jakks Pacific
JAKK
$303M
| $1.86M | ﹤0.01% |
26,142
-26,142
| -50% | -$1.85M |
|
|
AAIC
2120
DELISTED
Arlington Asset Investment Corp.
AAIC
| $1.84M | ﹤0.01% |
72,595
+52,595
| +263% | +$1.42M |
|
2121
Independent Bank Corp
IBCP
$796M
| $1.83M | ﹤0.01% |
+153,922
| New | +$1.91M |
|
2122
Tilly's
TLYS
$114M
| $1.79M | ﹤0.01% |
+237,812
| New | +$1.87M |
|
|
ALJ
2123
DELISTED
Alon USA Energy Inc
ALJ
| $1.79M | ﹤0.01% |
124,500
-124,500
| -50% | -$1.8M |
|
|
BPY
2124
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
| $1.76M | ﹤0.01% |
83,441
-83,441
| -50% | -$1.75M |
|
|
HF
2125
DELISTED
HFF Inc.
HF
| $1.75M | ﹤0.01% |
+60,587
| New | +$1.98M |
|
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.