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 | |
|---|---|---|---|---|---|---|
|
BBBY
2226
Bed Bath & Beyond
BBBY
$476M
| $740K | ﹤0.01% |
58,431
+48,049
| +463% | +$607K |
|
|
HNH
2227
DELISTED
Handy & Harman Holdings Ltd.
HNH
| $720K | ﹤0.01% |
+27,414
| New | +$693K |
|
2228
El Pollo Loco
LOCO
$504M
| $718K | ﹤0.01% |
+20,000
| New | +$691K |
|
|
WMC
2229
DELISTED
Western Asset Mortgage Capital Corporation
WMC
| $703K | ﹤0.01% |
4,753
-21,340
| -82% | -$3.1M |
|
|
CAS
2230
DELISTED
A M Castle & Co
CAS
| $667K | ﹤0.01% |
78,115
-78,115
| -50% | -$771K |
|
|
EDMC
2231
DELISTED
EDUCATION MGMT CORP NEW COM STK (PA)
EDMC
| $629K | ﹤0.01% |
576,930
-576,930
| -50% | -$797K |
|
2232
Kadant
KAI
$3.58B
| $628K | ﹤0.01% |
16,086
+10,930
| +212% | +$429K |
|
2233
Chegg
CHGG
$118M
| $624K | ﹤0.01% |
100,000
-100,000
| -50% | -$659K |
|
|
PNNT
2234
Pennant Park Investment Corp
PNNT
$222M
| $618K | ﹤0.01% |
56,614
-56,614
| -50% | -$651K |
|
|
MEG
2235
DELISTED
Media General, Inc
MEG
| $616K | ﹤0.01% |
47,000
-47,000
| -50% | -$845K |
|
|
LABL
2236
DELISTED
Multi-Color Corp
LABL
| $609K | ﹤0.01% |
13,400
-13,400
| -50% | -$582K |
|
2237
Mannatech
MTEX
$9.57M
| $571K | ﹤0.01% |
36,596
-13,202
| -27% | -$176K |
|
|
BDBD
2238
DELISTED
BOULDER BRANDS INC
BDBD
| $552K | ﹤0.01% |
+40,519
| New | +$537K |
|
|
LIOX
2239
DELISTED
Lionbridge Technologies
LIOX
| $527K | ﹤0.01% |
+117,016
| New | +$598K |
|
2240
Ampco-Pittsburgh
AP
$167M
| $518K | ﹤0.01% |
25,911
+24,311
| +1,519% | +$514K |
|
|
XOXO
2241
DELISTED
Xo Group Inc
XOXO
| $504K | ﹤0.01% |
+45,000
| New | +$531K |
|
2242
Spok Holdings
SPOK
$230M
| $502K | ﹤0.01% |
38,600
-38,600
| -50% | -$574K |
|
2243
SLR Investment Corp
SLRC
$712M
| $486K | ﹤0.01% |
26,003
-26,003
| -50% | -$523K |
|
|
MKTO
2244
DELISTED
MARKETO INC COM STK (DE)
MKTO
| $484K | ﹤0.01% |
15,000
-15,000
| -50% | -$438K |
|
2245
ICF International
ICFI
$1.51B
| $458K | ﹤0.01% |
14,850
-14,850
| -50% | -$510K |
|
|
REGI
2246
DELISTED
Renewable Energy Group, Inc.
REGI
| $451K | ﹤0.01% |
44,405
-44,405
| -50% | -$499K |
|
2247
Golub Capital BDC
GBDC
$3.37B
| $439K | ﹤0.01% |
28,110
-27,118
| -49% | -$451K |
|
|
PRGX
2248
DELISTED
PRGX Global, Inc.
PRGX
| $439K | ﹤0.01% |
75,000
-75,000
| -50% | -$469K |
|
2249
KT
KT
$8.79B
| $434K | ﹤0.01% |
26,795
-26,795
| -50% | -$433K |
|
2250
Global Industrial
GIC
$1.37B
| $426K | ﹤0.01% |
+34,184
| New | +$480K |
|
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.