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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
-0.22%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$185B
AUM Growth
-$186B
Cap. Flow
-$184B
Cap. Flow %
-99.43%
Top 10 Hldgs %
14.53%
Holding
2,360
New
110
Increased
49
Reduced
2,169
Closed
32

Top Buys

Rank Stock Value
1
WFT
Weatherford International plc
WFT
+$134M
2
AA icon
Alcoa
AA
+$129M
3
SWN
Southwestern Energy Company
SWN
+$99.6M
4
MTUS icon
Metallus
MTUS
+$92.2M
5
FWONK icon
Liberty Media Series C
FWONK
+$76.8M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$4.4B
2
BLK icon
Blackrock
BLK
+$3.79B
3
XOM icon
ExxonMobil
XOM
+$3.16B
4
MSFT icon
Microsoft
MSFT
+$2.79B
5
GOOG icon
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
KVHI icon
2251
KVH Industries
KVHI
$172M
$426K ﹤0.01%
37,622
-37,622
-50% -$482K
BVH
2252
DELISTED
Bluegreen Vacations Holding Corporation
BVH
$424K ﹤0.01%
+4,869
New +$451K
CYNO
2253
DELISTED
Cynosure, Inc. Class A
CYNO
$423K ﹤0.01%
20,121
-20,121
-50% -$443K
KWK
2254
DELISTED
QUICKSILVER RESOURCES INC
KWK
$423K ﹤0.01%
702,757
-702,757
-50% -$1.07M
PROV icon
2255
Provident Financial
PROV
$112M
$392K ﹤0.01%
26,900
-26,900
-50% -$394K
KANG
2256
DELISTED
iKang Healthcare Group, Inc.
KANG
$389K ﹤0.01%
20,000
-20,000
-50% -$390K
TZOO icon
2257
Travelzoo
TZOO
$75.1M
$387K ﹤0.01%
+25,000
New +$433K
OXSQ icon
2258
Oxford Square Capital
OXSQ
$150M
$374K ﹤0.01%
42,307
-40,693
-49% -$391K
BLOX
2259
DELISTED
Infoblox Inc
BLOX
$369K ﹤0.01%
25,000
-25,000
-50% -$324K
ARAV
2260
DELISTED
Aravive, Inc. Common Stock
ARAV
$365K ﹤0.01%
3,200
-3,200
-50% -$424K
AXAS
2261
DELISTED
Abraxas Petroleum Corp
AXAS
$359K ﹤0.01%
3,400
+1,300
+62% +$145K
LDL
2262
DELISTED
Lydall, Inc.
LDL
$348K ﹤0.01%
12,900
-12,900
-50% -$357K
CLMS
2263
DELISTED
Calamos Asset Management, Inc.
CLMS
$340K ﹤0.01%
30,200
-30,200
-50% -$382K
UCB
2264
United Community Banks
UCB
$4.25B
$313K ﹤0.01%
19,000
-19,000
-50% -$316K
DWSN
2265
DELISTED
DAWSON GEOPHYSICAL CO
DWSN
$286K ﹤0.01%
15,708
-15,708
-50% -$379K
NAK
2266
Northern Dynasty Minerals
NAK
$773M
$285K ﹤0.01%
497,254
-497,254
-50% -$364K
NP
2267
DELISTED
Neenah, Inc. Common Stock
NP
$278K ﹤0.01%
+5,200
New +$280K
ADUS icon
2268
Addus HomeCare
ADUS
$2.25B
$274K ﹤0.01%
14,000
-14,000
-50% -$303K
VALE icon
2269
Vale
VALE
$62.2B
$270K ﹤0.01%
24,534
-24,534
-50% -$328K
BGFV
2270
DELISTED
Big 5 Sporting Goods
BGFV
$268K ﹤0.01%
28,541
-7,859
-22% -$83.9K
ADPT
2271
DELISTED
Adeptus Health Inc
ADPT
$267K ﹤0.01%
+10,723
New +$280K
GBX icon
2272
The Greenbrier Companies
GBX
$1.58B
$262K ﹤0.01%
+3,568
New +$244K
LSG
2273
DELISTED
LAKE SHORE GOLD CORP
LSG
$260K ﹤0.01%
254,589
-5,238,877
-95% -$5.66M
RC
2274
Ready Capital
RC
$260M
$254K ﹤0.01%
14,700
-14,700
-50% -$257K
MBT
2275
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
$249K ﹤0.01%
16,638
-16,638
-50% -$305K
89 90
91
92 93

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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.