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 | |
|---|---|---|---|---|---|---|
2276
Barings BDC
BBDC
$873M
| $248K | ﹤0.01% |
9,783
-9,783
| -50% | -$265K |
|
|
GSIG
2277
DELISTED
GSI GROUP INC COM STK (CDA)
GSIG
| $242K | ﹤0.01% |
21,100
-21,100
| -50% | -$257K |
|
|
WLT
2278
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
| $240K | ﹤0.01% |
102,693
-780,555
| -88% | -$4.04M |
|
|
PPP
2279
DELISTED
Primero Mining Corp
PPP
| $230K | ﹤0.01% |
+47,250
| New | +$325K |
|
2280
A10 Networks
ATEN
$2.12B
| $228K | ﹤0.01% |
25,000
-25,000
| -50% | -$286K |
|
|
SGM
2281
DELISTED
Stonegate Mortgage Corporation
SGM
| $226K | ﹤0.01% |
17,400
-17,400
| -50% | -$241K |
|
|
BFX
2282
DELISTED
BowFlex Inc.
BFX
| $224K | ﹤0.01% |
+18,734
| New | +$217K |
|
|
CMGE
2283
DELISTED
CHINA MOBILE GAMES & ENTMT GRP LTD SPON ADR (CYM)
CMGE
| $216K | ﹤0.01% |
10,255
-10,255
| -50% | -$184K |
|
2284
Artivion
AORT
$1.33B
| $200K | ﹤0.01% |
20,300
-20,300
| -50% | -$200K |
|
|
NATL
2285
DELISTED
National Interstate Corporation
NATL
| $197K | ﹤0.01% |
7,072
-168,078
| -96% | -$4.7M |
|
|
BBT
2286
Beacon Financial Corp
BBT
$2.51B
| $190K | ﹤0.01% |
8,103
-8,103
| -50% | -$195K |
|
|
SKUL
2287
DELISTED
SKULLCANDY INC
SKUL
| $187K | ﹤0.01% |
24,036
-24,036
| -50% | -$185K |
|
|
LF
2288
DELISTED
LEAPFROG ENTERPRISES INC.
LF
| $180K | ﹤0.01% |
30,000
-30,000
| -50% | -$201K |
|
2289
Global Indemnity Group
GBLI
$406M
| $179K | ﹤0.01% |
7,097
-7,097
| -50% | -$184K |
|
2290
Hackett Group
HCKT
$275M
| $175K | ﹤0.01% |
29,300
-29,300
| -50% | -$179K |
|
|
BAA
2291
DELISTED
Banro Corporation Common Stock
BAA
| $172K | ﹤0.01% |
109,802
-109,801
| -50% | -$288K |
|
|
BELFB
2292
Bel Fuse Inc Class B
BELFB
$3.37B
| $158K | ﹤0.01% |
+6,389
| New | +$154K |
|
2293
Evolution Petroleum
EPM
$131M
| $154K | ﹤0.01% |
+16,773
| New | +$173K |
|
|
SFS
2294
DELISTED
Smart & Final Stores, Inc.
SFS
| $144K | ﹤0.01% |
+10,000
| New | +$134K |
|
2295
Aviat Networks
AVNW
$249M
| $140K | ﹤0.01% |
12,983
-12,984
| -50% | -$111K |
|
|
TRR
2296
DELISTED
Trc Companies
TRR
| $135K | ﹤0.01% |
+20,712
| New | +$119K |
|
|
FSYS
2297
DELISTED
FUEL SYSTEMS SOLUTIONS INC COM STK
FSYS
| $134K | ﹤0.01% |
15,001
-15,001
| -50% | -$155K |
|
|
COCO
2298
DELISTED
CORINTHIAN COLLEGES INC
COCO
| $127K | ﹤0.01% |
1,150,000
-1,150,000
| -50% | -$206K |
|
2299
Digi International
DGII
$2.42B
| $126K | ﹤0.01% |
16,782
-16,782
| -50% | -$140K |
|
2300
Future Fuel
FF
$204M
| $125K | ﹤0.01% |
10,477
-7,931
| -43% | -$116K |
|
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.