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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
+12.61%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$634B
AUM Growth
+$61.3B
Cap. Flow
+$6.27B
Cap. Flow %
0.99%
Top 10 Hldgs %
27.3%
Holding
1,998
New
56
Increased
971
Reduced
737
Closed
113

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.19B
2
FLUT icon
Flutter Entertainment
FLUT
+$879M
3
UNH icon
UnitedHealth
UNH
+$494M
4
MU icon
Micron Technology
MU
+$474M
5
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$426M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$2.41B
2
AAPL icon
Apple
AAPL
+$1.93B
3
TMUS icon
T-Mobile US
TMUS
+$825M
4
AMZN icon
Amazon
AMZN
+$690M
5
MSFT icon
Microsoft
MSFT
+$583M

Sector Composition

Rank Sector Weight
1 Technology 28.02%
2 Financials 14.31%
3 Healthcare 12.25%
4 Consumer Discretionary 10.83%
5 Communication Services 8.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
251
Alibaba
BABA
$309B
$457M 0.07%
6,315,617
+2,066,269
+49% +$151M
PHM icon
252
Pultegroup
PHM
$24.6B
$453M 0.07%
3,758,226
+57,785
+2% +$6.2M
RSG icon
253
Republic Services
RSG
$64.5B
$450M 0.07%
2,349,335
+173,378
+8% +$30.8M
LYB icon
254
LyondellBasell Industries
LYB
$19.6B
$448M 0.07%
4,377,095
+3,505,678
+402% +$341M
MMM icon
255
3M
MMM
$91.4B
$447M 0.07%
5,043,545
-454,914
-8% -$37.7M
MAR icon
256
Marriott International
MAR
$90.4B
$445M 0.07%
1,764,723
-281,859
-14% -$68.3M
CUBE icon
257
CubeSmart
CUBE
$9.47B
$440M 0.07%
9,732,909
+135,964
+1% +$6.03M
VICI icon
258
VICI Properties
VICI
$29.2B
$440M 0.07%
14,756,305
+313,673
+2% +$9.41M
CPNG icon
259
Coupang
CPNG
$30.1B
$439M 0.07%
24,653,806
+9,168,071
+59% +$150M
COF icon
260
Capital One
COF
$134B
$438M 0.07%
2,941,797
-183,819
-6% -$24.9M
RYN icon
261
Rayonier
RYN
$6.48B
$437M 0.07%
14,485,520
– –
CM icon
262
Canadian Imperial Bank of Commerce
CM
$109B
$434M 0.07%
8,560,321
+169,822
+2% +$8.02M
AKAM icon
263
Akamai
AKAM
$17.9B
$433M 0.07%
3,977,792
+1,229,652
+45% +$142M
GIS icon
264
General Mills
GIS
$19.2B
$429M 0.07%
6,132,168
+341,483
+6% +$22.2M
CARR icon
265
Carrier Global
CARR
$52.1B
$427M 0.07%
7,347,306
-389,626
-5% -$21.9M
MPWR icon
266
Monolithic Power Systems
MPWR
$65.6B
$427M 0.07%
629,965
+55,316
+10% +$36.9M
IT icon
267
Gartner
IT
$10.1B
$426M 0.07%
894,607
+32,775
+4% +$15.1M
IR icon
268
Ingersoll Rand
IR
$34.1B
$425M 0.07%
4,480,682
+577,264
+15% +$49.4M
PWR icon
269
Quanta Services
PWR
$102B
$425M 0.07%
1,636,672
+80,710
+5% +$17.9M
GEHC icon
270
GE HealthCare
GEHC
$31.5B
$424M 0.07%
4,668,651
+1,706,265
+58% +$142M
IQV icon
271
IQVIA
IQV
$38.4B
$424M 0.07%
1,676,288
+17,955
+1% +$4.19M
ALB icon
272
Albemarle
ALB
$14.2B
$422M 0.07%
3,203,116
+591,398
+23% +$72.8M
ELS icon
273
Equity Lifestyle Properties
ELS
$12.7B
$422M 0.07%
6,548,342
+89,266
+1% +$5.99M
ON icon
274
ON Semiconductor
ON
$31.4B
$414M 0.07%
5,633,159
+627,751
+13% +$48M
ADM icon
275
Archer Daniels Midland
ADM
$38.5B
$410M 0.06%
6,520,437
+698,549
+12% +$41M
9 10
11
12 13

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Norges Bank's Q1 2024 Portfolio in Review

As of Q1 2024, Norges Bank held 1,998 positions worth $634B, up 11% from $572B the previous quarter. Its ten largest holdings account for 27% of the portfolio.

Norges Bank's Q1 2024 filing shows 56 new, 971 increased, 737 reduced and 113 closed positions. Its largest new stake was Flutter Entertainment: 4,117,926 shares worth $820M. The largest sale was Alphabet (Google) Class A, an estimated $2.41B.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 28% a quarter earlier, followed by Financials and Healthcare.

  • Norges Bank's largest Q1 2024 buy was Flutter Entertainment: 4,117,926 shares worth $820M.
  • Norges Bank added most to Alphabet (Google) Class C in Q1 2024, an estimated $1.19B increase.
  • Norges Bank's biggest Q1 2024 reduction was Alphabet (Google) Class A, cutting an estimated $2.41B.
  • Norges Bank fully exited Splunk Inc in Q1 2024, selling an estimated $379M.
  • Norges Bank's ten largest holdings make up 27% of its $634B portfolio in Q1 2024.
  • Norges Bank opened 56 new positions and closed 113 in Q1 2024.
  • Norges Bank's portfolio value rose 11% quarter-over-quarter to $634B.

Based on Norges Bank's 13F filing for Q1 2024, filed 14 May 2024.