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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
NTR icon
326
Nutrien
NTR
$31.7B
$323M 0.05%
5,947,718
+42,128
+0.7% +$2.2M
ALL icon
327
Allstate
ALL
$67.6B
$321M 0.05%
1,854,710
+334,703
+22% +$52.8M
NTAP icon
328
NetApp
NTAP
$37.4B
$320M 0.05%
3,051,345
+414,072
+16% +$38.4M
FITB
329
Fifth Third Bancorp
FITB
$51.6B
$319M 0.05%
8,574,738
+1,117,834
+15% +$38.9M
DLTR icon
330
Dollar Tree
DLTR
$24.9B
$318M 0.05%
2,391,530
+44,656
+2% +$6.15M
LNG icon
331
Cheniere Energy
LNG
$54.1B
$317M 0.05%
1,965,833
+156,273
+9% +$25.1M
ULTA icon
332
Ulta Beauty
ULTA
$23B
$316M 0.05%
604,935
+67,798
+13% +$35M
MBLY icon
333
Mobileye
MBLY
$2.04B
$315M 0.05%
9,807,149
-300,000
-3% -$8.52M
U icon
334
Unity
U
$15.4B
$312M 0.05%
11,667,819
+2,394,656
+26% +$75.3M
SAIA icon
335
Saia
SAIA
$9.61B
$307M 0.05%
524,600
+65,660
+14% +$34.4M
BMRN icon
336
BioMarin Pharmaceuticals
BMRN
$11.6B
$304M 0.05%
3,478,512
+117,202
+3% +$10.5M
RMD icon
337
ResMed
RMD
$31.2B
$302M 0.05%
1,524,131
+164,021
+12% +$30.1M
LYV icon
338
Live Nation Entertainment
LYV
$42.3B
$301M 0.05%
2,848,629
+197,571
+7% +$18.7M
CHD icon
339
Church & Dwight Co
CHD
$23.7B
$300M 0.05%
2,877,457
+128,229
+5% +$12.8M
KEYS icon
340
Keysight
KEYS
$55B
$299M 0.05%
1,912,370
+4,999
+0.3% +$769K
NDAQ icon
341
Nasdaq
NDAQ
$52.3B
$296M 0.05%
4,696,958
+580,222
+14% +$33.6M
ACI icon
342
Albertsons Companies
ACI
$5.58B
$296M 0.05%
13,816,613
+229,230
+2% +$4.92M
EA icon
343
Electronic Arts
EA
$53B
$294M 0.05%
2,215,239
+160,904
+8% +$22.1M
FSLR icon
344
First Solar
FSLR
$25B
$293M 0.05%
1,737,449
+6,995
+0.4% +$1.08M
NVR icon
345
NVR
NVR
$16.6B
$292M 0.05%
36,063
+918
+3% +$6.82M
ED icon
346
Consolidated Edison
ED
$39.8B
$292M 0.05%
3,213,822
+536,989
+20% +$48.1M
ARES icon
347
Ares Management
ARES
$31.3B
$291M 0.05%
2,186,340
+458,300
+27% +$58.5M
NEOG icon
348
Neogen
NEOG
$2.59B
$290M 0.05%
18,391,440
+201,766
+1% +$3.38M
GLW icon
349
Corning
GLW
$137B
$290M 0.05%
8,796,553
+661,200
+8% +$21.1M
ZBH icon
350
Zimmer Biomet
ZBH
$18.5B
$289M 0.05%
2,193,450
+388
+0% +$48.5K
12 13
14
15 16

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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.