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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
SJM icon
451
J.M. Smucker
SJM
$12.7B
$194M 0.03%
1,543,371
+300,473
+24% +$38M
ROL icon
452
Rollins
ROL
$18.1B
$194M 0.03%
4,197,795
-1,684,082
-29% -$74.2M
HEI.A icon
453
HEICO Corp Class A
HEI.A
$37.2B
$194M 0.03%
1,258,077
+31,619
+3% +$4.68M
TFII icon
454
TFI International
TFII
$11.5B
$194M 0.03%
1,213,865
-147,038
-11% -$21M
MANH icon
455
Manhattan Associates
MANH
$11.2B
$193M 0.03%
773,270
+90,640
+13% +$21.6M
SWKS icon
456
Skyworks Solutions
SWKS
$10.1B
$188M 0.03%
1,735,445
-277,239
-14% -$29.1M
IFF icon
457
International Flavors & Fragrances
IFF
$22.5B
$186M 0.03%
2,164,532
+1,178,835
+120% +$94.7M
KNX icon
458
Knight Transportation
KNX
$11.5B
$186M 0.03%
3,381,221
-109,359
-3% -$6.17M
NTNX icon
459
Nutanix
NTNX
$16.5B
$186M 0.03%
3,013,722
+131,253
+5% +$7.57M
LOGI icon
460
Logitech
LOGI
$15.1B
$185M 0.03%
2,068,544
-189,565
-8% -$16.9M
DOCU
461
DocuSign
DOCU
$11B
$185M 0.03%
3,105,875
+854,800
+38% +$48.3M
MKC icon
462
McCormick & Company Non-Voting
MKC
$14.1B
$183M 0.03%
2,380,901
+27,803
+1% +$1.89M
MGA icon
463
Magna International
MGA
$19.2B
$183M 0.03%
3,355,557
+123,367
+4% +$6.81M
EPAM icon
464
EPAM Systems
EPAM
$5.74B
$182M 0.03%
659,491
+38,274
+6% +$11.3M
FICO icon
465
Fair Isaac
FICO
$23.6B
$182M 0.03%
145,624
-77,320
-35% -$96.7M
BURL icon
466
Burlington
BURL
$23.2B
$182M 0.03%
783,356
+35,356
+5% +$7.21M
CAG icon
467
Conagra Brands
CAG
$7.18B
$181M 0.03%
6,103,025
+1,201,678
+25% +$34.3M
APTV icon
468
Aptiv
APTV
$9.95B
$180M 0.03%
2,259,654
-1,116,423
-33% -$90M
ES icon
469
Eversource Energy
ES
$27.3B
$180M 0.03%
3,006,325
+577,518
+24% +$33.2M
RBLX icon
470
Roblox
RBLX
$25.9B
$178M 0.03%
4,674,479
-54,178
-1% -$2.2M
SSNC icon
471
SS&C Technologies
SSNC
$18.6B
$178M 0.03%
2,771,520
+8,310
+0.3% +$516K
RPM icon
472
RPM International
RPM
$14.9B
$178M 0.03%
1,499,677
+45,694
+3% +$5.08M
BBY icon
473
Best Buy
BBY
$17.8B
$177M 0.03%
2,158,815
+48,902
+2% +$3.72M
OKTA icon
474
Okta
OKTA
$25.6B
$177M 0.03%
1,690,708
+25,024
+2% +$2.31M
NDSN icon
475
Nordson
NDSN
$17.3B
$176M 0.03%
640,140
+38,428
+6% +$10M
17 18
19
20 21

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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.