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 |
Alphabet (Google) Class C
GOOG
|
+$1.19B |
| 2 |
Flutter Entertainment
FLUT
|
+$879M |
| 3 |
UnitedHealth
UNH
|
+$494M |
| 4 |
Micron Technology
MU
|
+$474M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$426M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$2.41B |
| 2 |
Apple
AAPL
|
+$1.93B |
| 3 |
T-Mobile US
TMUS
|
+$825M |
| 4 |
Amazon
AMZN
|
+$690M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
551
Cameco
CCJ
$41.1B
| $140M | 0.02% |
3,223,032
+914,836
| +40% | +$40.1M |
|
552
e.l.f. Beauty
ELF
$5.09B
| $139M | 0.02% |
709,600
+47,197
| +7% | +$8.38M |
|
553
WillScot Mobile Mini Holdings
WSC
$4.81B
| $139M | 0.02% |
2,980,111
+692,278
| +30% | +$32.2M |
|
554
Royalty Pharma
RPRX
$25.6B
| $137M | 0.02% |
4,500,061
+237,325
| +6% | +$7M |
|
555
Celsius Holdings
CELH
$7.45B
| $137M | 0.02% |
1,648,151
+86,512
| +6% | +$5.93M |
|
556
Trex
TREX
$5.05B
| $136M | 0.02% |
1,366,570
-5,732
| -0.4% | -$510K |
|
557
Kinsale Capital Group
KNSL
$8.45B
| $136M | 0.02% |
258,728
+24,151
| +10% | +$10.9M |
|
558
Core & Main
CNM
$8.71B
| $136M | 0.02% |
2,367,776
+653,288
| +38% | +$29.9M |
|
559
Advanced Drainage Systems
WMS
$11.5B
| $135M | 0.02% |
782,771
+152,510
| +24% | +$23M |
|
560
US Foods
USFD
$22.1B
| $134M | 0.02% |
2,490,103
+104,815
| +4% | +$5.16M |
|
|
HOLI
561
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
| $134M | 0.02% |
5,220,022
+574,400
| +12% | +$14.7M |
|
562
CMS Energy
CMS
$22.4B
| $134M | 0.02% |
2,212,735
+301,179
| +16% | +$17.5M |
|
|
EXAS
563
DELISTED
Exact Sciences
EXAS
| $133M | 0.02% |
1,931,673
+305,445
| +19% | +$19.3M |
|
564
CDW
CDW
$17.9B
| $133M | 0.02% |
520,535
+29,000
| +6% | +$6.89M |
|
565
Credicorp
BAP
$31.4B
| $131M | 0.02% |
775,962
+44,230
| +6% | +$7.11M |
|
566
Comfort Systems
FIX
$61.1B
| $130M | 0.02% |
410,490
+15,201
| +4% | +$3.88M |
|
567
Rexford Industrial Realty
REXR
$8.26B
| $129M | 0.02% |
2,566,770
-244,021
| -9% | -$12.9M |
|
568
Pembina Pipeline
PBA
$27.4B
| $129M | 0.02% |
3,649,349
-240,132
| -6% | -$8.28M |
|
569
Open Text
OTEX
$6.22B
| $128M | 0.02% |
3,309,925
-11,461
| -0.3% | -$461K |
|
|
CYBR
570
DELISTED
CyberArk
CYBR
| $128M | 0.02% |
482,491
+22,335
| +5% | +$5.53M |
|
571
Cloudflare
NET
$104B
| $128M | 0.02% |
1,320,255
-1,344,380
| -50% | -$122M |
|
572
Bath & Body Works
BBWI
$4.19B
| $128M | 0.02% |
2,549,018
+193,377
| +8% | +$8.68M |
|
573
International Paper
IP
$22.4B
| $127M | 0.02% |
3,249,300
+623,765
| +24% | +$22.6M |
|
574
Lattice Semiconductor
LSCC
$18.2B
| $126M | 0.02% |
1,616,505
+186,091
| +13% | +$13.3M |
|
575
Assurant
AIZ
$14.9B
| $126M | 0.02% |
671,319
+28,831
| +4% | +$5.02M |
|
Similar funds
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.