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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
INCY icon
601
Incyte
INCY
$23.6B
$117M 0.02%
2,052,072
+89,135
+5% +$5.35M
STN icon
602
Stantec
STN
$8.47B
$116M 0.02%
1,402,336
+38,309
+3% +$3.15M
CZR icon
603
Caesars Entertainment
CZR
$6.14B
$116M 0.02%
2,659,787
+479,467
+22% +$20.7M
AFG icon
604
American Financial Group
AFG
$12.1B
$116M 0.02%
847,398
+28,957
+4% +$3.61M
COHR icon
605
Coherent
COHR
$68.1B
$116M 0.02%
1,905,350
+331,804
+21% +$18.2M
XRAY icon
606
Dentsply Sirona
XRAY
$2.74B
$115M 0.02%
3,475,098
+266,123
+8% +$9.09M
NTRA icon
607
Natera
NTRA
$38.2B
$114M 0.02%
1,249,248
-91,266
-7% -$6.86M
HSIC icon
608
Henry Schein
HSIC
$9.99B
$114M 0.02%
1,509,638
+34,075
+2% +$2.56M
MOS icon
609
The Mosaic Company
MOS
$7.59B
$114M 0.02%
3,502,146
+482,470
+16% +$15.4M
BEKE icon
610
KE Holdings
BEKE
$18.6B
$113M 0.02%
8,264,620
+5,581,558
+208% +$78M
WWD icon
611
Woodward
WWD
$22.2B
$113M 0.02%
731,054
+112,841
+18% +$15.9M
EXP icon
612
Eagle Materials
EXP
$6.63B
$111M 0.02%
410,048
-28,352
-6% -$6.7M
TTEK icon
613
Tetra Tech
TTEK
$8.85B
$111M 0.02%
3,015,375
+120,290
+4% +$4.17M
SNX icon
614
TD Synnex
SNX
$20.9B
$111M 0.02%
984,753
+245,920
+33% +$25.5M
SCI icon
615
Service Corp International
SCI
$11.5B
$111M 0.02%
1,498,962
+150,083
+11% +$10.6M
FWONK icon
616
Liberty Media Series C
FWONK
$24.5B
$111M 0.02%
1,695,535
+257,467
+18% +$17.3M
ZM icon
617
Zoom
ZM
$29.4B
$111M 0.02%
1,699,090
-584,654
-26% -$39M
NKLA
618
DELISTED
Nikola Corporation Common Stock
NKLA
$111M 0.02%
3,545,694
-22,100
-0.6% -$474K
WCC
619
WESCO International
WCC
$18.5B
$111M 0.02%
645,453
+190,638
+42% +$31.5M
GWRE icon
620
Guidewire Software
GWRE
$13.1B
$110M 0.02%
945,455
+48,266
+5% +$5.52M
JLL icon
621
Jones Lang LaSalle
JLL
$16.9B
$110M 0.02%
564,325
+49,568
+10% +$9.02M
ATR icon
622
AptarGroup
ATR
$8.65B
$108M 0.02%
753,204
+26,339
+4% +$3.57M
LAD icon
623
Lithia Motors
LAD
$8.32B
$108M 0.02%
357,425
-19,081
-5% -$5.64M
WFRD icon
624
Weatherford International
WFRD
$6.49B
$108M 0.02%
931,652
+14,122
+2% +$1.43M
CHE icon
625
Chemed
CHE
$7.1B
$107M 0.02%
167,083
+9,137
+6% +$5.55M
23 24
25
26 27

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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.