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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
CMC icon
701
Commercial Metals
CMC
$8.24B
$84.7M 0.01%
1,441,210
-451,713
-24% -$23.9M
BERY
702
DELISTED
Berry Global Group, Inc.
BERY
$84.6M 0.01%
1,524,204
+205,294
+16% +$11.7M
APG icon
703
APi Group
APG
$17.9B
$84.5M 0.01%
3,229,377
-111,845
-3% -$2.6M
ALLY icon
704
Ally Financial
ALLY
$13.4B
$84.3M 0.01%
2,076,255
+275,873
+15% +$10.1M
AXNX
705
DELISTED
Axonics, Inc. Common Stock
AXNX
$84.2M 0.01%
1,221,395
+616,464
+102% +$41.6M
HRB icon
706
H&R Block
HRB
$5.81B
$84.2M 0.01%
1,715,138
+7,360
+0.4% +$350K
JXN icon
707
Jackson Financial
JXN
$8.99B
$83.9M 0.01%
1,269,091
+269,307
+27% +$14.6M
TPG icon
708
TPG
TPG
$7.78B
$83.6M 0.01%
1,869,569
+660,653
+55% +$28.3M
MTG icon
709
MGIC Investment
MTG
$6.2B
$83.6M 0.01%
3,737,345
+520,805
+16% +$10.4M
SOFI icon
710
SoFi Technologies
SOFI
$23.4B
$83.4M 0.01%
11,430,376
+4,259,639
+59% +$33.8M
NYT icon
711
New York Times
NYT
$10.5B
$83.3M 0.01%
1,928,246
+96,166
+5% +$4.38M
RBC icon
712
RBC Bearings
RBC
$18B
$83.3M 0.01%
308,058
+15,600
+5% +$4.21M
BECN
713
DELISTED
Beacon Roofing Supply, Inc.
BECN
$83.3M 0.01%
849,420
+161,642
+24% +$14M
ATKR icon
714
Atkore
ATKR
$3.16B
$83.1M 0.01%
436,417
+10,738
+3% +$1.72M
CCEP icon
715
Coca-Cola Europacific Partners
CCEP
$47.7B
$82.8M 0.01%
1,183,413
+159,144
+16% +$10.9M
PATH icon
716
UiPath
PATH
$7.13B
$82.6M 0.01%
3,643,102
-3,029,559
-45% -$70.9M
ALSN icon
717
Allison Transmission
ALSN
$9.69B
$82.1M 0.01%
1,011,005
+42,232
+4% +$2.85M
VNT icon
718
Vontier
VNT
$4.97B
$81.7M 0.01%
1,801,467
+47,151
+3% +$1.84M
BIO icon
719
Bio-Rad Laboratories Class A
BIO
$9.12B
$81.2M 0.01%
234,806
+8,283
+4% +$2.72M
HAS icon
720
Hasbro
HAS
$12.9B
$80.9M 0.01%
1,431,310
+49,714
+4% +$2.53M
WFG icon
721
West Fraser Timber
WFG
$5.41B
$80.8M 0.01%
934,861
+41,724
+5% +$3.41M
BWA icon
722
BorgWarner
BWA
$13.7B
$80.7M 0.01%
2,322,868
+217,173
+10% +$7.1M
ONON icon
723
On Holding
ONON
$12.5B
$80.1M 0.01%
2,264,342
+116,909
+5% +$3.57M
KDP icon
724
Keurig Dr Pepper
KDP
$41.7B
$80M 0.01%
2,608,149
-6,935,052
-73% -$214M
TME icon
725
Tencent Music
TME
$15.7B
$79.9M 0.01%
7,137,600
-4,552,507
-39% -$44.7M
27 28
29
30 31

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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.