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 | |
|---|---|---|---|---|---|---|
901
American Eagle Outfitters
AEO
$2.97B
| $54M | 0.01% |
2,092,075
+1,103,554
| +112% | +$24.5M |
|
|
BPMC
902
DELISTED
Blueprint Medicines
BPMC
| $53.9M | 0.01% |
568,165
-37,786
| -6% | -$3.24M |
|
|
AL
903
DELISTED
Air Lease Corp
AL
| $53.9M | 0.01% |
1,047,371
+34,450
| +3% | +$1.47M |
|
904
Euronet Worldwide
EEFT
$2.73B
| $53.8M | 0.01% |
489,202
-52,198
| -10% | -$5.48M |
|
905
AppFolio
APPF
$6.87B
| $53.8M | 0.01% |
217,884
-4,108
| -2% | -$886K |
|
906
Ionis Pharmaceuticals
IONS
$9.06B
| $53.6M | 0.01% |
1,236,998
+65,062
| +6% | +$3.1M |
|
907
VF Corp
VFC
$5.8B
| $53.5M | 0.01% |
3,489,698
-555,998
| -14% | -$8.95M |
|
908
Lamar Advertising Co
LAMR
$16.2B
| $53.5M | 0.01% |
448,050
+86,687
| +24% | +$9.5M |
|
909
Vipshop
VIPS
$7.4B
| $53.5M | 0.01% |
3,231,487
-728,710
| -18% | -$12.3M |
|
910
Harley-Davidson
HOG
$2.71B
| $53.4M | 0.01% |
1,221,813
-185,897
| -13% | -$6.87M |
|
911
Brookfield Infrastructure
BIPC
$4.87B
| $53.4M | 0.01% |
1,481,235
-22,705
| -2% | -$795K |
|
912
Assured Guaranty
AGO
$3.66B
| $53.3M | 0.01% |
611,349
+55,308
| +10% | +$4.66M |
|
913
Kite Realty
KRG
$5.35B
| $53.3M | 0.01% |
2,458,132
+150,786
| +7% | +$3.24M |
|
914
Knife River
KNF
$3.83B
| $53.2M | 0.01% |
655,868
+43,175
| +7% | +$3.03M |
|
915
F5
FFIV
$23.5B
| $53.2M | 0.01% |
280,356
+23,695
| +9% | +$4.37M |
|
916
EnerSys
ENS
$6.83B
| $53.1M | 0.01% |
562,649
+99,628
| +22% | +$9.37M |
|
|
AEL
917
DELISTED
American Equity Investment Life Holding Company
AEL
| $53.1M | 0.01% |
944,776
+38,689
| +4% | +$2.15M |
|
918
White Mountains Insurance
WTM
$5.3B
| $53M | 0.01% |
29,550
+1,310
| +5% | +$2.2M |
|
|
GTM
919
ZoomInfo Technologies
GTM
$1.22B
| $52.8M | 0.01% |
3,296,456
+297,631
| +10% | +$4.84M |
|
920
Avnet
AVT
$7.94B
| $52.8M | 0.01% |
1,065,148
+51,955
| +5% | +$2.43M |
|
921
Moog Inc Class A
MOG.A
$13B
| $52.5M | 0.01% |
328,929
+122,606
| +59% | +$18M |
|
922
SLM Corp
SLM
$5.15B
| $52.4M | 0.01% |
2,406,387
+204,065
| +9% | +$4.07M |
|
923
Commault Systems
CVLT
$5.53B
| $52.4M | 0.01% |
516,739
+214,495
| +71% | +$19.4M |
|
924
Badger Meter
BMI
$3.98B
| $52.4M | 0.01% |
323,766
+16,977
| +6% | +$2.61M |
|
925
Varonis Systems
VRNS
$4.87B
| $52.4M | 0.01% |
1,110,386
-9,823
| -0.9% | -$468K |
|
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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.