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 | |
|---|---|---|---|---|---|---|
1151
IPG Photonics
IPGP
$3.86B
| $29.6M | ﹤0.01% |
326,882
-8,154
| -2% | -$766K |
|
1152
Alaska Air
ALK
$5.77B
| $29.6M | ﹤0.01% |
688,775
+344,918
| +100% | +$12.9M |
|
1153
Modine Manufacturing
MOD
$10.5B
| $29.6M | ﹤0.01% |
310,470
+231,062
| +291% | +$17.9M |
|
1154
Affirm
AFRM
$26.3B
| $29.5M | ﹤0.01% |
791,251
-578,515
| -42% | -$23.1M |
|
1155
GlobalFoundries
GFS
$27.2B
| $29.2M | ﹤0.01% |
560,497
+253,093
| +82% | +$13.9M |
|
1156
QuidelOrtho
QDEL
$1.17B
| $29.2M | ﹤0.01% |
608,747
+39,310
| +7% | +$2.29M |
|
1157
Remitly
RELY
$5.3B
| $29.2M | ﹤0.01% |
1,406,691
+26,590
| +2% | +$505K |
|
1158
Marqeta
MQ
$1.74B
| $29.1M | ﹤0.01% |
1,222,194
+228,661
| +23% | +$5.66M |
|
1159
First Hawaiian
FHB
$3.39B
| $29M | ﹤0.01% |
1,322,712
-107,271
| -8% | -$2.3M |
|
1160
PagerDuty
PD
$848M
| $29M | ﹤0.01% |
1,279,583
+592,236
| +86% | +$14.1M |
|
1161
Leggett & Platt
LEG
$1.34B
| $28.9M | ﹤0.01% |
1,511,151
+486,561
| +47% | +$10.6M |
|
1162
Global E Online
GLBE
$6.86B
| $28.8M | ﹤0.01% |
793,293
-43,833
| -5% | -$1.62M |
|
1163
Unifirst Corp
UNF
$5.23B
| $28.8M | ﹤0.01% |
165,910
+10,848
| +7% | +$1.84M |
|
1164
Spire
SR
$4.84B
| $28.7M | ﹤0.01% |
468,315
+74,644
| +19% | +$4.46M |
|
1165
Doximity
DOCS
$3.95B
| $28.4M | ﹤0.01% |
1,054,042
-229,677
| -18% | -$6.55M |
|
|
NSA
1166
DELISTED
National Storage Affiliates Trust
NSA
| $28.3M | ﹤0.01% |
723,711
-158,049
| -18% | -$5.94M |
|
1167
Relay Therapeutics
RLAY
$4.36B
| $28.2M | ﹤0.01% |
3,392,625
+323,652
| +11% | +$3.16M |
|
1168
Piper Sandler
PIPR
$5.17B
| $28.1M | ﹤0.01% |
565,960
+85,068
| +18% | +$3.89M |
|
1169
Acadia Pharmaceuticals
ACAD
$4.97B
| $28.1M | ﹤0.01% |
1,518,255
+75,037
| +5% | +$1.86M |
|
1170
Algonquin Power & Utilities
AQN
$4.46B
| $28M | ﹤0.01% |
4,436,361
-52,447
| -1% | -$318K |
|
1171
Organon & Co
OGN
$3.56B
| $27.9M | ﹤0.01% |
1,484,651
-340,656
| -19% | -$5.85M |
|
1172
Casella Waste Systems
CWST
$5.72B
| $27.9M | ﹤0.01% |
282,176
-11,596
| -4% | -$1.04M |
|
1173
Helen of Troy
HELE
$686M
| $27.9M | ﹤0.01% |
241,806
+15,169
| +7% | +$1.81M |
|
1174
Highwoods Properties
HIW
$3.56B
| $27.6M | ﹤0.01% |
1,053,447
-5,196
| -0.5% | -$123K |
|
1175
SL Green Realty
SLG
$3.87B
| $27.4M | ﹤0.01% |
497,270
+84,079
| +20% | +$3.98M |
|
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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.