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 | |
|---|---|---|---|---|---|---|
151
Parker-Hannifin
PH
$123B
| $846M | 0.13% |
1,521,881
+78,017
| +5% | +$39.6M |
|
152
KKR & Co
KKR
$91.1B
| $844M | 0.13% |
8,389,904
+546,838
| +7% | +$50.3M |
|
153
Public Storage
PSA
$60.5B
| $842M | 0.13% |
2,903,040
+210,742
| +8% | +$60.4M |
|
154
Sea Limited
SE
$65.4B
| $839M | 0.13% |
15,626,861
-181,007
| -1% | -$8.33M |
|
155
PayPal
PYPL
$48.9B
| $839M | 0.13% |
12,520,757
+314,916
| +3% | +$19.3M |
|
156
Roper Technologies
ROP
$38.8B
| $837M | 0.13% |
1,493,047
+106,000
| +8% | +$57.8M |
|
157
Pinduoduo
PDD
$126B
| $830M | 0.13% |
7,138,720
-209,872
| -3% | -$27.5M |
|
158
Boston Properties
BXP
$11.2B
| $829M | 0.13% |
12,695,570
| – | – |
|
159
FedEx
FDX
$72.7B
| $828M | 0.13% |
2,858,225
+89,950
| +3% | +$22.5M |
|
160
General Dynamics
GD
$104B
| $821M | 0.13% |
2,906,578
+101,927
| +4% | +$27.3M |
|
|
161
Flutter Entertainment
FLUT
$18.1B
| $820M | 0.13% |
+4,117,926
| New | +$879M |
|
162
Colgate-Palmolive
CL
$73.1B
| $816M | 0.13% |
9,066,104
-115,211
| -1% | -$9.76M |
|
163
NXP Semiconductors
NXPI
$57.8B
| $812M | 0.13% |
3,279,101
-38,892
| -1% | -$8.98M |
|
164
American Homes 4 Rent
AMH
$12B
| $808M | 0.13% |
21,967,376
| – | – |
|
165
Weyerhaeuser
WY
$18B
| $807M | 0.13% |
22,459,960
+789,053
| +4% | +$26.7M |
|
166
Canadian National Railway
CNI
$76.9B
| $805M | 0.13% |
6,108,271
-14,083
| -0.2% | -$1.8M |
|
167
Edwards Lifesciences
EW
$49.6B
| $802M | 0.13% |
8,393,894
-111,552
| -1% | -$9.37M |
|
168
AutoZone
AZO
$49.2B
| $799M | 0.13% |
253,393
-8,963
| -3% | -$25.6M |
|
169
O'Reilly Automotive
ORLY
$72.9B
| $771M | 0.12% |
10,242,150
-357,765
| -3% | -$25M |
|
170
Apollo Global Management
APO
$72.4B
| $766M | 0.12% |
6,813,355
+524,956
| +8% | +$55.4M |
|
171
Valero Energy
VLO
$90.1B
| $766M | 0.12% |
4,485,970
+98,064
| +2% | +$14.1M |
|
172
Arista Networks
ANET
$227B
| $762M | 0.12% |
10,515,592
+561,852
| +6% | +$37.9M |
|
173
Ferrari
RACE
$69.2B
| $754M | 0.12% |
1,728,972
+30,012
| +2% | +$11.6M |
|
174
Scotiabank
BNS
$107B
| $745M | 0.12% |
14,396,167
+994,068
| +7% | +$47.6M |
|
175
Moody's
MCO
$82.8B
| $738M | 0.12% |
1,877,638
+32,846
| +2% | +$12.7M |
|
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.