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 | |
|---|---|---|---|---|---|---|
1776
CVRx
CVRX
$137M
| $1.27M | ﹤0.01% |
+69,900
| New | +$1.66M |
|
1777
Vir Biotechnology
VIR
$1.46B
| $1.26M | ﹤0.01% |
124,300
+92,387
| +289% | +$941K |
|
|
ATSG
1778
DELISTED
Air Transport Services Group
ATSG
| $1.26M | ﹤0.01% |
91,498
| – | – |
|
1779
Kenon Holdings
KEN
$3.51B
| $1.22M | ﹤0.01% |
46,803
| – | – |
|
1780
Century Aluminum
CENX
$4.43B
| $1.19M | ﹤0.01% |
77,037
| – | – |
|
|
MRC
1781
DELISTED
MRC Global
MRC
| $1.18M | ﹤0.01% |
94,000
| – | – |
|
|
OSG
1782
Octave Specialty Group
OSG
$243M
| $1.17M | ﹤0.01% |
75,000
| – | – |
|
1783
TTEC Holdings
TTEC
$121M
| $1.17M | ﹤0.01% |
112,493
-29,930
| -21% | -$501K |
|
1784
Bentley Systems
BSY
$10.8B
| $1.15M | ﹤0.01% |
22,003
-292,752
| -93% | -$14.7M |
|
|
ACLX
1785
DELISTED
Arcellx
ACLX
| $1.14M | ﹤0.01% |
+16,369
| New | +$1.04M |
|
1786
Metagenomi Therapeutics
MGX
$44.8M
| $1.14M | ﹤0.01% |
+107,892
| New | +$1.24M |
|
1787
NexGen Energy
NXE
$6.06B
| $1.12M | ﹤0.01% |
+144,496
| New | +$1.07M |
|
1788
ZipRecruiter
ZIP
$321M
| $1.11M | ﹤0.01% |
+96,900
| New | +$1.3M |
|
|
PGRU
1789
DELISTED
PropertyGuru Group Limited
PGRU
| $1.1M | ﹤0.01% |
290,000
| – | – |
|
1790
uniQure
QURE
$3.03B
| $1.08M | ﹤0.01% |
207,100
| – | – |
|
1791
OrthoPediatrics
KIDS
$519M
| $1.06M | ﹤0.01% |
36,300
-34,400
| -49% | -$962K |
|
1792
Outset Medical
OM
$84.7M
| $1.02M | ﹤0.01% |
30,760
| – | – |
|
1793
Adicet Bio
ACET
$85.2M
| $1.01M | ﹤0.01% |
26,847
| – | – |
|
|
BOLD
1794
Boundless Bio
BOLD
$56.2M
| $998K | ﹤0.01% |
+70,000
| New | +$998K |
|
1795
Kyverna Therapeutics
KYTX
$444M
| $994K | ﹤0.01% |
+40,000
| New | +$1.12M |
|
1796
Sinclair Inc
SBGI
$992M
| $989K | ﹤0.01% |
+73,421
| New | +$1.05M |
|
1797
Virgin Galactic
SPCE
$328M
| $964K | ﹤0.01% |
32,583
| – | – |
|
1798
Ardagh Metal Packaging
AMBP
$2.83B
| $947K | ﹤0.01% |
275,980
-312,260
| -53% | -$1.12M |
|
|
CVAC
1799
DELISTED
CureVac
CVAC
| $935K | ﹤0.01% |
308,675
| – | – |
|
|
SRDX
1800
DELISTED
Surmodics
SRDX
| $927K | ﹤0.01% |
31,600
| – | – |
|
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.