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 A
GOOGL
|
+$2.32B |
| 2 |
Apple
AAPL
|
+$2.24B |
| 3 |
Microsoft
MSFT
|
+$1.26B |
| 4 |
Amazon
AMZN
|
+$1.21B |
| 5 |
ExxonMobil
XOM
|
+$882M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.69B |
| 2 |
Palo Alto Networks
PANW
|
+$614M |
| 3 |
Booking.com
BKNG
|
+$591M |
| 4 |
Equinix
EQIX
|
+$417M |
| 5 |
Micron Technology
MU
|
+$324M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.28% |
| 2 | Financials | 13.68% |
| 3 | Healthcare | 11.64% |
| 4 | Consumer Discretionary | 10.49% |
| 5 | Communication Services | 8.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Enbridge
ENB
$113B
| $739M | 0.11% |
20,763,459
+495,568
| +2% | +$17.7M |
|
177
O'Reilly Automotive
ORLY
$76.3B
| $738M | 0.11% |
10,476,000
+233,850
| +2% | +$16.2M |
|
178
Blackstone
BX
$109B
| $733M | 0.11% |
5,921,779
+1,233,764
| +26% | +$152M |
|
179
Federal Realty Investment Trust
FRT
$10.5B
| $730M | 0.11% |
7,228,715
+13,245
| +0.2% | +$1.34M |
|
180
Bank of Montreal
BMO
$127B
| $725M | 0.11% |
8,635,939
+1,273,567
| +17% | +$116M |
|
181
Scotiabank
BNS
$108B
| $711M | 0.11% |
15,544,282
+1,148,115
| +8% | +$54.4M |
|
182
Canadian National Railway
CNI
$77.1B
| $702M | 0.1% |
5,941,214
-167,057
| -3% | -$20.9M |
|
183
Valero Energy
VLO
$87.1B
| $702M | 0.1% |
4,479,055
-6,915
| -0.2% | -$1.12M |
|
|
WCN
184
Waste Connections
WCN
$41.5B
| $702M | 0.1% |
3,999,560
+48,183
| +1% | +$8.05M |
|
185
Otis Worldwide
OTIS
$27.8B
| $700M | 0.1% |
7,272,798
+279,355
| +4% | +$26.9M |
|
186
Flutter Entertainment
FLUT
$16.1B
| $700M | 0.1% |
3,827,648
-290,278
| -7% | -$55.8M |
|
187
Newmont
NEM
$110B
| $694M | 0.1% |
16,587,209
+1,818,497
| +12% | +$74.4M |
|
188
Howmet Aerospace
HWM
$117B
| $691M | 0.1% |
8,905,560
-1,011,640
| -10% | -$76.6M |
|
189
Constellation Energy
CEG
$94.7B
| $674M | 0.1% |
3,366,958
+194,791
| +6% | +$39.7M |
|
190
Brookfield
BN
$109B
| $669M | 0.1% |
24,136,686
+103,637
| +0.4% | +$2.89M |
|
191
Realty Income
O
$58.5B
| $661M | 0.1% |
12,519,236
+801,346
| +7% | +$42.8M |
|
192
Ametek
AME
$58.4B
| $660M | 0.1% |
3,961,700
+256,952
| +7% | +$44.4M |
|
193
Autodesk
ADSK
$50.7B
| $654M | 0.1% |
2,641,490
+5,706
| +0.2% | +$1.28M |
|
194
Baker Hughes
BKR
$61.2B
| $645M | 0.1% |
18,325,740
+2,167,005
| +13% | +$71.1M |
|
195
Weyerhaeuser
WY
$18.6B
| $638M | 0.1% |
22,489,760
+29,800
| +0.1% | +$922K |
|
196
Ameriprise Financial
AMP
$49.6B
| $633M | 0.09% |
1,482,504
+90,019
| +6% | +$38.5M |
|
197
General Motors
GM
$78.2B
| $632M | 0.09% |
13,609,569
+1,511,713
| +12% | +$68.2M |
|
198
Equitable Holdings
EQH
$14B
| $631M | 0.09% |
15,434,509
-1,532,918
| -9% | -$60.1M |
|
199
PayPal
PYPL
$49.6B
| $623M | 0.09% |
10,739,392
-1,781,365
| -14% | -$113M |
|
200
Microchip Technology
MCHP
$42.2B
| $622M | 0.09% |
6,795,019
-929,759
| -12% | -$85.1M |
|
Similar funds
Norges Bank's Q2 2024 Portfolio in Review
As of Q2 2024, Norges Bank held 2,011 positions worth $669B, up 5.6% from $634B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Norges Bank's Q2 2024 filing shows 126 new, 838 increased, 818 reduced and 81 closed positions. Its largest new stake was Ferrovial N.V. Ordinary Shares: 12,011,984 shares worth $462M. The largest sale was Alphabet (Google) Class C, an estimated $1.69B.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 28% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q2 2024 buy was Ferrovial N.V. Ordinary Shares: 12,011,984 shares worth $462M.
- Norges Bank added most to Alphabet (Google) Class A in Q2 2024, an estimated $2.32B increase.
- Norges Bank's biggest Q2 2024 reduction was Alphabet (Google) Class C, cutting an estimated $1.69B.
- Norges Bank fully exited Shockwave Medical, Inc. Common Stock in Q2 2024, selling an estimated $168M.
- Norges Bank's ten largest holdings make up 31% of its $669B portfolio in Q2 2024.
- Norges Bank opened 126 new positions and closed 81 in Q2 2024.
- Norges Bank's portfolio value rose 5.6% quarter-over-quarter to $669B.
Based on Norges Bank's 13F filing for Q2 2024, filed 14 Aug 2024.