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 | |
|---|---|---|---|---|---|---|
|
1
Microsoft
MSFT
$3.64T
| $43.4B | 6.48% |
97,071,282
+2,988,739
| +3% | +$1.26B |
|
|
2
Apple
AAPL
$4.51T
| $37.4B | 5.59% |
177,534,454
+12,015,713
| +7% | +$2.24B |
|
3
NVIDIA
NVDA
$5.33T
| $36B | 5.38% |
291,727,360
+2,214,520
| +0.8% | +$224M |
|
|
4
Amazon
AMZN
$2.99T
| $23B | 3.43% |
118,955,512
+6,594,642
| +6% | +$1.21B |
|
|
5
Alphabet (Google) Class A
GOOGL
$4.67T
| $19.6B | 2.92% |
107,481,872
+13,771,351
| +15% | +$2.32B |
|
6
Meta Platforms (Facebook)
META
$1.51T
| $15.4B | 2.29% |
30,461,739
-326,314
| -1% | -$159M |
|
7
Eli Lilly
LLY
$1.04T
| $9.96B | 1.49% |
11,004,852
+288,833
| +3% | +$231M |
|
8
Broadcom
AVGO
$2T
| $9.29B | 1.39% |
57,868,040
+3,606,210
| +7% | +$505M |
|
9
JPMorgan Chase
JPM
$959B
| $7.49B | 1.12% |
37,055,325
+314,524
| +0.9% | +$61.5M |
|
|
10
ExxonMobil
XOM
$629B
| $7.4B | 1.11% |
64,291,477
+7,571,783
| +13% | +$882M |
|
11
Tesla
TSLA
$1.28T
| $6.1B | 0.91% |
30,831,666
-995,402
| -3% | -$174M |
|
12
UnitedHealth
UNH
$372B
| $5.96B | 0.89% |
11,710,175
-281,789
| -2% | -$138M |
|
|
13
Alphabet (Google) Class C
GOOG
$4.64T
| $5.04B | 0.75% |
27,452,243
-9,918,339
| -27% | -$1.69B |
|
14
Mastercard
MA
$502B
| $5.03B | 0.75% |
11,400,107
+241,768
| +2% | +$110M |
|
15
Procter & Gamble
PG
$342B
| $5.02B | 0.75% |
30,449,082
+1,219,476
| +4% | +$199M |
|
16
UBS Group
UBS
$176B
| $4.95B | 0.74% |
168,288,869
+2,261,571
| +1% | +$67.2M |
|
17
Bank of America
BAC
$443B
| $4.89B | 0.73% |
122,915,003
+2,149,013
| +2% | +$82.4M |
|
18
Walmart Inc
WMT
$900B
| $4.7B | 0.7% |
69,395,400
-223,479
| -0.3% | -$14.1M |
|
19
Costco
COST
$419B
| $4.52B | 0.67% |
5,313,432
+120,031
| +2% | +$93.7M |
|
20
Berkshire Hathaway Class A
BRK.A
$1.11T
| $4.4B | 0.66% |
7,186
+1,180
| +20% | +$727M |
|
|
21
Berkshire Hathaway Class B
BRK.B
$1.11T
| $4.34B | 0.65% |
10,673,297
-179,465
| -2% | -$73.3M |
|
22
Johnson & Johnson
JNJ
$621B
| $4.25B | 0.64% |
29,092,369
+603,587
| +2% | +$89.8M |
|
23
Merck
MRK
$323B
| $4.19B | 0.63% |
33,806,976
+3,873,023
| +13% | +$499M |
|
24
Home Depot
HD
$352B
| $4.14B | 0.62% |
12,022,399
+228,207
| +2% | +$77.8M |
|
25
Visa
V
$690B
| $3.89B | 0.58% |
14,807,213
+103,854
| +0.7% | +$28.5M |
|
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.