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
|
+$1.31B |
| 2 |
Visa
V
|
+$778M |
| 3 |
SCHW
Charles Schwab
SCHW
|
+$528M |
| 4 |
Fortinet
FTNT
|
+$418M |
| 5 |
Prologis
PLD
|
+$340M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$2.06B |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$1.83B |
| 3 |
NVIDIA
NVDA
|
+$1.56B |
| 4 |
Meta Platforms (Facebook)
META
|
+$1.47B |
| 5 |
UBS Group
UBS
|
+$1.44B |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.04% |
| 2 | Financials | 15.62% |
| 3 | Healthcare | 11.22% |
| 4 | Consumer Discretionary | 10.85% |
| 5 | Communication Services | 9.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PRMB
751
Primo Brands
PRMB
$8.12B
| $82.4M | 0.01% |
2,322,407
+1,721,175
| +286% | +$56.2M |
|
|
AMED
752
DELISTED
Amedisys
AMED
| $82.4M | 0.01% |
889,393
-25,471
| -3% | -$2.35M |
|
753
Globus Medical
GMED
$11.1B
| $82.4M | 0.01% |
1,125,008
-290,805
| -21% | -$24M |
|
754
Incyte
INCY
$25.9B
| $82.1M | 0.01% |
1,356,677
-408,048
| -23% | -$28.5M |
|
755
Macy's
M
$5.92B
| $82M | 0.01% |
6,529,929
+818,847
| +14% | +$11.9M |
|
756
RLI Corp
RLI
$5.89B
| $81.9M | 0.01% |
1,019,884
+43,414
| +4% | +$3.3M |
|
757
FIVE9
FIVN
$2.58B
| $81.5M | 0.01% |
3,000,000
+1,000,000
| +50% | +$36.7M |
|
758
Flowserve
FLS
$10.4B
| $81.4M | 0.01% |
1,666,339
+21,196
| +1% | +$1.2M |
|
759
Bright Horizons
BFAM
$3.62B
| $80.9M | 0.01% |
636,471
-11,633
| -2% | -$1.43M |
|
760
Samsara
IOT
$24.4B
| $80.8M | 0.01% |
2,107,489
-324,977
| -13% | -$15.1M |
|
761
Oshkosh
OSK
$9.68B
| $80.7M | 0.01% |
858,057
+93,442
| +12% | +$9.35M |
|
|
SNV
762
DELISTED
Synovus
SNV
| $80.7M | 0.01% |
1,726,509
+219,413
| +15% | +$11.3M |
|
763
Fortune Brands Innovations
FBIN
$5.41B
| $80.6M | 0.01% |
1,324,260
-155,642
| -11% | -$10.5M |
|
764
Option Care Health
OPCH
$3.59B
| $80.4M | 0.01% |
2,299,873
-295,767
| -11% | -$9.29M |
|
765
Tencent Music
TME
$14.2B
| $80.2M | 0.01% |
5,568,843
-3,201,102
| -37% | -$40M |
|
766
Brown-Forman Class B
BF.B
$12.5B
| $80.2M | 0.01% |
2,362,373
+42,239
| +2% | +$1.42M |
|
767
Brinker International
EAT
$10B
| $80M | 0.01% |
536,639
+373,748
| +229% | +$57.5M |
|
768
Graphic Packaging
GPK
$3.35B
| $80M | 0.01% |
3,079,983
-538,122
| -15% | -$14.4M |
|
769
Old National Bancorp
ONB
$9.89B
| $79.4M | 0.01% |
3,748,780
+215,756
| +6% | +$4.86M |
|
770
Liberty Media Series A
FWONA
$23.6B
| $79.4M | 0.01% |
974,534
| – | – |
|
771
SPX Corp
SPXC
$10.3B
| $78.9M | 0.01% |
612,488
-26,862
| -4% | -$3.85M |
|
772
ESAB
ESAB
$4.91B
| $78.9M | 0.01% |
677,000
| – | – |
|
773
Maplebear
CART
$11.7B
| $78M | 0.01% |
1,955,590
-341,907
| -15% | -$15.2M |
|
774
SLM Corp
SLM
$5.03B
| $78M | 0.01% |
2,654,551
+167,121
| +7% | +$4.89M |
|
|
SAIL
775
SailPoint Inc
SAIL
$11.6B
| $77.9M | 0.01% |
+4,153,444
| New | +$90.5M |
|
Similar funds
Norges Bank's Q1 2025 Portfolio in Review
As of Q1 2025, Norges Bank held 1,892 positions worth $712B, down 6.5% from $762B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Norges Bank's Q1 2025 filing shows 47 new, 694 increased, 865 reduced and 149 closed positions. Its largest new stake was Rocket Lab Corp: 4,017,216 shares worth $71.8M. The largest sale was Microsoft, an estimated $2.06B.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 31% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2025 buy was Rocket Lab Corp: 4,017,216 shares worth $71.8M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2025, an estimated $1.31B increase.
- Norges Bank's biggest Q1 2025 reduction was Microsoft, cutting an estimated $2.06B.
- Norges Bank fully exited HashiCorp, Inc. Class A Common Stock in Q1 2025, selling an estimated $161M.
- Norges Bank's ten largest holdings make up 30% of its $712B portfolio in Q1 2025.
- Norges Bank opened 47 new positions and closed 149 in Q1 2025.
- Norges Bank's portfolio value fell 6.5% quarter-over-quarter to $712B.
Based on Norges Bank's 13F filing for Q1 2025, filed 13 May 2025.