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 | |
|---|---|---|---|---|---|---|
776
Moderna
MRNA
$57B
| $77.6M | 0.01% |
2,738,540
-1,201,654
| -30% | -$42.6M |
|
777
Popular Inc
BPOP
$10.8B
| $77.5M | 0.01% |
838,986
-9,856
| -1% | -$959K |
|
778
MACOM Technology Solutions
MTSI
$21.2B
| $77.3M | 0.01% |
770,377
+132,761
| +21% | +$16.2M |
|
779
Simpson Manufacturing
SSD
$7.48B
| $77.3M | 0.01% |
492,235
+47,457
| +11% | +$7.79M |
|
780
TFI International
TFII
$11.2B
| $77.3M | 0.01% |
997,676
-151,792
| -13% | -$16.8M |
|
781
Norwegian Cruise Line
NCLH
$7.65B
| $77.2M | 0.01% |
4,071,294
-326,545
| -7% | -$7.86M |
|
782
Healthcare Realty
HR
$6.56B
| $77.1M | 0.01% |
4,560,384
+27,927
| +0.6% | +$464K |
|
783
Hanover Insurance
THG
$7.93B
| $77.1M | 0.01% |
443,007
+3,799
| +0.9% | +$615K |
|
784
Ally Financial
ALLY
$13B
| $76.9M | 0.01% |
2,108,531
+12,350
| +0.6% | +$455K |
|
785
OGE Energy
OGE
$9.51B
| $76.7M | 0.01% |
1,669,722
| – | – |
|
786
Verra Mobility
VRRM
$670M
| $76.5M | 0.01% |
3,398,044
+1,489,197
| +78% | +$35.9M |
|
787
Essential Properties Realty Trust
EPRT
$6.57B
| $76.5M | 0.01% |
2,342,671
-321,676
| -12% | -$10.2M |
|
788
ATI
ATI
$29.2B
| $76.4M | 0.01% |
1,469,212
-75,968
| -5% | -$4.31M |
|
|
HEES
789
DELISTED
H&E Equipment Services
HEES
| $76.4M | 0.01% |
805,793
+701,402
| +672% | +$61M |
|
790
Procore
PCOR
$9.68B
| $76.1M | 0.01% |
1,152,902
| – | – |
|
791
Sarepta Therapeutics
SRPT
$2.28B
| $76.1M | 0.01% |
1,192,398
+153,537
| +15% | +$16.2M |
|
792
Rogers Corp
ROG
$2.31B
| $75.6M | 0.01% |
1,119,229
| – | – |
|
793
Antero Midstream
AM
$10.7B
| $75.6M | 0.01% |
4,198,593
+51,578
| +1% | +$854K |
|
794
Universal Health Services
UHS
$10.2B
| $75.5M | 0.01% |
401,544
+22,744
| +6% | +$4.15M |
|
795
Teleflex
TFX
$5.84B
| $75.4M | 0.01% |
545,471
-18,230
| -3% | -$2.95M |
|
796
Lattice Semiconductor
LSCC
$17.1B
| $75.3M | 0.01% |
1,436,444
-128,847
| -8% | -$7.67M |
|
797
Prosperity Bancshares
PB
$8.74B
| $74.8M | 0.01% |
1,048,094
+132,551
| +14% | +$10M |
|
798
West Fraser Timber
WFG
$5.4B
| $74.7M | 0.01% |
972,818
+29,784
| +3% | +$2.45M |
|
799
Generac Holdings
GNRC
$11.6B
| $74.7M | 0.01% |
589,675
+3,331
| +0.6% | +$478K |
|
800
Essent Group
ESNT
$6.23B
| $74.2M | 0.01% |
1,285,788
+11,656
| +0.9% | +$661K |
|
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.