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 | |
|---|---|---|---|---|---|---|
826
New Jersey Resources
NJR
$5.46B
| $67.2M | 0.01% |
1,369,842
-197,669
| -13% | -$9.37M |
|
827
Colliers International
CIGI
$5.26B
| $67.2M | 0.01% |
554,770
+5,478
| +1% | +$718K |
|
828
Commercial Metals
CMC
$7.61B
| $67M | 0.01% |
1,455,503
+59,113
| +4% | +$2.88M |
|
829
Asbury Automotive
ABG
$3.78B
| $66.6M | 0.01% |
301,789
-35,944
| -11% | -$9.38M |
|
|
CADE
830
DELISTED
Cadence Bank
CADE
| $66.6M | 0.01% |
2,193,791
+106,264
| +5% | +$3.52M |
|
831
ASML
ASML
$666B
| $66.5M | 0.01% |
+100,411
| New | +$73M |
|
832
Charles River Laboratories
CRL
$14.2B
| $65.9M | 0.01% |
437,806
-97,871
| -18% | -$16.4M |
|
833
SharkNinja
SN
$27.2B
| $65.6M | 0.01% |
786,082
-249,711
| -24% | -$25.4M |
|
834
Donaldson
DCI
$10.7B
| $65.5M | 0.01% |
977,403
| – | – |
|
835
Selective Insurance
SIGI
$5.5B
| $65M | 0.01% |
709,866
-288,948
| -29% | -$25.3M |
|
836
Mattel
MAT
$4.26B
| $64.9M | 0.01% |
3,338,706
+240,645
| +8% | +$4.77M |
|
837
Stride
LRN
$3.55B
| $64.9M | 0.01% |
512,784
+76,859
| +18% | +$9.71M |
|
838
SPS Commerce
SPSC
$3.03B
| $64.5M | 0.01% |
485,984
+42,793
| +10% | +$6.73M |
|
|
PARA
839
DELISTED
Paramount Global Class B
PARA
| $64.5M | 0.01% |
5,390,227
+1,068,813
| +25% | +$12M |
|
840
Glaukos
GKOS
$10.7B
| $64.5M | 0.01% |
654,931
+91,438
| +16% | +$12.2M |
|
841
Mine Safety
MSA
$7.39B
| $64.3M | 0.01% |
438,520
| – | – |
|
842
GATX Corp
GATX
$6.3B
| $64.3M | 0.01% |
413,952
+55,823
| +16% | +$8.89M |
|
843
Watts Water Technologies
WTS
$12.4B
| $63.8M | 0.01% |
312,938
+13,444
| +4% | +$2.82M |
|
844
Celsius Holdings
CELH
$8.35B
| $63.8M | 0.01% |
1,790,265
-965,209
| -35% | -$26.3M |
|
845
InterDigital
IDCC
$8.64B
| $63.5M | 0.01% |
306,993
+217,242
| +242% | +$43.7M |
|
846
Badger Meter
BMI
$4B
| $63.4M | 0.01% |
333,268
-112,455
| -25% | -$23.5M |
|
847
Alkermes
ALKS
$8.2B
| $63.3M | 0.01% |
1,916,546
-54,395
| -3% | -$1.77M |
|
848
Valmont Industries
VMI
$9.28B
| $63.2M | 0.01% |
221,623
+468
| +0.2% | +$153K |
|
849
BorgWarner
BWA
$13.2B
| $62.7M | 0.01% |
2,188,644
+232,676
| +12% | +$7.06M |
|
850
Kite Realty
KRG
$5.21B
| $62.7M | 0.01% |
2,802,069
-816,602
| -23% | -$18.7M |
|
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.