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 |
NVIDIA
NVDA
|
+$4.27B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$2.85B |
| 3 |
Microsoft
MSFT
|
+$2.65B |
| 4 |
Meta Platforms (Facebook)
META
|
+$2.37B |
| 5 |
Broadcom
AVGO
|
+$1.63B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T-Mobile US
TMUS
|
+$570M |
| 2 |
Bank of America
BAC
|
+$486M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$438M |
| 4 |
Alibaba
BABA
|
+$361M |
| 5 |
IBM
IBM
|
+$336M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.05% |
| 2 | Financials | 14.2% |
| 3 | Consumer Discretionary | 11.56% |
| 4 | Healthcare | 10.01% |
| 5 | Communication Services | 9.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
Viking Therapeutics
VKTX
$3.91B
| $51.5M | 0.01% |
1,278,928
+8,587
| +0.7% | +$490K |
|
952
Southwest Gas
SWX
$6.56B
| $51M | 0.01% |
721,413
+93,908
| +15% | +$6.98M |
|
953
Campbell Soup
CPB
$6.87B
| $50.9M | 0.01% |
1,215,574
-532,106
| -30% | -$24M |
|
|
EXAS
954
DELISTED
Exact Sciences
EXAS
| $50.6M | 0.01% |
900,961
+220,184
| +32% | +$13.7M |
|
|
SEE
955
DELISTED
Sealed Air
SEE
| $50.6M | 0.01% |
1,494,596
-652,823
| -30% | -$23.3M |
|
956
Avient
AVNT
$3.48B
| $50.5M | 0.01% |
1,237,113
+151,600
| +14% | +$7.34M |
|
957
Assured Guaranty
AGO
$3.66B
| $50.4M | 0.01% |
560,456
-10,702
| -2% | -$937K |
|
|
ALTM
958
DELISTED
Arcadium Lithium plc
ALTM
| $50.4M | 0.01% |
9,820,313
+112,583
| +1% | +$575K |
|
959
Hudbay
HBM
$11.5B
| $50.3M | 0.01% |
6,204,757
+400,000
| +7% | +$3.59M |
|
960
FNB Corp
FNB
$6.84B
| $50.2M | 0.01% |
3,396,809
+202,651
| +6% | +$3.11M |
|
|
CCC
961
CCC Intelligent Solutions
CCC
$3.8B
| $50M | 0.01% |
4,265,287
-1,290,420
| -23% | -$14.9M |
|
962
FMC
FMC
$1.35B
| $49.9M | 0.01% |
1,026,300
+715,650
| +230% | +$41.8M |
|
963
KB Home
KBH
$3.61B
| $49.6M | 0.01% |
755,297
+80,305
| +12% | +$6.25M |
|
964
Lyft
LYFT
$6.26B
| $49.6M | 0.01% |
3,844,869
+334,989
| +10% | +$4.97M |
|
|
SNRE
965
DELISTED
Sunrise Communications AG American Depositary Shares representing Class A shares
SNRE
| $49.5M | 0.01% |
+1,149,987
| New | +$52.6M |
|
966
Liberty Live Group Series C
LLYVK
$9.54B
| $49.5M | 0.01% |
726,685
+14,385
| +2% | +$914K |
|
|
AL
967
DELISTED
Air Lease Corp
AL
| $49.4M | 0.01% |
1,025,002
-81,188
| -7% | -$3.83M |
|
968
EnerSys
ENS
$6.92B
| $49.2M | 0.01% |
532,538
-54,286
| -9% | -$5.28M |
|
969
Sabra Healthcare REIT
SBRA
$5.32B
| $48.9M | 0.01% |
2,826,193
+46,652
| +2% | +$852K |
|
970
Agree Realty
ADC
$9.46B
| $48.9M | 0.01% |
693,570
+60,055
| +9% | +$4.47M |
|
971
Jack Henry & Associates
JKHY
$11B
| $48.8M | 0.01% |
278,575
+75,482
| +37% | +$13.5M |
|
972
Sanmina
SANM
$10.7B
| $48.8M | 0.01% |
645,213
-302,395
| -32% | -$22.6M |
|
973
Sensata Technologies
ST
$6.93B
| $48.6M | 0.01% |
+1,773,000
| New | +$57.6M |
|
974
Novanta
NOVT
$5.45B
| $48.4M | 0.01% |
317,092
+3,371
| +1% | +$571K |
|
975
Liberty Global Class A
LBTYA
$3.61B
| $48.4M | 0.01% |
3,791,590
| – | – |
|
Similar funds
Norges Bank's Q4 2024 Portfolio in Review
As of Q4 2024, Norges Bank held 1,937 positions worth $762B, up 6.4% from $716B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Norges Bank deployed $33.5B of net new capital in Q4 2024, opening 98 new positions and adding to 915 existing holdings. Its largest new stake was StandardAero Inc: 5,025,103 shares worth $124M.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was T-Mobile US, an estimated $570M trimmed.
- Norges Bank's largest Q4 2024 buy was StandardAero Inc: 5,025,103 shares worth $124M.
- Norges Bank added most to NVIDIA in Q4 2024, an estimated $4.27B increase.
- Norges Bank's biggest Q4 2024 reduction was T-Mobile US, cutting an estimated $570M.
- Norges Bank fully exited CATALENT, INC. in Q4 2024, selling an estimated $290M.
- Norges Bank's ten largest holdings make up 33% of its $762B portfolio in Q4 2024.
- Norges Bank opened 98 new positions and closed 92 in Q4 2024.
- Norges Bank's portfolio value rose 6.4% quarter-over-quarter to $762B.
Based on Norges Bank's 13F filing for Q4 2024, filed 12 Feb 2025.