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 | |
|---|---|---|---|---|---|---|
1051
Goodyear
GT
$1.99B
| $39.6M | 0.01% |
4,402,933
-2,792,596
| -39% | -$25.5M |
|
1052
Albemarle
ALB
$14B
| $39.4M | 0.01% |
457,770
-484,551
| -51% | -$48.3M |
|
1053
Futu Holdings
FUTU
$15.5B
| $39.2M | 0.01% |
489,600
-369,900
| -43% | -$34.6M |
|
1054
Albany International
AIN
$1.75B
| $39M | 0.01% |
488,237
+58,544
| +14% | +$4.6M |
|
1055
Global E Online
GLBE
$6.98B
| $38.9M | 0.01% |
712,904
+16,219
| +2% | +$734K |
|
|
PPLI
1056
People Inc
PPLI
$3.28B
| $38.8M | 0.01% |
1,096,835
| – | – |
|
1057
Cushman & Wakefield Ltd
CWK
$3.29B
| $38.7M | 0.01% |
2,960,270
-40,678
| -1% | -$565K |
|
1058
Floor & Decor
FND
$6.68B
| $38.7M | 0.01% |
388,339
-28,911
| -7% | -$3.11M |
|
|
GRP.U
1059
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $38.7M | 0.01% |
798,627
+25,270
| +3% | +$1.35M |
|
1060
Silgan Holdings
SLGN
$4.51B
| $38.7M | 0.01% |
743,135
-117,400
| -14% | -$6.26M |
|
1061
Arrowhead Research
ARWR
$12.2B
| $38.6M | 0.01% |
2,054,364
+9,702
| +0.5% | +$200K |
|
1062
Teva Pharmaceuticals
TEVA
$40.5B
| $38.5M | 0.01% |
1,749,070
+233,000
| +15% | +$4.24M |
|
1063
AutoNation
AN
$7.13B
| $38.1M | 0.01% |
224,540
+136,059
| +154% | +$23M |
|
1064
Envista
NVST
$4.66B
| $38.1M | 0.01% |
1,972,618
-18,393
| -0.9% | -$364K |
|
1065
Fulton Financial
FULT
$4.73B
| $38M | 0.01% |
1,971,480
+245,644
| +14% | +$4.81M |
|
1066
PennyMac Financial
PFSI
$3.94B
| $38M | 0.01% |
372,074
| – | – |
|
1067
California Water Service
CWT
$3.08B
| $38M | 0.01% |
838,261
+274,717
| +49% | +$13.9M |
|
1068
Cabot Corp
CBT
$4.36B
| $38M | 0.01% |
415,741
+69,019
| +20% | +$7.42M |
|
|
ALTR
1069
DELISTED
Altair Engineering Inc
ALTR
| $37.9M | 0.01% |
347,348
+288,766
| +493% | +$29.8M |
|
1070
AeroVironment
AVAV
$8.51B
| $37.5M | ﹤0.01% |
243,694
-12,279
| -5% | -$2.4M |
|
1071
Huntsman Corp
HUN
$1.78B
| $37.5M | ﹤0.01% |
2,077,866
-247,730
| -11% | -$5.16M |
|
1072
Eastern Bankshares
EBC
$5.31B
| $37.2M | ﹤0.01% |
2,156,313
+235,692
| +12% | +$4.12M |
|
1073
Newell Brands
NWL
$2.63B
| $37.2M | ﹤0.01% |
3,732,324
-1,101,944
| -23% | -$10M |
|
1074
Brighthouse Financial
BHF
$3.55B
| $37.1M | ﹤0.01% |
772,925
+38,420
| +5% | +$1.88M |
|
1075
Yeti Holdings
YETI
$3.98B
| $36.8M | ﹤0.01% |
955,030
+369,831
| +63% | +$14.7M |
|
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.