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 | |
|---|---|---|---|---|---|---|
|
LIF
1126
Life360
LIF
$3.61B
| $28.3M | ﹤0.01% |
+737,590
| New | +$31.8M |
|
1127
RadNet
RDNT
$5.93B
| $28.2M | ﹤0.01% |
567,856
-239,433
| -30% | -$14.2M |
|
1128
BrightSpring Health Services
BTSG
$12B
| $28.2M | ﹤0.01% |
1,559,670
+29,114
| +2% | +$572K |
|
|
NSA
1129
DELISTED
National Storage Affiliates Trust
NSA
| $27.8M | ﹤0.01% |
705,263
| – | – |
|
1130
Leonardo DRS
DRS
$10.4B
| $27.6M | ﹤0.01% |
839,456
+68,189
| +9% | +$2.25M |
|
1131
Harley-Davidson
HOG
$2.9B
| $27.4M | ﹤0.01% |
1,085,375
+719,956
| +197% | +$19.3M |
|
1132
Wendy's
WEN
$1.49B
| $27.4M | ﹤0.01% |
1,872,016
+1,607,105
| +607% | +$24.2M |
|
1133
StoneCo
STNE
$2.2B
| $27.4M | ﹤0.01% |
2,613,190
-227,710
| -8% | -$2.15M |
|
1134
Pentair
PNR
$9.91B
| $27.1M | ﹤0.01% |
309,855
-53,496
| -15% | -$5.1M |
|
|
PPLI
1135
People Inc
PPLI
$2.93B
| $27.1M | ﹤0.01% |
718,783
-378,052
| -34% | -$13.8M |
|
1136
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$5.17B
| $27M | ﹤0.01% |
923,068
-215,827
| -19% | -$6.11M |
|
1137
Columbia Sportswear
COLM
$2.91B
| $27M | ﹤0.01% |
356,123
+49,800
| +16% | +$4.15M |
|
|
MRP
1138
Millrose Properties Inc
MRP
$5.06B
| $26.9M | ﹤0.01% |
+1,014,765
| New | +$23.8M |
|
1139
BancFirst
BANF
$3.71B
| $26.9M | ﹤0.01% |
244,569
+17,151
| +8% | +$1.99M |
|
1140
ScottsMiracle-Gro
SMG
$3.53B
| $26.7M | ﹤0.01% |
486,386
+340,404
| +233% | +$22M |
|
1141
Albemarle
ALB
$16B
| $26.7M | ﹤0.01% |
370,389
-87,381
| -19% | -$7.11M |
|
1142
Installed Building Products
IBP
$6.4B
| $26.6M | ﹤0.01% |
155,182
-7,495
| -5% | -$1.35M |
|
1143
Penske Automotive Group
PAG
$14.3B
| $26.5M | ﹤0.01% |
183,732
+39,089
| +27% | +$6.26M |
|
1144
BOK Financial
BOKF
$8.4B
| $26.4M | ﹤0.01% |
253,651
+32,736
| +15% | +$3.52M |
|
1145
CVB Financial
CVBF
$3.92B
| $26.4M | ﹤0.01% |
1,431,021
+136,106
| +11% | +$2.71M |
|
|
FOLD
1146
DELISTED
Amicus Therapeutics
FOLD
| $26.4M | ﹤0.01% |
3,235,538
+153,502
| +5% | +$1.42M |
|
1147
Modine Manufacturing
MOD
$9.9B
| $26.4M | ﹤0.01% |
343,657
+71,166
| +26% | +$7.01M |
|
1148
Crane NXT
CXT
$2.86B
| $26.3M | ﹤0.01% |
512,110
+52,570
| +11% | +$3.08M |
|
1149
Zeta Global
ZETA
$7.59B
| $26.2M | ﹤0.01% |
1,932,436
-470,878
| -20% | -$8.41M |
|
1150
Telephone and Data Systems
TDS
$3.82B
| $26.1M | ﹤0.01% |
672,961
-24,074
| -3% | -$867K |
|
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.