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 | |
|---|---|---|---|---|---|---|
|
NSA
1176
DELISTED
National Storage Affiliates Trust
NSA
| $26.7M | ﹤0.01% |
705,263
+17,166
| +2% | +$735K |
|
1177
BancFirst
BANF
$3.85B
| $26.6M | ﹤0.01% |
227,418
+17,150
| +8% | +$2.01M |
|
1178
LCI Industries
LCII
$2.6B
| $26.4M | ﹤0.01% |
255,361
-41,700
| -14% | -$4.81M |
|
1179
Alpha Metallurgical Resources
AMR
$1.78B
| $26.3M | ﹤0.01% |
131,583
-83,140
| -39% | -$18.6M |
|
|
INGM
1180
Ingram Micro Holding
INGM
$6.74B
| $26.2M | ﹤0.01% |
+1,350,700
| New | +$30.3M |
|
1181
Lantheus
LNTH
$6.58B
| $26.2M | ﹤0.01% |
292,746
-210,271
| -42% | -$20.5M |
|
1182
BrightSpring Health Services
BTSG
$12.4B
| $26.1M | ﹤0.01% |
1,530,556
-2,919,732
| -66% | -$50.5M |
|
1183
Seagate
STX
$192B
| $25.7M | ﹤0.01% |
298,101
+139,748
| +88% | +$14.1M |
|
1184
Columbia Sportswear
COLM
$2.95B
| $25.7M | ﹤0.01% |
306,323
-10,782
| -3% | -$904K |
|
|
SMAR
1185
DELISTED
Smartsheet Inc.
SMAR
| $25.7M | ﹤0.01% |
458,005
+74,090
| +19% | +$4.15M |
|
1186
BGC Group
BGC
$5.25B
| $25.6M | ﹤0.01% |
2,830,211
+1,332,744
| +89% | +$12.8M |
|
1187
Cinemark Holdings
CNK
$4.41B
| $25.6M | ﹤0.01% |
827,085
+414,746
| +101% | +$12.8M |
|
|
BRSL
1188
Brightstar Lottery PLC
BRSL
$2.08B
| $25.6M | ﹤0.01% |
1,450,531
| – | – |
|
1189
Acadia Pharmaceuticals
ACAD
$4.65B
| $25.6M | ﹤0.01% |
1,392,618
+60,205
| +5% | +$972K |
|
1190
Azenta
AZTA
$1.39B
| $25.4M | ﹤0.01% |
508,055
-13,586
| -3% | -$619K |
|
|
INFA
1191
DELISTED
Informatica
INFA
| $25.3M | ﹤0.01% |
974,346
+386,098
| +66% | +$10.1M |
|
1192
Organon & Co
OGN
$3.56B
| $25.3M | ﹤0.01% |
1,692,916
+193,184
| +13% | +$3.15M |
|
1193
Klaviyo
KVYO
$5.72B
| $25.2M | ﹤0.01% |
610,994
| – | – |
|
1194
Upstart Holdings
UPST
$2.9B
| $25.2M | ﹤0.01% |
408,612
+156,527
| +62% | +$9.76M |
|
|
NUVL
1195
DELISTED
Nuvalent
NUVL
| $25M | ﹤0.01% |
318,739
+44,095
| +16% | +$4.12M |
|
1196
Leonardo DRS
DRS
$12.1B
| $24.9M | ﹤0.01% |
771,267
+34,153
| +5% | +$1.11M |
|
1197
Polaris
PII
$4.2B
| $24.7M | ﹤0.01% |
427,953
+350,000
| +449% | +$24.4M |
|
1198
First Interstate BancSystem
FIBK
$3.73B
| $24.1M | ﹤0.01% |
743,348
+199,451
| +37% | +$6.49M |
|
1199
Repligen
RGEN
$8.45B
| $24M | ﹤0.01% |
166,975
+26,500
| +19% | +$3.8M |
|
1200
Skywest
SKYW
$4.56B
| $23.9M | ﹤0.01% |
238,200
+117,200
| +97% | +$12M |
|
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.